Fintech Industry Booming Fueled by Latest Blockchain Innovation

PALM BEACH, Florida, October 9, 2018 /PRNewswire/ --

Financialnewsmedia.com News Commentary 

Blockchain innovation continues to be the force to be reckoned with in the digital world, as its effects are being felt in a number of different industries. The global blockchain technology market size is expected to reach USD $7.59 billion by 2024, according to a new report by Grand View Research, Inc., registering a 37.2% CAGR during the forecast period. Increasing demand for this technology across financial transactions, consumer products, technology, media and telecom, healthcare, transportation, and public sectors is largely responsible for market growth. According to Grand View, the market is expected to exhibit significant growth owing to abundant benefits provided by this technology, such as eliminating need for any financial institution to authenticate transactions, eliminating reconciliation, reducing duplicative recordkeeping, facilitating faster settlement, and minimizing error rates. This technology allows access to databases from everywhere, thereby allowing multiple institutions to use it simultaneously to bring different systems nearer and help improve efficiency. Active tech companies in the markets this week include Surge Holdings, Inc. (OTC:SURG), Seven Stars Cloud Group, Inc. (NASDAQ:SSC), Xunlei Limited (NASDAQ:XNET), Pareteum Corporation (NYSE:TEUM), HIVE Blockchain Technologies Ltd. (OTC:HVBTF) (TSX-V:HIVE).

Surge Holdings, Inc. (OTCQB:SURG) BREAKING NEWS: SURG, the Las Vegas-based telecom and Fintech software company intending to become the country's leading provider of technology and consumable products to convenient stores, today announced an MOU commitment of 40,000 new store locations utilizing the SurgePays Blockchain SaaS portal with a commitment of $1,500 per month in sales per location.

"We have worked relentlessly over the last year aligning our products and support while engineering our SurgePays e-commerce portal to gear up for this type of rollout with a great company like Pastime Foods," said Brian Cox, Surge Holdings CEO. "This is just the start of our push to add products and services to our SurgePays merchant portal while we aggressively add convenient stores and corner markets to our expanding merchant network."