Subscribe Technologies Inc. (CSE: SAAS, OTC: SRBBF, Frankfurt: 6GQ) (“Subscribe or “the Company”) is pleased to announce a proprietary new Software-as-a-Service (SaaS) platform catering to small and medium sized enterprises (SMEs) and powered by (blockchain) distributed ledger technology, is now in development.
At present, many companies seeking to leverage distributed ledger technology are pursuing large enterprise solutions. At Subscribe, the Company seeks to support trailblazing small and medium sized enterprises with simple, novel, powerful, secure, and trustworthy management tools powered by the unique potential of this technology, to help them grow their businesses.
To date, the Company has already developed multiple cloud based, SME focused, SaaS utility platforms that are both live and currently being used by over 350 Subscribe users. (These offerings include: Bcontact, a customer relationship management and accounting solution, FileQ, a file storage and sharing solution, and Sitesafe, an Internet security solution, as well as three new and as yet unreleased SaaS solutions focused on e-commerce deployment and management, peer to peer lending, and data monetization).
With this new offering, the Company will modularize its existing suite of products, with the addition of several more core tools, into a central, cloud based, desktop and mobile compatible, a la carte SaaS SME management focused platform offering for our users, with a particular focus on developing and deploying new and innovative distributed ledger technology based applications.
Fundamentally, it is anticipated the Company will adopt an increasingly popular freemium and subscription based business model for the new platform, including the potential for product partnership and licensing opportunities with our SaaS and blockchain technology business partners. It is also anticipated that upon the launch of the Company’s core suite of management tools, the Company will also open its API to third party application development and partnerships as well.
For its part, Subscribe management has over 50 combined years of experience in software and technology development, including over 15 combined years of experience in blockchain and encryption technology based operations, applications, and development. Equally, Subscribe management also possesses over 50 combined years of experienced in the junior venture capital markets. Building from this foundation, it is the Company’s intention henceforth to continue to broaden the Company’s management team and partnerships with a deeper proficiency in all areas, including Software-as-a-Service development and management, distributed ledger technology, and technology partnerships and licensing, as it brings this new platform to life.
President and CEO Paul Dickson states, “By integrating our existing SaaS suite into a simplified and modular, distributed ledger technology powered dashboard solution for both desktop and mobile, we believe we will be able to position the company as a leader in distributed ledger technology applications. It is my belief that decentralized ledger technology promises to revolutionize many industries, and we are proud to be at the forefront of this movement. In addition, the growing cloud based Software-as-a-Service model has been proven to offer users powerful and versatile tools and applications across many industries, all the while offering SaaS provider companies deep global reach, detailed customer analytics, and exponential growth potential for their platforms.”
About Cloud Based Software as a Service (SaaS) Technology
Software-as-a-Service (SaaS) is a software licensing and delivery model in which cloud based software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as “on-demand software”, giving businesses the opportunity to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. In 2017, revenues from the public cloud market were projected to reach approximately 138.4 billion U.S. dollars. That same year, revenue from the software as a service segment alone was expected to amount to 87.8 billion U.S. dollars, with strong and steady growth projected for this business segment in the years to come. (Source: Statista.com).
About Decentralized Ledger (Blockchain) Technology
A blockchain is a distributed ledger or decentralized database that is used to maintain a continuously growing list of records, called blocks. Each block contains a timestamp and a link to a previous block. Basically, it is a database, a giant network, known as a distributed ledger, which records ownership and value, and allows anyone with access to view and take part. A network is updated and verified through consensus of all the parties involved. The validated block of transactions is then time stamped and added to a chain in a linear, chronological order. New blocks of validated transactions are linked to older blocks, making a chain of blocks that show every transaction made in the history of that blockchain. The entire chain is continually updated so that every ledger in the network is the same, giving each member the ability to prove who owns what at any given time. It is also important to know that all participants within a network can have their own identical copy of the ledger. Any changes to the ledger are reflected in all copies, similar to a Google doc. Blockchain networks can be private with restricted membership similar to an intranet, or public, like the Internet, accessible to any person in the world. (Source: www.apiumhub.com)
While distributed ledger technology has many different current and potential applications, blockchain is currently the backstop technology behind many of the world’s leading cryptocurrency applications, including Bitcoin, Litecoin, and Ethereum, among many others. It is anticipated that the global blockchain market itself will be worth some $20 billion by 2024 (www.apiumhub.com), whereas at the time of this writing, the cryptocurrency coin market, not including the value of ancillary products and services, is currently valued at over $600 Billion dollars (www.coinmarketcap.com). Subscribe management believes this is but one early example of the many potential applications of Blockchain, and as such is now positioning to become a global leader in the development of such applications.