Sequoia India Led $40 Mn Series C Funding Round In Edtech Company Eruditus
Existing investor Bertelsmann India Investments also participated in the round
The funding will be used to increase its course offerings in technical subjects
It also plans to expand its multilingual offerings
Edtech company the Eruditus group
which runs Eruditus Executive Education and its online division Emeritus
has raised $40Mn (INR 281 Cr) in a Series C funding round which was led
by Sequoia India. The round also saw participation from existing
investor Bertelsmann India Investments.
The company will use this funding to
increase its course offerings in technical subjects such as data
science, machine learning, blockchain and cybersecurity. It also plans
to expand its language offerings to include Portuguese and Mandarin, in
addition to English and Spanish.
“We will use the proceeds of this
latest fundraise to create a more immersive and adaptive learning
platform, to expand our multilingual capabilities, and to ensure that
our omnichannel offerings are readily available to our students
on-the-go,†said Ashwin Damera, cofounder of Eruditus and director at
Emeritus.
Eruditus: Targeting A 10X Hike In Student Enrollment
Eruditus, founded in 2010 by Chaitanya Kalipatnapu and Ashwin Damera,
provides executive education programmes in association with global
business schools such as MIT, Columbia, Harvard Business School, INSEAD,
Tuck at Dartmouth, Wharton, UC Berkeley and London Business School.
These programs are held for six to eight months and can be available via on campus, off campus and online modes.
The company is looking to enroll 30K
students from more than 80 countries in the current financial year. It
also aims to increase its enrollment by more than 10 times within the
next five years across certificate courses and online degrees.
Eruditus had earlier raised $8.16 Mn (INR 57.4 Cr) in a Series B funding round led by Bertelsmann India Investments in 2017. Earlier in July, it had raised $2.2 Mn (INR 16 Cr) in a debt financing round from Innoven Capital.
Edtech Funding In India
The edtech sector has been recently
gaining popularity among the investors. In 2017, edtech witnessed a 30%
hike in terms of investments with international funding touching a new record of $9.52 Bn (INR 67,010 Cr).
Last month, Hyderabad-based edtech startup Toppr has raised funding
of $35 Mn (INR 246.13 Cr) from Kaizen Private Equity and existing
investors SAIF Partners, Helion Ventures, Kaizen PE and Eight Roads
Ventures.
Edtech unicorn BYJU’S raised $540 Mn
(INR 3,800 Cr) in Series F funding from Canada Pension board’s
investment arm CPPIB Investment Board Private Holdings, Naspers Ventures
BV and General Atlantic Singapore TL Pvt Ltd, boosting its valuation to
$4 Bn (INR 28,155 Cr).
According to a report
by the India Didactics Association, the online education industry in
India is projected to grow almost eight times to hit $1.96 Bn (INR
13,795 Cr) by 2021. It also added that the number of paid users in the
segment is expected to grow six-fold to reach 9.6 Bn by 2021.
A report
by Google-KPMG said that reskilling and online certification courses
accounted for about 38% of the total online education market as of 2017.
Posted by AGORACOM-JC
at 8:47 AM on Thursday, January 10th, 2019
U.S. Navy has reached an agreement with the shipbuilder, Huntington Ingalls Industries (HII), to move forward with the purchase of two Ford-class aircraft carriers.
“This is great news for PyroGenesis as we are the proud supplier of plasma-based waste destruction systems to the U.S. Navy. We are in the design of the aircraft carrier, and have delivered two systems to date,†said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “
MONTREAL, Jan. 10, 2019 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (Frankfurt: 8PY: FRA)  a TSX Venture 50® high-tech company, (the “Company”, the “Corporation†or “PyroGenesis”) a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to an earlier press release dated October 10th, 2018 on the topic (PyroGenesis Announces US Congress Support For the Purchase of Two Aircraft Carriers), the U.S. Navy has reached an agreement with the shipbuilder, Huntington Ingalls Industries (HII), to move forward with the purchase of two Ford-class aircraft carriers. This transaction will cover CVN 80 (the Enterprise) and CVN 81 (yet-to-be-named), which are the third and fourth carriers of the Gerald R. Ford-class.
“This is great news for PyroGenesis as we are the proud supplier of plasma-based waste destruction systems to the U.S. Navy. We are in the design of the aircraft carrier, and have delivered two systems to date,†said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “The original schedule envisioned ordering one aircraft carrier in 2018. Amending this schedule for a two-ship buy required various approvals causing some minor delays which, as we see from today’s press release, have all been overcome.â€
According to the Daily Press,
“The Navy has reached an agreement with HII for a block purchase of two
aircraft carriers. James F. Geurts, the Navy’s chief weapons buyer,
told Congress in November that he expected a decision on a two-carrier
purchase by year’s end (2018). The deadline was made with a few hours to
spare, with first word of the deal coming Monday afternoon, New Year’s
Eve. That day, the Defense Department notified select members of
Congress, in a letter, that it had reached an agreement. Capt. Danny
Hernandez, a spokesman for Geurts [the Navy’s chief weapons buyer],
confirmed the agreement and said more details would be forthcoming after
the contract award.1
HII spokesperson Beci Brenton said in a statement that a two-ship buy
is “a significant step toward building these ships more affordably…it
is important to note that the multi-ship purchase of aircraft carriers
helps stabilize the Newport News Shipbuilding workforce, enables the
purchase of material in quantity, and permits a fragile supplier base of
more than 2,000 in 46 states to phase work more efficiently.â€
“The U.S. Navy, and the shipbuilder, have effectively come to an
agreement to build two aircraft carriers at the same time, instead of
one,†said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “The
order is for approximately $12.5MM and will represent the largest
commercial contract to date. The Company has been put on notice that an
order is imminent. One system typically takes between 12-15 months to
build so we would expect a two-order contract to take a few more
months.â€
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 certified and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward- looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Corporation’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’s ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual
results, events, and performance may differ materially. Readers are
cautioned not to place undue reliance on these forward-looking
statements. The Corporation undertakes no obligation to publicly update
or revise any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
Neither the TSX Venture Exchange, its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) nor the OTCQB accepts responsibility for the adequacy or
accuracy of this press release.
Tags: tsx Posted in All Recent Posts, Featured, PyroGenesis Canada Inc. | Comments Off on PyroGenesis $PYR.ca Announces that the US Navy is Moving Forward with a Two-Ship Buy; 12.5 Million Dollar Contract Imminent
Posted by AGORACOM-JC
at 8:22 AM on Thursday, January 10th, 2019
Clone production for the 2019 season at their Scio, Oregon High Yielding CBD Hemp project is now in high gear, in preparation for an “as early as possible†planting this year
Unlike 2018, which had a late start to planting due to delays in finalizing the acquisition of the project’s 109 acre farm, preparations are underway so that planting of this year’s crop can begin in late May to early June.
ESCONDIDO, Calif., Jan. 10, 2019 – via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA†or the “Companyâ€) (OTC: MCOA), an innovative hemp and cannabis corporation, and its Joint Venture partner Global Hemp Group Inc. (CSE: GHG/ OTC: GBHPF/ FRA: GHG) are pleased to announce that clone production for the 2019 season at their Scio, Oregon High Yielding CBD Hemp project is now in high gear, in preparation for an “as early as possible†planting this year. Unlike 2018, which had a late start to planting due to delays in finalizing the acquisition of the project’s 109 acre farm, preparations are underway so that planting of this year’s crop can begin in late May to early June. This will provide an additional 45 to 60 days of growing time compared to last year, allowing time for the hemp plants to get considerably larger, which will generate a greater quantity of biomass.
For 2019, the project will cultivate three hemp strains which will
offer high CBD content, substantial biomass yield, and ultra low THC
levels, along with superior pest resistance and disease tolerance. These
strains also have a shorter flowering period, which will allow for an
earlier harvest, before the usual Fall rainy season begins in the
region.
The hardiest phenotypes were selected for mother plants that will
feed the cloning process, which began back in November 2018 soon after
the recent harvest and drying operation was complete. This cloning
operation will produce the approximately 40,000+ clones required to
plant on the farm’s lower 35 acres.
The Scio team is now upgrading the lighting and electrical in the
greenhouses for continued expansion of the cloning operation. It is
expected that the cloning operations will produce an excess of clones
beyond what is required for the Scio project, which will allow for the
sale to other farms in the area. The team continues to talk with local
farmers that are interested in partnering to cultivate hemp for the
coming season. On-site clone operations will eliminate the need of
capital outlay to purchase clones from other growers as was required in
2018 as the result of the late start, an expense of over US$200,000.
In addition, the project’s operating company, Covered Bridge Acres
(CBA), has received its registration to cultivate hemp for 2019 from the
Oregon Department of Agriculture. Also, for the 2019 season, CBA is now
registered to produce or handle agricultural hemp seed, so that the
company can establish a breeding program that will potentially generate
additional revenue for the project.
Management is currently searching for an offsite warehouse to store
biomass and complete hammer mill processing of the material produced
from the 2018 harvest. Once the location has been secured, CBA will
complete its Land Use Compatibility Statement (LUCS) and apply for its
2019 Industrial Hemp Handler registration that will enable CBA to
further process (extract) its material. Management is in ongoing
discussions with several potential off takers and processing partners in
an effort to monetize the 2018 biomass and prepare for the upcoming
2019 season which will produce significantly more material.
About Marijuana Company of America, Inc. MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™â€, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Our hempSMART Products Containing CBD The
United States Food and Drug Administration (FDA) has not recognized CBD
as a safe and effective drug for any indication. Our products containing
CBD derived from industrial hemp are not marketed or sold based upon
claims that their use is safe and effective treatment for any medical
condition as drugs or dietary supplements subject to the FDA’s
jurisdiction.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG), is
focused on a multi-phased strategy to build a strong presence in the
industrial hemp industry in both Canada and the United States. The
Company is headquartered in Vancouver, British Columbia, with hemp
cultivation operations in New Brunswick and Oregon. The first phase of
this strategy is to develop hemp cultivation with the objective of
extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near
term revenue stream that will allow the Company to expand and develop
successive phases of the strategy. The second phase of the plan will
focus on the development of value-added industrial hemp products
utilizing the processing of the whole hemp plant, as envisioned in the
Company’s Hemp Agro-Industrial Zone (HAIZ) strategy.
Forward Looking Statements This
news release contains “forward-looking statements” which are not purely
historical and may include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such forward-looking
statements include, among other things, the development, costs and
results of new business opportunities and words such as “anticipate”,
“seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or
similar phrases may be deemed “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others,
the inherent uncertainties associated with new projects, the future U.S.
and global economies, the impact of competition, and the Company’s
reliance on existing regulations regarding the use and development of
cannabis-based products. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans, expectations
and intentions contained in this press release are reasonable, there can
be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all of
the information set forth herein and should also refer to the risk
factors disclosure outlined in our annual report on Form 10-12G, our
quarterly reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission. For more
information, please visit www.sec.gov.
For more information, please visit the Company’s websites at:
Tags: CBD, mcoa, Scio project, tsx, tsx-v Posted in All Recent Posts, Featured, Marijuana Company of America | Comments Off on Clone Production at Marijuana Company of America’s $MCOA Scio Oregon Hemp Project Underway – Hemp Growers License Renewed for 2019 $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca
Posted by AGORACOM-JC
at 9:41 AM on Wednesday, January 9th, 2019
SPONSOR: New Age Metals Inc.
(TSX-V: NAM) The company’s new Lithium Division has already made
significant acquisitions in Canada and the USA. The company also owns
one of North America’s largest primary platinum group metals deposit in
Sudbury, Canada. Learn More.
NAM: TSX-V
——————————
The Palladium Play – Part 1
Palladium: The White-Hot Metal Climbed 18% in 2018 and Doubled in Three Years
BY John Ciampaglia
Part 1 in our palladium series provides a primer; Part 2 will explore the unique supply/demand fundamentals that support our bullish outlook.
Palladium has been on a multi-year run that shows few signs of
abating. For the tumultuous market year 2018, spot palladium gained
18.6% and is up 124% since the beginning of 2016. In comparison, spot
gold, platinum and silver all declined last year (1.6%, 14.5%, and 8.5%,
respectively), while U.S. equities lost 4.4% in 2018, as measured by
the S&P 500 Total Return Index.1
Palladium is close to becoming the most “precious†of precious
metals. Palladium passed the $1,000 per ounce mark in late 2017 for the
first time since 2001. Palladium’s momentum accelerated in 2018, with
its $1,262 price-per-ounce edging close to gold’s $1,282 price by
year-end.Palladium was named by its discoverer William Wollaston in 1803, after the asteroid Pallas.
While the escalating U.S.-China trade war hurt many commodities in
2018, it couldn’t dent palladium’s rise. The white metal is primarily
used in catalytic converters that reduce pollution from gasoline
internal combustion engines (ICEs). Demand for palladium was especially
robust last year, as environmental concerns have prompted a global shift
from diesel to gasoline and hybrid vehicles. Not even the 2018 slowdown
in China’s auto market, the world’s largest, dampened demand.
Palladium (chemical symbol “Pdâ€) is primarily used as an industrial
metal and is considered a “precious†metal along with platinum, gold and
silver. Both palladium and platinum are far rarer than gold and
represent smaller markets. Recent world production of palladium and
platinum has averaged about 200 and 175 tonnes per year, respectively,
while gold production tallies approximately 3,000 tonnes per year (Read more about Platinum).
Also known as “white gold†or the “bright white metals,†palladium
and platinum are members of the Platinum Group Metals (also known as
“PGMs,†which also include ruthenium, rhodium, osmium and iridium) and
typically co-occur in ore deposits. Their shared chemical origins give
palladium and platinum similar characteristics, such as being relatively
inert and having high melting points – part of their appeal as
catalysts in industrial and automotive applications.
Figure 4. The Automotive Industry is the Largest Pd Consumer – Catalytic Converters
Automakers, who have little flexibility to produce cars without
palladium, are being forced to push the price higher to secure their
critical supply.
Source: Johnson Matthey.
Palladium’s primary application is within the auto sector. Though
historically more expensive than palladium, platinum was long the
primary metal used in catalytic converters, partly because of its
stability at the high temperatures required to achieve the conversion.
However, in the past decade, automakers have developed technology to
achieve nearly the same results with palladium, at a significantly lower
cost, causing the automotive industry to transition to palladium.
While palladium is also used in jewelry, electronics, chemical and
dental applications, the automotive industry’s need for catalytic
converters is the primary factor driving palladium demand. If
palladium’s price continues to outpace platinum’s, automakers may return
to using platinum. However, analysts predict that any move back to
platinum would take at least 18 to 24 months.
Palladium’s Supply Constraints
Supply shortages continue to support palladium’s performance, with
strong multi-year growth in palladium demand now straining a fixed
supply. Palladium is especially scarce and its supply is inelastic since
it is usually a by-product of ores that are being mined for other
metals, like platinum and rhodium. It is rarely mined on its own. Russia
is the world’s largest palladium-producing country, followed by South
Africa, Canada, the U.S. and Zimbabwe.
The official level of palladium reserves in Russia is a state secret
and many industry participants believe that Russia’s stockpiles of
palladium have been largely sold, constraining supply. Supply concerns
were further heightened in April 2018 when the U.S. levied more
sanctions against Russia.
Figure 5. Palladium Mine Production by Country (Metric Tonnes) 2012-2017
Source: U.S. Geological Survey.
Global demand for palladium, net of the supply provided through
recycling, was expected to reach 7.1 million oz. in 2018, exceeding a
total supply of 6.9 million oz. This shortfall extends a seven-year
trend leading to a current total deficit in the market of 801,000 oz.,
according to the chemical company, Johnson Matthey.2
Shifting Automotive Demand but Positive Outlook
While no country has outlawed new combustion engines, Norway, China
and Germany, among many countries, have implemented frameworks to
discontinue long-term ICE production and encourage demand for electric
vehicles (EVs) and hybrid-electric vehicles.
The growth of EVs3 could pose a risk to the palladium sector since
EVs do not require catalytic converters. On the other hand, the rise of
hybrid-electric vehicles could drive palladium demand, since they too
require palladium to control pollution. The mining company Norilsk
Nickel forecasts that combined palladium use in hybrid and plug-in
hybrid — or rechargeable — vehicles in 2019 will be nearly triple that
of 2016.
Today, catalytic converter demand accounts for 70% of the palladium
demand worldwide. While any threat to palladium’s role within catalytic
converters could impact its long-term price outlook, our view is that
palladium’s fundamentals should remain strong for at least the next 24
months.
Posted by AGORACOM-JC
at 12:07 PM on Monday, January 7th, 2019
Transformative acquisition to add approximately 35% to Enthusiast’s rapidly growing revenue base
Company to acquire 100% of the assets of The Sims Resource from Generatorhallen AB and IBIBI HB on an arm’s length basis for US$18 million in cash and US$2 million in stock for an aggregate purchase price of US$20 million
TSR generated C$7 million in revenue and C$5.25 million in Adjusted EBITDA2 Â and approximately C$4.5 million in net income
world’s largest female video gaming content and community destination online.
Sims™ franchise has sold nearly 200 million copies worldwide and is widely considered one of the best-selling video games series of all time.
TORONTO, Jan. 07, 2019 — Enthusiast Gaming Holdings Inc. (“Enthusiast†or the “Companyâ€) (TSXV: EGLX), is pleased to announce that it has, through a wholly-owned subsidiary, signed a definitive agreement on January 3, 2019 (the “Agreement“) for the Company to acquire 100% of the assets of The Sims Resource (“TSRâ€) from Generatorhallen AB and IBIBI HB (the “Vendorsâ€) on an arm’s length basis for US$18 million in cash and US$2 million in stock for an aggregate purchase price of US$20 million (the “Purchase Price“).  Thirty percent (30%) of the Purchase Price is payable on closing and the balance payable by the first anniversary date of closing, subject to certain customary adjustments (the “Transaction“). Completion of the Transaction is subject to satisfaction of a number of customary conditions, including the approval of the TSX Venture Exchange and is expected to close prior to February 15, 2019.
THE SIMS RESOURCE
Established in 1999, TSR (www.thesimsresource.com)
has grown to become the world’s largest female video gaming content and
community destination online.1 The website offers custom content built
around the popular Sims™ video game franchise, which can be downloaded
by users to alter and/or expand gameplay. Published by Electronic Arts,
The Sims™ franchise has sold nearly 200 million copies worldwide and is
widely considered one of the best-selling video games series of all
time.
“The Sims Resource is one of the largest video game communities,
ranking in the top 5 independent sites in total views in the US, Canada
and the UK. It currently generates more than 10% of the total views of
Twitch.com, the largest video game website, which was acquired by Amazon
in 2014 for approximately US$1 billion,” said Menashe Kestenbaum, CEO of Enthusiast Gaming (Source: Comscore Media Metrix Multi-Platform/®, Games – Gaming Information, Total Views, November 2018, U.S., Canada, U.K.). “Further, with the rapidly growing female video game segment, TSR provides us with immediate reach into this valuable audience.â€
TSR is the largest female video gaming content site in the world
generating in excess of 2.5 billion page views per year (Google
Analytics);
Comscore’s Gaming Information category currently ranks TSR in the top 5 independent video game websites;
The site ranks #7 on Quantcast’s Top 25 websites with the highest
concentration of female audience in the United States, closely behind
Oprah.com and Bravotv.com (Quantcast, Top 25 websites with the most
female audience, 2017);
In 2018 TSR generated C$7 million in revenue and C$5.25 million in
Adjusted EBITDA2 and approximately C$4.5 million in net income
(CohnReznick LLP unaudited “Quality of Earnings†report prepared for
Enthusiast); and
Approximately 60% of revenue is derived from advertising with 40% received from monthly recurring subscribers.
“We see three key growth opportunities associated with this acquisition,†Kestenbaum continued. “Initially
we intend to drive significant organic growth in advertising revenue
via direct sales, an area of strategic importance to Enthusiast in
recent months. Further, we now have an opportunity to monetize with
advertisers seeking a large female video game audience. Finally, TSR’s
subscription model has the potential to add considerable revenue across
our entire portfolio.â€
TRANSACTION TERMS
As consideration for the acquired assets, Enthusiast will pay, at
closing, an initial amount of US$4 million in cash and US$2 million in
common shares in the capital of the Company valued at C$1.00 per share;
The Company will pay a deferred payment (the “Deferred Paymentâ€) of US$14 million on or before the first anniversary of closing;
Enthusiast will enter into a transition services agreement, pursuant
to which the Vendors will manage, operate and administer the acquired
assets and in particular the relationships with the TSR community for a
period of up to one year;
Until the Deferred Payment is made, the Company has agreed on a
profit-sharing split of 70% in favour of the Vendors, which decreases
proportionally if the Company elects to prepay a portion of the Deferred
Payment; and
Pursuant to the Transaction, the Company will acquire all of the
assets related to TSR, including, but not limited to, customer and
supplier lists, trade names, business goodwill, intellectual property,
software, the domain name, website content, social media accounts and
the Company will not assume any liabilities or obligations of the
Vendors outside of those normally assumed in relation to employment and
certain other contractual obligations.
The acquisition of TSR is the largest acquisition to date for
Enthusiast and follows the successful completion of seven strategic
acquisitions in 2018. The Company anticipates that it will need to
secure financing in order to meet the Deferred Payment. The Company
expects to continue to grow through a combination of organic growth and
acquisition utilizing its balance sheet as well as being opportunistic
with respect to additional equity and/or debt financing to execute on
its defined growth strategy.
About Enthusiast
Founded in 2014, Enthusiast is the fastest-growing online community
of video gamers. Through the Company’s unique acquisition strategy, it
has a platform of over 80 owned and affiliated websites and currently
reaches over 75 million monthly visitors with its unique and curated
content. Enthusiast also owns and operates Canada’s largest gaming expo,
Enthusiast Gaming Live Expo, EGLX, (www.eglx.ca). Over 30,000 people attended EGLX in October 2018. For more information on the Company, visit www.enthusiastgaming.com.
This news release contains certain statements that may constitute
forward-looking information under applicable securities laws. All
statements, other than those of historical fact, which address
activities, events, outcomes, results, developments, performance or
achievements that Enthusiast anticipates or expects may or will occur in
the future (in whole or in part) should be considered forward-looking
information. Such information may involve, but is not limited to,
comments with respect to strategies, expectations, planned operations
and future actions of the Company. Often, but not always,
forward-looking information can be identified by the use of words such
as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or
variations (including negative variations) of such words and phrases, or
statements formed in the future tense or indicating that certain
actions, events or results “may”, “could”, “would”, “might” or “will”
(or other variations of the forgoing) be taken, occur, be achieved, or
come to pass. Forward-looking information is based on currently
available competitive, financial and economic data and operating plans,
strategies or beliefs as of the date of this news release, but involve
known and unknown risks, uncertainties, assumptions and other factors
that may cause the actual results, performance or achievements of
Enthusiast to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors may be based on information currently
available to Enthusiast, including information obtained from third-party
industry analysts and other third-party sources, and are based on
management’s current expectations or beliefs regarding future growth,
results of operations, future capital (including the amount, nature and
sources of funding thereof) and expenditures. Any and all
forward-looking information contained in this press release is expressly
qualified by this cautionary statement. Trading in the securities of
the Company should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
The securities of the Corporation have not been and will not be
registered under the United States Securities Act of 1933, as amended
and may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirement. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
____________________ 1 See Comscore Media Metrix Multi-Platform and Quantcast report referenced below.
2 Adjusted EBITDA as used by the Company means earnings before
interest and financing costs (net of interest income), income taxes,
depreciation and amortization, stock-based compensation, restructuring
and other non-recurring costs, and non-controlling interests. Adjusted
EBITDA is a non-IFRS measure. Enthusiast believes this non-IFRS
financial measure provides useful information to both management and
investors in measuring financial performance, the ability to fund future
working capital needs, to service outstanding debt, and to fund future
capital expenditures. This measure does not have a standard meaning
prescribed by IFRS and therefore may not be comparable to similarly
titled measurers presented by other publicly traded companies and should
not be construed as an alternative to other financial measures
determined in accordance with IFRS.
Posted by AGORACOM-JC
at 10:41 AM on Monday, January 7th, 2019
SPONSOR: Esports Entertainment $GMBL – Esports audience is 350M, growing to 590M, Esports wagering is projected at $23 BILLION by 2020. The company has launched VIE.gg esports betting platform and has accelerated affiliate marketing agreements with an additional 42 Esports teams, bringing total to 176 Esports teams. Click here for more information
—————-
Twitch Sees Significant Growth From In Real Life Streaming in 2018
By The Numbers
Total Hours Watched in 2018: 540M (IRL and Just Chatting).
Total Hours Watched in 2017: 207.96.
Most-Watched Day: June 3 with 2.43M hours watched.
Peak CCV: 159.69K on May 29 when Bethesda released a Fallout teaser on its official channel.
Most-Watched IRL Channel: Chance “Sodapoppin†Morris with 49.85M hours watched.
Most-Watched Just Chatting Channel: Chance “Sodapoppin†Morris with 8.26M hours watched.
Twitch’s
“In Real Life†or “IRL†category experienced a huge re-work in the fall
of 2018 as the platform realized that more streamers were not only
using it, but using for a plethora of different reasons.
At the end of September, the category
was divided into several new categories including “Just Chatting,â€
“Sports and Fitness,†“Special Events,†“Food & Drink,†and “Talk
Shows & Podcasts.†Before that point, IRL content on Twitch
consistently drew some of the strongest viewership week-to-week in 2018
and regularly competed with some of the most-watched games on the
platform.
Despite the division of one of
Twitch’s most-watched categories, the momentum of IRL wasn’t stalled. If
anything it served as a catalyst for its growth. As soon as IRL was
divided, “Just Chatting†emerged as one of the most popular forms of
content. Streamers regularly began streams by “Just Chatting†with their
viewers before they started to get into whatever game they were
playing.
Some streamers like Chance “Sodapoppin†Morris even began to expand the scope of what the category could be,
and despite just three months of existence, the Just Chatting category
on Twitch managed to sneak into rankings as one of the top 10 most-watched types of content for all of 2018.
When combined with the success of IRL prior to it’s extinction, the two
personality-driven forms of content made up 540M hours watched on
Twitch, enough to be the third most-watched category on the platform.
It wasn’t solely Just Chatting that
saw use on the platform either. While Just Chatting was by far the most
used subcategory, the other 12 categories that were born from IRL
elicited airtime from streamers.
Year-Over-Year
Even though IRL was removed from
Twitch on Sept. 26, its 388M hours watched was enough to deliver a
massive year-over-year net positive for the category. Without even
existing the last three months of the year, IRL had around 180M more
hours watched in 2018 than it did in 2017 (207.96M). In just three
months, the Just Chatting category alone drew 151.17M hours watched.
The exponential growth of IRL
justified its division into sub-categories, but even after the split,
Just Chatting averaged more hours watched per month than IRL. As more
streamers look to grow their viewership by maintaining interactive
communities, the necessity to “just chat†with subscribers and fans has
become increasingly important.
Unlike many forms of entertainment,
Twitch is most known for its game-driven content and its interactive
interfaces. The maturation of Just Chatting and IRL is the most tangible
sign of Twitch’s continued growth. Despite its short life, viewership
for Just Chatting notably increased in 2018. That was paired with a
significant increase in total airtime as well—a sign that influencers
are aware of the trend.
Influencer Impact
IRL is all about the influencer;
there isn’t much in the way of esports that comes with “real lifeâ€
content unless its a Twitch personality giving their thoughts about a
recent gaming tournament. Morris seems to have mastered the art of
interacting with his viewers in a unique and personal way that keeps
them coming back. Not only was he the most-watched IRL streamer, but he
led the Just Chatting category once it came into existence. In fact, his
channel accounts for eight of the top ten IRL or Just Chatting sessions
in 2018.
As more streamers continue to use
Just Chatting—as well as Twitch’s other non-game specific channels—as a
way to interact with their chatroom and grow a sense of community among
viewers, the opportunity for personal growth and increased sponsorships
will proliferate throughout the platform.
While the battle royale craze and Fortnite
have dominated Twitch in 2018, the life of any specific game as a form
of personality streaming content is historically limited. As Twitch
evolves, the personalities that thrive are the ones that are able to
adapt and maintain viewership with their personality—not just their
skill at a specific game. This new category’s success and rapid growth
are an indication that streamers are becoming privy to the opportunities
that are associated with…well…just chatting.
Posted by AGORACOM-JC
at 8:40 AM on Monday, January 7th, 2019
Announced today that it has been awarded a contract for a 900 kW plasma torch system for more than CAD $1MM.
This contract was won in a competitive bid put out by RISE Energy Technology Center AB of Sweden
MONTREAL, Jan. 07, 2019 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® high-tech company, (the “Company”, the “Corporation†or “PyroGenesis”) a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has been awarded a contract for a 900 kW plasma torch system for more than CAD $1MM. This contract was won in a competitive bid put out by RISE Energy Technology Center AB of Sweden (the “Client†or “RISEâ€).
The invitation to participate was announced on November 11th, 2018
and the deadline for submitting applications was December 12th, 2018.
Technical and commercial discussions took place in Sweden December
18-21st, 2018. The competition was narrowed down to two other companies
besides PyroGenesis. The 10-day standstill period, in which participants
could contest the decision based on procedure, expired January 2nd,
2019, and as such the contract was awarded to PyroGenesis. The Client
and PyroGenesis are now in the process of finalizing contract terms. The
torch is scheduled to be delivered by Q3 2019.
Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides further information in the following Q&A format:
Q. You announcedtoday a 900KW torch systemsale. What doesthis mean for theCompanyexactly?
A. This is a giant step forward for PyroGenesis and its torch sale strategy, for three reasons.
First, we won this contract against stiff competition. One was a
European powerhouse, and the other was a local company. Being the only
non-European competitor did not help either. We were determined to win
this contract, and not sacrifice our margins, and we did.
Second, as you know, we are plasma torch experts, and have sold
plasma torches in the past. Our main lines of business typically use
torches between 10-550 kW so that is what we typically sell as well.
However, there is a significant market for high powered plasma torches (
~ 1 MW range), and one we have targeted for some time now.
Notwithstanding the fact that our businesses do not use 1 MW torches, we
developed this capability in-house, with support from the Canadian
National Research Council, with our eyes set on addressing this market.
This announcement today is the first step in that direction.
Third, we announced on October 26, 2017 that we were granted two US
patents, one of which was a torch patent targeting this exact
application.
Q.Andwhatapplication is that?
A. Iron ore pelletization.
It is a process in which fossil fuel burners are typically used in
abundance. Fossil fuel burners are naturally bad for the environment in
that they generate greenhouse gases. Amongst its many advantages,
PyroGenesis’ Plasma torches do not.
We are extremely happy to be working with RISE on this project as we
share many of their views and values. Sweden is committed to becoming a
zero-carbon dioxide emission society and, as such, is developing fossil
free technologies across all sectors. This contract is aimed at
developing fossil-free energy-mining-iron-steel value chains and thereby
provide a basis for governance and industrial strategies for
transformative change across all of Sweden.
We are proud to be part of this initiative by providing our patented torch technology (US patent #9,752,206 entitled Plasma heated furnace for iron ore pellet induration) as a basis for this change.
Q. When do you thinkyou will conclude the contract?
A. Within the next six weeks.
Q. Anyrisk itwon’t be signed?
A. There are always risks, but we are highly confident it will be signed. Maybe even sooner than what we expect.
Q.Lastbutnotleast,what is yourgoalfor this market?
A. We have one of the largest
concentrations of plasma expertise under one roof. We make some of the
most unique plasma torches in the world. We run torches on air, oxygen,
argon, helium, and even water which is quite uncommon. Our torches are
compact, lightweight, easy to operate, fully-automated, with high levels
of safety, and impressive reliability. PyroGenesis torches can operate
for extremely long periods without maintenance, and they can easily
restart without manual intervention.
Winning this public tender not only speaks to our capability of
meeting existing needs, but also to our ability to develop new plasma
torches for unique and demanding situations.
We have effectively expanded our plasma torch offerings to now
include high powered plasma torches and, as such, we expect to very
quickly become a significant player in this market segment.
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward- looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Corporation’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’s ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com,oratwww.otcmarkets.com.Actualresults,events,and
performance may differ materially. Readers are cautioned not to place
undue reliance on these forward-looking statements. The Corporation
undertakes no obligation to publicly update or revise any forward-
looking statements either as a result of new information, future events
or otherwise, except as required by applicable securities laws. Neither
the TSX Venture Exchange, its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) nor the OTCQB
accepts responsibility for the adequacy or accuracy of this press
release.
3 Reasons Why India Will Be A Leader in the EdTech Industry in the 21st Century
According to a joint report by KPMG and Google, the online education industry is expected to grow at a healthy rate of 8 times to become a $1.96B industry by 2021
Five categories of education in India have been cited as the ones with great potential for considerable online adoption
According to a joint report
by KPMG and Google, the online education industry is expected to grow
at a healthy rate of 8 times to become a $1.96B industry by 2021. Five
categories of education in India have been cited as the ones with great
potential for considerable online adoption. These include primary and
secondary supplemental education, test preparation, reskilling and
online certification, higher education, and language and casual
learning.
The important question here is – what’s driving the considerable
growth of education technology in India? Well, the following are the 3
key reasons why India will be a leader in EdTech in the 21st century:
E-learning Boost via the Digital India Initiative
With an aim to transform the country into a digitally empowered
society, the Indian government launched The Digital India Initiative.
This was a huge move that had a substantial impact on the country’s
technology industry, bringing a wave of revolution in every aspect. The education sector is one of the sectors that are benefiting from this initiative.
To boost e-education, all schools and universities are set to be
connected with broadband and free Wi-Fi. Also to be put in place is a
Digital Literacy Program, as well as the development of pilot Massive
Online Open Courses. Once the goals of the Digital India Initiative are
realized, India will certainly be ahead in the EdTech game.
Vast User Base of Mobile Device Use
There are more than 850 million mobile phone subscribers in India.
According to a report by the Internet and Mobile Association of India
(IAMAI), mobile internet is largely used by youngsters. With an increase
rate of over 10M users a month, there’s no doubt that mobile devices
are the classrooms of tomorrow. Current user base for e-learning
predominantly consists of school students and working professionals.
Not only are Indians realizing the potential for mobile learning, but
major technology and publishing companies are also increasingly
becoming aware of the potential of the education services delivered
through mobile services. So, it’s only a matter of time and there will
be a gold rush into the Indian mobile education market that will put the
country at the top as far as EdTech is concerned.
Low Cost Alternative to Offline Learning
Even though the average tuition for online courses varies from one
program to another, it’s clear like night and day that online courses
are much cheaper compared to the ones offered in classroom settings.
Online skill enhancement courses are estimated to be about 53% cheaper
compared to offline alternatives. Larger student base and lower
infrastructure cost help leverage on the economies of scale, thus the
reduced costs via the online channel.
It’s apparent that the EdTech industry in India is one of the
blooming sectors with a lot to offer to stakeholders. There’s no doubt
that edtech will undergo an evolution and set the stage for the
momentous growth that will be witnessed in the forthcoming years not
just in India, but all around the world.
Posted by AGORACOM-JC
at 10:09 AM on Friday, January 4th, 2019
Announced the appointment of Alan Alden to the Board of Directors
Mr. Alden has been a specialist in advising remote gaming companies located in Malta since 2000, when he advised the first remote gaming companies as the Senior Manager of Enterprise Risk Services at Deloitte & Touche (Malta)
BIRKIRKARA, Malta, Jan. 04, 2019 — Esports Entertainment Group, Inc. (GMBL:OTCQB) (or the “Company”), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce the appointment of Alan Alden to the Board of Directors.
Mr. Alden has been a specialist in advising remote gaming companies
located in Malta since 2000, when he advised the first remote gaming
companies as the Senior Manager of Enterprise Risk Services at Deloitte
& Touche (Malta). In 2006 Alan set up Kyte Consultants Ltd, a
company that specialised in the remote gaming and payment card sectors,
to assist companies located in Malta. In 2009, Alan became a founding
director in Contact Advisory Services Ltd, a licensed Company Service
Provider (CSP) that offers a complete service to its customers, from
company incorporation, to licensing for gaming and financial
institutions.
Since 2010, Alan has served as the General Secretary of the Malta
Remote Gaming Council. Alan is a certified CISSP and CISA. Alan was also
the founding President of the ISACA Malta Chapter between 2005 -2008.
In 2015, Alan became a Part Time Lecturer on IT Auditing at the
University of Malta.
Mr. Alden stated, “I am very pleased to have been offered this
opportunity by Esports Entertainment Group, as they are an ambitious
company with vision, a solid strategy and an exciting and unique product
offering. I look forward to working with the team and hope I am able to
assist them in achieving their objectives.â€
Grant Johnson, CEO of Esports Entertainment Group stated, “Alan’s
experience in finance, Gambling and regulatory matters make him uniquely
qualified as a board member for our company. We are excited to have him
join our Board, as he will be a major asset in our future plans.â€
ABOUT VIE.GG
vie.gg
offers bet exchange style wagering on esports events in a licensed,
regulated and secured platform to the global esports audience, excluding
jurisdictions that prohibit online gambling. vie.gg features wagering on the following esports games:
Counter-Strike: Global Offensive (CSGO)
League of Legends
Dota 2
Call of Duty
Overwatch
PUBG
Hearthstone
StarCraft II
This press release is available on our Online Investor Relations
Community for shareholders and potential shareholders to ask questions,
receive answers and collaborate with management in a fully moderated
forum at https://agoracom.com/ir/EsportsEntertainmentGroup
Redchip investor relations Esports Entertainment Group Investor Page: http://www.gmblinfo.com
Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds licenses to conduct online gambling and 18+ gaming on a global basis in Curacao, Kingdom of the Netherlands and the Kahnawake Gaming Commission in Canada. The Company maintains offices in Antigua, Curacao and Warsaw, Poland. Esports Entertainment common stock is listed on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com.
FORWARD-LOOKING STATEMENTS The
information contained herein includes forward-looking statements. These
statements relate to future events or to our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place undue
reliance on forward-looking statements since they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements. Any
forward-looking statement reflects our current views with respect to
future events and is subject to these and other risks, uncertainties and
assumptions relating to our operations, results of operations, growth
strategy and liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those anticipated
in these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking statements
contained in the Securities Litigation Reform Act of 1995 protects
companies from liability for their forward-looking statements if they
comply with the requirements of the Act.
Posted by AGORACOM-JC
at 8:55 AM on Friday, January 4th, 2019
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companies which are both defensible and mass scalable. More than just
lip service, Inwentash has financed many of Canada’s biggest small-cap
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—————–
Falling Crypto Prices Aren’t Stopping Real Blockchain Progress
While public exchanges have been consolidating their hold on the market, private blockchains are getting to work by delivering real business value for enterprises.
Paul Brody is EY’s global innovation leader for blockchain. The views expressed are his own.
The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.
Plunging cryptocurrency values in 2018 and the collapse of the
money-for-nothing white paper market in initial coin offerings (ICOs)
took much of the focus last year for many people when it came to
blockchain mindshare.
All of that marketplace drama, however, concealed an enormous amount
of real progress for the technology that will, slowly but surely, lay
the foundation for a robust revival of the blockchain markets in the
future.
Over the last year, the market did provide lots of drama related to
ICOs. Nearly a quarter of all the ICOs from 2017 lost most of their
value, and the market as a whole declined by nearly two- thirds.
The first half of 2018 was no better. There were nearly 1,000 ICOs
every month, but only 5% of them raised more than $1 million – with one,
EOS, raising around $4 billion.
Not only did the bulk of the money raised go to a very small number
of the ICOs, but nearly every aspect of the world of blockchain also
became more consolidated and, dare I say, centralized, in 2018 – rather
counterintuitive for blockchain, since decentralization is at its core.
Public blockchains consolidate
According to a study
by EY that examined the ICOs’ progress and investment
returns, ethereum, which is the dominant platform and shows the highest
activity among developers and on social media, became even more
dominant, with more than 95% of all ICOs and funds raised.
The market for exchanges consolidated rapidly as well, with 73% of
daily trading volume in the first half of the year taken by the top 10
exchanges. Though the full-year numbers are yet to be updated, that
trend seems set to continue.
The biggest exchanges are consolidating their positions in part by
rapidly maturing their processes and approach to regulatory compliance.
Know-your-customer procedures are being tightened and many of the big
exchanges are, or soon will be, audited by some of the major financial
services organizations (EY included). These same exchanges have been
beefing up their security as well, with fewer large-scale thefts in 2018
than in 2017.
Another big trend last year in the world of public blockchains was
the surge in popularity of stablecoins of all kinds, mostly based on
fiat currencies. While stablecoins offer some advantages, including
stability, they do raise the single most important question remaining
for public blockchains: why are they useful?
Parking money in a stablecoin is beneficial if it’s between
investments or purchases as a way to avoid volatility, but it’s not a
very good investment in and of itself. The purpose of capital markets is
to allocate capital to productive uses and, at least for the moment,
that doesn’t seem to be happening. For public blockchains in 2019, this
is the single most important question.
Private blockchains deliver
While public exchanges have been consolidating their hold on the
market, private blockchains are getting to work by delivering real
business value for enterprises. At EY, a number of systems entered
production status, including our software licensing solution with Microsoft and a maritime insurance joint venture with Maersk and Guardtime.
Looking at the enterprise space, there are three key learnings from the work with blockchain in 2018.
First and foremost, the biggest rule in blockchain seems to be: “If
it ain’t broke, don’t fix it.†Over and over again, when companies are
working on projects where blockchain seemed to be an excellent fit, they
did not move forward because they already found a solution to their
problem. Despite the fact that blockchain in nearly every case would be
better, that isn’t necessarily enough to justify replacing already
existing processes, given the cost and risk.
Second, and very closely related to the first learning, is the
primacy of solving real problems. While chief innovation officers
sometimes love to do blockchain proofs of concept, the technology is far
past that. It’s all about the focus on productizing and solving
solutions for line-of-business executives — with real ROI. If one can,
with confidence, point to an ROI from a solution, then there’s no need
to worry about which blockchain platform or future comes to pass. There
is a return from this investment, no matter what.
Finally, and perhaps most importantly, it is clear that companies are
prioritizing operations before finance. While tracking products and
assets as they move through the supply chain is useful, there are a lot
of financial services that could add value, from the very simple
approach “payment upon delivery,†to complex services like factoring
receivables and trade finance.
However, in most cases, companies want to achieve confidence in their
operational systems before closing the loop with payments and financial
services, a challenge they will start to take up at the start of 2019.
