Blockchain
NxGen Brands, Inc. Announces Partnership with Digital Supply Chain and Blockchain Developer to create a Proprietary Cloud-based Framework for Delivery Services and Licensing to MJ Dispensaries Nationwide
NxGen Brands Inc. (OTC: NXGB) (“NXGB” or the “Company”), is pleased to announce that it has partnered with a digital supply chain & blockchain developer to allow the Company to enter into the rapidly growing U.S. cannabis dispensary delivery services market. The partner, Bengala Technologies LLC, is a nationally recognized developer in this field located in West Palm Beach, Florida.
The partnership with Bengala Technologies LLC (https://bengalatech.io), will allow the company to deliver its own proprietary brands of flower and Leafywell™ products, and will allow it to create a national network to provide delivery services for dispensaries across the country. The sale and delivery for recreational and medicinal cannabis is projected to see explosive growth through 2027 reaching $73.6B, and this transaction allows the Company to be at the forefront of the projected wave.
A cannabis dispensary delivery provider must adhere to multiple local, state and national regulations, including licensees, transportation and delivery requirements. The blockchain digital supply chain technology apps to be developed for the Company will address these issues and allow the Company to be compliant and adhere to the regulations across all national markets.
“Angel Burgos, the Company CEO said: “Cannabis companies that provide delivery services – including delivery operators and retailers – are seeing a deluge of orders as customers stock up on marijuana products in the wake of current pandemic concerns. Our hope is that, after opening projected operations in California, Michigan and we will then do the same in Florida. Initially for medicinal delivery services while awaiting pending recreational approval. Internal research has demonstrated that faster delivery can spur increased sales and help to increase revenues.”
Bengala Technologies LLC, achieved excellence in the field of blockchain consulting and development by creating and deploying custom decentralized blockchain and supply apps including Supply Chain, Blockchain and Smart Contract Development applications.
Mr. Arnaldo Detres, the Managing Director of Bengala Technologies LLC, said: “There are so many variants of regulations in the cannabis delivery services and blockchain can meet these regulatory and supply side needs from available inventory and supply to delivery for the proposes of local authentication and validation rules. Blockchain can enable more transparent and accurate end-to-end tracking in the supply chain organizations can digitize physical assets and create a decentralized immutable record of all transactions, making it possible to track assets from production to delivery to end user.”
According to a recent report by ArcView Market Research and BDS Analytics, the global licensed dispensary sales of cannabis will reach $40.6 billion by 2024, registering a CAGR of 24.5%. The US will account for about $30 billion or 73% of the global cannabis dispensing market in 2024. It is projected that by 2024, the retail dispensing sales of legal recreational cannabis will cross $26.7 billion, whereas the revenue generated from the sales of medical cannabis will reach $13.9 billion. The retail sales of THC containing products from licensed dispensaries across the US will feature growth of nearly 300%, i.e., from $8.4 billion in 2018 to more than $24.7 billion in 2024.
The partnership will allow NxGen Brands to produce and ship via its proprietary direct delivery network with the software and technical technologies created by Bengala Technologies LLC, both existing CBD based SKU’s and cannabis-based products. This will allow the Company to market throughout the states which have recreational and/or medical and continue to establish and grow the Leafywell™ branded products. The transaction also aims at interacting with other companies and expanding the licensing deal possible focusing on combining its brands with medical licensed producers, to shape how future cannabis brands operate in the United States.
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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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.
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