BTCS Expands Business Model with Development of Digital Asset Data Analytics Platform

Silver Spring, MD, Feb. 03, 2020 (GLOBE NEWSWIRE) -- BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a digital asset and blockchain technology focused company, is expanding its business model with the development of a consumer-facing digital-asset data analytics platform that enables users to connect multiple digital asset exchanges and wallets to aggregate portfolio holdings into a single seamless platform to view and analyse performance, risk metrics, and potential tax implications. The initial beta launch of the platform is expected in the second half of 2020.

There are currently more than 250 digital asset exchanges globally and 27 in the US, the majority of which lack detailed performance metrics. Further complicating performance tracking for digital asset participants is the fact that many participants hold assets on multiple exchanges. BTCS’s analytics platform is being designed and built to provide a solution to this growing problem, allowing users to aggregate data related to their holdings in near real-time in a single view combined with a robust suite of tools for performance tracking.

“The digital asset market now records more than $37 billion of transactions daily,” stated Charles Allen, CEO of BTCS. “We believe the market has matured to a point that warrants and supports a more sophisticated method of tracking holdings and performance, and our first-of-its-kind platform is being designed to serve this unmet need.”

BTCS began development of its digital asset data analytics platform in mid-2019 and expects to open the platform in the second quarter of 2020 to invitation-only beta testing, with the goal of full commercial beta release by year-end 2020.

In addition to performance metrics and aggregation of digital asset holdings data derived from read-only API calls to connected exchanges or tied to blockchain wallet addresses, BTCS’s innovative platform solution is being designed with a community focus that will allow users to share their trade history with other platform users. Community participants will be able to choose to provide their performance and trade data to other users for free or share on a user-selected subscription-fee basis. Longer-term plans include BTCS taking a percentage, yet-to-be-determined, of this fee, generating a new revenue stream for the Company.