Adoption and Awareness of Blockchain Technology Continues to be Grow

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Increasing adoption of blockchain technology and growing awareness of the use of blockchain applications continue to drive the blockchain technology market. According to a report from Research and Markets, the global blockchain market is expected to grow from $411.5 million in 2017 to $7,683.7 million by 2022, at a compound annual growth rate of 79.6%. The report indicated that payments application segment is expected to hold the largest market size during the forecast period. Blockchain, which is best known as a distributed ledger that can record cryptocurrency transactions, is expected to reduce costs for many financial institutions and banks.

According to the report, "factors such as rising cryptocurrencies market cap and ICO, faster transactions, reduced total cost of ownership, simplified business processes, transparency, and immutability are expected to drive the market growth. However, the transformation of international trade and supply chain management, high adoption of blockchain for payments, smart contracts, and digital identities, rising importance and adoption of blockchain technology for communication service providers, and a new breed of programmable blockchain platforms would create lucrative market opportunities."

Global Payout, Inc. announced yesterday that, "despite initial delay, the official initiation of the formal audit will likely begin at the start of February, and make way for the filing of the form 10-K sometime in March. This progress signifies that the Company has made great strides in developing a strong base from which to build competitive subsidiaries in several key market sectors.

The recent announcement to spin off a subsidiary to focus exclusively on supply chain finance in the logistics industry, SecurCapital Corp., is significant in that it signals to investors, and the industry, that the Company intends to build a competitive FINTECH solution to address the many market challenges facing this sector. Additionally, MoneyTrac Technology has built significant relationships in a number of sectors including business development and Cryptocurrency. The goal of Global Payout is to provide these subsidiaries with a solid foundation, and the filing of the Form 10-K is a key building block in this endeavor."

"Over the years the core strategy of Global Payout has shifted significantly, from our inception as a prepaid card company to the present goals of incorporating cloud banking features into several key market sectors. The strength of Global Payout has been its resilience during this time of transition, but we feel confident that the best way to move forward for us and our shareholders is to become fully reporting, so that we can provide the best possible support to our subsidiaries while they meet their full potential," said Global Payout CEO, Jim Hancock."