Blockchain
Upco International Announces Interim Financial Results for the Third Quarter 2021
Vancouver, British Columbia–(Newsfile Corp. – December 3, 2021) – Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) (“Upco” or the “Company”) announced today financial results for the third quarter ended September 30, 2021.
Upco’s complete third Quarter 2021 Financial Results and Management Discussion and Analysis can be accessed from the SEDAR website at www.sedar.com.
Dear shareholders:
We are pleased to announce our impressive financial and operational achievements for Q3 leading first with three following highlights:
- Overall revenue has increased from prior periods, as the operation with Oktacom Inc. (Fully subsidiary of the Company) is focusing on growing its wholesale telecom business and the development of its mobile application and other activities whilst implementing the new Board of Directors’ business plan. Oktacom Inc aims to grow the wholesale VoIP business and is adding two new line of business which include Data, specifically enter in the market of Enterprise by providing SDWAN technology and CPAAS (Communication platform as a Service) and is continuously seeking capital to aid in the growth.
- The Company is also presently in the process of consolidating its wholesale business through the reorganization of its operations into Oktacom Inc., while trying to develop its own customer base via its attractive rates and flexible calling plans offered through Upco-out in its Upco Mobile Messenger application (the Digital Services business unit or B2C vertical of the business).
- The synergies between the B2B and B2C verticals will allow the Company to offer international long-distance calls through an internet connection using the Company’s existing VoIP network with more than 250 active Tier 1, 2 and global carriers that connect subscribers in 170 countries.
Juan Jose Ojeda, CFO of Upco International stated:
Financials
Revenue: $ 197.820 YTD Q3 2021 Vs. $ 48.819 YTD Q2 2021 (205% Increase) and $2.599 YTD Q3 2020
Gross Profit: $ 84.375 YTD Q3 2021 Vs. $18.255 YTD Q2 2021 (262% Increase) the second consecutive Quarter-over-Quarter increase.
FY – 2021 Positive Financial Trend
Revenue: $ 149.001 Q3 2021 $41.916 Q2 2021 $6.903 Q1 2021
Current liabilities: $ 221.787 YTD Q3 2021 Vs. $ 412.396 (Audited) December 2020, Decrease 46%
Liquidity
As of September 30, 2021, the Company had positive working capital of $1,202,633 (December 31, 2020 – working capital deficit of $ 511,667) and a cash position of $1,561,641 (December 31, 2020 $5,134).
Cash used in operating activities during the period ended September 30, 2021 was $970,191 (2020 – $350,292). The overall increase in spending is related to regularization of accounts payables.
IFRS
The operational and financial information in this release is based on the consolidated figures in accordance with International Financial Reporting Standard (IFRS).
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to share account information securely with their clients.
Please visit www.upcointernational.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
[email protected]
+1 (646) 7661275
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106416
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
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Blockchain
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.
Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.
Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.
Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.
Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.
Source: news.bitcoin.com
The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.
Blockchain
Tech Trends Shaping Retail: From AI to Blockchain
Various technology trends are discussed that are shaping the retail industry, from artificial intelligence (AI) to blockchain. These trends are driving significant changes in how retailers operate and engage with customers, offering new opportunities for innovation and growth.
Artificial intelligence (AI) is highlighted as a key technology trend that is revolutionizing various aspects of the retail industry. AI-powered solutions enable retailers to analyze vast amounts of data, personalize customer experiences, optimize supply chain operations, and enhance decision-making processes. From chatbots and virtual assistants to predictive analytics and recommendation engines, AI is enabling retailers to deliver more personalized and efficient services to their customers.
Blockchain technology is another trend shaping the retail industry, offering benefits such as enhanced transparency, security, and traceability in supply chains and transactions. By leveraging blockchain, retailers can improve inventory management, streamline payments, prevent counterfeit products, and enhance trust and accountability throughout the supply chain. Additionally, blockchain enables retailers to create decentralized marketplaces and loyalty programs, providing new opportunities for customer engagement and loyalty.
Other technology trends discussed in the article include augmented reality (AR) and virtual reality (VR), which are transforming the way consumers shop and interact with products online and in-store. By enabling immersive shopping experiences, AR and VR technologies allow retailers to showcase products more effectively, reduce returns, and increase customer engagement and satisfaction.
Technology trends such as AI, blockchain, AR, and VR are reshaping the retail landscape, driving innovation, and enabling retailers to meet the evolving needs and expectations of consumers in an increasingly digital world. As retailers continue to embrace these technologies, they are poised to unlock new opportunities for growth and differentiation in the competitive retail market.
Source: 365retail.co.uk
The post Tech Trends Shaping Retail: From AI to Blockchain appeared first on HIPTHER Alerts.
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