tZERO CEO Saum Noursalehi stated, “Through our partnership with ETS, we are excited to connect with sophisticated, private companies that want to modernize their securities through tokenization and provide investors access and liquidity optionality.”
NEW YORK (PRWEB) April 28, 2021
Engineered Tax Services Partners with tZERO to Provide Clients Secondary Trading Opportunities
Engineered Tax Services is One of the Largest Tax Advisory Firms in the U.S. with a Network of 3,000+ CPA Firms & Diversified Client Base
Engineered Tax Services, Inc. (ETS), the country’s largest licensed tax credits and incentives advisory firm, announced today that it has signed an agreement with tZERO, a leader in blockchain innovation and liquidity for digital assets. ETS is licensed engineering firm with over 150 employees; it provides specialty tax services to CPA firms and their clients, focusing on federal, state, and local tax credits and incentives. It caters to a diversified client base, which largely consists of several thousand private CPA firms and their related clients in the businesses of real estate, manufacturing, and energy. As advocates for America’s small and mid-sized businesses, ETS helps CPA firms add value to their client relationships by offering sophisticated strategies like cost segregation, the research and development tax credit, and other specialized tax credits and incentives, allowing them to retain more working capital and drive profitability.
This partnership will introduce tZERO to ETS clients seeking technology services to digitize their capitalization tables (i.e., tokenization). tZERO’s tokenization standard is interoperable with the tZERO ATS trading ecosystem, giving issuers optionality to a secondary liquidity solution.
“ETS was founded to bring specialty tax advisory services to mainstream America,” ETS CEO Julio Gonzalez said. “We are always looking for advanced and innovative solutions to educate our vast network of CPA firms and support their clients, and we look forward to bringing tZERO’s secondary liquidity solution to our clients.”
tZERO CEO Saum Noursalehi stated, “Through our partnership with ETS, we are excited to connect with sophisticated, private companies that want to modernize their securities through tokenization and provide investors access and liquidity optionality. This will continue to increase tZERO’s visibility and product offering, which continues to be our top priority.”
About Engineered Tax Services
Engineered Tax Services, Inc. (ETS) is the only licensed engineering firm providing specialty tax services to CPA firms and their clients. As advocates for America’s small and mid-sized businesses, ETS helps CPA firms add value to their client relationships by offering sophisticated strategies like cost segregation, the research and development tax credit, and other specialized tax credits and incentives, allowing them to retain more working capital and drive profitability.
tZERO Group, Inc. and its broker-dealer subsidiaries (tZERO) provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at https://brokercheck.finra.org/. Digital securities that trade on tZERO ATS are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term “digital” refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which is derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.
Daniel Plant, +1-800-236-6519
Alexandra Sotiropoulos, +1-347-293-1416
Michael Mougias, +1-347-293-1248
How Tech is Driving Sustainability in the Seafood Industry
As our appetite for seafood increases, marine ecological degradation follows. In recent decades, the demand for marine food sources rose. Fisheries attempt to meet societal needs by overfishing, harming the natural ecology.
Eco-friendly engineers came to the rescue, developing various sustainable fishing devices. They decrease the environmental interference of seafood extraction and help fisheries thrive. As more individuals adopt these practices, we will restore the aquatic ecosystem.
Aquaculture is a fishing methodsociety used since 500 BC, which recently came back into the light. Fish farming sustains society’s nutrition demands while reducing the harms of overfishing. Major consumption species include salmon, tilapia and catfish, which humans can generate through aquaculture.
Many fish farmers usehydroponics to improve the sustainability of their production. In condensed fish populations, waste can contaminate the water and affect native species. Fishers grow aquatic vegetation in the region to filter toxic elements and preserve the environment’s natural composition.
Hydroponics combined with green technology can provide sustainable seafood to the global society. Light-emitting nets, smart devices, origin detection technology and geolocating gadgets may help fishers meet eco-consumers’ demands.
Light Emitting Nets
A company in the U.K. developed light-emitting devices, helping reduce bycatch. Today, one out of ten fish caught are unsuitable for the market. Fishers are unable to sell endangered and small fish, leading to 16 million tons of annual waste.
They also waste 20% of space on ships, increasing environmental, ecological and economic costs. As fishers continue to practice wasteful collection methods, the marine ecosystem suffers. Environmental scientists developed a solution to the sustainable seafood problem.
They developed the Pisces light kit, which attaches to fishing gear. The devices fasten onto fishing nets to attract a target catch and repel bycatch, eliminating waste. Pisces uses LED lights, increasing the system’s energy efficiency.
LEDlights use 75% less electricity than conventional light bulbs. They also last 25 times longer, generating less waste over time.
The SMARTFISH H2020 technology enhances sustainable fishing, providing fishers with the resources necessary to protect the marine ecosystem. Environmental engineers at the companyutilize machine vision technology, data procession, visibility devices, machine learning methods, AI, hydroacoustic systems and more, making eco-conscious fishing possible.
Their devices locate sea beds, ensuring fishing equipment only penetrates regions with sufficiently abundant target species. They also have a size and species recognition system. The instrument assesses the length, weight and type of fish below the boat, maximizing catch efficiency and decreasing waste.
Origin Detection Technology
IBM recently teamed up with the Norwegian Seafood Association, Sjømatbedriftene, generating blockchain technology for fishers. The device allows industry members totrack supply chain data, ensuring the safety and sustainability of seafood. Origin detection technology increases transparency in the industry, creating a single version of the truth.
Fishers install blockchain technology on their vessels, recording the time, location, temperature and more, regarding their catch. Industry members can then access this information to ensure accurate labeling on store-sold seafood. Customers may also gain access to this information in the future.
Eco-consumers demand more documentation for the goods and services they consume. In coming years, customers can access the blockchain information in the store. They will see when fishers caught the seafood, where it is from, its consumed feed and processing facility’s sustainability.
Similar to IBM’s technology, innovators at pelagic developed geo-tracking boat devices. Nearlyhalf of the seafood supply derives from small-scale fishing boats. It is challenging to regulate small vessels on conventional identification systems, allowing them to go unregulated.
Pelagic developed geolocating boat devices to track smaller fishers’ practices. Large seafood distributors now require all small vessels to install the data collection system, showing the company where and when they catch seafood. It optimizes the sustainability of the overall business, restricting non-sustainably sourced purchases.
Eco-consumers make up the most extensive customer base in America. For fisheries to remain competitive in the industry, they must adopt green fishing technology and sustainable practices. When consumers demand sustainable seafood and fishers eliminate ecologically degrading procedures, we can restore the marine ecosystem.
Image Credit: Image by Free-Photos from Pixabay
Factbox: How big is Bitcoin’s carbon footprint?
(Reuters) – Tesla boss Elon Musk’s sudden u-turn over accepting bitcoin to buy his electric vehicles has thrust the cryptocurrency’s energy usage into the headlights.
Some Tesla investors, along with environmentalists, have been increasingly critical about the way bitcoin is “mined” using vast amounts of electricity generated with fossil fuels.
Musk said on Wednesday he backed that concern, especially the use of “coal, which has the worst emissions of any fuel”.
So how dirty is the virtual currency?
Unlike mainstream traditional currencies, bitcoin is virtual and not made from paper or plastic, or even metal. Bitcoin is virtual but power-hungry as it is created using high-powered computers around the globe.
At current rates, such bitcoin “mining” devours about the same amount of energy annually as the Netherlands did in 2019, data from the University of Cambridge and the International Energy Agency shows.
Some bitcoin proponents note that the existing financial system with its millions of employees and computers in air-conditioned offices uses large amounts of energy too.
The world’s biggest cryptocurrency, which was once a fringe asset class, has become increasingly mainstream as it is accepted by more major U.S. companies and financial firms.
Greater demand, and higher prices, lead to more miners competing to solve puzzles in the fastest time to win coin, using increasingly powerful computers that need more energy.
Bitcoin is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that often relies on fossil fuels, particularly coal, the dirtiest of them all.
Bitcoin production is estimated to generate between 22 and 22.9 million metric tons of carbon dioxide emissions a year, or between the levels produced by Jordan and Sri Lanka, a 2019 study in scientific journal Joule found.
There are growing attempts in the cryptocurrency industry to mitigate the environmental harm of mining and the entrance of big corporations into the crypto market could boost incentives to produce “green bitcoin” using renewable energy.
Some sustainability experts say that companies could buy carbon credits to compensate for the impact.
And blockchain analysis firms say that it is possible in theory to track the source of bitcoin, raising the possibility that a premium could be charged for green bitcoin. Climate change policies by governments around the world might also help.
Projects from Canada to Siberia are striving for ways to wean bitcoin mining away from fossil fuels, such as using hydropower, or at least to reduce its carbon footprint, and make the currency more palatable to mainstream investors.
Some are attempting to repurpose the heat generated by the mining to serve agriculture, heating and other needs, while others are using power generated by flare gas – a by-product from oil extraction usually burned off – for crypto mining.
The dominance of Chinese miners and lack of motivation to swap cheap fossil fuels for more expensive renewables means there are few quick fixes to bitcoin’s emissions problem, some industry players and academics warn.
Chinese miners account for about 70% of production, data from the University of Cambridge’s Centre for Alternative Finance shows. They tend to use renewable energy – mostly hydropower – during the rainy summer months, but fossil fuels – primarily coal – for the rest of the year.
(Writing by Alexander Smith: editing by Carmel Crimmins)
Image Credit: Reuters
Colonial Pipeline has cyber insurance policy – sources
LONDON (Reuters) – Colonial Pipeline has cyber insurance arranged by broker Aon, with Lloyd’s of London insurers AXA XL and Beazley among the underwriters, three sources told Reuters on Thursday.
Colonial Pipeline has begun to restart the nation’s largest fuel pipeline network after a ransomware attack shut the line, triggering fuel shortages and panic buying in the southeastern United States.
The cyberattack halted 2.5 million barrels per day of shipments of gasoline, diesel and jet fuel last Friday after the most disruptive cyberattack ever on U.S. energy infrastructure.
Insurance Insider reported the news late on Wednesday, saying the cover was for at least $15 million.
Cyber insurance typically covers ransom payments and insurers often provide staff to negotiate with the hackers, in addition to IT and public relations services.
Colonial Pipeline does not plan to pay the ransom, sources familiar with the company’s response told Reuters on Wednesday.
(Reporting by Carolyn Cohn; editing by David Evans)
Image Credit: Reuters
Foreign IT firms must open offices in Russia under new draft law – lawmaker
MOSCOW (Reuters) – Foreign technology companies will be forced to open offices in Russia or face penalties such as advertising bans under draft legislation, a senior lawmaker said on Thursday, in a fresh move by Moscow to exert greater control over Big Tech.
Russia is keen to strengthen control of the internet and reduce its dependence on foreign companies and countries. It has imposed a punitive slowdown on social network Twitter over its failure to delete content Moscow says is illegal.
Apple, Facebook, TikTok and Alphabet’s Google are among other companies to have come under fire from Russian authorities.
The head of the information policy and IT committee at the State Duma, Russia’s lower house of parliament, said the draft legislation would be submitted as soon as possible to combat what he described as IT giants abusing their monopoly positions and distributing content banned in Russia.
“Our draft law would oblige owners of large information resources with a daily audience in Russia of at least 500,000 people to open official offices, which would fully represent their interests and answer for their activities,” Alexander Khinshtein wrote on his Telegram channel.
Failure to do so could lead to companies being banned from advertising their services or hosting advertisements on their platforms. They could also be prohibited from collecting payments or personal data.
Officials say a package of more than 60 support measures is being discussed in government.
“It is important that all these measures in no way infringe the interests of Russian users, do not violate their ability to work with the resource, but create economic incentives for IT giants to observe our legislation,” said Khinshtein.
A law came into force in April obliging smart devices to offer Russian software upon activation.
(Reporting by Alexander Marrow; Editing by Gareth Jones)
Image Credit: Reuters
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