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EPAZ Recent Developments in the Blockchain and Cryptocurrency Markets

NEW YORK, NY /PRNewswire/

The global blockchain market is projected to witness a significant CAGR of 71.46 % during the forecast period and reaching a total market size of USD 4.401 billion by 2022 or increasing from USD 0.297 billion in 2017. The research indicates that a major factor contributing to the growth of the market is the adoption of distributed-ledger technology among various applications such as payments, smart contracts, exchanges, digital identities, and documentation. Additionally, the empowerment and development of the banking sector in the less developed and emerging markets is expected to support the growth of the blockchain market.

Epazz Inc. (OTC: EPAZ) is a leading provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced recently that the company has acquired the Play Store app Tap Tap Bitcoin Clicker, which has been downloaded more than 24,000 times. Tap Tap Bitcoin Clicker joins Epazz's growing portfolio of cryptocurrency mobile apps. Over the past six months the company has acquired CryptoFolio, Bitcoin Alticoin Tracker and Bitcoin Charts. The development team has been working on combining the apps to allow users to access in-app purchases. Tap Tap Bitcoin Clickers allows Epazz to cross sale its other CryptoFolio and educates newcomers on the power of blockchain. "Cryptocurrency is still in its early stages [and] the technology has not been fully utilized," said Shaun Passley, PhD, CEO of Epazz Inc. "We need [to] quickly enter into the market and provide the market with cutting-edge technology to build and grow a user base, [and] Tap Tap Bitcoin Clicker will help us."

Cryptocurrencies are virtual currencies with no physical form and without a central authority like the Federal Reserve. Without blockchain technology, there would be no cryptocurrencies like Bitcoin or Ethereum. The various cryptocurrencies are created by a process called "mining", the main purpose of which is adding transaction records to the public ledger. According to a recent report from Coherent Market Insights, the global cryptocurrency mining market was valued at USD 610.91 million in 2016 and is expected to reach USD 38.38 billion by 2025, growing at a compound annual growth rate of 29.7 percent over the forecast period.