NetworkNewsWire
Editorial Coverage: Blockchain continues to become increasingly
important in the financial technology sector. While some businesses
are focused on pure blockchain solutions, others are considering
how to integrate the technology into existing business practices to
ensure its benefit to customers and enduring value as a technology.
Global Payout, Inc. (GOHE) (GOHE
Profile) has incorporated blockchain into payment and
business consulting services for high-risk parts of the economy, as
well as supply chain management. LongFin Corp.
(LFIN) is making blockchain an integral part of
import/export transactions through smart contracts, as well as
using it to provide micro-lending, a vital banking service for
entrepreneurs in many parts of the globe. MGT Capital
Investments, Inc. (MGTI) has made cryptocurrency mining, a
prominent blockchain service, part of its secure technology
platform, while Global Arena Holding, Inc. (GAHC)
is seeking ways to apply blockchain for greater security in
elections. Patent licensing company Marathon Patent Group,
Inc. (MARA) has invested in crpytocurrency mining as a way
to broaden its technology-driven business. Across the board,
companies are finding ways to integrate blockchain into existing
work.
New Technology, Old Services
Blockchain has been the center of a storm of attention in recent
years, and with good reason. The distributed ledger technology can
be used for more than just cryptocurrencies. Blockchain allows
secure decentralized information storage, faster financial
transactions and smart contracts that automatically release payment
on completion. By decentralizing data storage, it could also remove
the risks of fraud and failure associated with a single point of
control.
The real power of blockchain, however, isn’t in what it can do
in isolation. Like any technology, it becomes most valuable when
integrated into daily life. Forward-thinking companies are
increasingly looking for ways to integrate blockchain’s financial
technology potential into wider work. By building clusters of
services around blockchain, these companies are making blockchain
more useful, appealing and profitable for a wide range of
customers.
Integrating Blockchain into Daily Payments
One of the companies leveraging blockchain is Global Payout,
Inc. (GOHE). Founded in 2009, Global Payout is
exploring the potential for blockchain in the payment sector and
beyond. In doing so, the company is weaving the potential of this
new technology into the needs and processes of other businesses.
Its payment solutions for large and small businesses build seamless
transactions on a blockchain platform so users don’t have to
differentiate between old and new payment technologies. Familiar
interfaces ease the transition into a new world of faster, more
efficient payment and better record keeping.
This movement began with Consolidated Payment Gateway (CPG), the
company’s first substantial payment platform for businesses. CPG
provides a central platform for the processing of payments around
the world. At the front end, individual users have access to mobile
accounts, direct bank payment and prepaid card accounts for a
comprehensive, customized payment solution. In the background, the
latest financial technology facilitates payments and supports
central oversight for an integrated solution that suits businesses
as well as employees.
In 2017, Global Payout followed CPG with Global Reserve Platform
(GRP). Built around the Global Reserve Administration module, GRP
also provides a customizable platform through which businesses can
manage payment processing. From front-end payment options to
backroom administration, it smoothly integrates advanced technology
into regular business practices. Mobile wallets and prepaid cards
connect the system to users’ existing payment expectations and
mobile technology.
This integration extends to larger scale financial transactions.
GRP can be used to process grants, loans and international
payments. Cutting-edge technology not only connects neatly into
existing processes but links the parts of those processes
together.
Integrating Blockchain into Wider Business
Another example of Global Payout’s integration of high
technology into everyday life is its MoneyTrac Technology
subsidiary.
MoneyTrac provides a blockchain-based payment platform for
businesses in the cannabis industry. Given the lucrative nature of
the medicinal and recreational cannabis markets in North America,
access to safe, secure payment processes is essential for companies
operating within the industry. Unable to access traditional banking
services, many businesses were historically stuck with inefficient
and insecure cash payment systems – until now.
MoneyTrac’s customizable payment software provides a complete
integrated system for companies seeking payment solutions. At the
customer-facing front end, MoneyTrac supports bill payment and
loyalty schemes, making payment and customer relations smooth and
easy. Cash logistics options are even available, allowing customers
to purchase using familiar payment methods. However, easy
electronic payment is also available through a blockchain-based
system.
At the back end, MoneyTrac’s system provides an audited, fully
compliant banking system, making it easier for businesses to follow
the high standards of regulation associated with this sector. The
software also makes it easier for businesses to apply for bank
accounts, thus integrating high-risk business systems with
traditional finance.
Global Payout has further integrated its financial technology
into broader business practices by offering MoneyTrac alongside a
flexible package of business solutions. The company offers business
consulting on a wide range of topics, including compliance, HR,
contracts and incorporation. Branding and marketing support help
businesses identify the best way to present themselves in the
market and to their customers; digital support includes website and
email design. And these additional business solutions are all
available through the customizable front end of the payment
system.
By incorporating blockchain into a complete package of support
for a modern business, MoneyTrac ensures the smooth adoption of the
technology.
Finding New Integrations
In addition, Global Payout is finding new ways to integrate its
blockchain payment solutions with other areas of business.
MoneyTrac accomplishes this through a series of collaborations
with other companies. An agreement with
Eychronic.tv is set to expand media and advertising solutions
for Eychronic.tv’s clients. In-store media services and digital
advertising options will become part of MoneyTrac’s complete
technological package for customers. MoneyTrac has also partnered with Crypto Cowboys, a company providing
build, supply and support services for cryptocurrency exchanges.
This joint venture will expand MoneyTrac’s presence in
blockchain-based currency and payment solutions. Another
partnership with GreenBox POS is
set to provide disruptive point-of-sale technologies, integrating
blockchain software into a range of payment services.
Another Global Payout subsidiary, SecurCapital, is using
blockchain to improve supply chain finance in the mid-tier
logistics industry. Forwarders, contractors, carriers and suppliers
can all benefit from SecurCapital solutions, including swift global
payments, invoicing and proof of delivery. Launched through
blockchain conferences in the United States, China
and the UK, SecurCapital will provide users with a system that
eliminates delays and middlemen, speeds up transactions and smooths
out the global supply chain. As with much of Global Payout’s work,
the results come not from focusing on the flash and dazzle of
blockchain but from integrating that technology into existing
processes. The unexpected application of blockchain to better
fulfill existing business needs ensures the future of the
technology and of the companies applying it in smart ways.
Blockchain across Business
Other companies exploring ways to integrate blockchain into
established business practices:
LongFin (LFIN) uses blockchain to provide
smooth, secure transactions for import/export businesses. Its
blockchain systems create smart contracts where the contract is
automatically completed once specific criteria are met. Completion
can allow the automatic release of funds or fulfillment of
transactions. Longfin also integrates blockchain into the process
of micro-lending through its recently acquired subsidiary
Ziddy.com. This blockchain-driven lending empowers small businesses
and entrepreneurs around the world.
MGT Capital Investment (MGTI) has invested in
cryptocurrency mining as part of a broad platform of investment in
secure technology. It has established one of the largest bitcoin
mining facilities in North America, providing a high rate of return
through the world’s leading blockchain-powered currency. But the
company’s vision extends beyond this. Its commitment to data mining
is setting up the company with processing power to run other
blockchain-based services as this technology grows.
Holding and technology development company Global Arena
Holding (GAHC) has invested in blockchain with a very
different goal in mind. The company’s subsidiary Global Election
Services working with labor organizations, credit unions and other
groups to help run elections around the world. Global has created a
second subsidiary, GAHI Acquisition Corp., to invest in blockchain
technologies for election registration and tabulation processes. If
this work bears fruit, Global Arena Holding will be able to
incorporate blockchain into existing election support services,
preventing electoral fraud through blockchain’s system of
unalterable past records.
Marathon Patent Group (MARA), a patent
licensing and commercialization company, has expanded beyond its
core focus on intellectual property exploitation to cryptocurrency
mining through its wholly owned subsidiary Marathon Crypto Mining.
A recently announced second mining facility will allow the company
to expand its profits through the blockchain-based currency space.
Even when blockchain isn’t being integrated into the core work of a
business, crypto mining can be integrated into a broader platform
to increase the business possibilities for a technology-oriented
company such as Marathon.
With blockchain continuing to become increasingly important in
the financial technology sector and beyond, companies such as
Global Payout are positioning themselves to make the most of this
new opportunity.
For more information on Global Payout, visit Global Payout,
Inc. (GOHE)
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