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TAAL Purchases Assets Supporting Blockchain Transaction Processing Operations

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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.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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