NEW YORK, NY / ACCESSWIRE / August 20, 2018 / On July 17, 2018 Australian Securities Exchange (ASX) listed company, CCP Technologies (CT1), made a public announcement regarding a significant purchase of shares by the Singapore based Penta Global Blockchain Foundation. The share purchase was approved by the ASX, and with this approval Penta became one of CCP Technologies's largest shareholders. The official announcement, released to the ASX by CCP Technologies elicited a very positive reaction from the investment community.
Asked about the deal, Penta CEO David Ritter said, "The Penta Global Blockchain Foundation is very happy to announce completion of a strategic investment in ASX listed company, CCP Technologies. This represents one of the first times a digital currency has invested directly in a public company on a major exchange and reflects Penta's commitment to bring blockchain technology to the real-world economy. We see many strategic opportunities to work with CCP Technologies to deliver new solutions to the market.''
In fact, Penta's investment of PNT tokens to purchase shares of CCP Technologies represents the first time an altcoin - a non-large cap cryptocurrency - has been used to purchase shares of a company on a major exchange. While Penta may be a lesser known blockchain project, this investment in CCP Technologies is raising eyebrows around the world. It has led many to reconsider whether the gap between the digital world of cryptocurrencies and traditional equities markets is closing.
Michael White, Chief Executive Officer of CCP said, ''Our company is leveraging Cloud, IoT, Blockchain, Big Data and AI technologies to revolutionise critical control point management. We have an industry leading suite of technical capabilities, a growing customer base and partner network. We're bringing exciting new solutions to a massive market which offer a compelling value proposition. This raise provides synergistic investment that we expect will further accelerate our commercial and technical advancements.''
Both CCP Technologies and Penta believe there is a natural synergy between blockchain and IoT technologies. The new partnership reflects a mutual desire to merge and integrate these disruptive technologies for use in the Australian economy and beyond. CCP Technologies is already in consultation with some government organizations to explore potential uses of blockchain-IoT technology that could serve the public interest.
Penta is one of the rare blockchain organizations that has generated considerable revenue in deployment of blockchain projects in the real world economy. According to the Penta white paper, the Penta Network is a next generation platform for both public and private blockchain projects, with an emphasis on impacting the real economy. Designing innovative technology solutions for real world applicability is a strategic goal shared by Penta and CCP Technologies.