December 10, 2023


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OBITX, INC. ENGAGES Law Company TO Establish Corporate-SPONSORED SPAC (Distinctive Function ACQUISITION Enterprise), All the things BLOCKCHAIN

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Fleming Island, Florida, Jan. 13, 2021 (World NEWSWIRE) — OBITX, Inc., (OTC Market place: OBTX), an innovative software development and products and services organization specializing in blockchain technologies and decentralized processing, declared these days it has engaged authorized consultants in the institution of a company sponsored Distinctive Goal Acquisition Firm (SPAC), Every little thing Blockchain, a Cayman Island company to acquire emerging organizations in blockchain systems.

The blockchain marketplace was valued at $200 billion in 2017 and is expected to register a CAGR of 46.3% from 2020 to 2025. DAVOS, a Planet Economic Discussion board study suggested that 10% of world wide GDP will be stored on the blockchain by 2027.  On January 7, 2021 the blockchain’s cryptocurrency industry exceeded $1 trillion pounds.  Cryptocurrencies are now the world’s fifth most circulated forex by value.  Numerous governments have published reports on the probable implications of blockchain, and the past two decades alone have found extra than half a million publications on and 3.7 million Google look for outcomes for blockchain.

Michael Hawkins, OBITX CEO stated, “even with all this information, blockchain is however an immature technology, with a sector that is continue to striving to find its way.  Organizations are expending large amounts of capital, for instance, IBM has more than $200 million invested in the blockchain-run Internet of Factors (IoT).  Our eyesight and aim at OBITX is to locate enterprises that have garnered good results in the blockchain, with very similar and seem management and developments, merging them into a primary, development environment, plan creating entity recognized all over the world.”

Mr. Hawkins went on to say, “It is my target as CEO to raise shareholder value and create a sustainable, very long long lasting, and sector primary group. SPAC’s are companies fashioned to raise money in an preliminary public giving (“IPO”) with the goal of making use of the proceeds to acquire one or much more unspecified firms or belongings.  Sponsoring a Exclusive Purpose Acquisition Enterprise is the next rational stage in achieving that target.”

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