Blockchain
Hyperblock Inc. Announces Delay of Annual Filings, Additions and Changes to Board of Directors, and Transition of Interim Chief Financial Officer
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HyperBlock Inc. (“HyperBlock” or the “Company“) (CSE: HYPR) announced today that, as a result of the Canadian Public Accountability Board December 2018 guidance document outlining its expectations for audits of companies that own cryptoassets and recommending standards to be adopted in the audit practices of those companies’ auditors, and following the recent resignation of the Company’s auditor, the Company will not be in a position to file its financial statements, management’s discussion and analysis and related officer certifications for the financial year ended December 31, 2018 (collectively, the “Annual Filings“) prior to the April 30, 2019 filing deadline under National Instrument 51-102 – Continuous Discloser Obligations and National Instrument 52-109 – Certification of Disclosure in Issuers Annual and Interim Filings.
The Company has appointed Manning Elliott LLP as its auditor and the audit of the Company’s Annual Filings is ongoing. The Company anticipates that it will be in a position to finalize and issue its financial statements and related disclosures no later than June 30, 2019. The Company does not anticipate any delay in filing its interim financial statements, management’s discussion and analysis, and the related officer certifications for the financial period ended March 31, 2019.
The Company has submitted an application to the Ontario Securities Commission, as principal regulator for the Company, under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“) requesting that a management cease trade order be imposed in respect of this late filing rather than an issuer cease trade order. The issuance of a management cease trade order generally does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities. In the event that the management cease trade order is granted, it will be in effect until the default is remedied.
The Company confirms that it intends to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of its filing requirements. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and that there is no other material information relating to its affairs that has not been generally disclosed.
The Company also is pleased to announce today that Roozbeh Ebaddi, Chief Operating Officer, has joined the Company’s board of directors, subject to CSE approval. Mr. Ebaddi was also Chief Operating Officer and Co-Founder of CryptoGlobal and has a distinguished history in building technology companies. The Company also reports today that it has accepted the resignations of Eric So, Dayna Gibbs, and Tony Gaffney from the Company’s board of directors. The Company is thankful for their contributions to its development and wishes them the very best in their future endeavours. Inder Saini also stepped down as the Company’s Interim Chief Financial Officer, and the recruitment process for a permanent Chief Financial Officer is currently underway. During such recruitment process, Sean Walsh, the Company’s Chief Executive Officer, will act as the Company’s Interim Chief Financial Officer.
SOURCE HyperBlock
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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