Blockchain
TAAL Purchases Assets Supporting Blockchain Transaction Processing Operations
TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ | OTCQB:SQRMF) (“TAAL“) is pleased to announce that today it has closed on the asset purchase agreement (the “Agreement“) with Tansley Equipment Limited, Fractical Sense Limited and Laser Lollypop Limited (together, the “Sellers“), three companies affiliated with Mr. Calvin Ayre (the “Principal“), to acquire over 50,000 non-operational cloud computing units (the “Cloud Computing Assets“) located in the United States (the “Transaction“).
TAAL intends to use the acquired Cloud Computing Assets to support its ongoing operations and blockchain infrastructure in order to generate cash proceeds. Further, TAAL intends to upgrade the Cloud Computing Assets with TAAL’s custom components and to optimize them using its proprietary techniques, which is expected to enhance the performance and efficiency of the Cloud Computing Assets. The Cloud Computing Assets are expected to be deployed to support ongoing blockchain transaction processing operations and position TAAL to establish a significant operational footprint in North America. The Cloud Computing Assets are expected to be utilized by TAAL to offer specialized services to enterprises that require large volumes of transactions processed in North America on an ongoing basis on a reliable blockchain (known as ‘block building’). TAAL anticipates that Bitcoin SV (BSV) provides the best blockchain network to support such specialized services to enterprises, supporting large transaction volumes due to BSV’s scaling and microtransaction capabilities.
Further to TAAL’s press release dated February 17, 2020, in satisfaction of the aggregate purchase price (the “Purchase Price“) of US$4,093,374 payable by TAAL to the Sellers as consideration for the Cloud Computing Assets, 2,279,215 non-voting participating shares of TAAL were issued to the Principal in satisfaction of the Purchase Price at a price of C$2.41 per share. The price per share was calculated by dividing the Purchase Price, as converted based on the daily exchange rate quoted by the Bank of Canada on March 6, 2020, divided by the agreed to volume weighted average price of the common shares in the capital of TAAL trading on the Canadian Stock Exchange (the “CSE“) over the 10 trading days preceding the closing date of the Transaction. In connection with closing of the Transaction, TAAL and the Sellers entered into a pledge agreement, the result of which was a pledge following closing of the shares issued pursuant to the Transaction as security for the release of the Cloud Computing Assets to TAAL free and clear of liens on or before September 4, 2020.
Further to TAAL’s press release dated January 28, 2020, TAAL has issued a Request for Proposal, seeking partners to host up to 90 megawatts of computing power. The Cloud Computing Assets are expected to provide such computing power. The Request for Proposal submission deadline is March 15, 2020.
Subsequent to TAAL’s upgrade and optimization program, the Cloud Computing Assets are expected to be deployed after the passing of a Bitcoin network-wide event termed the “Halving”, which takes place approximately every four years. Upon the Halving, the subsidy component of the block creation reward is reduced by one-half. The subsidy is expected to decrease from its current 12.5 coins to 6.25 coins per block successfully processed on the Bitcoin SV (BSV) network in April 2020, and on the Bitcoin Core (BTC) network in May 2020. TAAL is focused on developing a fiat-based revenue and business channel dedicated to the custom processes of blockchain transactions for enterprise clients building upon the Bitcoin SV (BSV) blockchain. Deployment of the Cloud Computing Assets is expected to occur after the Halving to ensure SHA-256 based blockchain networks have stabilized after such event.
SOURCE TAAL Distributed Information Technologies Inc.
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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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