Press Release (ePRNews.com) - Henderson, NV - Aug 16, 2016 - MarilynJean Interactive (MJMI.QB) continues to receive positive feedback from the investment community on its focus on Blockchain technology, the distributed ledger system that underpins Bitcoin and other crypto-currencies. The Blockchain is an enormous distributed database that runs across a global network of independent computers that are not controlled by any government.
Globally recognized audit and professional services firm Deloitte recently published an analysis of the public sector applications of Blockchain technology. In their report, Deloitte identified numerous sectors where Blockchain technology could be used to address inefficiencies and provide added reliability and security. Among these were both physical and intellectual asset ownership records including vehicles, patents and real estate.
Several countries, including Sweden, have begun testing use of the Blockchain ledger and verification system for their national land title registries. In the United States residential housing market alone, roughly $6 Billion of real estate changes hands every month. The integrity of the system that records title for all of these transactions is immensely important. In many developing countries, these systems are incredibly inefficient and open to fraud. Using Blockchain technology, the entire global real estate system could conceivably be digitized and secured by an independently verified, distributed ledger.
How Blockchain Technology Could Revolutionize the Global Real Estate Market
Property transactions could be handled on a Blockchain in a similar way to how payments between parties are handled using Bitcoin. However, instead of assuming that each ‘coin’ is the same, it is possible to associate a unique house or piece of land with a particular ‘colored coin’ and exchange it between parties. The entire transaction history of the property could then be followed through the Blockchain. Using ‘smart contracts’, a feature of digital currencies like Ethereum, which MJMI is also focussing on, asset exchange could follow specific instructions encoded as part of the transaction to be executed automatically once agreed criteria have been met.
Using Blockchain technology could increase the efficiency of transaction processing and reduce, if not eliminate, property fraud.
Peter Janosi, MJMI’s president said: “We continue to receive positive feedback regarding our focus on Blockchain technology and believe we are positioning the company well to participate in how Blockchain technology will completely alter the way billions of dollars of assets change hand every day.”
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances, the trading of futures and options contracts as well as online gambling are on the verge of being revolutionized by the use of Bitcoin and the underlying Blockchain technology to effect transactions.
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company’s trading symbol is MJMI.QB.
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