Blockchain
Agtech’s JV Partner City Farm Industries Signs MOU Agreement for Another $2.5m Investment
Newport Beach, California–(Newsfile Corp. – October 5, 2021) – Agtech Global International Inc.’s (OTC Pink: AGGL) (Agtech) (name change to Galexxy Holdings in process) Joint Venture partner, City Farm Industries (CFI), has signed an MOU dated September 29, 2021, for a $2.5 million Joint Venture investment with a private investor, to kick start its large-scale greenhouse Hemp CBD cultivation program on its 1600-acre leasehold property in the Central Valley of California.
This $2.5 million additional investment is on top of the $10 million staged capital investments planned by AGGL to expand the Agtech-CFI joint venture’s production capacity of multi-span, climate-controlled greenhouses to 320,000 square feet, in 80,000 square feet “POD” configurations.
The investor and CFI will form another Joint Venture company, to be owned 75% by the investor and 25% by CFI. CFI will provide a sub-lease to the new joint venture to accommodate one large-scale POD comprising of eight greenhouses that will total 80,000 square feet. CFI shall provide the new joint venture with the first two greenhouses, that were recently received from China and investor shall assist in the installation for operations to commence as soon as possible. Investor will then place new greenhouse orders through CFI to increase CFI’s capacity. The joint venture sub-lease shall be for 2 years unless mutually extended.
The new Joint Venture investment enables CFI’s early development of an additional 80,000 square feet of greenhouse capacity that can produce 28,000 lbs of CBD flower per year with an expected market value of $8.4 million. Agtech holds the Option to acquire CFI.
Agtech’s CEO, Ross Lyndon-James stated, “This new investment for CFI is complimented by Agtech’s recently acquired Blockchain advanced operating system which provides the Agtech-CFI joint venture with the advantages of a fully encrypted CBD seed to sale tracking capability, necessary regulatory compliance and detailed supply chain controls.”
Agtech Global International Inc. (to be known as Galexxy Holdings Inc.) is a soil to sale CBD manufacturer and online marketing company that is publicly traded on OTC Markets Pink (OTC: AGGL). Based in Newport Beach, California, the recent restructuring of Agtech has included a change of control and a name change. Agtech has applied to FINRA to approve the name change and obtain a new trading symbol.
Agtech Global International Inc.
Ross Lyndon-James
E:
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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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