Latest News

HIVE Announces Investment in Titan, Leading Blockchain Software Company

Published

2 years ago

December 1, 2021

Reading Time: 5 minutes

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.

Vancouver, British Columbia–(Newsfile Corp. – December 1, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the “Company” or “HIVE”) is pleased to announce its investment in Titan.IO, Inc. (“Titan”), a cutting-edge blockchain software company and the creator of Lumerin, a next generation decentralized mining marketplace where hashpower can be bought and sold using tokens.

Today Titan offers software which helps Bitcoin miners increase their efficiency and scalability at a flat, low cost. It also operates the Titan Mining Pool, which recently surpassed 3 Exahash of Bitcoin mining capacity.

Titan has also announced a disruptive decentralized hashpower routing protocol named Lumerin. The open source Lumerin Protocol is a peer-to-peer solution that enables the exchange of hashpower through smart contracts, making crypto mining hashpower tradable and liquid.

The Lumerin Protocol will allow companies and individuals to buy, sell, and deliver hashpower, achieving decentralization through free market dynamics. Furthermore, the Lumerin Protocol will make Bitcoin hashpower a tradable, liquid financial asset, unlocking mining profitability and providing greater access to capital and hedging strategies.

The investment in Titan has been structured as a share exchange where HIVE will issue to Titan securities consisting of shares and warrants having a value of USD $5 million at CAD $6/share, the same terms as the recently-announced private placement. Titan will issue to HIVE common shares in an amount representing 10% of the outstanding equity of Titan. The transaction is pending TSX Venture Exchange approval.

Other investors in Titan include Coinbase Ventures and Fenbushi Capital.

HIVE’s investment in Titan will mark the Company’s fourth equity investment of the year. Previous investments include DeFi T echnologies, Network Media Group, and a seed investment in Tokens.com.

HIVE Executive Chairman Frank Holmes strongly endorses the Titan team, stating: “We’re backing an extremely strong technological team at Titan, led by expert 15-year veteran software coder CEO Ryan Condron. We were also impressed by Matthew Roszak, co-founder and chairman of Bloq, a leading enterprise software blockchain company. And co-founder Jeff Garzik was an early Bitcoin core developer. HIVE wants to participate in growth in the blockchain ecosystem such as mining software, transparent pools and innovative new tokens, and this is another strategic way to do that. We look forward to working with Titan to capture new opportunities as Bitcoin mining power shifts from China to North America.”

Ryan Condron, Titan’s CEO and Co-Founder, echoed Frank’s sentiment. “We’re very excited to be partnering with HIVE. We founded Titan in order to maximize the optimization and decentralization of mining at any scale. In that journey, we have greatly appreciated HIVE’s expertise and leadership in the mining space. We look forward to working with them to maximize mining efficiency and transform hashpower into a global tradeable commodity using the Lumerin Protocol.”

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a 100% green energy focus and an ESG strategy.

HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HOLD both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.

We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.

For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Blockchain Technologies Ltd.
“Frank Holmes”
Executive Chairman

For further information please contact:
Frank Holmes
Tel: (604) 664-1078

About Titan

Titan provides powerful software and services for crypto mining at scale and now offers the first enterprise-grade mining pool. The Lumerin Protocol is a peer-to-peer solution that makes Bitcoin hashpower a tradable, liquid financial asset, unlocking mining profitability and providing greater access to capital. Titan was founded in September 2018 by Ryan Condron, Jeff Garzik, and Matthew Roszak. For more information, please visit Titan.io and Lumerin.io and follow us on Twitter at @Titan_Mining.

For further information please contact:
Lewis Farrell
[email protected]
(650) 485-9912

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the outcomes of the strategic investment in Titan.io; potential for the Company’s long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, if the strategic investment with Titan.io is not as successful as the Company hopes that it will be; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company dated and other documents disclosed under the Company’s filings at www.sedar.com.

This news release also contains “financial outlook” in the form of gross mining margins, which is intended to provide additional information only and may not be an appropriate or accurate prediction of future performance and should not be used as such. The gross mining margins disclosed in this news release are based on the assumptions disclosed in this news release and the Company’s Management Discussion and Analysis for the fiscal year ended March 31, 2021, which assumptions are based upon management’s best estimates but are inherently speculative and there is no guarantee that such assumptions and estimates will prove to be correct.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to realize operational efficiencies going forward into profitability; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106062

Latest News

UK and Singapore renew commitment to FinTech cooperation

Published

2 hours ago

May 10, 2024

Peter Tolan

The UK and Singapore have restated their commitment to working together on sustainable finance and advancing FinTech innovation.

Discussions between the two nations centered on progressing sustainable finance initiatives, with a particular focus on increasing financing to support the net zero agenda.

In sustainable finance, notable progress was made in transition planning. Both the UK and Singapore stressed the importance of having globally comparable and robust transition plans to facilitate the scaling of transition finance. Updates were provided on various initiatives, including the Transition Plan Taskforce’s disclosure framework and the Monetary Authority of Singapore’s (MAS) consultation on Transition Planning Guidelines. Both countries acknowledged the ongoing international efforts, such as those within the G20 and Financial Stability Board (FSB), to address climate-related financial risks.

Moreover, the dialogue highlighted the significance of disclosure standards, ESG ratings, and data products in sustainable finance. The UK and Singapore reaffirmed their commitment to implementing the International Sustainability Standards Board’s (ISSB) standards to improve the consistency and comparability of sustainability-related disclosures globally. Discussions also touched upon voluntary codes of conduct for ESG ratings and data product providers aligned with IOSCO’s recommendations.

In the domain of sustainable infrastructure and investment, both nations recognized the funding gap for green and transition finance in Asia. Collaborative efforts were outlined to mobilize private capital for the net zero transition, building upon previous strategic partnerships. Updates on initiatives like Singapore’s Financing Asia’s Transition Partnership (FAST-P) were shared, aimed at facilitating green finance and energy transition projects in the region.

Transitioning to FinTech and innovation, the dialogue covered various aspects, including artificial intelligence (AI), cryptoassets, central bank digital currency (CBDC), and tokenization. Discussions highlighted both the risks and opportunities associated with the increased use of AI and the regulatory frameworks for cryptoassets and stablecoins. Updates on the UK’s progress in developing a regulatory regime for cryptoassets and exploring CBDC were provided, along with discussions on tokenization and distributed ledger technology (DLT).

Additionally, developments in the non-bank financial intermediation (NBFI) sector and cross-border payment connectivity were examined. Both countries emphasized the importance of enhancing authorities’ ability to monitor risks in NBFIs and finalizing international policy work on margining practices and NBFI leverage. The commitment to the G20’s Roadmap to Enhancing Cross-Border Payments was reiterated, along with updates on projects like Project Nexus, aimed at improving cross-border payment systems.

“Having globally comparable and sound transition plans is crucial for scaling transition finance. The UK and Singapore are dedicated to addressing climate-related financial risks through collaborative efforts,” said John Smith, Head of Climate Finance at UK Treasury.

Source: fintech.global

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Latest News

FinVolution to Hold 9th Global Data Science Competition, Focus on Deepfake Speech Detection in LLM era

Published

3 hours ago

May 10, 2024

CISION (PR Newswire)

The 9th FinVolution Global Data Science Competition targets deepfake speech detection, tackling the challenge of distinguishing between cloned and authentic voices in the LLM era.
The contest is part of the IJCAI 2024 Competitions and Challenges track, encouraging global collaboration and innovation among AI enthusiasts.
By integrating LLM-generated fake voices in the test dataset, the competition increases complexity and spurs innovation.

SHANGHAI, May 10, 2024 /PRNewswire/ — FinVolution, a leading fintech service provider, launches the 9^thFinVolution Global Data Science Competition today, with a focus on “Deepfake Speech Detection.” The contest is part of the IJCAI (International Joint Conference on Artificial Intelligence) Competitions and Challenges track, a top international AI conference.

As voice synthesis technology continues to evolve, the line between cloned and genuine voices has become increasingly blurred in the era of large language models (LLMs), posing significant challenges to data security and asset protection.

The competition aims to inspire global AI enthusiasts and experts to innovate in combating voice cloning and deepfake scams. Contestants will utilize deep learning technologies to develop models and algorithms based on FinVolution’s test dataset. The competition will include LLM-generated fake voices to elevate complexity and spur innovation.

With a total prize pool of RMB 310,000, the contest will consist of preliminaries, semifinals, and a final, with an aim to authenticate true and false voices. Highest-ranked contestants will attend IJCAI 2024 in Jeju of South Korea, to receive the awards and engage with academic and industry experts. FinVolution proudly sponsors IJCAI 2024.

Tiezheng Li, CEO of FinVolution, stated, “Since its inception nine years ago, the FinVolution Global Data Science Competition has evolved into a widely recognized event in the field of data technology, facilitating technical exchange worldwide. Partnering with IJCAI this year, a top-tier international AI conference, demonstrates our commitment to advancing deep speech recognition technology.”

The Deepfake Challenge

During the preliminaries (May 10 to June 12), participants will design algorithms based on the white-box dataset supplied by FinVolution and submit scoring results to qualify for the semifinals. The dataset primarily comprises voice recordings totaling 20-40 hours.

At the semifinal stage (June 13 to June 28), contenders are expected to refine their algorithms based on the black-box dataset provided by the competition organizer, vying for a spot in the final. The dataset, composed mainly of private data, contains five to 10 hours of recordings.

Participants can register on the official website from May 9 to June 3, to download and view the datasets.

Upholding AI Ethics

Voice cloning has emerged as a major form of telecom fraud, as scammers exploit AI technology to make distinction between genuine and fake voices increasingly tricky.

The competition focuses on safeguarding user privacy and combating fraudulent activities by identifying cloned voices accurately.

Lei Chen, Vice President of FinVolution and Head of its Big Data and AI Division, said, “The applications of Large Language Models far exceed the corresponding detection technology, posing great challenges to information security. We hope to see AI deepfake voice detection technology keep pace with the developments of LLMs, thus safeguarding the data security of the public. With this concept in mind, the FinVolution Global Data Science Competition is not only a platform for technical competition but also an opportunity to explore how AI can better adhere to ethical principles and serve the public.”

To date, the FinVolution Global Data Science Competition has drawn nearly 10,000 participants globally in total, becoming a widely recognized event in the field of digital financial technology.

Organized annually since 2016, the contest themes have spanned diverse domains, all rooted in real-world fintech business scenarios. These themes range from risk control algorithms, financial data applications, and product development to semantic similarity recognition, asset portfolio cash flow prediction, and credit schemes for small- and micro-sized enterprises.

About FinVolution Group

FinVolution Group is a leading fintech company that connects millions of consumers as well as micro- and small-sized enterprises with financial institutions.

Founded in 2007 and listed on the New York Stock Exchange in 2017, we have been at the forefront of the pan-Asian credit technology industry, pioneering innovative technologies in credit risk assessment, fraud detection, big data, and artificial intelligence. With a proven track record of robust growth in pan-Asian countries, we have established leading fintech platforms in China, Indonesia, and the Philippines.

Photo – https://mma.prnewswire.com/media/2408594/image_1.jpg

View original content:https://www.prnewswire.co.uk/news-releases/finvolution-to-hold-9th-global-data-science-competition-focus-on-deepfake-speech-detection-in-llm-era-302141074.html

Latest News

New Peoples Bank taps Jack Henry for core processing

Published

5 hours ago

May 10, 2024

Peter Tolan

New Peoples Bank, a community bank headquartered in Virginia, USA, has chosen Jack Henry’s core processing solution to propel “growth and innovation.”

In addition to implementing Jack Henry’s core processing solution, the bank will integrate its partner’s Banno digital banking platform. This move is part of New Peoples Bank’s initiative to streamline operations and enhance its current offerings.

By entrusting these functions to Jack Henry’s single-platform approach, the bank expects to empower its staff to concentrate more on “building and nurturing client relationships.”

JW Kiser, President and CEO of New Peoples Bank, believes that this transition will result in significant efficiencies, fundamentally transforming the bank’s operational model and customer service standards.

Kiser emphasizes that New Peoples Bank selected Jack Henry for its deep understanding of community banking. He sees this strategic move as a “major step” in the bank’s technology strategy, positioning it to scale and better meet the needs of the communities it serves.

Established in 1998, New Peoples Bank boasts assets totaling $800 million and operates across 17 branches in North Carolina, Virginia, Tennessee, and West Virginia.

With this latest partnership, New Peoples Bank joins a growing cohort of US financial institutions collaborating with Jack Henry. This includes notable names such as Alabama’s United Bank, Arizona-based Copper State Credit Union, and most recently, Wisconsin’s First State Bank.

Source: fintechfutures.com

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