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FDA‘s review of epilepsy drug could bring windfall to CBD companies

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(FinancialPress) — This summer is set to leave a landmark for the cannabis industry. The Food and Drug administration prepares to give its ruling on the first drug derivated from the plant.

Epidiolex, an epilepsy therapeutic drug made cannabis-extracted cannabidiol, could vanquish decades of propaganda by the government about the plant‘s alleged lack of medical benefits.

The UK‘s GW Pharmaceuticals is the company behind the request for approval to the FDA, looking to commercialize its product in the United States.

The date set for the public hearing and review of evidence regarding the issue is set for this Thursday. While the final decision will only be made come summer, the FDA will gather a group of independent experts this week to review the product. This signals that, while the Agency is open to evaluate the request, it will do so with extreme caution – understandable, it being a cannabis drug aimed at children.

Several cannabis businesses were inquired about their views on this hot topic for the industry. What they see as the top five points of contention can be condensed as follows:

  1. How the drug is manufactured: GW Pharma has gone on record stating that it will not try to interfere with businesses or individuals that look to manufacture “artisanal CBD“. However, the industry at large will be looking closely at how the hearing goes as far as attempts of obtaining blanket exclusivity on the product‘s formulation. “The hemp industry should be focused on ways it can co-exist with a pharmaceutical product,” said Garett Graff, a hemp attorney for Denver-based Hoban Law Group.
  2. Availability: How quickly can the company meet a sudden rise in demand
  3. Rescheduling of cannabis by the DEA: while the FDA will not define the rescheduling of cannabis if they grant approval for the drug, the industry believes that the two things go hand in hand.
  4. Edibles: the industry will look for hints that may point to the FDA looking to apply pharmaceutical oversight to CBD in food products.
  5. Patents: GW Pharma has requested a battery of patents. While the FDA does not define if they are granted, the topic will be brought up and the industry will be looking at conversation revolving that particular topic.

Ruben is a South American writer who focuses on the state of the cryptocurrency, cannabis and tech industries worldwide.

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NetCents Technology, Disrupting the Payments Industry

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(FinancialPress) — It’s been quite the year for cryptocurrency and blockchain. We’ve gone from massive growth and speculation to a market correction and have now entered into a strong, steady growth phase with the emergence of companies that are building the industry’s foundation for future growth. These companies have a solid business and growth plan, a strong go to market strategy, products that differentiate themselves from competitors, and technology that disrupts.  

Not only are we seeing newer companies and innovative startups emerge solving big problems using blockchain, but the growth in the space has attracted major companies like Softbank and IBM’s Watson, blue chip brands such as SAP (SAP:NYSE), BP (BP:NYSE), Samsung, and shipping giant, Maersk, who are now exploring ways to apply decentralized ledger systems and new blockchain technologies to their operations.  

One stand out company that has continued to push the boundaries of innovation, and who has emerged as one of the leaders in this space is NetCents Technologies. NetCents (NC:CSE) is a blockchain and cryptocurrency company that has developed a universal transactional hub for cryptocurrency payments. The platform equips merchants, ISO’s, and payment technology companies with a platform to integrate cryptocurrency payments into their business, accept with zero risk, and empower consumers to spend their currency easily.

The NetCents platform has eliminated the risk and volatility associated with accepting cryptocurrency payments, allowing merchants to be indifferent to the form of payment received. They are now showing signs of becoming an underlying technology layer for other processors and companies wanting to offer these services to their clients, and have proved themselves to be a pioneer in this space as one of the first companies in Canada.

In the past couple of months alone, they have made significant strides rolling out multiple enhancements to their platform and agreements:

  •    Signed a merchant agreement with MindGeek, one of the largest video streaming companies in the world
  •    Announced the launch of their cryptocurrency credit card. Unlike all other cards on the market, prepaid crypto credit cards, theirs will be tied directly into the users wallets, allowing them to spend their cryptocurrency at 40 million merchants worldwide, without having to worry about the value of their crypto fluctuating between the time the user loads it and the time that they spend it.
  •    Launched a merchant marketing campaign to over 1 million merchants worldwide
  •    Added Bitcoin Cash, Verge, Tron, Nem, and Horizon to their merchant gateway
  •    Signed an agreement with SoftPoint. Through this integration, NetCents is now integrated into some of the largest POS and terminal systems: Clover, PAX, Poynt, Ingenico, ExaDigm, Micros, NCR, Squirrel, and Dinnerware to name a few.
  •    Entered into a white-label enterprise agreement with High Risk Commerce. High Risk Commerce will be promoting the NetCents merchant gateway to their hundreds of ISO’s and over 10,000 merchants.

With these large contracts signed, new integrations, and platform enhancements, NetCents is a company that has been able to differentiate themselves, build and grow a strong platform and client base, which has them as one of Canada’s stand outs, and which hasn’t gone unnoticed by some of the biggest players in the tech community in the country.

Just this week, they announced that they had been nominated as Blockchain Company of the Year at the Canadian FinTech & AI Awards, showing that key industry players are taking note of what they have accomplished in a short period of time. Keep your eyes on this one.

Disclaimer:

This content is the view of the author and should not be considered a solicitation to buy or sell stock. Always consult an investment advisor before making any trading decisions. A fee has been paid for the creation and distribution of this content. FinancialPress.com is operated by Stock Social Inc. and owners of which may directly or indirectly own securities in the profiled companies in this article. This presents a potential conflict of interest by the author(s) and information should be considered biased. We do not make claims to any accuracy of the statements within. Always do your own due diligence and consult a registered advisor when making any trading decision. FinancialPress.com does not recommend that the securities profiled should be purchased, sold or held and is not liable for any investment decisions by its readers or subscribers. Information presented by FinancialPress.com may contain “forward-looking statements ” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance, are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements may be identified through the use of words such as “expects, ” “will, ” “anticipates,” “estimates,” “believes,” “may,” or by statements indicating that certain actions “may,” “could,” or “might” occur.

 

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NetCents Technology Nominated as Blockchain Company of the Year

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(FinancialPress) — NetCents Technology Inc. (“NetCents” or the “Company“) (CSE: NC/ Frankfurt: 26N), is honoured to be recognized by the Digital Finance Institute as a nominee for Blockchain Company of the Year at the 4thAnnual Canadian FinTech & AI Awards.

The Canadian FinTech & AI Awards are Canada’s largest and most prestigious FinTech event with over 3,000 attendees from the banking, legal, finance, tech, startup, and Blockchain community. The Canadian FinTech & AI Awards were started in 2015 by the Digital Finance Institute to recognize and celebrate Canadian innovation in financial technology and artificial intelligence. The Awards bring together Canada’s leaders in finance to celebrate and support Canadian technology. The Awards gala will be held November 26th in Toronto at the Carlu.

“We’re honoured to receive this recognition and to be nominated for this prestigious award alongside such innovative companies, all of whom push the boundaries every day.,” stated Clayton Moore, CEO at NetCents Technology. “To be recognized by our community like this is an honour and a testament to the dedication and hard work of our team. Congratulations to our fellow nominees and thanks to all the sponsors this year who continue to support technology and innovation in Canada.”

About NetCents

NetCents is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents Technology is integrated into the Automated Clearing House (“ACH”) and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer’s security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.™

On Behalf of the Board of Directors
NetCents Technology Inc.

“Clayton Moore”
Clayton Moore, CEO, Founder and Director

NetCents Technology Inc.
Suite 880, 505 Burrard St (Bentall 1),
Vancouver, BC, V7X 1M4

Cautionary Note Regarding Forward Looking Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

The CSE has not reviewed, approved or disapproved the content of this press release

SOURCE NetCents Technology Inc.

For further information: please visit the corporate website at www.net-cents.com or contact Gordon Jessop, President / COO at: gord.jessop@net-cents.com.

SOURCE: https://www.newswire.ca/news-releases/netcents-technology-nominated-as-blockchain-company-of-the-year-699933632.html

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Uber to settle data breach case for $148 million

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(FinancialPress) — Ride-hailing service provider Uber has reached an agreement to settle a 2016 data breach case. It will have to pay $148 million to close the investigation, after it was accused of intentionally hiding the event.

The settlement – the largest of its kind in recorded history – will be divided up among the 50 states that levied the case through their attorney generals, and Washington DC, said the NY attorney general.

The issue began when the company was accused of violating state-level notification laws by avoiding to disclose that their users‘ personal information had been stolen in 2016. 57 million people were affected at the time.
It was only in late 2017 that Uber revealed that they had paid off the hackers to destroy the data. The price tag was $ 100,000. Uber settled the FTC investigation on the topic in April.
The settlement compromises Uber to implement a corporate integrity program to incentivize employees to report any activities they deem unethical. It will also have to align itself to model data breach notification and data security practices. Lastly, it will be audited on its data security practices by a third party.

In a press conference, New York attorney general Barbara D. Underwood commented on the settlement: “This record settlement should send a clear message: we have zero tolerance for those who skirt the law and leave consumer and employee information vulnerable to exploitation“. Her state will receive approximately $5.1 million of the payout.

A blog post published by Uber chief legal officer Tony West reads as follows: “Our current management team’s decision to disclose the incident was not only the right thing to do, it embodies the principles by which we are running our business today: transparency, integrity, and accountability. We’ll continue to invest in protections to keep our customers and their data safe and secure, and we’re committed to maintaining a constructive and collaborative relationship with governments around the world.”

 

 

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