Blockchain
Canopy Growth Announces David Klein as New Chief Executive Officer
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) is pleased to announce that effective January 14, 2020, David Klein has been appointed as the Company’s Chief Executive Officer.
David brings a wealth of expertise to this role, having served in a number of senior leadership capacities over the past 14 years at Constellation Brands. His capabilities include extensive CPG and beverage alcohol industry experience, strong financial orientation, and experience operating in highly regulated markets in the U.S., Canada, Mexico and Europe. David is an experienced strategist with a deep understanding of how to build enduring consumer brands while leveraging operational scale across a dispersed production footprint. He is a strong leader with a proven track record of developing diverse and high performing teams.
In his current role as executive vice president and chief financial officer at Constellation Brands, David oversees all aspects of the company’s finance operations, all mergers and acquisitions, as well as the company’s information technology function. He is widely respected among members of the U.S. investment community, earning recognition as a top CFO by Institutional Investor magazine the past three years. David serves as a member of Constellation Brands’ executive management committee. He has served on the Canopy Growth Board of Directors for over a year and is presently Canopy Growth’s Board Chair. This familiarity with the Company’s current leadership team and strategy will allow David to integrate quickly, a major benefit in the fast-moving cannabis sector.
“Canopy Growth sits at the forefront of one of the most exciting new market opportunities in our lifetime,” said Klein. “Thanks to the efforts of Mark and the entire team at Canopy Growth, no company is better positioned to win in the emerging cannabis market. I look forward to working with the team to build on the foundation that has been laid, to develop brands that strongly resonate with consumers, and to capture the market opportunity before us. Together we will drive sustainable, industry-leading growth that benefits employees, shareholders and the communities in which we operate.”
The appointment of David Klein follows a thorough recruitment process overseen by a special Hiring Committee of the Board using global recruitment company Heidrick & Struggles, which saw a wide variety of exceptional candidates vetted and interviewed. David will step down from all other positions he currently holds, remaining a member of the Canopy Board of Directors. The Company intends to appoint a new Chairperson upon David’s effective date as CEO.
Consistent with the previously announced transition plan, with a new CEO identified Mark Zekulin will be stepping down from his role as CEO and resigning his seat on the Board of Directors of Canopy effective December 20, 2019. As a founding employee of Canopy Growth (then Tweed Marijuana Inc.), Mark was instrumental in building Canopy into what it is today first in the role of President, then President and Co-CEO, and finally as CEO.
“It has been an incredible six years at Canopy Growth, and I have witnessed the team and Company grow from five people in an abandoned chocolate factory, to thousands of people across five continents,” said Zekulin. “Canopy today is positioned to win with the resources, infrastructure, team, and award-winning culture needed to succeed. It has truly been an honour to be part of building a unique, Canadian success story like Canopy, and I look forward to seeing the Company continue to evolve and grow under David’s leadership.”
SOURCE Canopy Growth Corporation
Blockchain
AI Predicts China Will Ban High-Energy Blockchains
China, renowned for its significant role in the global cryptocurrency mining industry, is facing increasing scrutiny over the environmental impact of its growing blockchain sector. Concerns about carbon emissions and energy consumption are prompting regulatory bodies to take action.
To understand the future trajectory of this sector, we consulted leading AI platforms to predict the fate of eco-friendly digital currencies, often referred to as “green cryptocurrencies.”
Regulators worldwide are expected to focus on sustainability and reducing energy consumption in cryptocurrencies. This could lead to potential restrictions on high-energy blockchains. Green cryptocurrencies, such as Cardano, Algorand, and Tezos, utilize Proof of Stake (PoS) consensus mechanisms, significantly reducing their carbon footprint compared to traditional Proof of Work (PoW) systems like Bitcoin.
Bitcoin, the most well-known cryptocurrency, is under scrutiny due to its substantial energy demands.
A single Bitcoin transaction consumes a significant amount of electricity, which raises environmental concerns. As the focus on green technologies grows, it may influence Bitcoin’s price and the broader cryptocurrency market, potentially driving interest towards more sustainable alternatives.
On the global stage, responses to the crypto energy crisis vary. Some countries like Sweden and Iceland have embraced green crypto mining due to their renewable energy sources. However, China, once a leader in crypto mining, is predicted to implement a ban on high-energy blockchains to address environmental degradation associated with these activities.
This anticipated ban could encourage other nations to consider similar measures or adopt more sustainable practices in crypto mining. The collective shift towards green crypto could reshape the economic and environmental landscape of digital finance, creating a new paradigm where technology and sustainability coexist for global benefit.
Source: cyrptonews.com
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Blockchain
German Bank Set to Tokenise Bonds, Drive Blockchain Adoption: Details
The finance sector worldwide is increasingly exploring blockchain technology, which offers permanent transaction records and reduces reliance on centralized Web2 servers. Germany’s Kreditanstalt fuer Wiederaufbau (KfW), the third-largest state-owned bank, is now joining this trend by planning to issue its first blockchain-based digital bond. This move not only marks KfW’s entry into blockchain but also aims to drive wider adoption of the technology.
The bond KfW plans to issue will be tokenized, essentially creating a virtual representation of the bond on a blockchain to validate its transactional history and ownership. Tokenization offers several advantages, including the automation of interest payments and maturity settlements, as well as reducing the need for intermediaries, thereby cutting overall transaction costs.
Melanie Kehr, Member of the Executive Board of KfW Group, described the planned bond issuance as a “crypto security” and emphasized the bank’s commitment to innovation.
Source: gadgets360.com
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Blockchain
Pair jailed for £5.7m cryptocurrency scam
Two men, Jake Lee and James Heppel, have been sentenced to jail for stealing over £5.7 million worth of cryptocurrency from victims globally. Identified by the South West Regional Organised Crime Unit (SWROCU), the pair targeted 55 victims across 26 countries, including 11 from the UK. Lee received a four-year prison term, while Heppel was sentenced to 15 months.
The fraud involved replicating the website of the cryptocurrency exchange Blockchain.com to access victims’ Bitcoin wallets, enabling them to steal funds and login details. The police confiscated various assets, including £551,000 in cash, £64,000 worth of cryptocurrency, and a Banksy print valued at £60,000.
Lee was ordered to pay nearly £1 million as part of a confiscation order to compensate victims, with similar proceedings underway for Heppel. The investigation began when Lee was arrested on suspicion of money laundering, leading to the discovery of the cryptocurrency scam involving Heppel. Detective Superintendent Matt
Source: bbc.com
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