MarilynJean Interactive (MJMI.QB) Today Announced It Has Entered Into Discussions to Acquire a Share of an Operating Bitcoin Exchange
Owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATMs the company installs.
A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency.
A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade.
While MarilynJean intends to trade through multiple exchanges, including major exchanges Bitstamp and Bitfinex, the reduced settlement times that are available as an exchange owner / operator provide significant advantages in international currency conversion and transfer transactions.
Peter Janosi, MJMI's president said:
"Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. At the same time time, being able to route transactions through a completely integrated system that we monitor and control will allow us to offer even faster transaction processing and better customer service. We are very excited to be in discussions with a potential partner in the exchange space who shares our focus on security and scalability."
About MarilynJean Interactive (MJMI)
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
Crypto-currencies are 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.
MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions.
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is OCTQB:MJMI.
MarilynJean Interactive: http://www.marilynjean.com/