- 2018 is expected to bring further fintech growth worldwide
- Global Payout services empower global industries through chain finance solutions
- Global Reserve Platform and new subsidiary will target logistics and shipping payment needs
As fintech industries enter the new year, corporate entities building blockchain capacity such as Global Payout, Inc. (OTC: GOHE) are looking for blue sky opportunities in the rising popularity of cryptocurrency as a means of financing international commerce, as well as providing e-commerce accessibility to the most remote of rural enterprises.
A Forbes report found that political-economic uncertainty over recent governments’ efforts to limit foreign influences and tie their administrations more closely to localized nationalist sentiments may drive further interest in cryptocurrencies that businesses can use to break down cross-border barriers (http://cnw.fm/amjK5). Expatriates from a variety of countries are turning to blockchain-powered fintech companies to send funds earned from their employment homes to loved ones in their nation of origin.
Amid the ongoing sea change in the global payment industry as institutions seek ways to boost instantaneous transnational accessibility and lower cross-border transaction-related costs, Global Payout is expressing excitement about an “especially active, yet successful” year for the company and its majority-owned subsidiary, MoneyTrac Technology, Inc., which is establishing a crypto-financial network geared toward the regionally legalized recreational cannabis industry.
Last year, Global Payout launched the Global Reserve Platform (“GRP”), which it describes as a customizable, “banking-in-a-box” system that offers resources for front-to-back office processing in domestic, foreign exchange and international payment services (http://cnw.fm/Op5ND). In December, the company announced plans to launch a new subsidiary early this year focused on delivering chain finance solutions for the logistics industry. The new subsidiary will use a single client interface to simplify payments on a domestic and foreign exchange level and to eliminate barriers for working capital financing.
“Blockchain technology has the potential to lead a major shift in the systems that are used to manage every process that is involved with managing the logistics supply chain. By spinning-out a subsidiary whose sole focus will be on advancing the development of a secure and highly-efficient blockchain system, I am confident we will be able to deliver an intuitive logistics network that will contribute to revolutionizing the entire industry,” company President William Rochfort stated in a news release announcing the plans (http://cnw.fm/64qYk).
The news release states that the United States is increasingly dependent on global supply chains for goods and services and that freight movement and related logistics comprise a $1.5 trillion industry in that nation alone. Global Payout’s experience with blockchain technology is something it can leverage in providing solutions to a massive industry struggling to keep up with the demands on software systems that such a wide-reaching supply network creates.
The success of cryptocurrencies, even amid recent market fluctuations in bitcoin trading (http://cnw.fm/e6AzL), shows a worldwide market eager to embrace alternatives to standard banking options and the dissonance between nations’ currencies. Cannabis-related industries, in particular, see cryptocurrencies as an essential part of their commerce, since many countries, including the United States, continue to regard the drug as potent enough to regulate or ban despite acceptance in select regions on a more localized government basis (http://cnw.fm/9rJ4S), which shuts them out from bank industry benefits. GOHE’s MoneyTrac spinoff is positioned to handle regulatory compliance and the transaction tracking needs for these companies. Working with affiliated partnerships, MoneyTrac empowers cannabis industry merchants to access an audited, legally compliant financial system.
For more information, visit the company’s website at www.GlobalPayout.com
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