Many financial entities around the world are keeping a close eye on Bitcoin, and more specifically, blockchain technology. There is a simple reason for that, as blockchain technology offers a much more convenient and far cheaper infrastructure than most companies are using right now. Yet that doesn’t make blockchain technology accessible to the everyday consumer just yet.
Blockchain Technologies Corporation
It will come as no surprise to find out there are quite a few blockchain-related companies who are trying to cater to both technology enthusiasts, and investors looking for the “next big thing”. In the case of Blockchain Technologies Corporation, this company acts as an early-stage investor, incubator and seed accelerator program.
With so many Bitcoin startups trying their hand at making blockchain technology more accessible for the everyday consumer, a lot of investment funds are flowing into the world of digital currency. Blockchain Technologies Corporation is doing exactly that, as they feature a number of innovative blockchain-related startup companies.
Considering the fact that we are only discovering the very tip of the iceberg that is representing potential use cases for blockchain technology, there is a lot of room left for more Bitcoin startups. However, not all of them represent a viable idea that can be marketed towards a mainstream audience, as you may have read in our BitHack V2 winners article.
That being said, Blockchain Technologies Corporation currently owns several of these startup companies involved in developing blockchain use cases. Even though the number of companies is still limited, names such as Blockchain Apparatus, DAVE, Overseas BC Marketing and Cryptos will ring a bell for some of our readers.
Acquisition By Global Arena Holding, Inc.
When a company such as Blockchain Technologies Corporation starts making moves in the financial sector, its success does not go unnoticed. Earlier this week, Global Arena Holding, Inc. acquired Blockchain Technologies Corporation, and the plan is to merge both companies to create a new platform.
Under the agreement signed by both parties, Blockchain Technologies Corporation will merge with Global Arena Holdings, Inc Acquisition Corp, and the latter name will be the name of this hybrid company. Shareholders who own shares in Blockchain Technologies will receive the fair share of 1/3rd of Global Arena Holdings, Inc. shares.
Furthermore, GAHI Acquisition Corp. will be capitalized with US$1.25m plus an amount equal to an outstanding bridge loan. All of these funds will be used to incorporate the blockchain business model and technologies into the new hybrid company. Additionally, said outstanding debt will also be repaid with the remainder of the funds.
Due to the nature of this agreement, 4 provisional patent applications – all focusing on material improvements upon rudimentary Bitcoin blockchain technology – will fall into the hands of GAHI Acquisition Corp. A full list of these provisional patents can be found in the official press release.
“We’re delighted with the GAHC proposed merger as it will enable us to compensate developers with a publicly traded stock, and we are further inspired by the knowledge that as a function of this proposed merger, the public can now participate in a company with Blockchain technology.” – Blockchain Technologies Corporation CEO Nick Spanos told DigitalMoneyTimes.
Images courtesy of Blockchain Technologies Corp, Global Arena Holding Inc, and Shutterstock.