HENDERSON, NV / ACCESSWIRE / June 10, 2015 / MarilynJean Media Interactive (MJMI) announced today it has expanded its operations into the crypto-currency market with a focus on bitcoin. The Company announced plans to pursue several verticals within the space including operation of a Bitcoin Exchange where users will be able to buy and sell bitcoins, as well as other popular crypto-currencies, and exchange their holdings into a range of international currencies. The Company is also developing plans to partner with a manufacturer of bitcoin Automated Teller Machines (ATMs) whose operation it plans to integrate directly with its trading platform allowing for a seamless, end to end solution for trading and currency conversion either online or in person at an ATM. The current market capitalization of bitcoins in circulation exceeds $3 billion.
Simultaneously, the company is also planning to use its developing expertise and network in the bitcoin space to participate in the multi-billion dollar currency remittance market. The company plans to use the combination of a bitcoin exchange and ATMs to facilitate ultra-low-cost international remittance services. The World Bank projects global remittances to exceed $450 billion in 2015.
Peter Janosi, the company's president said: "With major players across virtually every industry making big bets on crypto-currencies, and bitcoin in particular, we believe our timing is optimal to enter this exciting space. We look forward to updating our shareholders with our progress in building the company's expertise and partnerships in the industry over the coming months."
A crypto-currency is 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.
Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting."
Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK).
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.
SOURCE: MarilynJean Media Interactive