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Most of corporate America is silent about blockchain, but there is evidence from companies' SEC-required 10-K reports that shows some companies’ attitudes. How seriously are American corporations committed to blockchain technologies? Are blockchain technologies materially significant yet? One place to find the answers to these questions is Form 10-K, a report the United States Securities and Exchange Commission (SEC) requires corporations to file annually. Some of the information a company is required to disclose in the 10-K includes details on the nature of its business, risk factors, financial data, organizational structure, subsidiaries, and management’s discussion and analysis about the financial and operational results. Because it is regulated by the SEC, audited by an independent auditor and scrutinized by market participants — such as analysts and institutional investors — the 10-K is considered a credible report and source of information on the operations and financial pe..
Pro-crypto retail giant Overstock has released its Q2 2019 financial results, revealing a 23% decrease in revenue and a 19% loss in gross profit. Retail giant Overstock has released its Q2 2019 financial results, revealing a 23% decrease in revenue and a 19% loss in gross profit. In a shareholder announcement published on Aug. 8, Overstock stated that its blockchain subsidiary firm, tZERO, is progressing as planned, with a focus on six key areas — notably security tokens. No pain no gainWhile the fresh results point to a decrease by most metrics, Overstock has returned to a positive adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the first time since Q2 2017. Moreover, gross margin has seen a 79 basis point increase over the preceding quarter, with sales and marketing expenses down 63% over the same time frame. The results reveal that tZero posted an almost $10 million pre-tax loss and also impacted its parent firm’s general and administrative (G&A..
A Maltese government official announced that the nation’s business registry will employ blockchain technology. Junior Minister for Financial Services, Digital Economy and Innovation in the Government of Malta Silvio Schembri announced that the nation’s business registry (MBR) will employ blockchain, local financial service firm Zeta reports on July 31. First blockchain-based government agency?Per the report, when making his remarks at the Prime Minister Dr. Joseph Muscat’s inauguration of the new premises of the MBR on June 28, Schembri also claimed that the initiative will create the first government agency to be run on a blockchain-based system and artificial intelligence. The news has been seemingly confirmed by the official account of the Italian-Maltese Chamber of Commerce, which has published a link to the article. Less bureaucracy, more transparencyAccording to a report by local news outlet Malta Independent, Schembri further explained that the goal is to increase the system’s..
Singapore’s proposal to exempt crypto from a goods and services tax would benefit crypto-related businesses, says PwC corporate tax expert. Singapore’s plans to exempt certain digital currencies from the Goods and Services Tax (GST) would benefit cryptocurrency-related businesses, according to a partner in PwC Hong Kong’s corporate tax practice. As reported by Hong Kong’s English language newspaper South China Morning Post on July 29, Gwenda Ho argued that the Singapore government’s proposal to drop the seven per cent GST for cryptocurrencies when using them to pay for goods and services would have a positive impact on crypto exchanges, asset managers and blockchain entrepreneurs. Per Ho, the adoption of the proposed law would also put Singapore’s sales tax regime on an equal footing with those of other jurisdictions such as Hong Kong, Australia, Japan, Switzerland, and the European Union. Ho stated that, as long as the token has the features of a digital payment token as defined by t..
Ethereum is becoming the go-to blockchain protocol for enterprise business solutions based on several reasons, such as adoption, scalability and support. Ethereum currently is known as the most popular public blockchain network for the development of decentralized applications (DApps) and smart contracts. Its prospective blockchain protocol is one of the few cryptocurrency projects actually achieving real-world adoption, with dozens of applications that can be divided into 11 major categories: open finance, decentralized exchanges, gaming, collectibles, marketplaces, developer tools, identity, governance, infrastructure, token-curated registries and Ethereum Request for Comments (ERC) token standards. Thus, it appears to be leading the field of enterprise blockchain solutions. Ethereum is contributing to the revolutionizing of the internet with the creation of the Decentralized Web — or Web3 — that facilitates peer-to-peer (P2P) transactions (i.e., without a middleman). It means that..
Ripple News Today – Ripple is a real-time gross settlement system that deals with currency exchange and remittance network. Ripple has bagged the 13th spot in the San Francisco Business Times (SFBT) Philanthropy Awards. The platform, which has gone out of its way to reach out to the public in the past months has gotten the recognition they deserve. Ripple News Today – There’s a Huge Opportunity to Give Back – Eric Van Miltenburg, Ripple’s Head of Global Operations In a tweet from their official twitter handle @Ripple – “Ripple is #13 on the #SFBTphilanthropy list! “We have an obligation and an opportunity to show that we can take some of our success and funnel it in a way that is positive.” Ripple’s head of global operations, Eric van Miltenburg said in his tweet on twitter, “Proud of Ripple for earning recognition in the Bay Area for our social impact initiatives. Though it’s still early days, there’s a huge opportunity to give back”. The contribution of $25 million to the San Fran..
The Canadian Securities Administrators included strategies for DLT and blockchain-based securities regulations in their Business Plan 2019–2022. The Canadian Securities Administrators (CSA) are focusing on understanding and regulating distributed ledger technology (DLT) and its related components. The Canadian securities regulatory agency included a section on DLT and crypto assets in its Business Plan 2019–2022 that was published on July 13. The CSA’s business plan for 2018–2022 was approved on May 28, and represents a collaborative effort by the CSA to define its priorities over the next several years. Among a range of priorities such as fair and efficient markets, regulatory advancement and reduction of risks, the CSA also pointed out the need to consider the implications of DLT, including blockchain technology. The CSA reasoned its interest in DLT with its purported potential to transform the landscape of the financial industry. The CSA thus will explore possible changes to adap..
Basic Attention Token News Today – Basic Attention Token has grown exponentially this year alone. The native token of the decentralised brave browser was able to maintain the bullish pressure even when many other cryptocurrencies were trading in the red this year. A few months ago, per our Basic Attention Token News, the cryptocurrency was recording double digit gains smashing new resistance at any given opportunity. It move from below $0.20 to above $0.40 where it has found support against the USD. However, the BAT token has been having difficulty rising lately along with the rest of the altcoin market. Instead of record exceptional gain, it was underperforming the market until recently. Now that the bulls have decided to show up, how high will the Basic Attention Token price go? Basic Attention Token News – Basic Attention Token Latest Update – How High Will Basic Attention Token Surge? The altcoin market has been bullish for a while now even if the price of BAT wasn’t performing as..
The race to become the preferred platform for deploying smart contracts is a very competitive one but that’s not going to put of the likes of Zilliqa. The latest Zilliqa news is that blockchain which the developers prefer to call the “next-generation” cryptocurrency has reached a notable milestone which gives it a strong footing in the smart-contract platform space. In Zilliqa news today and broader cryptocurrency news Smartereum looks at the latest development around Zilliqa and what it means for cryptocurrency enthusiast. Zilliqa Launch Smart Contracts on the Zilliqa Mainnet using Scilla Programming Language – Zilliqa News Today Sources from within the Zilliqa blockchain project has confirmed that the platform has launched the ability to deploy smart contracts on the network using its highly regarded smart contract language, Scilla. According to cryptocurrency news outlet Coindesk, the president and chief scientific officer Amrit Kumar announced that the launch of the smart contrac..
Products such as Facebook’s GlobalCoin will bring consumers and regulators alike in line, says Sonny Singh. A senior executive at cryptocurrency payments processor BitPay told Bloomberg on May 29 that bitcoin (BTC) will only expand higher from its current price. Speaking in an interview with Bloomberg TV, the company’s chief commercial officer, Sonny Singh, said it was business interest and endorsement of cryptocurrency that was fuelling the current market-wide bull run. “You’re starting to see that these currencies have real use cases around the world, and it’s making people really excited now because they can see the light at the end of the tunnel for these use cases,” he told the network. Singh was referring to upcoming crypto-based projects from corporations including Facebook and Fidelity Investments, as well as extant moves such as JPMorgan’s JPM Coin and telecoms provider AT&T now accepting bitcoin for payments using BitPay. As more plans become reality, bitcoin can only stand ..