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Alex Tapscott and NextBlock Global Limited to pay $1M for misleading investors

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A Panel of the Ontario Securities Commission (OSC) has approved a settlement agreement with Alex Tapscott and NextBlock Global Limited (NextBlock) in connection with misleading statements they made in offering memoranda provided to prospective investors in 2017.

As a part of the settlement, NextBlock has agreed to pay an administrative penalty of CAD $700,000 plus $100,000toward the costs of OSC Staff’s investigation. Additionally, Tapscott will pay an administrative penalty of $300,000.

The settlement also reflects that Tapscott has voluntarily declined approximately $3M in carried interest that he was entitled to based on NextBlock’s profits.

In settling this matter, Tapscott and NextBlock (the respondents) admit they made misleading statements in slide decks provided to more than 100 prospective investors in a private placement that raised approximately $20 million from 113 accredited investors over a two-month period in June and July 2017. The slide decks were the only materials provided to investors, and positioned prominent blockchain figures as NextBlock’s advisors when, in fact, these individuals had not agreed to act as its advisors and had not consented to being included in the slide decks. Of note, one individual had never been approached by Tapscott to act for NextBlock in any capacity.

“We will not tolerate market participants who play fast and loose with the facts when providing offering memoranda to prospective investors, including marketing decks,” said Jeff Kehoe, Director of Enforcement at the OSC. “This dishonest behaviour robs investors of the opportunity to make informed investment decisions and undermines confidence in our markets.”

Tapscott has also agreed to perform community service by delivering ethics presentations to students at Canadian business schools, which will highlight the importance of complying with Ontario securities law. Additionally, Tapscott offered to publish an open letter about the impact and consequences of his misconduct in a national news publication. OSC Staff accepted this offer, and included it as a term of the settlement. Together with a significant monetary sanction, these terms serve to deter other market participants from engaging in similar misconduct.

“This settlement reinforces an important message: We will take action to address misleading disclosure and the serious harm it causes to Ontario investors and our markets, even if investors suffer no financial losses,” added Mr. Kehoe.

The OSC appreciates the assistance of the U.S. Securities and Exchange Commission in the investigation of this matter.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk.  Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.

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SOURCE Ontario Securities Commission

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YAO Network: The Blockchain Paradise Developers Have Been Waiting For

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Permissioned blockchain? Private blockchain? Public blockchain? Fret not for YAO Network accepts them all. YAO Network is a cloud service paradise for new blockchain projects looking for a community to nestle in and make their homes there. By integrating cloud computation with decentralized computation, the YAO Network is able to support computation eco-platforms of multiple blockchain networks, maximizing the utility of all participants while helping projects to achieve their technological targets and generate value.

The YAO Network was built for a vision: to benefit developers and to help enterprises achieve much more, freeing the successes of blockchain technologies for all to enjoy. This vision grounds the design of YAO Network’s architecture as the platform seeks to establish a comprehensive service and utility computation platform where Pareto optimality is achieved amongst developers, enterprises, and overall public utility.

Like many other blockchain platforms out there, technology remains a key factor in determining a platform’s functionality. The YAO Network certainly has a strong pillar of support in its robust technical infrastructure to achieve its goals.

1. YAO Network integrates multiple computation paradigms in utility computation.

The YAO Network platform effectively combines three computational paradigms, cloud computing, decentralized computing and encrypted computing, to meet the demands of different applications and create maximum computation utility.

Cloud computation has been gaining massive popularity as a computational model in many enterprises and the public. The advantages of cloud computation are numerous. It saves cost for enterprises, developers and the public while offering flexible workload deployments, which enhances the overall utility of both individuals and society.

Recognizing the advantages of cloud computation, the YAO Network platform makes cloud computing the only carrier of all service and computation units in the blockchain. Cloud computing is not only utilized for deployments and encrypted computation of centralized applications, but also widely applied in decentralized blockchain networks.

2. YAO Network standardizes decentralized and centralized computation units based on cloud computation.

Different computation units have been designed for various types of applications to promote the usage of blockchains in the public domain. YaoLet is the solution designed by the YAO Network for decentralized applications, while BuildPack is its equivalent for centralized applications designed based on PaaS. The entire architecture is rested on these two solutions alongside other services. As YaoLet and BuildPack are both multiplexed; developers and service providers can participate in the sharing of YaoLet and BuildPack and reap the rewards through corresponding YAO Network reward system.

3. YAO Network allows softwares to define blockchain through topological orchestration and virtualization.

Most computations are no longer an isolated and individual computation unit; they have complex interconnections that are unified by a topological structure. This combination of computational units is achieved through topological orchestration.

On one hand, new services and components can be combined and orchestrated by existing computation units. On the other hand, various infranets in blockchains can also be orchestrated to establish corresponding nodes and services. Most blockchain architectures like YAO Network take on a modularized approach where interledger general blockchain protocols are made viable through plugging and unplugging every component and service as well as modularizing operations. The blockchain network becomes the virtual superposition of peer-to-peer networks, making it possible to define new blockchain network models and service models through virtual and abstract orchestrations.

4. YAO Network supports multiple blockchain network architectures and paradigms including public blockchains, permissioned blockchains and private blockchains.

The blockchain network within YAO Network supports three types of blockchains, namely public blockchain, permissioned blockchain and private blockchain. They can be broken down into shared and exclusive nodes based on the extent of its isolation. Enterprises and developers can build on shared blockchains or create their own exclusive blockchains on the YAO Network platform. Another alternative would be to classify the blockchain network based on its testnet and mainnet, and their applications.

5. YAO Network maximizes utility of developers, enterprises and the general public.

YAO Network is a one-stop blockchain service platform for blockchain service consumers, developers and enterprises to share innovations both in public and private. One of the biggest hurdles blockchain has yet to overcome is its low adoption rate and thus the YAO Network has provided blockchain PaaS services for developers to utilise and a platform where they can release their blockchain products directly to blockchain service providers. This forms a healthy supply and demand ecosystem as iterations of blockchain products are incubated or eliminated based on practicality and impact. Those that are proven viable will unite and form a larger blockchain ecosystem and platform.

Developers even earn the chance to make some profits through the YAO Network. The network rewards developers when their creations are utilised by others. In addition, the YAO Network has three specific function modules in terms of product modality: blockchain marketplace, enterprise aggregation and solutions, and developer community. This forms a trinity that works together to serve both developers and enterprises. Driven by supply, YAO Network solves the scarcity of blockchain comprehensive services by connecting and bridging between developers and enterprises, in order to establish a healthy and organic ecosystem where all participants have maximum utility within the system.

6. YAO Network has high inclusivity in the system.

A well-designed architecture should have open interfaces. Every layer delivers its own functions, and is connected to each other through the same cross layer interface. The YAO Network system is designed based on important principles including openness, security, technology neutrality, verifiability in the future, interoperability, scalability, modularization, manageability and dependability, to achieve inclusivity in the system.

YAO Network embraces existing and future blockchain applications and is committed to establishing a comprehensive computation platform with multiple blockchains, multiple computational paradigms and integrated utilities.

 

SOURCE YAO Network

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New Research Reveals SafelyYou’s AI-Enabled Fall Detection Reduces Need for Emergency Service Care in Dementia Care Facilities

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Real-time fall detection using SafelyYou’s artificial intelligence-enabled video recording reduced the need for emergency services by a staggering 80% in dementia care facilities, according to research results published in the American Journal of Managed Care. The study closely examined the impact of SafelyYou’s memory care-focused technology to detect falls, videotape falls and notify care staff so that video review of the incident could occur immediately after each fall.

“According to the Alzheimer’s Association Report (2016), fall injury is the leading cause of Alzheimer dementia–related hospitalizations, with $5.3 billion in annual cost to Medicare,” said Glen Xiong, Advisory Board Member for SafelyYou. “In residential care facilities, individuals with dementia fall, on average, four times per year and twice as often as other residents. Falls often go unwitnessed. Due to uncertainty regarding the seriousness of each fall, facility staff frequently activate local emergency medical teams to examine the residents, and such visits often result in emergency department visits.”

The study, supported in part by a National Institutes of Health, National Institute of Aging Small Business Innovation Research Grant, was conducted with enrolled participants on June 1 to Aug. 31, 2018. Fall incidents and outcomes were routinely recorded for facility residents, and facility staff reviewed the falls in real time, immediately after each incident, for study participants.

Among 147 falls in the control group, 52 (35.4%) resulted in EMT visits and 36 (24.5%) resulted in ED visits. In contrast, the intervention group had 83 falls, with 13 (15.7%) and seven (8.3%) resulting in EMT and ED visits, respectively. There were relative reductions of 75% in EMT visits and 80% in ED visits.

The AI-enabled camera fall detection system coupled with staff review of fall videos led to more accurate identification of serious falls and incidents compared with less serious falls, such as when a resident intentionally moved to the ground but did not fall.

“Using emergency services less frequently leads to lowered healthcare costs and stress for everyone,” said George Netscher, CEO of SafelyYou. “Speaking with families and hearing the testimonials is really the very best part of our day.”

For more information on the pilot study results, visit: American Journal of Managed Care. To learn more about reducing falls and ED visits for residents in memory care, contact info@safely-you.com.

 

SOURCE SafelyYou

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Metadata.io Emerges as MarTech Force with Rapid Company Growth and Leader Position in G2 Crowd Summer 2019 Momentum Grid® Report for Account-based Execution

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Metadata.io (https://www.metadata.io/), the AI-powered account-based advertising platform for predictable B2B lead generation, today announced it is fast rising as a leader in the MarTech industry based on customer satisfaction. As a second-place Leader in G2 Crowd’s Summer 2019 Momentum Grid® Report for Account-based Execution, Metadata helps CMOs deliver a qualified pipeline to sales organizations by generating a predictable flow of inbound MQLS from within their target accounts.

Metadata customers like Nutanix, Nexmo and others have repeatedly won awards for best performing campaigns on LinkedIn and Facebook. They are among a growing list of early adopters that are achieving the industry’s top benchmarks in customer acquisition and ROAs using Metadata.

See the full Summer 2019 Momentum Grid Report here: http://bit.ly/2xGyaA5

“Our ranking is 100 percent attributed to our sophisticated customer base who bravely adopted early AI technology and achieved great ROI multiplier through automation and experimentation,” said Gil Allouche, CEO of Metadata. “Together, we are transforming marketing operations with AI. With Metadata, B2B marketers gain unprecedented ROI from digital investment, in a more predicted, measured fashion.”

“Our investment with Metadata empowered us to automatically target and convert sales-qualified leads that not only impacted revenue, but completely automated and simplified the execution of our account-based campaigns,” said Rob Bethell, Marketing Manager at RStudio.

For the quarterly Grid Momentum Report, G2 Crowd rates products based on reviews gathered from the user community, as well as data aggregated from online sources and social networks. The Momentum Grid for Account-based Execution is based on scores calculated using the G2 Satisfaction algorithm and G2 Momentum algorithm from reviews collected through May 29, 2019. In the Summer 2019 momentum report, Metadata showed strong growth in reviews, social and web.

 

SOURCE Metadata.io

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