Verady Launches Ledgible Crypto Partner Program 5317

Verady, maker of the Ledgible cryptocurrency tax, accounting, and financial reporting platform, today announced its Ledgible Crypto Partner Program. The Program is designed to aid accountants, tax preparers and bookkeepers in managing the complexities of cryptocurrencies in order to retain current clients and gain new clients with crypto. Once a short form is completed and approved, members gain access to a Ledgible Tax Pro account for their firm and exclusive Partner content.

“With the recent questions on the IRS tax forms and more individuals and businesses buying, holding and spending cryptocurrency, there is a growing need to understand how digital assets align with accounting, reporting and verification in order for cryptocurrency adoption to go mainstream,” said John Wandrisco, Chief Commercial Officer at Verady, who recently joined the company after more than 20 years at Thomson Reuters. “The Ledgible Crypto Partner Program was developed to meet this need and advance the traditional financial and accounting support structure into the new digital economy.”

The Ledgible Crypto Partner Program helps traditional accounting professionals open a profitable new market segment for firms, and demonstrate leadership and expertise with the rapidly growing crypto industry. Program benefits vary by status and include access to the Ledgible Tax Pro, a subscription service where accounting professionals can centrally manage their crypto clients and their data. Members also have a listing on the Ledgible website, program communications and exclusive access to Partner-only information. Discounts are available based on the number of users and clients.

There is no charge to be a member of the Ledgible Crypto Partner Program. To sign up as a Ledgible Crypto Program Partner visit: https://ledgible.io/ledgible-crypto-partner-program-signup/ The first Partner-only information is the Crypto Tax Planning Playbook which details year end crypto tax planning.

Ledgible powered by Verady is a SOC audited platform for cryptocurrency and blockchain transaction accounting. Ledgible Tax Pro is the first solution designed specifically for professionals to assist their clients with crypto taxes. Ledgible for Business is your crypto subledger integrating with traditional platforms such as QuickBooks Online, Xero and NetSuite. Ledgible enables clients to save time and ensure accuracy by automatically syncing with information directly from cryptocurrency holdings and transactions.

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Bloccelerate VC Closes Fund I 3175

Bloccelerate VC, a Seattle-based VC firm focused on early-stage investments in blockchain technology startups, closed a $12M Fund I to support the enterprise and institutional adoption of blockchain. The Bloccelerate VC fund is actively investing in blockchain-powered applications that enable trustless automation of business processes within trillion-dollar industries — such as trade finance, financial services, and supply chain. The fund has already deployed capital into 5 companies, including Blockapps, Symbiont, MakerDAO.

Over the next 2-3 years, Bloccelerate will deploy capital into 10-15 emerging winners in the blockchain space. Bloccelerate invests in Seed, Series A, and Series B stage companies through its main fund, along with a co-investment vehicle. The average investment amount ranges from $500K-$2M.

Founded in 2018, Bloccelerate VC is led by General Partners Kate Mitselmakher and Sam Yilmaz. Having personally experienced the volatility of the emerging market economies, both Mitselmakher and Yilmaz have developed an appreciation for the disruptive potential of blockchain in the financial world.

Professionally, Mitselmakher brings a decade-long expertise in the enterprise technology space, having worked for a global publicly traded technology market research firm, Gartner (NYSE: IT). Yilmaz brings operational know-how and entrepreneurial expertise, having started and exited an AI company, prior to co-founding the Decentralized Application Fund in 2014. The DApps Fund divested all of its assets in 2017 — at the peak of the blockchain hype cycle.

While the recent adoption of digital assets by institutional investors has been great for the blockchain industry as a whole, Mitselmakher and Yilmaz firmly believe that many still misinterpret blockchain by deeming it primarily restricted to payments, or “money-as-a-service” use cases. In reality, blockchain has numerous other applications.

In fact, by 2030, Gartner estimates that the business value added by blockchain will surge to exceed over $3.1 trillion, with the vast majority of value created in use cases outside of “digital gold” (Source). Large Fortune 500 companies — like Walmart, Bayer, Vanguard, Anheuser Busch, and others — all announced successful blockchain implementations. Mitselmakher believes that “the era of futile experimentation is behind us, as a larger number of POCs are successfully going to production.”

Bloccelerate’s investment thesis specifically focuses on revenue-generating use cases that enable trustless “consensus over the wire” for multiple stakeholders who do not necessarily know or trust each other. Examples from Bloccelerate portfolio include BlockApps’s solution tracking multiple billions of dollars worth of highest-value stewarded products for Bayer Crop Sciences (Source), and Symbiont’s solution successfully managing $1.3+ trillion worth of passive index data for Vanguard (Source). Bloccelerate VC believes that, ultimately, blockchain solves the “single source of truth” problem – permeating virtually every sector and every geography.

Blockchain-Based E-Contract Startup FirmaChain Announces Partnership With ‘DTT Alliance’ 3602

South Korea based FirmaChain, a blockchain-based global electronic contract platform, announced that it has joined the DTT Alliance (Decentralized Trusted Timestamping Alliance), an alliance of blockchain-based decentralized TSA (Time Stamping Authority) and data verification companies. FirmaChain plans to work together with DTT Alliance to build a blockchain-based decentralized TSA service ecosystem and overcome the limitations of existing processes. FirmaChain is also considering collaboration with DTT Alliance partners in the future for the scalability of the blockchain network.

DTT Alliance was formed to jointly address opportunities and barriers in diverse markets of data authentication and distribution in line with the amendment of the Basic Act on Electronic Documents and E-Commerce, enactment of Three Data Bills, and the abolition of public authentication certificates in South Korea.

DTT Alliance has already confirmed participation from 15 corporates, including CJ OliveNetworks, Daebo Communication & Systems Corporation, Lotte Data Communication, Bespin Global, Busan International Film Festival, Argo, eXsoft, Initech, Xangle, Chain Partners, Topedo, Fujitsu Korea, and Hyundai AutoEver.

Shin Jae Hyuk, Secretary-General of DTT Alliance, shared, “Together with blockchain-based electronic contract platform FirmaChain, it will be possible to record and verify corporate core data including e-contracts using blockchain.”

Young Yoon, CEO of FirmaChain stated, “We hope that our participation in DTT Alliance activates the use of a more transparent blockchain-based e-contract platform like FirmaChain in the contactless and private authentication markets. Participation by various corporates in DTT Alliance will lead to the formation of a highly scalable network.”

Currently, FirmaChain is striving to expand the blockchain ecosystem by actively accepting blockchain-based technology that can be used in various industries, for example, joining MYKEEPiN ALLIANCE, one of the four major DID (Decentralized IDentifier) associations in Korea.

FirmaChain Overview

FirmaChain seeks to replace all written contracts governing social and legal issues by using an electronic contract platform based on FirmaChain’s data blockchain. Since traditional written and electronic documents are easy to forge, and the verification procedures are complicated, blockchain’s decentralization is used to solve the problem. FirmaChain can check the contract’s validity through its hash function, which can be verified in an independent node. This verification process can be used as a means to resolve legal disputes. Blockchain is an effective technology that eliminates the risk of forgery of such documents, and it is applied to the first DApp (decentralized application) of FirmaChain – the duite service.

Duite is a blockchain-based electronic contract solution that changes contracts, signatures, and management methods, focusing on solving forgery problems such as signature forgery and document falsification. The user’s contract data is encrypted using Elliptic Curve Cryptography (ECC) to guarantee the document’s security, and the encrypted document is uploaded to the server owned by FirmaChain and the InterPlanetary File System (IPFS) to ensure the safety of the user’s contract data. The double-posting security mechanism provides technically enhanced assurance that signed contract documents are kept in inviolable document storage.

The DApp implements a reliable contract-making procedure between parties. It reduces the processing cost for international contracts through contract writing using fewer resources and simplifying the process. FirmaChain is creating a service that overcomes the limitation of written contracts. Visit FirmaChain’s website https://firmachain.org/ for more information.

TAAL Reports Third Quarter and Nine-Month 2020 Financial Results & Announces Chris Naprawa as Interim CFO 3832

TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) (“TAAL” or the “Company”) a blockchain infrastructure and service provider, today announced its financial results for the three and nine months ended September 30, 2020 (“Q3-2020”). The Q3-2020 unaudited interim financial statements and related management discussion and analysis (“MD&A”)  are available for review on the Company’s SEDAR profile at www.sedar.com. TAAL reports all amounts in Canadian dollars, unless otherwise stated.

Q3-2020 Highlights

  • Company had $12,993,341 million in working capital at the end of September, 2020.
  • Completed the acquisition of WhatsOnChain Limited (“WhatsOnChain”), accelerating TAAL’s strategy of becoming a leading provider of enterprise blockchain infrastructure services.
  • The establishment of a European office in Zug, Switzerland, a leading technology hub in Europe.
  • Filed second patent for L0 token technology to enable smart contracts to be built on Bitcoin SV which will facilitate an expansion of the fee market available to TAAL.
  • Increased liquidity to U.S. investors with upgrade to OTCQX.
  • Entered agreement to establish 175 PH of custom computing capacity in a trusted North American environment to power Bitcoin Satoshi Vision (“BSV”) transaction solutions for global enterprise clients, subsequent to the quarter end.
  • Completed management and senior executive appointments; Stefan Matthews as Executive Chairman and CEO, Chris Naprawa as President and Interim CFO following the departure of Satoshi Kitahama, and Jerry Chan as CPO, subsequent to the quarter end.
  • David Allen, a seasoned finance executive with Fortune 250 Canadian companies and former VP, Corporate Controller at Canada Goose Inc. retained as financial consult

Financial Highlights for the Three and Nine Months Ending September 30, 2020

  • Gross revenue from operations generated $245,629 for the three-months ended September 30, 2020, as compared to $7,380,758 for the same period in 2019, which decrease reflects the suspension of digital asset hashing operations in May 2020 in advance of the halving. This resulted in gross revenue of $7,854,585 for the nine months ended September 30, 2020, as compared to $11,685,385 for the same period in 2019, which decrease reflects the suspension of hashing operations in 2020 partially offset by fleet management revenue.
  • Operating expenses totaled $4,965,786 for the three months ended September 30, 2020, as compared to $1,446,645 for the same period in 2019. The increase in expenses is largely attributable to one-time impairment charge related to blockchain computing equipment of $2,444,857 recognized in the quarter, as well as management fees, salaries and wages of $1,455,820, office and administration of $331,631, and share-based payments of $255,955 compared to $322,388$143,643, and $230,605, respectively, for the same period 2019. The increased expenses reflect the continuing investment in the team to deliver the new business line, including the transition to transaction processing, and the delivery of other value-added services for enterprise clients. For further information regarding the impairment charge, see the Company’s interim financial statements for the period ended September 30, 2020.
  • Net loss of $5,928,027 for the three months ended September 30, 2020, as compared to a net loss of $756,603 for the same period in 2019. Net loss of $9,120,930 for the nine months ended September 30, 2020, as compared to a net loss of $1,928,212 for the same period in 2019.
  • Working capital of $12,993,341 as of September 30, 2020, providing liquidity for at least the next 12 months.

Management Commentary

“In Q3-2020 the Company maintained a strong working capital position, allowing us to service clients and develop our infrastructure in North America and Europe, including closing the acquisition of WhatsOnChain in the UK, opening a TAAL EU office in Zug, Switzerland and subsequent to the quarter, strengthening our leadership team in Canada with the appointment of Chris Naprawa as President. Chris also takes on the role of Interim CFO with the departure of Satoshi Kitahama. These are important achievements which further our capacity as a first-mover in providing trusted blockchain infrastructure services to a growing global enterprise market,” comments Stefan Matthews, TAAL CEO and Executive Chairman.

Management Appointments Subsequent to the Quarter

The Company made various appointments and/or changes to its senior management and executive team subsequent to the quarter, which the Company believes have strengthened its financial, capital markets, product development and global commercial capabilities:

–  Stefan Matthews to Executive Chairman and Chief Executive Officer
–  Chris Naprawa to President, and Interim Chief Financial Officer
–  David Allen to Senior Financial Consultant

Mr. Naprawa, with the assistance of Mr. Allen, has also assumed the function of Interim CFO following the departure of former CFO Mr. Kitahama, who left the Company as of November 24, 2020.

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BSV platform, and developing, operating, and managing distributed computing systems for enterprise users. The Company is led by an experienced management team, Board and Advisory Board members that include entrepreneur and BSV advocate Calvin Ayre, and renowned computer scientist and visionary Craig Wright.

Visit TAAL online at www.taal.com

This press release has been reviewed and financial content approved by the Company’s Audit Committee of the Board of Directors.

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects” and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes, but is not limited to statements regarding: TAAL’s strategy and vision; the expansion of the free market available to TAAL; TAAL’s future business success; and TAAL’s ability to provide trusted blockchain infrastructure services globally. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include, but are not limited to: global pandemics, including the affects of COVID-19; the future acceptance of BSV and other digital assets and risks related to information processing using those platforms; TAAL’s ability to leverage its intellectual property into viable income streams; and other risks set out in Item 20 – Risk Factors of TAAL’s Form 2A – Listing Statement dated July 31, 2018 and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

NON-IFRS FINANCIAL MEASURES

The terms “EBITDA” (net income or loss excluding net finance income or expense, income tax or recovery, depreciation, and amortization) and “Adjusted EBITDA” (which is calculated by the Company by adjusting EBITDA to exclude share-based payments, fair value loss or gain on re-measurement of Digital Assets, gain (loss) on foreign exchange, and costs associated with one-time transactions) are not recognized measures nor do they have standardized meanings under International Financial Reporting Standards (“IFRS”). There is no standardized measure of “EBITDA” or “Adjusted EBITDA” under IFRS and consequently, TAAL’s method of calculating this measure may differ from methods used by other companies and therefore may not be comparable to similar measures presented by other companies. A reconciliation of “Adjusted EBITDA” to Net Loss can be found in the MD&A.

Ape Tron Launches New Website and White Paper 4080

Ape Tron, a U.K. registered company, announced the launch of their new website and white paper at Apetron.com. Ape Tron is a Decentralized Financial (DeFi) platform, built on the Tron Blockchain and offering an interconnected eco-system of individual products, Dapps and socioeconomic experiments including the first Tron Blockchain based charting, tracking and trading tools alongside the Ape Dice Casino, Ape DeFi and Ape Swap platforms.

Ape Tron will be launching products to complement all the needs within the digital market creating an Interconnected Ecosystem of Individual Products, Dapps, and Socioeconomic Experiments. The Ape Tron White Paper explains that by developing and structuring their products, they will expand the use of the Ape Tron (APE) token to increase in its value and utility. The Ape Tron (APE) token economics are modeled to grow in value with Ape Dice, Ape DeFi, and Ape Swap. APE tokens can be used to access advanced features within the Ape Tron ecosystem and providing holders with opportunities to generate greater yield through the use of trading tools such as charting and tracking. It is expected that with the increase in the complexity of mining and the spread of the use of the Ape Tron (APE) token, its value will grow. With the expansion of the Ape Tron Ecosystem, token holders will be able to receive dividends from all projects in the APE ecosystem and participate in network governance.

With the launch of Ape Dice, token holders will be able to receive rewards from gambling Dapp profits, and with the launch of Ape DeFi and Ape Swap, receive rewards for participating in liquidity pools and mining the DeFi token. The rewards will depend on users’ share of the total value and turnover in the Ape DeFi platforms. This will incentivize users to participate in different instruments of the Ape Tron ecosystem.

To harness the power of authentic word-of-mouth and to attract more users to Ape Tron, users will be rewarded for every user they refer to the platform. The referral reward will be 10% of the number of tokens mined by referrals. The referral program will only take place during the Ape Tron (APE) and Ape DeFi (CHIMP) token mining phase.

Insights on the Blockchain In Genomics Global Market to 2025 – Key Drivers and Challenges 5135

The “Global Blockchain In Genomics Market By Type (Public, Federated, Private), By Application (Clinical Trials, IP Management, Drug Discovery, Data storage and security, Others), By Models, By Targets, By End User, By Region, Forecast & Opportunities, 2025” report has been added to ResearchAndMarkets.com’s offering.

The Global Blockchain in Genomics Market is expected to grow at a significant CAGR during the forecast period. Blockchain in genomics stores, manages and processes the transaction of genomic data between genomic data providers and its customers. Additionally, major factor driving the market is utility and demand to secure such transactions comprising of unique genomic data. However, the market is expected to be restrained due to the lack of understanding of utility of blockchain in genomics and high maintenance costs.

The market for global blockchain in genomics is segmented based on type, application, models, targets, end-user and region. The end-user segment is bifurcated into pharmaceutical companies and research institutes. Among these, pharmaceutical companies held the dominant market share in 2019 and the trend is likely to continue in the coming years as well. Additionally, pharma companies are mainly the ones carrying out the transaction of genomic data contributing to its leading position in the market.

In terms of regional analysis, North America held the dominant share in the market because of its rich economy and the presence of numerous research companies in the region. Additionally, Asia-Pacific is anticipated to witness fastest growth until 2025 as developing economies like India and China are now adopting blockchain in genomics.

Leading players in the Global Blockchain in Genomics Market include DNAtix, Shivom, Zenome, Luna DNA, EncrypGen, Nebula Genomics, GSK, Pfizer, Genobank.io, Merck, Genomes.io, WuXi Nextcode Genomics, Murrieta Genomics, Gene Blockchain, Longenesis, SimplyVital Health, Neogen, Ripe Technology, etc. The inter-company competition keeps on increasing parallelly with the market which in turn leads to innovations in technology, thus increasing customer satisfaction on a global level.

Elemental to Serve Latin America and Asia with Payroll Advances, Partnering with Flash Labs 5049

Elemental.io and Flash Labs Corporation—of Big Sun Holdings Group, Inc., and a member of Hyundai BS&C family of companies—today announced a strategic partnership and joint venture to advance software development, distribution and availability of consumer credit, using financial technologies in Latin America and Asian markets. Elemental’s payroll solution, PayMachine, is an end-to-end loan origination platform focused on delivering accessible micro-loans and flexible payment options to gig workers, contractors and employees of small-, medium- and enterprise-size businesses. PayMachine is also designed to interoperate with blockchain-based payment methods—including central bank digital currency and stablecoins. This unique feature enables payment service providers (PSPs), credit unions and banks to provide currency choices above and beyond that of legacy payroll solutions, using the PayMachine brand, or a white label solution.

Flash Labs will provide software development, integration services and funding to further expand the flexibility, availability and footprint of Elemental’s payroll software solutions. The team at Flash Labs is comprised of experts in Internet of Things (IoT) and blockchain technology, creating and enhancing solutions focused on the security, sanctity and usability of data. In conjunction with its Hyundai BS&C affiliates, Flash Labs offers “best of block” blockchain development and consulting services to companies looking to integrate their hardware and software products to public or private blockchains.

“Elemental set out with a mission to bring affordable consumer credit access to the millions of employed people currently unable to access affordable credit, instead relying on payday lenders and loan sharks, who charge usury interest rates,” says Oliver Gale, Founder and CEO of Elemental. This partnership with Flash Labs will accelerate the deployment of fairer solutions for all that need them.”

The PayMachine payroll and lending solution utilizes best-in-class machine learning, credit-scoring technology and smartphone delivery of funds. Elemental, by partnering with Flash Labs, is now in a position to become the market leader in emerging market consumer credit solutions.

“Elemental’s payroll and micro-loan solutions offer a perfect platform and synergy with the services provided by Flash Labs,” says Michael Woods, CEO & COO of Flash Labs Corporation. “Our knowledge of blockchain and its ability to provide secure immutable records with excellent transaction speed will help grow Elemental’s business throughout the globe.”

Worldwide interest in alternative currency payment options for contractors, employees and gig workers continues to soar, and Elemental is already gaining traction in Latin American and Asian markets. Follow each company on social media for updates and case studies involving new opportunities for credit lending with PayMachine, a global solution for payroll and micro-lending.