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Blockchain Press Releases

Roxtec upgrades to IFS Cloud to drive efficiencies and reduce costs

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ERP solution will enable Swedish sealing solutions specialist to remain evergreen and add new functionality as and when required

LONDON, Aug. 10, 2023 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced that Roxtec International, a Swedish modular pipe and cable sealing systems company, has chosen to upgrade its existing IFS enterprise resource planning (ERP) software to the latest IFS Cloud™ solution to drive its ongoing global growth.

Roxtec already uses IFS software to support its daily operations end-to-end, enabling it to benefit from full global visibility over its operations and easy localization for its multiple subsidiaries. Implementing the upgrade to IFS Cloud will allow the sealing systems company to build on this capability with an evergreen ERP model that allows it to access all the latest functionality, as required, to further increase efficiency, reduce costs, and ensure it is always compliant with local market regulations.

Roxtec will also benefit from a new business process automation capability that will drive enhanced productivity across its operations and increase data utilization through integrated analytics and business intelligence. In addition, it plans to make use of the software’s “Build Place” capability to customize the software and conduct impact tests.

The IFS Cloud software will also help Roxtec tackle a range of specific operational challenges it currently has. It will enable enhanced electronic data interchanges to drive more efficient procurement processes as well as improve parts handling for Engineer to Order (ETO) and Configure to Order (CTO) processes. IFS Cloud will also reduce the need for costly and cumbersome custom reports, integrations, and modifications (CRIM).

The upgrade will initially see IFS Cloud rolled out across 25 countries, with a further expansion to follow further down the line.

Rikard Hasselgren, CIO, Roxtec, said: “We have worked with IFS for many years now and have built a strong, trust-based relationship with them over that time. We are confident that using IFS Cloud will enable us to enhance this further, allowing us to keep a lid on costs and increase operational reliability, security, redundancy, and scalability across all our daily operations end-to-end – from manufacturing to customer orders to invoicing and finance.”

Ann Kristin Sander, Managing Director Nordics, IFS, said: “Across all of its core target markets from critical infrastructure to manufacturing to the renewable energy industry, Roxtec is experiencing strong and steady demand. Using IFS Cloud will ensure that it is able to consistently meet this demand today and easily scale to accommodate future growth plans. We are thrilled to be continuing to work in close partnership with them to assist them in meeting their long-term strategic goals.”

About Roxtec

Roxtec is the world-leading provider of flexible modular-based cable and pipe seals. The company’s invention for adaptability to cables and pipes of different sizes, Multidiameter™, is based on sealing modules with removable rubber layers. It allows for a perfect sealing, regardless of the outside dimension of the cable or pipe. The solution simplifies design and engineering, speeds up installation and reduces the need for stock, material and logistics. It also provides spare capacity for easy retrofit and future upgrades. Roxtec serves and supports customers in more than 80 markets through subsidiaries and a network of distributors. For more information, please visit www.roxtec.com

About IFS

IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers—at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognised leader and the most recommended supplier in our sector. Our team of over  5,500 employees every day live our values of agility, trustworthiness and collaboration in how we support our thousands of customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.

Contact information

EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: [email protected] 
Phone: +44 7775 114 856

NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: [email protected] 
Phone: +1 520 396 2155

The following files are available for download:

https://mb.cision.com/Public/855/3815538/8aa06e8951dcb2b7.pdf

Roxtec upgrades to IFS Cloud to drive efficiencies and reduce costs

https://news.cision.com/ifs/i/roxtec,c3204659

Roxtec

View original content:https://www.prnewswire.co.uk/news-releases/roxtec-upgrades-to-ifs-cloud-to-drive-efficiencies-and-reduce-costs-301897718.html

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Blockchain Press Releases

aelf Leads the Fusion of AI and Blockchain to Shape the Future of Technology

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Singapore-based blockchain pivots to artificial intelligence to unlock new frontiers in blockchain efficiency, scalability, intelligence, and security; and deploys $50 million ecosystem fund to support the AI transformation initiatives.

SINGAPORE, April 12, 2024 /PRNewswire/ — In a transformative move for the blockchain industry, aelf, a pioneering blockchain network, has announced its strategic shift to integrate artificial intelligence (AI) within its blockchain. This significant leap forward marks the beginning of a new phase for the aelf blockchain, transitioning from a decentralised network to a vibrant ecosystem enriched with state-of-the-art AI models and agents, broadening its functionalities and enriching user experiences.

“The integration of computation, LLM (large language model) and agents within the aelf’s blockchain is not just an enhancement; it’s an evolution,” stated Auric, Founder of aelf. “7 years ago, we have identified blockchain’s future and been relentlessly developing modular systems, parallel processing, cross-chain bridges and cloud-native architecture, which are now what the industry has been talking about. Now, we envision AI as the next catalyst for the future of blockchain and are determined to be the first in Asia to bring this evolution to fruition. This AI transformation is about cultivating a self-evolving system—a smarter, self-learning blockchain where each new block is more advanced than the last.”

To nurture and accelerate the convergence of AI and blockchain, aelf Ventures, aelf’s investment arm, will be strategically deploying its $50 million Ecosystem Fund to support innovative AI initiatives seeking blockchain enablement. With the roll-out of developer-friendly toolkits, aelf will further catalyse this AI blockchain innovation by empowering the community to utilise those new technologies for data pre-processing, model training, fine-tuning and deployment, agent development, on-chain deployment and monetization with the aelf blockchain environment.

Existing projects and games on the aelf blockchain are set to integrate these AI capabilities while new projects will benefit from aelf’s robust foundation, offering a dynamic and responsive blockchain ecosystem that delivers enhanced efficiency, strengthened security protocols, and sophisticated intelligent automation.

This AI transformation embodies aelf’s commitment to fostering an environment of continuous innovation and maintaining its position at the forefront of blockchain technology. With a steadfast dedication to expanding its capabilities, aelf remains focused on generating user-centric value and propelling the entire blockchain domain forward.

About aelf

aelf, the pioneer Layer 1 blockchain, features modular systems, parallel processing, cloud-native architecture, and multi-sidechain technology for unlimited scalability. Founded in 2017 with its global hub based in Singapore, aelf is the first in the industry to lead Asia in evolving blockchain with state-of-the-art AI integration, transforming blockchain into a smarter and self-evolving ecosystem.

aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network.

For more information, visit https://aelf.com.

View original content:https://www.prnewswire.co.uk/news-releases/aelf-leads-the-fusion-of-ai-and-blockchain-to-shape-the-future-of-technology-302115323.html

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Blockchain Press Releases

Bitrue Gears Up for 2024 Bitcoin Halving with Trading Competition

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SINGAPORE, April 12, 2024 /PRNewswire/ — Leading cryptocurrency exchange Bitrue unveiled a new competition available to all users on the platform that comes with a total prize up to $850,000 USDT in a recent X announcement.

The contest is being held in honor of the much anticipated Bitcoin Halving – an event that occurs once every four years to regulate the supply of new BTC entering the digital asset economy, and helps ensure long-term value through scarcity of supply.

The competition will rank traders according to their trading volume on the exchange during the contest period. The competition begins on Thursday April 11th and will continue until the halving event occurs (estimated April 20th). The prizepool will increase according to the number of valid participants in the competition, with the grand prize winner set to take home 25% of the total reward (212,500 USDT). All participating users will have a chance to win prizes regardless of their final rank.

With all eyes on this historic event, Bitrue is thrilled to be able to offer an exciting and rewarding way for its 10 million users to mark the occasion and provide them with an opportunity to earn a life changing amount of money. Interested parties should sign up on the Bitrue exchange now in order to be ready for when the contest goes live on April 11th.

About Bitrue

Launched in July 2018, Bitrue is a diversified digital exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. It has offices in Asia and Europe, and continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.

Logo – https://mma.prnewswire.com/media/2385358/Bitrue_BitrueOfficial_Bitrue_Logo.jpg 

Cision View original content:https://www.prnewswire.co.uk/news-releases/bitrue-gears-up-for-2024-bitcoin-halving-with-trading-competition-302115311.html

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Blockchain

Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

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Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.

Source: coingeek.com

The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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