#CryptoCorner: Oman’s Port of Salalah Partners with IBM’s (NYSE: $IBM) TradeLens, WisdomTree (NasdaqGS: $WETF) Leads Funding Round for #Blockchain Startup Securrency, Telefonica (NYSE: $TEF) Makes Blockchain Available to Around 8,000 Companies and DMG Blockchain (TSXV: $DMGI.V) Installs 1,000 Miners
Point Roberts, WA, Delta BC January 10, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.
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Read this in full at https://www.investorideas.com/news/2020/crypto-corner/01101IBM-WETF-TEF-DMGI.asp
Stocks discussed: (NYSE:IBM) (NasdaqGS:WETF) (NYSE:TEF) (TSXV:DMGI)
The Port of Salalah, which is the largest port in Oman, has joined IBM’s (NYSE:IBM) blockchain-enabled digital shipping platform TradeLens, according to a local outlet. Mark Hardiman, the CEO of the Port of Salalah, commented:
“Joining TradeLens is an important step forward for Port of Salalah in supporting the modernizing of the trade ecosystem. Logistics has been identified as one of the key pillars for economic diversification for the Sultanate of Oman. Adopting and incorporating blockchain technology into all aspects of the supply chain will not only enhance the attractiveness of Salalah for these companies but also support the development of new business models that can further leverage the geographical location of Salalah.”
ETF and ETP sponsor and asset manager WisdomTree Investments, Inc. (NasdaqGS:WETF) has made a strategic investment in blockchain compliance startup Securrency, Inc. WisdomTree led a Series A funding round, which raised $17.65 million for Securrency. Jonathan Steinberg, WisdomTree Founder and CEO, explained:
“Our investment in Securrency is the result of a multi-year review of blockchain technology and the associated landscape. In our review, we found instances of unnecessary applications of the technology and poor compliance with existing regulations; however, there are numerous elements of blockchain technology that, when correctly applied, will bring benefits to investors. Using the technology, we believe we have identified areas for exciting innovation within the ETF ecosystem and in financial services more broadly, all with a focus on meeting the highest standards of regulation.”
Spanish telecom giant Telefonica (NYSE:TEF) has partnered with the Association of Science and Technology Parket (APTE) giving around 8,000 companies in Spain access to its blockchain network, according to a report from Total Telecom. Maria Jesus Almazor, CEO of Telefonica Spain, commented:
"Companies housed in these scientific and technological parks will be able to benefit from the advantages of blockchain technology without having to face the inherent complexity of it, or have to dedicate resources to acquire the knowledge necessary to make the most of it.”
DMG Blockchain Solutions Inc. (TSXV:DMGI) has installed 1,000 crypto miners for “a new client based in the U.S.” according to a recent press release. The miners were shipped by Bitmain to DMG’s Christina Lake facility in late December, and are now fully operational. DMG’s COO Sheldon Bennett said:
“We are excited to begin working with this new client and are confident that they will be one of many we add during 2020. DMG made a decision to focus on attracting large scale hosting clients as profitable crypto-mining is a function of creating cost efficiencies, and our mining facility is well suited for industrial miners.”
Sam Mowers, Investorideas
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