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STVI: Potential Benefits of Blockchain Platform Strategy

11/21/2017
By M. Marin

OTC:STVI

Snap Interactive (OTC:STVI) recently announced a strategy to leverage the benefits of blockchain technology. The blockchain is a decentralized and encrypted “ledger” that offers a secure method to store records and other information in a way that can be verified. Each block in the blockchain contains a hash – a digital fingerprint or unique identifier – and timestamped batches of prior transactions, as well as the hash of the previous block.

The company is an early mover in the space as the blockchain ecosystem continues to evolve. Snap has already begun to incorporate certain facets of blockchain and cryptocurrency technology into its product mix. Management also plans to develop next-generation social applications that leverage blockchain technology.

To further its blockchain initiative, Snap has added former MySpace CEO Michael Jones to its board of directors. According to the company, he is an expert on blockchain. Snap has created a blockchain advisory board and named Mike Jones as the inaugural member. He co-founded and is CEO of Science Inc., a science blockchain incubator that has participated in more than $2.5 billion in successful transactions, including FameBit, which was purchased by Google, and Dollar Shave Club, which was purchased by Unilever for roughly $1 billion, according to trade publications.

Overall, the potential of blockchain technology is expected to be significant. According to IBM, because of the potential to disrupt traditional business methods, “blockchain will do for transactions what the Internet did for information” because “it allows increased trust and efficiency in the exchange of almost anything.”

Snap recently launched Camfrog Live, an enhancement to its existing Camfrog video social networking app. The company believes the exchange of virtual gifts within Camfrog Live could generate substantial revenue and the perceived security of blockchain technology could enhance this opportunity, we believe.

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SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR. 

DISCLOSURE: Zacks SCR has received compensation from the issuer directly or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full Disclaimer HERE.
SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR. 

DISCLOSURE: Zacks SCR has received compensation from the issuer directly or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full Disclaimer HERE.
SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR. 

DISCLOSURE: Zacks SCR has received compensation from the issuer directly or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full Disclaimer HERE.
 
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