Blockchain
NetCents Technology Developing Smart Contract Product for Merchants and Users on a Global Basis
Announces Its First Collaboration with a Leading Sports Agency
Vancouver, British Columbia–(Newsfile Corp. – December 4, 2020) – NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments company, is pleased to announce that it is developing a smart contract-based non-fungible token1 (NFT) platform for use by its merchants, and ultimately its user base to allow authenticity and provenance tracking of products using Ethereum smart contract technology. This product opens up a whole new use case for the development of the blockchain universe.
Non-fungible tokens contain identifying information recorded in their smart contracts. It’s this information that makes each NFT different and as such, they cannot be directly replaced by another token. They cannot be swapped like for like, as no two are alike. Banknotes or Bitcoin, in contrast, can be simply exchanged one for another, if they are the same value, there is no difference to the holder.
With this innovation, NetCents is immediately focusing on the sports authentication/memorabilia market and has recently signed a partnership with The Human Interest Group based in Boulder, Colorado. Together, NetCents and the Human Interest Group will be bringing the first application of the technology to market allowing buyers and sellers of merchandise to prove ownership and authenticity of the item when purchased through the NetCents platform. The companies will also be co-developing industry specific perks aligned with NetCents’ cryptocurrency business solutions to benefit merchants, athletes, and consumers in active lifestyle markets.
Cryptocurrency experts expect NFTs to find broad acceptance in the collectible, sports memorabilia, gaming, art, jewelry, and other areas where rare items are bought and sold. NFT’s have already gained mainstream adoptions with Formula 1, NFL, NBA, Vodafone, Louis Vuitton, and Nike beginning to use NFT’s for their products2.
“We have spent 2019 building our technology – and 2020 deploying it,” stated Clayton Moore, Founder and CEO of NetCents Technology. “We have proven that we can make completing a transaction using crypto as seamless as using a debit card. Our future vision for 2021 and beyond includes creating products that makes crypto the PREFERRED solution. It ADDS and ENHANCES the value of a transaction that traditional payment methods cannot replicate. That is where we’re going, and we are thrilled to be leading this new future!”
The Company has experienced rapid growth in 2020 within its existing ecosystem. In October, the Company announced that it had exceeded $27 million in transactions within the Company’s platform in 2020, with much of this growth attributable to the Company’s focus on B2B merchant base globally. To drive future growth and diversify the Company’s revenue and technology portfolio, the Company will continue to innovate and bring new products to market, like the NFT platform and expand into new markets like the North American sports industry and their over USD 75 billion dollars in annual revenue3.
The Human Interest Group represents and has worked with world-class athletes worldwide and major sports leagues, including the NFL, NHL, and MLB. The goal of this collaboration is to bring merchants and athletes from around the world together in a specially created ecosystem that enables athletes, and ultimately their fans, to be part of combining their love for sports, and trading of unique sports paraphernalia, with the expanding interest in the use of cryptocurrencies around the world.
“Elite world-class athletes are the best at what they do and are always searching for new boundaries to explore. Well, this is entirely a new boundary marrying up the physical world with the intangible crypto world,” stated Franko Vatterott, Founder of The Human Interest Group. “We are excited to be the first group to work on this venture with NetCents. Additionally, it is exciting to think of athletes, sponsor brands and ultimately, users coming together in a unique forum that has never been done before. It truly is a new world.”
Owners of rare physical products, who are often subject to concerns around its authenticity, will be able to utilize NetCents’ technology to create their own unique NFT. This one-of-a-kind authentication goes on the blockchain with a timestamp, thereby assuring merchants and consumers alike that the item in their possession is indeed the genuine item.
A potential use case of an NFT in this scenario would be a branded authenticated digital photo issued in a numbered series to purchasers from a specific Merchant, perhaps as part of a Holiday Promotion. The user would receive the memorabilia – which is authenticated on the blockchain. The only way to get the NFT would be to complete the transaction through the NetCents technology available through the dedicated website created in conjunction with the team at The Human Interest Group.
NetCents and The Human Interest Group will be sharing the broad nature of their relationship and capabilities in a future press release.
About The Human Interest Group
The Human Interest Group (HIG) is a sports marketing and business development firm focused on developing specialized projects between world-class endurance athletes, brands, and end-user consumers. We have designed, executed, and consulted in cutting-edge marketing campaigns for organizations of all sizes; from start-ups, to global brands, to foreign governments. The Human Interest Group has over 45 years of combined experience in business development, marketing, and brand association with world-class athletes, sports organizations, and corporations. HIG’s principal and staff have a broad spectrum of work experience in many professional sports circles including Ironman triathlon, professional Cycling, NFL, MLB, NHL, Premier League Soccer, and various Olympic Committees, plus the insider knowledge of the sports worlds of triathlon, running, boxing, swimming, and skiing.
HIG works with 21 athletes currently and 19 are outside of North America. Some key players they have worked with in the past, or currently, include Justin Gatlin who is a 5X Olympic medalist, Dave Scott the first 6X Ironman Hawaii Championship winner, and Craig Alexander, a former 2X Ironman World Champion.
HIG website is www.humaninterestgroup.org.
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 Investor Relations: [email protected].
To keep up on the latest – make sure to join the telegram channel http://t.me/NetCents.
On Behalf of the Board of Directors
NetCents Technology Inc.
“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.
____________________
1A non–fungible token (NFT) is a particular type of cryptographic token representing something unique; non–fungible tokens are thus not mutually interchangeable. This contrasts with cryptocurrencies like bitcoin and many network or utility tokens that are fungible in nature. https://cointelegraph.com/magazine/nonfungible-tokens/#/
2https://cointelegraph.com/magazine/nonfungible-tokens/#fungible-vs-non-fungible
3https://www.statista.com/statistics/214960/revenue-of-the-north-american-sports-market/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69454
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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