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TDK Ventures invests in Infinite Uptime’s Industry 5.0 digital intelligence platform

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  • Infinite Uptime revolutionizes industrial applications with its state-of-the-art digital intelligence platform that provides real-time fault diagnostics and reliability monitoring for key mechanical equipment in an integrated, smart software platform
  • The platform employs frequency analysis of vibrations, monitored by sensors integrated into essential machinery to predict failures
  • TDK Ventures partners with Infinite Uptime to expedite the adoption of cutting-edge technologies that promote automation, downtime reduction, and heightened sustainability in manufacturing and other industrial sectors

SAN JOSE, Calif., July 26, 2023 /PRNewswire/ — TDK Corporation (TSE: 6762) announced today that its subsidiary, TDK Ventures Inc., has invested in the Industry 5.0  – focused startup Infinite Uptime, who’s digital intelligence platform leverages state-of-the-art sensor technology, advanced analytics, and machine-learning algorithms to monitor vital mechanical equipment within industrial applications to anticipate and promptly address failures, ensuring optimal uptime and superior performance.

Infinite Uptime’s Predictive Maintenance (PdM) platform offers two key capabilities within a single platform: Diagnostics as a Service (DaaS), which monitors critical equipment 24/7 and notifies the presence of any faults, and Digital Reliability Service (DRS), which provides prescriptive actions/interventions and downtime savings. Utilizing frequency analysis of vibrations, monitored by sensors integrated into key machinery, the platform detects degradation and impending failures. This physics-based data foundation drives AI-based decision making, allowing industries to proactively tackle potential issues and optimize their operations. These capabilities play a critical role in advancing Industry 5.0 transformation to enhance manufacturing, production, and industry efficiency while promoting cleaner and more sustainable practices through resource optimization, risk identification/mitigation, and waste reduction.

The need for efficient monitoring and maintenance solutions is increasingly vital as markets continue to shift toward Industry 5.0. Infinite Uptime’s platform addresses this demand by delivering a scalable, real-time monitoring system that empowers companies to automate and optimize operations, which in turn reduces downtime and improves overall sustainability.

Infinite Uptime’s Predictive Maintenance (PdM) platform seamlessly integrates with existing industrial infrastructure, offering a comprehensive, data-driven approach to predicting and preventing equipment failures. By harnessing the Internet of Things (IoT), cloud computing, and advanced analytics, the platform provides actionable insights to decision-makers, driving operational excellence and supporting business growth.

Dr. Raunak Bhinge, CEO of Infinite Uptime, commented, “Our mission is to enable industries to fully embrace the potential of Industry 5.0, equipping them with the necessary tools and insights to accelerate business growth and enhance sustainability. We are thrilled to partner with TDK Ventures, whose expertise and support will accelerate the adoption of our digital-intelligence platform across various industrial sectors.”

Nicolas Sauvage, President of TDK Ventures, added, “Infinite Uptime stands at the forefront of the Industry 5.0 revolution, tackling critical challenges in industrial automation and efficiency. Their digital intelligence platform holds the potential to transform how industries operate, paving the way for a more sustainable and efficient future. We are excited to collaborate with Infinite Uptime and support their journey in shaping the future of more sustainable industrial applications.”

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TDK Ventures invests globally in early-stage startups that leverage fundamental materials science to unlock an attractive and sustainable future for the world. TDK Ventures’ goal is to help every startup they invest in achieve their full potential for positive world impact.

To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at [email protected].

About TDK Corporation

TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately “Attracting Tomorrow.” It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK’s comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.

About TDK Ventures

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TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company’s vision is to propel the digital and energy transformations of segments such as health and wellness, next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or [email protected].

About Infinite Uptime

Infinite Uptime is a global Predictive Maintenance Services and Plant Reliability solutions company. We help maintenance and manufacturing teams to attain the highest level of plant reliability by reducing unplanned downtime, mitigating operational risks, and improving overall efficiency. We leverage Industry 5.0 technologies and a digital-first approach to create responsive maintenance strategies for diverse global manufacturing industries including Cement, Steel, Metals & Mining, FMCG, Chemicals, Oil & Gas, Power, Pharma, Tire, Automotive, Construction, Pipes and more. Our advanced analytics and real-time industrial diagnostics help plant-maintenance leaders and condition-based monitoring teams to accurately predict and avoid machine failure every single time.

You can download this text and associated images from www.tdk-ventures.com/TDK-ventures-invests-in-infinite-uptimes-industry-50-digital-intelligence-platform/

Contacts for regional media

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Brand

Contact

Phone

Mail

TDK

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Ms. S MACKENZIE

Publitek

Portland, OR, USA

+1 503 720 3743

[email protected]

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TDK Ventures

Mr. R. FINELLI

TDK Ventures

San Jose, CA, USA

+1 408 667 5970

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[email protected]

View original content:https://www.prnewswire.co.uk/news-releases/tdk-ventures-invests-in-infinite-uptimes-industry-5-0-digital-intelligence-platform-301884464.html

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Brazil to Tighten Regulation on Foreign Crypto Exchanges

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Brazil’s Receita Federal Increases Scrutiny on Foreign Cryptocurrency Exchanges

Brazil’s tax authority, Receita Federal, plans to intensify its oversight of foreign cryptocurrency exchanges operating within the country. This move aims to enhance regulation and transparency amid the rising use of digital assets in Latin America’s largest economy.

New Reporting Requirements for International Platforms
Recent reports indicate that Receita Federal will soon issue an order requiring international cryptocurrency platforms, including Binance and Coinbase, to provide detailed operational data and information on their partnerships with local service providers.

Government’s Regulatory Focus
Andrea Chaves, Deputy Secretary of Inspection at the Federal Revenue Service, emphasized the importance of this measure. “It’s crucial for us to understand how they operate here and ensure there’s no illegality,” she stated. The government aims to ensure compliance with tax laws and confirm that services provided to Brazilian customers are fully legal.

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Wagner Lima, a risk management coordinator at Receita Federal, underscored the need to review collaborations between foreign exchanges and local service providers. This review ensures compliance with a 2019 regulation that mandates information sharing.

Rise in Crypto Asset Declarations
This decision comes in response to a significant increase in crypto asset declarations by Brazilians. From January to July 2023, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, marking a 36.6% increase from the previous year. Notably, 14.5 billion reais were declared through foreign exchanges, representing a 51.2% growth.

Upcoming Order Details
The forthcoming order will require exchanges to disclose their operational methods and customer service practices in Brazil. However, it will exclude customer-specific data and transactional information to comply with current Brazilian laws.

Future Regulatory Framework
Brazilian authorities are also working on developing a clear framework for digital currencies and their legal status, expected to be introduced by mid-2024. This framework aims to organize both local and foreign exchanges operating within Brazil, ensuring their compliance with local laws and regulatory requirements.

Source: cryptotimes.io

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The post Brazil to Tighten Regulation on Foreign Crypto Exchanges appeared first on HIPTHER Alerts.

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Financial Institution NAB Embraces Crypto Custody Solution

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National Australia Bank Invests in Crypto Custody Firm Zodia Custody

National Australia Bank (NAB), a prominent financial institution, has taken a significant step into the cryptocurrency custody arena. Instead of creating its own digital currency, NAB Ventures has opted to invest in Zodia Custody, a London-based firm specializing in the secure storage of digital assets for institutional clients.

Strategic Shift and Industry Alignment
This investment marks a strategic shift for NAB, aligning itself with global financial leaders like Standard Chartered, Northern Trust, and SBI Holdings, who have already acknowledged the importance of safeguarding digital assets for investors. By partnering with Zodia Custody, NAB showcases a forward-thinking approach, choosing collaboration over direct competition with established players like Coinbase.

Commitment to Innovation
The decision to invest in Zodia Custody reflects NAB’s commitment to providing cutting-edge solutions to its institutional clients while leveraging the potential of the crypto market. This move positions NAB as a key ally for institutional investors seeking secure and regulated infrastructure to navigate the complexities of digital asset storage and management.

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Additional Insights
One significant aspect not highlighted in the initial report is that NAB’s engagement with a crypto custody solution underscores the growing demand from institutional investors for secure and regulated infrastructure to enter the crypto space.

Key Questions
1. How will NAB’s partnership with Zodia Custody impact its overall financial services and competitive position in the market?
2. What regulatory challenges and compliance requirements does NAB face by entering the crypto custody space?
3. How does NAB plan to address security concerns related to the storage of digital assets for its institutional clients?
4. What are the potential risks and rewards for NAB as it ventures into the crypto custody sector?

Key Challenges
NAB may encounter several challenges, including regulatory compliance issues, cybersecurity risks, market volatility of crypto assets, competition from existing players in the space, and the need to build trust among institutional clients for their crypto custody services.

Advantages
1. Access to a Growing Market: Entry into the rapidly expanding crypto market and potential new revenue streams.
2. Strengthened Partnerships: Enhanced relationships with global leaders in the crypto custody sector.
3. Diversification: Broadening service offerings to meet the evolving needs of institutional clients.

Disadvantages
1. Regulatory Scrutiny: Increased regulatory oversight and compliance costs.
2. Market Volatility: Exposure to the highly volatile nature of crypto assets.
3. Reputation Risk: Potential damage to reputation if security breaches or operational issues occur in the custody of digital assets.

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Source: smartphonemagazine.nl

The post Financial Institution NAB Embraces Crypto Custody Solution appeared first on HIPTHER Alerts.

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Brazil Tax Department to Scrutinize Foreign Crypto Exchange Operations

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Brazil to Enhance Scrutiny on Foreign Crypto Exchanges

Brazil’s Receita Federal is set to intensify oversight of foreign digital asset exchanges operating within the country, aiming to strengthen regulation and transparency in this rapidly growing sector. The national tax authority plans to collect operational data from platforms such as Binance, Coinbase, and Kraken, despite the absence of a comprehensive regulatory framework for cryptocurrencies in Brazil.

Tightened Oversight on Foreign Crypto Exchanges
As digital asset popularity surges in Brazil, the government is taking steps to understand and regulate the activities of international cryptocurrency exchanges. A mandate, expected to be issued this week, will require these platforms to disclose their operational methodologies and customer service practices within the region. The focus of Brazilian tax authorities is to ensure compliance with local tax laws and anti-money laundering regulations.

Surge in Digital Asset Usage
The decision comes amidst a significant increase in digital asset usage in Brazil, with reported crypto holdings by Brazilians reaching 133.6 billion reais ($24.6 billion) from January to July 2023—a 36.6% increase from the previous year. This heightened scrutiny is vital as the government pushes for greater transparency while still developing a concrete regulatory framework, expected to be proposed by the end of 2024.

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Receita Federal to Audit International Crypto Platforms
Andrea Chaves, Deputy Secretary of Inspection at the Receita Federal, emphasized the importance of this initiative. The government aims to ensure that these exchanges comply with tax obligations and do not engage in illegal activities. Additionally, they seek to confirm that services offered to Brazilian customers are fully legal, addressing concerns that some platforms might bypass local regulations, leading to unreported revenue and facilitating illicit financial flows.

Wagner Lima, a risk management coordinator at the Revenue Service, highlighted the need to examine partnerships between foreign exchanges and local service providers. This scrutiny ensures adherence to a 2019 regulation mandating information sharing, crucial for maintaining the integrity of Brazil’s financial systems.

Upcoming Ordinance Requirements
The forthcoming ordinance will require exchanges to provide detailed information about their operations, excluding customer-specific data and transactional details to comply with current Brazilian laws. The 51.2% increase in declared holdings through foreign exchanges from the previous year underscores the growing importance of these platforms in the local market.

Source: coingape.com

The post Brazil Tax Department to Scrutinize Foreign Crypto Exchange Operations appeared first on HIPTHER Alerts.

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