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NetCents Technology Projects Acceleration of Contactless Payments on the Heels of World Health Organization Endorsement

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W H O Recommendation Expected to Drive Adoption by New Participants

Vancouver, British Columbia–(Newsfile Corp. – March 17, 2020) –  NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a disruptive cryptocurrency payments Company, is pleased to announce that it has revised its projections regarding Cryptocurrency adoption.

“Based on the recommendations of the World Health Organization (“WHO”) to use “contactless payment methods” whenever possible, we believe that a lot of potential market participants will take the plunge into Crypto and use it as a viable alternative to cash or credit cards” stated Clayton Moore, CEO NetCents. “We also believe that with the recent declines in Crypto values, right now is a great time to dip your toe in the water and get involved in Cryptocurrencies.”, he concluded.

For the most recent years, the Cryptocurrency market has grown by about 10 million wallets annually. But, a recent ruling in India has lifted a ban on using Cryptocurrencies – therefore NetCents Management has increased its projection of global wallets based on its view that India will adopt Cryptocurrency readily. Historical, statistics show that Cryptocurrencies are more widely adopted in regions where financial infrastructure is limited. This bodes well for the potential growth in India, as it is the second most populous country and has a limited financial infrastructure.

Furthermore, NetCents Management believes that the value of Cryptocurrencies will rise for the next 12 months which should indicate that wallet growth could exceed 15 million over the next 12 months. NetCents believes that growth in Consumer adoption will lead to increased transactions using Cryptocurrency.

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The Company has been experiencing 40% monthly growth in its transaction volume, and the two trends above could increase that growth rate to the upside. NetCents has determined that it will re-deploy some of its advertising budget to help educate Consumers about their options in choosing “contactless payment” methods, as recommended by the World Health Organization. NetCents is committed to making its payment systems easy to use for Consumers and Merchants. It intends to add new materials to its marketing tools for Merchants to use in educating new users of crypto and NetCents in the marketplace.

Sources:

https://www.usatoday.com/story/money/2020/03/06/coronavirus-covid-19-concerns-over-using-cash/4973975002/

https://thefintechtimes.com/how-coronavirus-could-lead-to-digital-exclusion-in-a-cashless-society/

https://techcrunch.com/2020/03/03/india-lifts-ban-on-cryptocurrency-trading/

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https://medium.com/coinmonks/cryptocurrency-adoption-by-country-d15e9fea0d94

About NetCents

NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.

For more information, please visit the corporate website at www.net-cents.com or contact Sonja Bakgaard, Investor Relations: [email protected].

On Behalf of the Board of Directors 
NetCents Technology Inc.

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“Clayton Moore”
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 – 1021 West Hastings Street
Vancouver, BC, V6E 0C3

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53516

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Global Fintech Market Size To Worth USD 1009.10 Billion By 2033 | CAGR Of 14.01%

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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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