Financial systems were turned on their heads ten years ago when blockchain was invented. Cryptocurrencies like Bitcoin have shaken up how people make financial transactions. As this fairly new financial system gains popularity, more people want to learn more about these systems for investment purposes or out of general curiosity.
What is Blockchain?
Blockchain is described as “digitized, decentralized, public ledger of all cryptocurrency transactions”. Blockchain works by the public ledger growing as the most recent transactions are recorded and added in chronological order.
This system helps users track all transactions within the network. The most recent transactions which are known as blocks are recorded and added to the network allowing participants to keep track of all network transactions on a personal computer connected to the blockchain network. Each computer receives a copy of the blockchain which is updated automatically with each transaction.
Traditional Banking Versus Blockchain
One of the draws of blockchain is that it offers users a level of transparency lacking in traditional banking systems because all transactions in the network are available for review in real time and on each individual participant’s computer system.
Blockchain’s decentralized setup also makes it more challenging for security breaches and hacking because the system is not held on just one central storage area it is held on each individual market participant’s computer.
Big Banking Names Explore Blockchain
The popularity, as well as the benefits of utilizing blockchain, has received attention from traditional banks. In fact, powerhouse banking institutions like Barclays, HSBC, and JP Morgan Chase are reportedly exploring ways to incorporate blockchain technology into their financial systems.
Even the World Bank has joined the world of blockchain. Over the summer, the World Bank announced that they had launched a “blockchain-only bond”. Known as bond-i, the two-year bond received $80 million from investors which were primarily Australian based banks and treasuries.
The World Bank is touting this as the first blockchain bond of its kind. A spokesperson with the World Bank explained, the bond-i was ‘“offered to a public, global range of investors” and that “what sets bond-i apart from other blockchain projects is that the entire bond process—from creation to allocation and management throughout its two year life cycle—takes place on blockchain.”’
It appears that blockchain’s popularity will continue to grow as more mainstream financial institutions like JP Morgan Chase and the World Bank becomes more comfortable with utilizing blockchain technology. This is great news for blockchain development companies, such as Square Chain Corporation (OTC Pink: SQCC).
Overview Square Chain Corp. (OTC Pink: SQCC)
Square Chain Corporation initially began as Asia Travel Corp and online travel platform and has shifted to a hybrid blockchain development business model.
Square Chain’s Shift to Blockchain
In March of 2018, the company’s board of director’s voted to change the company’s direction and business model and began focusing on blockchain technology. In that same month Small Cap Compliance Company, LLC was appointed the custodian of the company by the Eighth Judicial District Court of Clark County, Nevada.
The following day Jeffrey J. Parker was appointed as the Company’s sole officer and director by Small Cap Compliance. According to a statement released by the Square Chain, “Mr. Parker served in various leadership capacities in the high-tech industry, including Gemesis Corporation, Sterling Semiconductor and a partner in various small business ventures. Mr. Parker is a results-oriented experienced professional providing leadership to sales and operations in the areas of small business and startup environments. Mr. Parker has a proven ability to help nurture start-ups, develop and execute plans into thriving organizations and effectively liaise with relevant stakeholders to accomplish goals and resolve challenges.”
Along with name and leadership changes, Square Chain expanded its blockchain efforts to include industries like real estate, finance, shipping/logistics and healthcare with the company’s main focus being direct response television or DRTV.
Focused on DRTV
DRTV allows advertisers to get a direct response from viewers during programs like infomercials and other interactive sales. A call to action urges viewers to visit a website or call in as part of a sales strategy. DRTV is viewed as an effective sales technique to engage consumers.
Companies like Proactiv, the maker of acne medication, got their start through DRTV. After seeing a compelling infomercial featuring famous celebrities like Britney Spears and Justin Beiber on the benefits of Proactiv consumers would call in or visit a website to purchase the product. Proactiv’s informercials drove significant sales to the company. According to Forbes, Proactiv saw $800 million in sales in 2010. Other products have also been successful using DRTV format. Those products include the George Foreman Grill, Snuggie, and Oxiclean.
Square Chain in Talks With Seasoned DRTV Company
To further their focus in DRTV, the Company recently announced that they are in talks with a veteran DRTV company “to conduct a study to determine potential blockchain applications that can solve operational pain points in his business, as well as the industry in general” according to Square Chain.
While DRTV company remains unnamed Square Chain explains, “[t]he proposed partner for this project has been a well-known participant within the DRTV industry for over 30 years and has successfully managed many projects in these product categories, as well as numerous other categories. This deep experience, along with extensive industry contacts will help the company to mitigate some of the risks associated with a traditional start-up company.”
Square Chain’s venture into the DRTV technology signals the beginning of the company’s revenue generation.
Share Structure Overview
Share Structure: The company currently has 186,248,501 outstanding shares with a micro float of 244,383 shares. The shares have ranged from $0.051 to $1.75 over the last year.
Square Chain’s focus on combining blockchain with DRTV is innovative and positions the company for favorable results. Blockchain transactions offer consumers security for their purchases that other payment method lack which gives Square Chain an advantage in this space.
Furthermore, partnering with a company seasoned in the DRTV industry offers the Square Chain insight and direction in an industry that can be very profitable. With strong leadership, Square Chain Corp. looks to become a major developer of innovative blockchain solutions, while also pursuing revenue-generating strategies. This will help the company fund its blockchain development operations and other ventures.
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