NetworkNewsWire
Editorial Coverage: In a global marketplace
where Internet-based technologies increasingly allow businesses the
means and confidence to work with each other beyond political
borders and with a minimum of governmental interference,
cryptocurrencies have the potential to create a B2B interdependent
financing system — perhaps even a single, common digital currency
someday — because of the blockchain technology that underpins
cryptocurrency trade. With the beginning of market movement for the
new year, cryptocurrency started just shy of $613 billion in total
capitalization and climbed steadily toward $750 billion on Jan. 4,
showing an exponential rise just since April 2017 when it passed
the $25 billion mark. ChineseInvestors.com, Inc.
(CIIX) (CIIX
Profile) is one of the businesses committed to the development
of blockchain-based cryptocurrencies, recently announcing plans to
spin-off two of its corporate divisions tied to hemp marketing and
the burgeoning legal cannabis industry in order to focus on its
cryptocurrency division (http://nnw.fm/5sf8Z). Other companies preparing to
capitalize on opportunities in the blockchain sector include
MGT Capital Investments, Inc. (MGTI), LongFin Corp. (LFIN),
Bitcoin Services, Inc. (BTSC) and
Overstock.com, Inc., (OSTK).
ChineseInvestors.com (CIIX) provides innovation in
real-time market analysis and educational services in Chinese
language character sets, support services for advertising and
public relations, and the sale of hemp-based products and other
health-related products. Despite China’s prohibitions on trading
cryptocurrencies as a regulated central exchange, company CEO
Warren Wang stated in an interview last month that many Chinese
investors are trading them legally on unregulated “over the
counter” platforms that connect individuals to each other. And
ChineseInvestors.com showed its own commitment to cryptocurrency by
installing a Bitcoin ATM in the lobby of its San Gabriel,
California, headquarters (http://nnw.fm/VIa3n). Wang called it the first such
automated teller for cryptocurrency within the Chinese community in
the United States and said it has generated a lot of traffic.
China serves as an example of the mutual distrust that drives
cryptocurrencies’ prospects while relying on so-called
“miners” to establish a level of trust in the legitimacy
of the exchanges.
Despite the lack of a regulated Chinese exchange to trade
cryptocurrencies and what Wang referred to as the Chinese
government’s “badmouthing” of bitcoin though its official
TV media outlet, the CEO said Chinese-speaking people within China
and North America are very interested in buying, selling and
trading bitcoin among themselves and he urged entrepreneurs to be
patient as the community learns the ropes.
“I believe Chinese investors will be the richest group in the
world in (the) next 20 years, … because Chinese middle class are
emerging since 2000 when the country opened the door to worldwide
people,” he said in an interview with NetworkNewsWire (http://nnw.fm/U2Uct). “Real estate is very expensive
and so are labor and rents in China. Investors have a high savings
rate. They now would like to make bitcoin and other
cryptocurrencies part of their assets.”
Blockchain technology was established on the principle that an
unalterable digital ledger of transactions (arranged in blocks)
requiring transparency among multiple parties would reduce the risk
of fraud and prevent duplication in the transactions. It was
proposed as the foundation of an alternative, people’s-run economic
system that would not require the security of an established
storefront middleman like a bank to uphold the transactions.
Critics have questioned it on a commodities basis, searching for an
undeniable stability that investors can rely on.
ChineseInvestors.com's ATM is one example of the company’s
commitment to providing cryptocurrency education. The company
recently attended a Toronto cryptocurrency roadshow and educational
seminar on how to buy, sell and manage the coins, and it produces a
daily video from the New York Stock Exchange called ‘Bitcoin
Multimillionaire’ that is focused on news about the currency
(http://nnw.fm/Lfrx8).
“In an effort to expand its media products, as the first quarter
of fiscal year 2018 came to a close, the Company announced that it
would be working with Wall Street Multimedia (WSM), an independent
news agency located in the NYSE, to produce a daily cryptocurrency
video newscast in Chinese, providing timely information and
exclusive analysis regarding all aspects of the emerging digital
currency world, including specific cryptocurrencies, such as
‘Bitcoin’ and ‘Ethereum,’ industry trends, price movement,
blockchain technology, sector-related stocks and ETFs, etc.,”
ChineseInvestors.com stated in its most recent 10Q filing in
October.
The company has offices in Shanghai, New York and California,
and has plans to expand to Canada.
“There’s so many cryptocurrencies from China emerging, or at
least on the exchange right now,” Wang said, referring to a sort of
anti-governmental sentiment and a “huge demand from (the) Chinese
community trying to learn these assets and what (they) are about”
that “gives us tremendous opportunity to bring the revenue and
profitability to our shareholders."
Other companies focused on the potential of blockchain’s
financial applications include:
MGT Capital Investments (MGTI), which is a
Northwestern United States company deeply invested in cybersecurity
technologies for mobile and corporate applications. The company is
also one of the largest worldwide working in Bitcoin mining and
announced agreements in December to secure “reliable and adequate”
electrical power in Sweden to begin bit mining operations there by
the end of January. (http://nnw.fm/noP3K).
LongFin (LFIN) specializes in structured
commodity trade finance worldwide and works to establish markets
and ensure liquidity through technological advances. The company
stated in the fall of 2017 that it aims to connect 70 FX and spot
exchanges with 300 banks through its electronic market platform,
and in December made headlines when the acquisition of Ziddu.com
sparked a huge cryptocurrency fever-inspired bounce in trading
(http://nnw.fm/jRr8I).
Bitcoin Services (BTSC) is
another company that performs bitcoin mining services, and began
mining its own cryptocurrency known as Dash in early 2017. The
company develops and markets blockchain-related software, and
created subsidiary CryptoCapital Corp. in the fall of 2017 as a
cryptocurrency holding firm, or a digital wallet, that would let
users store multiple digital currencies in one place.
Overstock.com (OSTK) solidified its goal of
bringing greater transparency and efficiency to capital markets by
launching an initial coin offering (ICO), cryptocurrency’s version
of a stock initial public offering (IPO), in December through its
exchange operator, tZERO. The “pre-sale” phase targeting
strategic purchasers began Dec. 18 and a “subsequent sale period”
phase seeking agreements with other accredited investors is
scheduled to begin Jan. 18. Overstock is the third-most-active
corporate blockchain investor worldwide, according to a CB Insights
report (http://nnw.fm/Cd39K), and may even consider selling
off the retail business to focus on the 10 blockchain companies it
owns (http://nnw.fm/Sx0gO).
Amid a worldwide effort to conduct business across borders as
seamlessly and transparently as possible, blockchain technology and
its financial sector development as cryptocurrencies are building
confidence in an alternative economic system built on the need to
overcome mutual distrust that exists between trading partners,
governments and people in general as they strive to successfully
work together.
For more information on ChineseInvestors.com, Inc. visit
ChineseInvestors.com, Inc. (CIIX)
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides
(1) access to our news aggregation and syndication servers, (2)
NetworkNewsBreaks that summarize corporate news and
information, (3) enhanced press release services, (4) social media
distribution and optimization services, and (5) a full array of
corporate communication solutions. As a multifaceted financial news
and content distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to
best serve private and public companies that desire to reach a wide
audience of investors, consumers, journalists and the general
public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings
its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW are a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertake no
obligation to update such statements.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com