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 Skychain Technologies Inc. (TSXV: SCT) announces preparations to expand its data centre services to provide Edge computing for cloud gaming and other high-data applications such as rendering for film and animation. Edge computing, considered the future of enterprise data processing, allows internet consumers to use more connected applications and devices with minimal latencylag time and network congestion. By using the network's "edge" (the geographical location where servers deliver functionality to customers most expediently), Edge computing promises major leaps in data processing.
The future of Edge computing appears lucrative, according to Gartner Research & Advisory. The firm predicts that by 2025, as much as 75 percent of enterprise data would be generated and processed through Edge computing. Cloud gaming will be a primary user. Grand View Research reports the global cloud gaming market size is expected to grow at a compound annual growth rate (CAGR) of 48.2% from 2021 to 2027 to reach USD $7.24 billion by 2027. The proliferation of smartphones and 5G wireless networks across the globe is further expected to drive cloud gaming growth.
"Considering these powerful market trends, we've identified Edge computing as the next strategic step in our growth," said SkyChain CEO Bill Zhang. "Skychain's deep experience in cryptocurrency mining has resulted in development of our own unique high-speed equipment, venues and energy solutions suited perfectly to Edge computing. As a result, we can provide access to new revenue sources with only marginal costs of upgrading our facilities."
Over the past three (3) years, SkyChain and MiningSky have provided Infrastructure As A Service (IAAS) for cryptocurrency verification. SkyChain's facilities include a data centre, large megawatt electrical capacity and network to support the required high-volume data processing. Under a business plan in process, Skychain is conducting testing to upgrade the current IAAS to cloud-based IAAS for expanded applications.
Skychain believes its new Quebec and Manitoba data facilities, when fully upgraded and, in the case of Manitoba, fully online, are ideal service locations for the new services with the best electricity rates in Canada. Both facilities will provide close proximity to the users and best-in- class internet latency.
In concert with industry partners, Skychain is starting a Proof of Concept (POC) project at an estimated budget of $600,000 for the cloud IAAS. The partners, who are also SkyChain customers, will contribute capital. Skychain will contribute its IAAS platform, technical advice and management to the POC.
About Skychain Technologies INC
Skychain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. Our vision is to become a leading player in the crypto/data mining hosting by growing to 100Mw of crypto hosting capacity. To learn more, visit www.skychaintechnologiesinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bill Zhang
President and CEO
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Contact: 604-456-0608
info@skychaintechnologiesinc.com
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