NEW YORK, NY / ACCESSWIRE / August 17, 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 offers 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.
Recognizing the commercial value of bringing blockchain and IoT together, First Growth Funds (FGF), was also a major investor in the deal. First Growth Funds Limited is a diversified Listed Investment Company which focuses on increasing shareholder value by making investments across a broad range of listed and unlisted investments. Since December 2017, FGF has strongly positioned itself in the digital currency space and is an active investor and advisor for new blockchain technologies.
Regarding FGF's investment, Executive Director Anoosh Manzoori said, "FGF believes it is an opportune time to invest in CCP. Their technology is fully developed and with the establishment of key channel partners, including Vodafone, Dicker Data Limited (DDR), Sigfox operators and now with Penta, CCP has a great growth outlook."
Perhaps the most important element of this deal is the fact that Penta's investment was completed without using fiat currency - any government-backed currency, for instance the Australian dollar. This could lead to a new era of investment in traditional equities markets, in which commonly used global currencies, such as the US dollar, Euro, etc. are replaced by a wider basket of potential currencies, including digital currencies like Bitcoin, Ethereum, and Penta. Inclusion of cryptocurrencies on the balance sheets of listed companies could also have the added benefit that if the value of those cryptocurrencies increases over time, the holdings of the listed company could see growth reflected in both cryptocurrency growth and stock growth.
If this is to be the future direction of equities markets, the marriage of traditional equities and cryptocurrencies may trace their roots to back to Penta's successful investment in CCP Technologies using PNT.
Media contact email: molly.ma@penta.global
SOURCE: Penta
