According to a report from Grand View Research, the global blockchain technology market size is expected to reach USD 7.59 Billion by 2024 while growing at a compound annual growth rate (CAGR) of 37.2% during the forecast years. Blockchain technology is considered as an electronic transaction-processing and record-keeping system, which eliminates the need for third-party verification. The technology helps facilitate faster settlement, enhanced security and provided greater efficiency. The blockchain industry is still in the development phase and further technology advancement would fuel the market growth. The public blockchain network segment is one of the fastest growing sectors and is expected to have a CAGR of 39.2%. Victory Square Technologies Inc. (OTC: VSQTF), Mitek Systems, Inc. (NASDAQ : MITK ), Gopher Protocol Inc. (OTC: GOPH), ShiftPixy, Inc. (NASDAQ : PIXY ), Pareteum Corporation (NYSE : TEUM )
Interest in blockchain technology continues to increase. According to a survey conducted by Deloitte, nearly 40% of more than 1,000 global executives said that their organization will invest USD 5 Million or more in blockchain technology in the coming year. 74% of respondents report that they see many of their organizations adopting the technology. About 34% of that number say their companies have been working on some blockchain system, while 42% of them say their companies plan to build their blockchain application within the next 12 months.
Victory Square Technologies Inc. (OTCQX: VSQTF) also listed on the Canadian Securities Exchange under the ticker (CSE: VST). Earlier last week, the Company announced, “A dynamic new technology and promotional partnership between its portfolio company FansUnite Entertainment Inc. (“FansUnite”) and the Leicester City Football Club, the 2016 English Premier League Champions.
The partnership will introduce the FansUnite brand to Leicester City FC supporters through targeted promotions and co-branded activations both in and outside the stadium.”
“Leicester City FC is a truly special story and a premier global sports brand,” said FansUnite CEO, Darius Eghdami. “Not only are The Foxes one of just six clubs to hoist the Premier League Trophy since its inception in 1992, they are at the forefront of innovation, incorporating new technology to help improve player performance and fan engagement.”
Eghdami added: “Partnering with a globally-recognized brand such as Leicester City that shares our commitment to improving conditions for sports fans through the application of new technology was a natural fit and a win-win for both companies.”
FansUnite (http://www.fansunite.com ), a blockchain protocol on target to disrupt and revolutionize the sports betting and sports data markets, is pioneering a tamper-proof and transparent global store for sports data. The FansUnite model will have far-reaching implications in a world that is increasingly conscious of data rights and sports integrity. Sports betting, daily fantasy and betting exchanges will be built atop the FansUnite Protocol.
“FansUnite has set their sights on powerfully transforming the entire sports betting and sports data marketplaces with their proprietary blockchain protocol and we couldn’t be happier to welcome Leicester City to the Victory Square family,” said Shafin Diamond Tejani, CEO of Victory Square. “The global reach and influence of The Foxes will expose FansUnite to millions of sports fans around the world. It serves as a great validation of their continued growth and success.”
The FansUnite sports betting protocol will launch before the end of 2018. It will allow operators and government-run wagering sites around the world to offer bettors lower fees and increased payback percentages directly to the waging public.
“We take the saying ‘Better for Bettors’ seriously,” said FansUnite CEO Eghdami. “FansUnite truly is ‘Better for Bettors.”
In addition to the sportsbook offering, the FansUnite Protocol serves as the blockchain-based infrastructure for sports data applications, daily fantasy sports and a variety of other applications reliant on receiving secured sports data. Following their Series A financing of CAD 4.45 Million, FansUnite has been developing the protocol in preparation for their regulatory-compliant token launch later this calendar year.”
