Is Global Blockchain Technologies Corp (OTCMKTS:BLKCF) About to Take a Huge Step?

Is Global Blockchain Technologies Corp (OTCMKTS:BLKCF) About to Take a Huge Step?

SHARE

We haven’t seen a ton of revenue stream diversification in the blockchain space, but the announcement by Global Blockchain Technologies Corp (OTCMKTS:BLKCF) to start this week may set the table for something interesting in that vein.

To wit: the company just announced a proof-of-concept for a peer-to-peer decentralized marketplace for cloud services, geared towards enterprise users. According to the release, “the PoC will match users that have excess computing resources with users who require additional computing resources, enabling the latter user to purchase what they need from the former user. This PoC leverages the “sharing economy” model championed by Uber and AirBnB, bringing similar benefits to enterprise computing and its users. It will be built on the Laser network, a blockchain developed by the Company that connects existing blockchain networks to be interoperable, similar to the role that SWIFT plays in banking.”

Global Blockchain Technologies Corp (OTCMKTS:BLKCF) frames itself as 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. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol \”BLOC\”.

According to company materials, “Global Blockchain Technologies Corp. 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. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC”. Other information relating to GBT is available on SEDAR at www.sedar.com as well as on the Company’s website at www.globalblockchain.io”

Find out when $BLKCF stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

The chart shows 9% added to share values of the company over the past week of action, a rally that has pushed up against longer standing distributive pressure in the stock. That said, BLKCF has a track record that includes a number of dramatic bounces.

In addition, the company has seen interest climb, with an increase in recent trading volume of 24% above its longer-run average levels. This should not be overlooked with the stock trading on a float that is tiny at just 18M shares.

Bill Philbin, Hewlett Packard Enterprise SVP and CTO, Hybrid IT, commented “Emerging technology may soon enable users to experiment in the sharing economy. Through a collaboration with HPE, Global Blockchain Technologies Corporation is developing a Proof-of-Concept network. The goal of the PoC network is to demonstrate how a user can monetize under-utilized storage assets by supplying them to the network, and how they can migrate existing data to the network with minimal disruption.”

Eskander Mirza, Chairman of Hewlett Packard Enterprise’s Storage Users Group states “We are thrilled to give our members the opportunity to try this groundbreaking PoC, it addresses a persisting issue of supply and demand for computing resources that virtually all of the group’s members face, and it is clear that when this PoC hits the mainstream enterprise market, everybody will want to use it.”

Earning a current market cap value of $135M, BLKCF has a significant war chest ($3.1M) of cash on the books, which is balanced by virtually no total current liabilities. BLKCF is pulling in trailing 12-month revenues of $30K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 1508.6%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $BLKCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BLKCF, either long or short, and we have not been compensated for this article.

Sign Up for our 100% FREE Oracle Dispatch Newsletter