Web3 refers to the next iteration of the World Wide Web incorporating novel technologies including blockchain. Adopting Web 3 is imperative for organizations to remain competitive in the global economy. NFTs, tokens, and blockchain can provide numerous advantages, such as complete tracking of the organizational supply chain, improved efficiency, enhanced customer experience, create a new sales channel, digitalize assets, and increase profitability over time. In order to remain relevant in this fast-changing world of digital currencies and applications, embracing Web3 offers an organization the opportunity to build a new foundation for success. By being proactive now and understanding the potential of NFTs, tokens, and blockchain optimized for long-term growth, an organization will be well positioned with cutting edge technologies as new opportunities become available in the future.

In 2023, the Web3 sector is expected to be worth more than six trillion dollars, according to Market Research Future. From financial services to ecommerce and retail, entertainment and media, IT, Government, and energy: Almost every sector is expected to adopt Web3 in the very near future.

Sandor Miklos, CEO for Everdime said, “We’re excited to offer this new service to our clients. It’s a great way to help small and medium size enterprises get up and running utilizing Web3 quickly and cost effectively. We have a team well experienced in finance, blockchain integration and smart contract development giving Everdime a leg up on the competition and providing sustainable revenue growth opportunity for the company. Stay tuned for more exciting news.”

About Everdime Inc.
Everdime, Inc., a Delaware corporation, is a multidisciplinary blockchain technology innovator providing non-custodial, white label and customized Web3 solutions for enterprise, social networks and organizations.  The Company’s shares are traded via OTC Link under the symbol RGST (the Company has a pending symbol change request), and current financial and other information is available at www.otcmarkets.com. Additional information about the Company is available at www.everdime.com

CycurID Technologies Ltd., (“CycurID” or the “Company”), is pleased to announce the release of the first fully compliant, transaction-monitored and privacy-based, non-custodial cryptocurrency wallet.

The imme Wallet has been developed to allow everyday persons to participate in the evolving digital marketplace without the fear of dealing with cryptocurrencies from illicit sources and activities, such as sanctioned wallets and the dark web.

Mehdi Mehrtash, CycurID CTO and Co-founder said, “Some of the biggest hurdles preventing the mass adoption of cryptocurrency are: the lack of understanding arising from the use of technical jargon, and misleading information regarding the true risks involved in dealing with cryptocurrencies. The imme app and wallet were developed to provide an easy to use, consumer-focused, and transparent experience that maintains user anonymity while providing feedback on the quality of their transactions.”

Similar to how you would open a bank account, users of the imme Wallet are authenticated through an automated onboarding process which performs an ID and background verification. Once the onboarding is complete, they are able to set up their wallet. The imme Wallet includes other functionalities such as: wallet reputation, transaction scoring, biometric transaction authorization, support for ETH and all ECR20 tokens, cloud-based wallet backup, and the ability to use Web3 domains powered by Unstoppable Domains.

“We’re working to bring Web3 to the world, and integrating with CycurID’s crypto wallet will help us do that,” said Sandy Carter, SVP and Channel Chief at Unstoppable Domains. “In order to become part of Web3, people need to feel secure, which is why we’re aligned with CycurID’s vision for a safe and compliant Web3 experience.”

All transactions from the imme Wallet are checked to determine if any of their funds have been commingled with funds from illicit activities or sources such as the dark web, sanctioned wallets and/or proceeds of crime. There is a 0.25% fee on every outgoing transaction that covers the continuous monitoring, and sanctioned address screening. This fee is in addition to the normal gas fee.

Mehrtash further added, “Our Company’s main goal is to ensure that consumer and business protections are central in all online transactions, while meeting regulatory and reporting requirements.”

For more information about CycurID’s complete suite of cost-effective identity solutions, visit the corporate website https://cycurid.com or contact CycurID here. Learn more about imme at imme.io or contact the imme team here.

No Offer or Solicitation.

This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any provinces, states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About          

CycurID Technologies Ltd. – CycurID is a privately held personal identity management and security software developer based in Vancouver, British Columbia. CycurID has developed proprietary patent pending identity management and privacy software which is available via its consumer app imme (I’m me). CycurID is registered with the Better Business Bureau, WorkSafe BC and with FINTRAC as Money Service Business (MSB). CycurID and imme are Registered Trademarks of CycurID Technologies Ltd. CycurID is also incorporated in the United States as CycurID Technologies USA Ltd.

Unless explicitly stated, the Company does not purport to retain title or interests to any imagery. All imagery has been used under license by the Company which allows the Company to use, reproduce, archive, modify, and display the Work, in all media, for (1) advertising, marketing, promotional and decoration purposes; and (2) personal and non-commercial uses.

Unstoppable Domains – Founded in 2018, Unstoppable Domains is a Web3 domain name provider and digital identity platform. Unstoppable Domains offers Web3 domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with hundreds of apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America’s Best Startup Employers in 2022.

Picsart, the world’s leading digital creation platform, today announced the launch of its newest generative AI feature, AI Avatar. The trend of generating personalized avatars using artificial intelligence continues to grow and Picsart is now offering the technology to its millions of creators, alongside a host of unique best-in-class editing tools and community right in the platform.

Using advanced machine learning algorithms, AI Avatar processes users’ photos to turn them into unique artistic portraits. Simply upload several selfies into the app and the technology will generate a selection of avatars that resemble you in a variety of different artistic styles including: Holiday Cheer, Superhero, Anime, and Main Character Energy.

AI Avatar offers creators the ability to customize their avatars even further using Picsart’s powerful editing tools, such as BG Remove, AI Enhance, and AI Background. Avatars can be used in many different contexts, such as for profile pictures for social media, creating marketing materials, making holiday greetings, and more.

“The ability for AI to create completely new portraits of a person in minutes was unheard of a year ago,” said Picsart Chief Product Officer, Mikayel Vardanayan. “Generative AI empowers everyone to make amazing things, and we’re excited to bring this new feature to creators everywhere along with all of our other powerful editing tools. AI Avatar is a fun, trending and transformative technology and we have much more of that to come.”

AI Avatar is Picsart’s latest addition to its suite of AI tools. Picsart recently released its AI Image Generator and AI Writer. Since launching, the AI Image Generator has created more than 30 million images and users are generating more than one million images per day. Picsart also released AI Background and AI Replace that can generate new objects and scenes in images.

AI Avatar is available now on Picsart on iOS and Android devices, and can be purchased in packs of 50,100, and 200. To access AI Avatar, download the Picsart app.

About Picsart

Picsart is the world’s largest digital creation platform. Its AI-powered tools allow creators of all levels to design, edit, draw and share photo and video content. Picsart has amassed one of the largest open-source content collections in the world, including photos, stickers, backgrounds, templates, and more. Used by consumers, marketers, content creators and businesses, Picsart is used for both personal and professional design. Available on mobile and web, Picsart offers its world class image editing and processing tools to businesses through APIs and an SDK. Headquartered in Miami, with offices around the world, Picsart is backed by SoftBank, Sequoia Capital, DCM Ventures, Insight Partners, and others. Download the app or visit picsart.com for more information.

Boost.ai, a Nordic Capital-backed global leader in conversational AI for enterprises, today announced that Jerry Haywood is joining the company’s executive team as Chief Executive Officer effective December 1, 2022. Haywood brings 20 years of enterprise technology experience with him and has held various sales and senior leadership positions at IBM, Cisco, and Salesforce. He joins Boost.ai from LivePerson, a global technology company that develops conversational commerce and AI software. Haywood will succeed founder and current CEO Lars Ropeid Selsås, who desires to devote more time to product development and innovation.

Selsås, who was actively involved in the selection process, alongside Co-Founder and Chief Commercial Officer Henry Vaage Iversen, and Chief Operating Officer Camilla Gjetvik, stated: “During this time of accelerated digital customer experience transformation, Boost.ai has never been better positioned to become a global category leader in conversational AI. This change in leadership is a natural step in the next growth phase for Boost.ai. Jerry is a strong and experienced visionary leader who can build on the solid foundation created over the last six years, and we are thrilled to have him join us. While it is his outstanding track record that made him a natural candidate for this key leadership role, it was his personality and people-oriented leadership style that impressed us most. He is approachable, humble, and full of energy. A natural leader who can create results while making it a fun ride.”

Vaage Iversen added: “I am very happy that Jerry has agreed to join the Boost.ai team as CEO and I’m glad that we are able to fulfil Lars’ desire to focus even more on what he is most passionate about – the technology needed to fundamentally disrupt the conversational AI category and to continue to provide the best automated customer interaction solution available on the market.”

For the last three years, Haywood has held the role of SVP EMEA at LivePerson, where he led the strategic repositioning of the company in Europe, achieving impressive growth. Prior to LivePerson, Haywood spent eight years at Salesforce, where he headed up Service Cloud first in the UK, and then for the rest of Europe, achieving an increase of over 30% in revenue and bookings year after year.

Haywood said: “I am really excited and honoured to join the Boost.ai team, at a time where the owners and leadership want to accelerate growth while positioning the company as a global category leader in the conversational AI space. Boost.ai is already very familiar to me. I have followed their amazing journey closely and I am convinced that the scale up has what it needs to go all the way. Boost.ai has the best technology available and an amazing team with some of the brightest minds in the industry. I want to thank the founders, the Board of Directors and Nordic Capital for their trust. I can’t wait to meet the team across the globe and get started.”

Haywood will balance his time between Stavanger, Norway, where Boost.ai is headquartered, and London, UK, one of Boost.ai’s key markets, where he lives with his wife and three children.

About Boost.ai

Boost.ai specializes in enterprise-grade conversational artificial intelligence (AI). Inventor of the world’s most scalable conversational AI platform, Boost.ai empowers enterprises to automate customer service and internal support channels, enhance human efficiency, and drive revenue with proprietary self-learning AI and a no-code solution that’s quick to deploy, easy to learn and highly scalable. Learn more at boost.ai.

Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Metaverse Company and leading provider of augmented reality (“AR”) Wayfinding technologies, and 3D model services for the largest prime ecommerce platform is pleased to announce its has achieved breakthrough 3D content creation capabilities. The Company plans on increasing and expanding its Artificial Intelligence (“AI”) capabilities. This breakthrough in its AI capabilities translates into the ability to scale 3D model production at a higher velocity, resulting in increased production capacity, which results in higher revenue growth and higher profit margins.

The backbone of Nextech’s 3D model creation factory is a proprietary platform for scaling 3D content creation though a “virtual assembly” line. Nextech is upgrading the AI 3D model creation tools that run as part of the platform, which now supports the creation of thousands of 3D models per month. These algorithms can automatically produce 3D assets in certain categories, and significantly accelerate 3D model creation in others. The AI has been enhanced to create 3D models that pass the exacting requirements for some of the world’s largest e-commerce marketplaces. The Company believes it has breakthrough AI and is continuing to work towards additional AI breakthroughs which will have significant implications for the scaling of Nextech’s 3D model production. The Company continues to focus on being the largest 3D model supplier for the $5.5 trillion dollar ecommerce ecosystem.

Nextech AR CEO Evan Gappelberg commented, “With our recently announced multi-million dollar enterprise contacts and now with our breakthrough AI, we are well on our way to becoming the biggest 3D model supplier for ecommerce. Over the past year, we have been building our 3D modeling technology to be stable, scalable and as an end-to-end solution. We believe that everything that has ever been made, everything that is being made today and everything that will be made in the future will need a 3D twin, which means hundreds of millions of 3D models will need to exist. Without AI we don’t believe that having millions of 3D models will be possible so we have been heavily investing in AI, which is now beginning to pay dividends.” He continued, “2023 is going to be the year of AI and 3D and I believe with our breakthrough AI that we are perfectly positioned to take full advantage of these two mega-trends.”

The creation of 3D models using AI is underway for multiple product categories including rugs, pillows, wall-art, jars and decorative objects. With today’s news, the Company has begun to implement its breakthrough part-based 3D model creation technology, which will start to show up throughout 2023, and will enable the platform to scale the creation of a larger class of modular objects, like chairs, tables, dressers, and more.

In addition, Nextech has implemented its proprietary physics-based-rendering (“PBR”) material estimation into Toggle 3D. Launched in September, Toggle 3D is an AR enhanced standalone web application which enables the creation, customization and publishing of high-quality 3D models and experiences. The proprietary PBR technology allows industrial designers, and 3D customers with CAD files at hand, to create CGI-ready 3D assets within minutes. Combined with the automated texturing tools, a CAD model can be turned into a photo-realistic, web-ready 3D/AR asset with just a few clicks and without any technical or 3D design knowledge required. Creating realistic materials is a significant part of 3D model creation. To create PBR materials from reference photos using AI, the Company has invented several new technologies that are covered under a recently filed patent titled: “MATERIAL ESTIMATION FOR THREE-DIMENSIONAL (3D) MODELING”. These tools allow artists to reduce the time required to create textures and materials from hours to mere minutes. Throughout 2023, the technology will be fully integrated into the 3D model creation portal and is expected to significantly decrease the time and cost of 3D model production.

As noted in a recent press release, the Company has filed a number of patents pertaining to this proprietary technology, protecting it with these patents. An additional patent recently filed is titled “GENERATING THREE-DIMENSIONAL MODELS BY PART”.

Examples of AI Technology: Using multiple photos (for example, 100) of a product from different angles, Nextech’s technology can create a 3D model of that product using AI techniques. On the left, the reconstructed 3D model is rendered from the same angle of a reference photo on the right.

Videos

White Table – This was created using only two reference photos from the product. Since there are not enough photos from different angles, it is not easy to directly infer the whole 3D shape of the product. Instead, since it is known that it is a table, AI algorithms are used to create a 3D model of a table that matches the photos.

Textured Colored Table – This is the same process as the previous video, adding the estimation of the textures.

About Nextech AR

Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands.

On October 26, 2022 Nextech AR spun out its spatial computing platform, “ARway” as a stand alone public Company. Nextech AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake. ARway is currently listed on the Canadian Securities Exchange (CSNX:ARWY), in USA on the (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.

To learn more about ARway, visit https://www.arway.ai/

Snorkel AI, the data-centric AI platform company, today introduced Data-centric Foundation Model Development for enterprises to unlock complex, performance-critical use cases with GPT-3, RoBERTa, T5, and other foundation models. With this launch, enterprise data science and machine learning teams can overcome adaptation and deployment challenges by creating large, domain-specific datasets to fine-tune foundation models and using them to build smaller, specialized models deployable within governance and cost constraints. New capabilities for Data-centric Foundation Model Development are available within Snorkel Flow, the company’s flagship platform, in preview. Visit here to join the virtual launch event at 10 AM PT on November 22, 2022.

Foundation models such as GPT-3, DALL-E-2, Stable Diffusion, and more offer a lot of promise for generative, creative, and exploratory tasks. But enterprises are still nowhere close to deploying foundation models in production for complex, performance-critical NLP and other automation use cases. Enterprises need large volumes of domain- and task-specific labeled training data to adapt foundation models for domain-specific use. Creating these high-quality training datasets with traditional, manual data labeling approaches is painfully slow and expensive. Moreover, foundation models are incredibly costly to develop and maintain and pose governance constraints when deploying in production.

These challenges must be addressed before enterprises can reap the benefits of foundation models. Snorkel Flow’s Data-centric Foundation Management Development is a new paradigm for enterprise AI/ML teams to overcome the adaptation and deployment challenges currently blocking them from using foundation models to accelerate AI development.

Using early versions of Data-centric Foundation Management Development, AI/ML teams have built and deployed highly-accurate NLP applications in days:

• A top US bank improved accuracy from 25.5% to 91.5% when extracting information from complex, multi-hundred-page long contracts.
• A global home goods e-commerce company improved accuracy by 7-22% when classifying products from descriptions and reduced development time from four weeks to one day.
• Pixability distilled knowledge from foundation models and built smaller classification models with more than 90% accuracy in days.
• Snorkel AI research team and partners from Stanford University and Brown University have achieved the same quality as a fine-tuned GPT-3 model with a model that was over 1000x smaller on LEDGAR, a complex 100-class legal benchmark task.

“With over 500 hours of content created on YouTube every minute, we need to constantly and accurately categorize billions of videos to make sure we fully understand the context of videos so that advertisers can be sure they are running their ads on brand suitable content,” said Jackie Swansburg Paulino, Chief Product Officer at Pixability. “With Snorkel Flow, we can apply data-centric workflows to distill knowledge from foundation models and build high-cardinality classification models with more than 90% accuracy in days.”

Enterprise Foundation Model Management Suite features include:

• Foundation Model Fine-tuning to create large, domain-specific training datasets to fine-tune and adapt foundation models for enterprise use cases with production-grade accuracy.
• Foundation Model Warm Start to use foundation models and state-of-the-art zero- and few-shot learning to auto-label training data with a push of a button to train deployable models.
• Foundation Model Prompt Builder to develop, evaluate, and combine prompts to tune and correct the output of foundation models to precisely label datasets and train deployable models.

“Enterprises have struggled to harness the power of foundation models like GPT-3 and DALL-E due to fundamental adaptation and deployment challenges. To work in real enterprise use cases, foundation models need to be adapted using task-specific training data and need to clear major deployment challenges around cost and governance,” said Alex Ratner, CEO and co-founder at Snorkel AI. “Snorkel Flow’s unique data-centric approach provides the necessary bridge between foundation models and enterprise AI, solving the adaptation and deployment challenges so enterprises can achieve real value from foundation models.”

About Snorkel AI
Founded by a team spun out of the Stanford AI Lab, Snorkel AI makes AI application development fast and practical by unlocking the power of machine learning without the bottleneck of manually-labeled training data. Snorkel Flow is the first data-centric AI platform powered by programmatic labeling. Backed by Addition, Greylock, GV, In-Q-Tel, Lightspeed Venture Partners and funds and accounts managed by BlackRock, the company is based in Palo Alto.

For more information on Snorkel AI, please visit: https://www.snorkel.ai/ or follow @SnorkelAI.

OneSpan Inc. (NASDAQ: OSPN), the digital agreements security company, today announced that it has agreed to acquire ProvenDB, an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology, to provide an industry-leading trust model for high assurance contracts and documents.

ProvenDB will extend the capabilities of OneSpan’s Transaction Cloud Platform to both public and private blockchains and serve as a modern technological foundation for high assurance business processes for Web3.

ProvenDB has been at the forefront of developing secure storage, leveraging blockchain technology that adds a layer of security to prevent data tampering or alteration of documents. When information is added to ProvenDB, digital signatures are created and posted to an immutable public blockchain. ProvenDB’s secure storage and vaulting solutions provide proof of the integrity, ownership and creation date of critical information.

OneSpan continues to execute its mission to deliver easy and secure customer experiences that ensure the integrity behind digital transactions and agreements. With this acquisition, OneSpan plans to combine ProvenDB’s technology with OneSpan’s Transaction Cloud Platform to provide an integrated end-to-end assurance model which includes a secure repository for documents and artifacts that require the highest levels of compliance and assurance. This highly complementary acquisition expands OneSpan’s addressable market, solves customers’ secure vaulting needs, and accelerates OneSpan’s leadership in securing digital agreements throughout the customer transaction lifecycle.

“Digital artifacts are simply too easy to fabricate, tamper, or delete in the era of Web3 leading to security breaches and loss of trust in digital information. In this world of evidence tampering and deep fakes, it is critical that we have non-repudiation and copies of the original artifact with an immutable chain of custody throughout the entire customer journey,” said Matthew Moynahan, President and CEO at OneSpan. “Securing business processes end-to-end leveraging blockchain technology will play an increasingly critical role in preserving the integrity of digital transactions and agreements to fuel this modern digital era. We have an ambitious plan to disrupt the digital agreement market and ProvenDB will accelerate that plan. OneSpan’s mission, the focus of our entire go-to-market strategy, is to restore trust and confidence in today’s most critical customer experiences, such as revenue-generating transactions or customer and vendor onboarding, and ensure that their integrity is never in question.”

“OneSpan’s expertise in digital identity and agreements married with ProvenDB’s blockchain-backed storage solutions will enable a paradigm shift in trust and integrity for digital agreements,” said Guy Harrison, CTO at ProvenDB. “We are excited to join OneSpan to bring our technology to the digital agreement market.”

“We are thrilled to announce the acquisition of ProvenDB by OneSpan,” said Vinny Smith, Managing Partner at Toba Capital. “This union brings together two industry leaders in their respective fields, resulting in a powerful combination that will revolutionize how businesses create trustworthy digital agreements. We have no doubt that ProvenDB’s cutting-edge blockchain technology, paired with OneSpan’s expertise in digital identity and authentication, will set a new standard for digital integrity and trust. We look forward to seeing the impact this acquisition will have on the industry.”

Terms of the agreement were not disclosed, and the transaction is anticipated to close during the first quarter of 2023, subject to customary closing conditions.

About Toba Capital

Toba Capital is an early-stage investment firm committed to helping create incredible technology companies. Toba looks for businesses capable of long-term growth and teams with the potential to fundamentally shift markets for the common good. Toba Capital takes a high-conviction, and hands-on approach to venture investing. The firm has a single LP evergreen fund structure, which means its process and investment horizons are highly aligned with the teams it backs. Toba Capital was founded in 2012 by Vinny Smith and has offices in Los Angeles and Newport Beach.

About ProvenDB

ProvenDB uses Blockchain technology to create a completely trustworthy database. Immutable versions of database state are anchored to the Blockchain, delivering unparalleled data integrity. ProvenDB Compliance Vault is a tamper-resistant store for compliance data and other documentation built on the ProvenDB database engine. ProvenDB is based in Melbourne, Australia.

About OneSpan

OneSpan helps organizations accelerate digital transformations by enabling secure, compliant, and refreshingly easy customer agreements and transaction experiences. Organizations requiring high assurance security, including the integrity of end-users and the fidelity of transaction records behind every agreement, choose OneSpan to simplify and secure business processes with their partners and customers. Trusted by global blue-chip enterprises, including more than 60% of the world’s largest 100 banks, OneSpan processes millions of digital agreements and billions of transactions in 100+ countries annually.

For more information, go to www.onespan.com.

• This shift aims to enhance business opportunities, profit-sharing structures, and network security, while ensuring openness, transparency and censorship resistance
• Consensus algorithm will be improved to allow for the participation of as many validators as possible without compromising Klaytn’s performance

Klaytn Foundation, the non-profit overseeing the growth of the Klaytn ecosystem, has announced the transition to a permissionless validator structure. In time, anyone will be able to participate in the Klaytn ecosystem as a block validator alongside existing Governance Council (GC) node operators, as long as they meet minimum qualifications that are currently being finalized. With network incentives now provided at the protocol level, the transition to a permissionless validator structure will allow more to participate in the block validation process, paving the way for greater decentralization of the Klaytn ecosystem.

Klaytn’s consensus algorithm will be improved in order to allow as many validators as possible to participate without compromising network performance. Plans are also in progress to establish qualifications, compensation, and penalties for block validators in order to ensure network stability. Beyond maximizing network effects, increased validator participation will also result in enhanced security and censorship resistance. By increasing KLAY transactions and diversifying the network of depositors, Klaytn’s permissionless validator structure will make it more difficult for malicious attacks, such as hacking or censorship attempts, to occur.

A crucial component of the Klaytn ecosystem, validators function as Core Cell Operators (CCO) that operate both consensus and proxy nodes: verifying the accuracy of data contained in new blocks and ensuring that blocks are processed efficiently across the network. As Klaytn transitions to a permissionless system, it will grant a wider range of privileges to end-users such as block validation rewards and node rights, which can be leveraged to create new business opportunities. Node authority on the Klaytn network can be used to create decentralized finance (DeFi) services, including public staking services, or by integrating tokenomics into new business structures and operations.

“Permissionless systems, like those used by well-known blockchain projects such as Bitcoin and Ethereum, are essential for Klaytn as we strive for decentralization, transparency, and openness,” said Sangmin Seo, Representative Director at Klaytn Foundation. “With the shift to a permissionless validator structure and through future strategic business activities, we hope to create a more competitive Klaytn ecosystem in the global market and ultimately share our successes with all participants.”

Klaytn’s compensation system for block validators will be based on two factors: the performance of block validation and the amount of KLAY that is staked. Those who demonstrate strong validation performance and have a larger amount of KLAY staked will receive higher compensation. This is intended to incentivize positive behavior and influence on the platform, as well as improve the profit distribution structure.

Put forth to the Klaytn Governance Council on 4 November 2022, the proposal to amend Klaytn’s validator structure was approved by way of voting, which concluded on 19 December 2022. 18 GC members participated in the vote, with 6 abstentions, 3 votes against and 9 votes in favour, including those from Kakao, Ground X, and Netmarble.

Post-transition, Klaytn will maintain its current governance structure, with Governance Council members – an alliance of multinational businesses and organizations – remaining committed to platform governance, consensus node operation, and ecosystem growth.

About Klaytn:

Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is now undergoing global business expansion from its international base in Singapore, led by the Klaytn Foundation.

Since unveiling its metaverse roadmap in early 2022, the Ethereum-equivalent L1 chain has seen many well-known companies come onboard its metaverse—including game developer and publishing powerhouses: Netmarble and Neowiz. It recently ramped up efforts to lay the foundation for the metaverse and to expand use cases.

Learn more: https://klaytn.foundation/

The ESG Crypto Fund will invest in companies demonstrating social and governance accountability while managing energy cost

CrossTower, the global cryptocurrency trading platform, announced that it has reached an agreement to acquire BEQUANT, a leading prime brokerage and digital asset exchange, for an undisclosed amount. CrossTower also announced the launch of the first ESG Crypto Fund, in partnership with the Lydian Group, to invest in and rebuild companies that have promising futures.

BEQUANT, with its institutional trading and prime brokerage platform, will enable CrossTower to expand its suite of professional grade products for a global market, covering the US, Bermuda, Europe, Latin America, and Asia. Through this acquisition, CrossTower will add over 600 professional exchange clients, generating over $400 billion of yearly turnover with more than a dozen exchanges connected to its platform.

The ESG Crypto Fund will invest in companies focused on:

• Environment – The industry must become smarter at managing energy costs, given the reduced asset pricing and the overall cost of energy.
• Social – The industry image has been tarnished by a few players’ greed. We need to put the people and the democratization of finance back into the center of what makes crypto important.
• Governance – The biggest failure of the companies in trouble today has been the human failure. There needs to be proper governance – a proper board structure; related party checks and balances; and traditional business expertise. Crypto companies need to change to recreate value.

This transaction has been backed by the Lydian Group, founded by tech industry veterans Gerard Lopez, Co-Founder of Mangrove Capital and global tech investor, and Greg Fishman, tech entrepreneur and software architect in AI technology.

The Lydian Group leadership and board includes:

• Chris Davis – Chief Marketing Officer and Senior Vice President of New Balance
• Lars Fjeldsoe-Nielsen – Founder of 2xN and former General Partner of Balderton Capital
• Gavin Patterson – President and Chief Strategy Officer of Salesforce and former British Telecom CEO
• Mark Tluszcz – Co-Founder of Mangrove Capital Partners and Chairman of Wix.com
• Alex Zubillaga – Founder of 14W Capital, formerly an Executive at Warner Music Group, and Advisor to Spotify

Lydian Group sees a massive opportunity for a clean and necessary reset of the digital asset market. The last few months have shown the limitations brought to the market by the lack of experience of many founders in managing assets and customer funds; amateur governance models; a lack of reporting; a lack of transparency; and, in general, reckless behavior of stakeholders with large asset pools. This reset can only happen around management teams that are experienced in building traditional money management processes, while embracing new asset classes, innovative technologies, and a deep understanding of necessary regulations and processes.

The Lydian Group founders have established some of the largest players in this space from media to digital wallets and metaverse development companies. Lydian Group’s media arm is Cointelegraph, which boasts a 44% market share and over 130 million users globally. It is an absolute powerhouse when it comes to informing and educating the crypto and digital asset industry. Other companies controlled by the founders include Verse Estate, Seamm, Stevia, Coin360, and others.

Through this acquisition, CrossTower will now become a focal point for the industry reset and consolidation, using its newly launched ESG Crypto Fund.

Kapil Rathi – CEO of CrossTower said: “We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance. Rebuilding requires capital and a management team with regulatory and operational expertise. With the launch of our fund and the BEQUANT acquisition, we are positioning CrossTower to lead the growth of this industry, with proper regulatory oversight, integrity, and accountability.

George Zarya – Founder and CEO of BEQUANT said: “The market requires consolidation for the next stage of its maturity. Undoubtedly, the market will continue to grow and evolve with stronger regulation and with larger balance sheets, and it will earn back the trust of investors. We are uniquely positioned to bridge the gap with traditional finance and to modernize financial infrastructure. The combination of BEQUANT and CrossTower will allow us to have a truly global reach.”

Gerard Lopez – CEO of Lydian Group said: “We have watched how this industry, which has massive potential to change global finance, has been brought to a dangerous state by the lack of professionalism and transparency managing vast amounts of client assets. For the last 25 years, we have always backed invocation in technology with real-life experienced management. We have generated billions of dollars in return for our stakeholders, while building solid companies that perform over time. The choice of the people managing CrossTower, and the experience of our board members, are all necessary to the group succeeding in helping this industry back to its required strength and trustworthiness.”

Greg Fishman – CIO of Lydian Group said: “I focused my career on the evolution of structures on top of basic software layers. We have experienced several market cycles and we are in a current market meltdown. This is a critical moment and an exciting moment. Poor businesses are being cleaned up making the way for promising technology stacks, pure web3.0 and decentralized virtual worlds. By uniting CrossTower and BEQUANT, we create an organization that is built for safety, transparency, and trust. During the next market cycle, the whole industry must focus on building for the people.”

by Viktoriia Palchik

Revealed: April 02, 2024 at 7:31 am Up to date: April 02, 2024 at 7:35 am

by Anastasiia O

Edited and fact-checked:
April 02, 2024 at 7:31 am

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In Transient

This text navigates the complicated terrain of blockchain and cryptocurrency regulation. From exploring the tensions between decentralization and authorities oversight to dissecting key authorized battles just like the SEC’s lawsuit towards Ripple Labs, we study the evolving regulatory frameworks shaping the business. We additionally discover arguments for and towards heavy regulation, highlighting the significance of putting a steadiness between compliance and innovation. Be a part of us as we unravel the intricate dynamics of regulatory challenges on the planet of blockchain and cryptocurrency.

Blockchain know-how has turn out to be a disruptive drive which may fully change plenty of sectors. Though its decentralised and clear construction has many benefits, there are particular authorized and regulatory points to pay attention to, for instance, governments and regulatory companies are battling ledger-related issues together with digital currencies, sensible contracts, information privateness, and cybersecurity as they work to remain up with technological advances. On this article, Metaverse Publish needs to assist to grasp “Ought to cryptocurrency and blockchain be regulated by the federal government?”

Whether or not digital property be legally thought-about securities is likely one of the most necessary authorized questions within the digital forex area. The aim of blockchain safety legal guidelines is to safeguard traders by controlling the problem, commerce, and sale. Relying on the jurisdiction, tokens or cryptocurrencies that match the definition of securities could also be exempt from registration necessities or topic to registration necessities.

For instance, the U.S. Securities and Alternate Fee (SEC) sued Ripple Labs in 2021, claiming XRP, the corporate’s cryptocurrency, was an unregistered securities. The importance of blockchain compliance with securities rules was emphasised by this court docket motion, which additionally introduced consideration to the doable repercussions of disregarding regulatory obligations.

Alternatively, those that are towards regulating cryptocurrencies declare extreme regulation stunts creativity and erodes the decentralised precept which underpins decentralised ledger know-how. They contend imposing legislative limits on ledger know-how may hinder the creation of progressive functions and discourage funding within the quickly increasing sector. Moreover, proponents of decentralized finance (DeFi) argue the blockchain group ought to self-regulate, claiming decentralised governance techniques can efficiently deal with compliance points with out undermining the basic rules of decentralisation.

The argument over digital forex regulation emphasizes the need for a well-rounded technique taking decentralization and governmental management into consideration. With a purpose to create regulatory frameworks that scale back dangers with out impeding innovation, blockchain inventors, legislators, and authorized consultants should work collectively to strike this steadiness. Worldwide collaboration can also be needed to offer a uniform strategy to compliance and unify rules throughout jurisdictions.Companies and other people want to stay in control on blockchain authorized developments and regulatory modifications with the intention to keep compliance with altering regulatory requirements, particularly as governments proceed to battle with the regulatory issues offered by decentralisation and cryptocurrencies. In the long run, the long-term sustainability and profitability of the cryptocurrency ecosystem depend upon creating an environment that strikes a steadiness between compliance and creativity.

Viktoriia is a author on quite a lot of know-how subjects together with Web3.0, AI and cryptocurrencies. Her intensive expertise permits her to put in writing insightful articles for the broader viewers.

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