Business
Vemanti Group Sets Corporate Focus On Blockchain Technology And Cryptocurrency
Vemanti Group Sets Corporate Focus On Blockchain Technology And Cryptocurrency.
About this update from Vemanti Group Inc.
[{"type":"text","content":"\n\n NEWPORT BEACH, Calif., Nov. 13, 2017 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven holding company, today announced that it has made a strategic realignment in corporate direction to focus purely on blockchain technology. Fundamentally, the Company’s business model as an investor and operator in emerging technologies remains unchanged. However, structurally it will start dedicating resources solely to cryptocurrency and blockchain-linked projects with a particular emphasis on FinTech and E-Commerce applications.\n At a very high level, blockchain is simply a digital decentralized ledger that keeps a record of all transactions that take place across a peer-to-peer network. Information will no longer be centralized and controlled by a 3rd-party. Blockchain is the technology that enables the existence of cryptocurrency, among other things. Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. It is also the backbone of numerous other cryptocurrencies such as Ethereum and Litecoin. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds. As an underlying technology, blockchain has potential applications far beyond Bitcoin and cryptocurrency. Globally, companies and financial institutions are actively exploring how they could also use blockchain technology to build next-generation business software. Tan Tran, CEO of Vemanti, commented, “Blockchain technology is the biggest innovation after the internet. Like the internet before it, blockchain promises to upend business models and disrupt industries. We see blockchain as a foundational technology, thus making it our technology focus in our investment and acquisition plans from this point forward. Immediately, we will also start looking at making investments in Bitcoin, Ethereum, and Litecoin.” As the greatest impact of blockchain will be seen in the financial service industry, the Company’s objective is to get involved in the blockchain ecosystem early with a primary focus in FinTech and E-Commerce applications where consumer-to-consumer, business-to-consumer, and business-to-business transactions can be conducte...