Connect with us

Crowdfunding

Australia based TAGZ, a Digital Asset Exchange which Claimed to be One of the Largest Crypto Trading Platforms, to Shut Down

Avatar

Published

on

Australia-based TAGZ, a crypto exchange that claimed to be one of the largest fully-regulated digital currency trading platforms, recently announced that it will be shutting down its operations on July 30, 2020.

TAGZ was reportedly a licensed AML/CTF compliant digital asset exchange.

As noted on the exchange’s official website:

“It is with great regret today that we hereby announce the TAGZ Exchange Platform will be ceasing operations as of July 30, 2020.”

(Note: more details on how to withdraw funds before the deadline are available here.)

TAGZ’s management said they were forced to close down because of the COVID-19 outbreak and resulting challenges. The company also claims there were “external factors out of its control” that led to a decline in revenue.

TAGZ further noted that it had to make “the tough call to decommission the exchange and legally award all users a 30 day notice.”

The management team also mentioned:

“We have tried to rework the current business model but unfortunately there is no situation where the exchange can remain profitable. Please know that the decision to shut down operations did not come lightly as we have tried many ways over the past 12 months to keep afloat but unfortunately all good things come to an end.”

It’s unclear how exactly TAGZ was struggling due to the pandemic because crypto and blockchain businesses are mostly digital. TAGZ had also repeatedly claimed to be one of the largest crypto exchanges in terms of trading volume. The exchange had even published a promotional press release which appeared to show that TAGZ had taken over the #1 spot as the world’s leading exchange.

In September 2019, Bryan Seiler, the founder and CEO at TAGZ, had claimed:

“The fact is that there are very few crypto exchanges that can be trusted, and traders love the fact that we’re an Australian company and fully licensed. The added bonus that we have such an easy to use platform together with zero trading fees allows the average retail investor to realize it’s a no brainer.“

In another interview in February 2020, Seiler had confidently stated:

“We have the ability to support any and all blockchains including forks. All new markets being added to the TAGZ platform first undergo a basic vetting procedure where our backend team carries out the essential groundwork to make sure any new potential project is qualified and meets our criteria for listing.”

The Coronavirus crisis did lead to the historic cryptocurrency market crash on March 12, 13 2020 during which the Bitcoin (BTC) price crashed by over 50%. The shock experienced by the fragile crypto market forced some companies including Adaptive Capital to shut down abruptly.

However, TAGZ claimed to be one of the largest digital asset exchanges. Other major crypto-asset trading platforms such as Binance, Huobi, and OKEx have been expanding their operations during these uncertain times.

Since they are mostly digital businesses, they may have not been severely impacted by the pandemic. It remains unclear why TAGZ had to shut down, but it’s likely that the exchange was not doing as well as it claimed.

Many crypto projects have been launched without proper planning and market research, which has led to most of them to shutting down.

Source: https://www.crowdfundinsider.com/2020/07/163622-australia-based-tagz-a-digital-asset-exchange-which-claimed-to-be-one-of-the-largest-crypto-trading-platforms-to-shut-down/

Crowdfunding

AvidXchange Announces New “Tech Rising” Initiative to Remove Barriers to Technology Education

Avatar

Published

on

AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Friday it has launched Tech Rising, an initiative spearheaded by the AvidXchange Foundation that aims to remove barriers to technology education and resources for youth and young adults.

According to AvidXchange, the initiative kick starts the AvidXchange Foundation’s strategic focus on bridging the digital divide in Charlotte, North Carolina by providing tools and opportunities to middle and high school students, including the STEAM and essential skills programming necessary to succeed in a digital world.

“Over the next three years, AvidXchange has committed to closing the technology gap in Charlotte by distributing refurbished laptops with internet access to 5,000 students, working with 16,000 students in Title I middle schools to provide STEAM curriculum and helping 8,000 students in Title I high schools develop critical career skills.”

Speaking about the initiative, Michael Praeger, CEO and Co-Founder of AvidXchange, stated that removing barriers to technology education and careers starts as part of a student’s education before submitting a resume or filling out a college application. He further explained:

“Through the AvidXchange Foundation, we are chipping away at the technology barriers to bridge the digital divide and help create economic mobility for youth and young adults in our community.”

Founded in 2015, the AvidXchange Foundation was created in response to helping elementary school students who were impacted by Hurricane Katrina. In 2019, the Foundation supported more than 150 philanthropic events.

Source: https://www.crowdfundinsider.com/2020/08/165288-avidxchange-announces-new-tech-rising-initiative-to-remove-barriers-to-technology-education/

Continue Reading

Crowdfunding

Mastercard Announces Global Commercial Partnership With Pollinate

Avatar

Published

on

Mastercard announced on Friday it has formed a global commercial partnership with merchant software platform, Pollinate. Through the collaboration, the duo will reportedly bring the latest technology and data insights to banks serving small and medium businesses around the world. In a statement, the companies shared:

“Both Mastercard and Pollinate recognise the importance of small and medium businesses (SMEs) to communities and economies around the world.  With SMEs accounting for 90% of businesses and 50% of employment worldwide, supporting them is even more crucial after Covid-19. Central to this support is the ability for SMEs to access the digital tools and payment solutions that will enable them to survive and thrive.”

While sharing details about the partnership, Zahir Khoja, Executive Vice President of Merchants Solutions and Partnerships at Mastercard, stated that the work with Pollinate, as well as the wider issuer and acquirer solutions ecosystem, supports Mastercard’s collective goal to offer digital payment solutions for small and medium-size businesses to deliver a seamless experience for their customers in a time of need. Alastair Lukies CBE, Founder & CEO of Pollinate, concluded:

“With SMEs being the cornerstone of the global economy and providing half the world’s jobs, supporting their growth and recovery has never been more important.  Both Pollinate and Mastercard are passionate about working with banks to bring SMEs best in class services. Mastercard has demonstrated a long commitment to SMEs, and we are honored to deepen our partnership.”

The partnership with Mastercard comes less than a year Pollinate launched its platform. As previously reported, Pollinate is led by a team of experienced executives from the payments, technology and loyalty sectors. Pollinate noted that its platform allows a bank to enter acquiring, or transform their existing business without changing their underlying infrastructure.  Banks can offer their merchants digital onboarding, and a portal that acts as a central hub of a merchant’s business. 

Source: https://www.crowdfundinsider.com/2020/08/165287-mastercard-announces-global-commercial-partnership-with-pollinate/

Continue Reading

AR/VR

VR Giants’ Co-op Kickstarter Achieves Funding Success

Avatar

Published

on

Solo developer Wolfgang Tschauko has been working on virtual reality (VR) project VR Giants for the past three years, launching a Kickstarter crowd-funding campaign in July to help complete it. The Kickstarter has now ended, successfully hitting its goal in the process.

VR Giants

Tschauko aimed to hit €10,000 EUR over the month-long campaign, managing to raise €14,730 with 520 backers supporting the project. That figure also meant VR Giants’ first stretch goal was achieved, adding a winter level with ice/snow-based puzzles.

The main reason for the Kickstarter was to help polish VR Giants by building a team to support the final stages of development. Crucially, that funding goal will be doubled by the Austrian government to aid that process, with the developer looking to improve the visuals and sound.

VR Giants is a cooperative gameplay experience where the VR player takes the role of a stone giant whilst a non-VR player via a monitor controls the diminuative David. The goal is simple, collect a series of coins dotted around each level to open the doorway forward.

VR Giants

The co-op dynamic means that each player has a very specific role to play. David for example has free roam to run around levels, jump gaps and collect the coins. The giant, on the other hand, is fixed to certain locations and can only move between them by David pressing a button. But the giant can’t die, able to grab objects to help its tiny mate navigate the perilous environments.

When previewing VR Giants VRFocus noted: “VR Giants presents a passion project that neatly blurs the lines between VR and non-VR gaming, and while there’s still a way to go it’ll be interesting to see how Tschauko further explores his idea.”

VR Giants supports PC VR headsets like Oculus Rift, Valve Index and HTC Vive with Tschauko estimating a Steam launch to take place in October 2021. As the project continues to develop, VRFocus will keep you updated.

Source: https://www.vrfocus.com/2020/08/vr-giants-co-op-kickstarter-achieves-funding-success/

Continue Reading
Cannabis1 hour ago

How to make a cannabis-infused lemony hemp shandy

Cannabis1 hour ago

What role could Kamala Harris play in cannabis legalization as vice president?

Blockchain3 hours ago

Warren Buffett Buying Gold May Push Bitcoin to $50K, Investors Say

Blockchain3 hours ago

Unraveling the Blockchain and Crypto Gaming World One Click at a Time

Blockchain6 hours ago

Samsung Phone Support for Gemini Exchange Can Further Crypto Adoption

Blockchain9 hours ago

Blockchain Tracing the Cannabidiol Supply Chains Will Help Define Legal Standards

Cannabis16 hours ago

Montana Cannabis Legalization Initiatives Qualify For November Ballot

Cannabis16 hours ago

Temescal Wellness Destroys All Quarantined Vape Cartridges

Cannabis16 hours ago

Drug Plastics & Glass Launches New Tools to Calculate Carbon Footprint

Cannabis16 hours ago

Higher Ground ‘Ballot Box’ Counters Stoner Stereotypes

Cannabis16 hours ago

University of Pittsburgh Partners with Parallel in Marijuana Research Program

Cannabis16 hours ago

SiliCycle Receives Cannabis Processing License from Health Canada

Cannabis17 hours ago

New Study Finds Breathing Techniques Can Improve Your Mental Health

Blockchain17 hours ago

Ethereum Price Hits 2-Year High as ETH Futures Open Interest Tops $1.5B

Cannabis18 hours ago

Study Shows Cannabis Legalization Doesn’t Impact Youth Cannabis Use

Biotechnology20 hours ago

NIH study shows multifocal contact lenses can slow down childhood nearsightedness

Cannabis20 hours ago

How To Stop Overthinking Everything

Cannabis22 hours ago

CBD And Blood Flow: What The Brain Wants You To Know

Cannabis23 hours ago

Did Marijuana Prohibition Cause The COVID-19 Pandemic?

AR/VR23 hours ago

Gnomes & Goblins to be Wevr’s Biggest Production, 10x Larger Than the Preview

AI23 hours ago

Is It Worth Investing in a Website Builder?

AR/VR23 hours ago

How to Create a Cloud-connect AR Experience in 15 Minutes or Less

Biotechnology23 hours ago

FDA clears RapidAI’s occlusion-spotting stroke software for CT scans

AR/VR24 hours ago

Mortal Blitz: Combat Arena’s PlayStation VR Open Beta Begins Next Week

Biotechnology1 day ago

Philips deploys hospital monitor kits to ramp-up ICU capacity against COVID-19

Biotechnology1 day ago

CureVac banks $213M IPO to push COVID-19 vaccine, boost manufacturing

Cannabis1 day ago

Cannabis Litigation Q&A Webinar – A Few More Questions and Answers

Crowdfunding1 day ago

AvidXchange Announces New “Tech Rising” Initiative to Remove Barriers to Technology Education

Blockchain1 day ago

Swipe Is the Latest Project to Integrate Chainlink’s Price Oracles

Blockchain1 day ago

Craig Wright Won’t Need to Pay Hodlnaut $60K Until Appeal Is Over, Says Counsel

Blockchain1 day ago

Bitcoin a Hedge Against Elon Musk Mining Asteroid Gold, Say Winklevoss Twins

Biotechnology1 day ago

Chutes & Ladders—WuXi taps veteran operations head Dong to lead new vaccines unit

AR/VR1 day ago

Solaris Offworld Combat has Been Delayed to September

Crowdfunding1 day ago

Mastercard Announces Global Commercial Partnership With Pollinate

AR/VR1 day ago

Oculus Social VR App ‘Venues’ to Get Overhaul in Preparation for ‘Facebook Horizon’

Blockchain1 day ago

Thailand’s Central Bank Eyes DeFi Use Cases for Its Digital Baht

Blockchain1 day ago

Bitcoin Proceeds of COVID-19 Business Support Scheme Fraud Seized

AR/VR1 day ago

VR Giants’ Co-op Kickstarter Achieves Funding Success

Payments1 day ago

Huntington Bancshares picks BillGo for faster payments

Payments1 day ago

Banco Ripley goes live on Temenos Transact

Trending