Blockchain
nChain Enters Into IP Licensing Agreement With TAAL for Blockchain-Related Patents
London, United Kingdom–(Newsfile Corp. – April 24, 2020) – nChain, the leader in enterprise-grade public blockchain solutions, today announces the signing of a licensing agreement with TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTCQB: SQRMF) (“TAAL“) for the use of key elements of nChain’s IP patent portfolio (the “IP Licensing Agreement”).
Under the IP Licensing Agreement, TAAL will have non-exclusive access and rights over 10 years to develop advanced blockchain transactional systems on top of nChain’s existing and future patent portfolio in the areas of specialised blockchain transactions, handling, processing, storage, retrieval and display.
Pursuant to the IP Licensing Agreement, TAAL will pay nChain USD $1 million in fees over the first year of the agreement.
TAAL CEO Jerry Chan said, “We see nChain’s expanding portfolio as an invaluable resource for developing new products and expanding the use of blockchain infrastructure, transaction processing and chain-driven cloud computing to deliver innovation in traditional markets. This agreement will fuel our strategic objectives and open the door for TAAL to work even closer with nChain. At TAAL, our aim is to better serve the growing demand for high-volume transaction systems on chain, and access to nChain’s extensive patent library will give us an undeniable competitive advantage.”
nChain, which includes a pioneering blockchain research and development centre in the U.K., focuses on harnessing the inherent scalability of the original Satoshi Nakamoto Bitcoin protocol, Bitcoin SV. Since the so-called Genesis upgrade in February of this year, Bitcoin SV has witnessed record-high interest, especially from firms that demand higher transactions volumes than competing blockchains can provide.
Of the agreement, nChain CEO David Washburn noted, “Originally, TAAL was interested in licensing a few key pieces of nChain IP. However, as the team at TAAL spent more time with the nChain research department, the licensing scope continued to grow. In the end, we penned a deal that is not only mutually beneficially for TAAL and nChain but will also help progress the entire industry: a broad and flexible license to a whole suite of tools and techniques that TAAL can leverage to deliver the scalable blockchain solutions that enterprises around the world are demanding today. On behalf of my team, I can say that we are truly excited about what’s to come. Our team does groundbreaking research, but nothing thrills them more than seeing those ideas put into action.”
In addition to an expansive portfolio of patents, nChain has further enhanced its leadership position in blockchain development through a recently completed acquisition of CREA, a blockchain development firm from Slovenia. This moves further cements nChain’s role as a powerhouse of blockchain development and solutions.
About nChain
nChain is the world’s leading provider of enterprise-grade blockchain solutions, helping businesses and organizations realize and protect the value of their data. nChain boasts the largest team of blockchain developers globally and a leading portfolio of novel blockchain IP. nChain is committed to helping clients maintain competitive advantage in business through more efficient management of data.
About TAAL Distributed Information Technologies Inc.
TAAL Distributed Information Technologies Inc. (CSE:TAAL) delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.
Press Contact: Alex Paquin, [email protected]
Related Links
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54839
Blockchain
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Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
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- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
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