FinancialBuzz.com Exclusive Interview With Global Blockchain Technologies Corp. President & Chief Operating Officer Shidan Gouran Along With Cryptocurrency Sector Update
NEW YORK, December 8, 2017 /PRNewswire/ --
FinancialBuzz.com, a respected source in the financial news media, today announces an exclusive interview with Global Blockchain Technologies Corp. (TSX-V: BLOC) (OTC: BLKCF) President and Chief Operating Officer, Shidan Gouran.
Mr. Gouran shares with us his professional experience, a brief overview of the company, why he is excited about where the future of the company is heading, his views on the overall cryptocurrency sector, especially with the launch of bitcoin future derivatives market. The interview provides unique insight into the Company's latest corporate developments, an update on current Blockchain market and the overall Cryptocurrency Sector.
FinancialBuzz.com News Commentary
According to CoinDesk, the price of bitcoin hit a new all-time high of over $15,000 on Wednesday. Bitcoin, the world's largest cryptocurrency by market capitalization, has experienced explosive growth in 2017 by gaining year-to-date of over 1,500 percent. Bitcoin value was under $1,000 at the beginning of the year, and it is now trading at above $15,000 per token. According to data from CoinMarketCap, bitcoin now has a market value of over $216 billion.
The combined market value of all cryptocurrencies also hit a record high of over 374 billion on Thursday. Experts expected that the upcoming launch of bitcoin futures contracts may attract more institutional investors to the cryptocurrency market. According to Forbes, cryptocurrency fund manager Jacob Eliosoff stated, "Why BTC has outperformed is an interesting question, but it seems to be largely a factor of its brand and public awareness still being way out ahead of the rest…Even the relatively savvy financial institutions wading in now see Bitcoin as the bellwether for the industry, and allocate their capital accordingly."
Now Exclusive Interview with the President and Chief Operating Officer, Shidan Gouran
Q: Can you provide our readers a brief overview of the company. How does your company differentiate itself from other Blockchain/Cryptocurrency companies in the market?
A: Global Blockchain is an investment company that deals in holdings of both established and upcoming cryptocurrencies. In addition to the incubation of new cryptocurrencies (by offering assistance with such things as development, compliance, and ICO). We differentiate on a number of levels. The main difference is that we are actively contributing to the blockchain ecosystem with new developments, and strategic partnerships with leaders in both industry and government. While we do actively invest in cryptocurrencies themselves, this is not where the bulk of our value is. With our experienced management team who has been part of the blockchain and cryptocurrency worlds from the beginning, we are able to identify where the greatest opportunities are (whether in existing cryptocurrencies, or entirely new applications for them). Then, having the necessary resources to bring these opportunities either to fruition or to their maximum potential, we not only strengthen the blockchain as a whole - but we also bring the ultimate value to our investors by having early-acquired stakes in what will ultimately be great successes.
Our company's strategy is symbolic of the blockchain itself. That is, it's distributed. Distributed in its holdings, distributed in its projects, and distributed in its involvement. Many investors are dissuaded from investing in specific cryptocurrencies due to risks that are associated with each one. We quell those concerns by taking a "basket" approach, where you are investing in more than just a cryptocurrency.
Q: Global Blockchain recently entered into an agreement to acquire Coinstream Mining Corp. Can you elaborate how your acquisition of Coinstream will contribute to the future of the company?
A: Our acquisition of Coinstream was done with the primary objective of getting a hold of distributed mining technologies, in anticipation of the inevitable increased difficulty of mining cryptocurrencies, which will make streaming a more difficult strategy to use for cryptocurrencies. Why is this the case? Streaming is a common funding strategy in the commodities industry, where an investor will provide a fixed sum to a commodity provider, in exchange for a supply of units at a fixed price, irrespective of fluctuations or market price changes. This strategy is easy to utilize in the case of commodities such as gold or energy, as they will not necessarily become more difficult to procure. However, cryptocurrencies, by design, are meant to become more difficult to mine over the course of time. As in, it is programmed for this to happen.
Through Coinstream, we will create partnerships with numerous technology vendors to harness the computing power of various devices that use computers (such as refrigerators, gaming consoles, and HVAC systems). By having access to a distributed network of computing power, we are effectively without limits in terms of accessing the computing power that we will need both today and tomorrow to effectively and sustainably mine cryptocurrencies. This will facilitate mutually profitable streaming deals, and cause our mining division to be the market leader in offering this financial instrument.
Q: Recently, cryptocurrency has become more prevalent, wallet holding companies are becoming more and more common, yet some still have security issues resulting in breaches in the blockchain and exposing investor wallets. What is your security segment like and how does the team expect to go about preventing breaches?
A: We recognize these weaknesses, but are not especially intimidated by them. As part of our holistic approach to long-term investor value, we keep just as current on matters relating to cryptocurrency security as we do matters relating to the growth and economics of cryptocurrencies. We will be using best-of-breed hardware and cold storage solutions, which do not enable the cryptocurrency keys to touch the internet in any way. In addition to this, part of our incubation strategy will be working with ventures in this field to develop new and even stronger technologies. Security cannot be overlooked, and this is something we are taking care of in order to be leaders right from the beginning.
Q: What milestones have been reached so far and also what future catalysts are in store for 2018. With Bitcoin and Cryptocurrency mania still at all time highs, what is your take into the outlook for 2018?
A: We have achieved several milestones so far. As you know, we landed the Coinstream deal in November. In addition, we have a number of ICOs that we are incubating for new cryptocurrencies. As of now, we have three ICOs that we will be set to announce in the early new year. We predict that the success of these offerings will set a benchmark for other new cryptocurrencies that come to market. This, too, will create new opportunities for us to lead more new ICOs. We believe this is only the beginning.
As for our outlook, it's pretty well the same. That is, this is only the beginning. The momentum that cryptocurrencies have had in 2017 is representative of what 2018 has in store, only with a higher trajectory. We believe that what will make cryptocurrencies stronger in this time is cooperation. Both between industry partners (to set standards in each industry), and for governments and regulatory bodies (to embrace cryptocurrencies, instead of fearing them). There has been little of this in 2017 and prior years, but we believe that this will change considerably in 2018.
Q: The company announced that it will start its own ICO incubator, you have chosen four sectors to start in, telecoms, energy, cannabis and entertainment industries. What makes these four sectors better than others and what were the reasoning behind this?
A: Energy and telecom were easy choices for us for two reasons. The first is that the distributed network technologies that underpin energy and telecom services are perfect for the blockchain. As in, where other industries such as education or agriculture may not have the same distributed computing resources, these already exist for energy and telecom. The second is that we already have contacts in both of these sectors, and this has led to us working on an ICO in telecom, which is one of the ones we will be announcing in 2018. Both energy and telecom also have the unique properties of having resellable resources, which can be traded among users on blockchain technology in order to maximize efficient use.
We have chosen entertainment and marijuana as well, also because we have key partnerships with existing players in these fields. The barriers to entering these spheres for new cryptocurrencies are more related to regulations and compliance, not to much to technology. With these partnerships, these barriers will effectively be bypassed, enabling us to put focus on creating top-notch, niche-specific cryptocurrencies without possible regulatory hurdles.
Q: How will the company adapt to the growing changes that come as cryptocurrency grows larger, such as unprecedented events like China banning cryptocurrency exchanges?
A: We're hedging ourselves against such events as these by having a wide portfolio of holdings. Which means that if one cryptocurrency runs into a snag, that only affects that one particular holding, not the others. The more important thing to keep in mind, though, is that we don't invest in just cryptocurrencies. By dealing in blockchain technologies, and even intellectual property that pertains to the same, our holdings are not necessarily tied to cryptocurrencies at all. No matter what bans or restrictions a government may place on cryptocurrency exchanges, this will not affect our holdings or strengths in the use of blockchain technologies. It is widely recognized that blockchain is the new way of computing. By becoming leaders in this technology, we have a flexible, sustainable, and almost untouchable advantage over those who have narrower holdings, or holdings in just cryptocurrencies. By diversifying, and thinking in the long term, we become less susceptible to whatever regulatory issues may come up.
Q: What are your thoughts on the upcoming bitcoin futures and their impact on the cryptocurrency market?
A: The bitcoin futures market is very important, because it creates a stable store of wealth that will be immensely beneficial for hedgers, by reducing volatility. For speculators, it will be disastrous. We anticipate that we may use bitcoin future as a hedging tool for ourselves, too. In any event, their upcoming introduction to the market brings additional attention to cryptocurrencies, especially at the institutional level, which we believe is a healthy movement for cryptocurrencies in general.
About Global Blockchain Technologies Corp.
Global Blockchain Technologies is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies.
Through GBT's wholly owned subsidiary, Global Blockchain Mining Corp., the company has entered into an agreement to acquire a 49.9-per-cent interest in CoinStream Mining Corp., to employ the streaming model, providing strategic upfront capital and an additional payment upon delivery of the cryptocurrency, to select proven, best-in-class operators and operations, in exchange for a stream of future cryptocurrency production, at a fixed price. The company is investigating and intends to pursue an arrangement agreement with its newly created, wholly owned subsidiary, Global Blockchain Mining, to carry out a plan of arrangement.
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