Cuba to legalize bitcoin and other cryptocurrencies as a means of payment | Tech

The Cuban government is investigating the possibility of accepting bitcoin and other cryptocurrencies as a means of payment and regulating their use. The country sees it as a way to circumvent US economic sanctions. Earlier this year, El Salvador became the first country in the world to make bitcoin legal tender.

It was announced in a state newspaper that the Cuban central bank may allow the use of cryptocurrencies “for socio-economic purposes”. The central bank will develop rules for who can and may use the digital currency within the communist state in what way. However, the institution warns that individual use of cryptocurrencies is at your own risk.

The popularity of digital coins has increased significantly on the island as the Cuban peso has fallen sharply in value. Normally you can also pay with US dollars in Cuba, but that is more difficult since the stricter economic sanctions introduced under Donald Trump’s policy. Current US President Joe Biden also appears to be following that stricter line.

Cryptocurrencies such as bitcoin make it possible to conduct financial transactions anonymously.

Landen vs. bitcoin

Countries worldwide are struggling about how to deal with a decentralized currency like bitcoin. The price of the digital currency rose in April to a record $ 65,000 (55,000 euros), but then fell sharply. Partly because she faced headwinds from China. The exchange rate dropped below 30,000 dollars (25,400 euros), but has since been on the rise and is now about 48,000 dollars (41,000 euros).

China banned banks from cooperating in bitcoin transactions. Beijing also stepped up its fight against bitcoin mining. To verify bitcoin transactions, special computer systems worldwide are puzzling all day long, which consumes a lot of energy. Iran has also temporarily banned bitcoin mining for fear of electricity problems.

South American countries are more positive about bitcoin. El Salvador became the first country in the world to make bitcoin legal tender. Cryptocurrencies are also popular in countries such as Argentina and Venezuela, which suffer from hyperinflation. In Panama, a neighboring country of El Salvador, there are also legislative initiatives to make bitcoin legal.

In Europe, Switzerland in particular is known as one of the most enthusiastic countries regarding cryptocurrencies. The city of Zug in particular is a real hub for crypto companies, which can even pay their taxes in bitcoin.

Volatility

Bitcoin, Ethereum and other cryptocurrencies or ‘altcoins’ fluctuate rapidly in value, making them unsuitable as a means of payment according to some experts. On the other hand, the growing interest from institutions and companies, according to insiders, is helping to slowly make the currency widely accepted.

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Countries worldwide are struggling about how to deal with a decentralized currency like bitcoin. The price of the digital currency rose in April to a record $ 65,000 (55,000 euros), but then fell sharply. Partly because she faced headwinds from China. The exchange rate dropped below 30,000 dollars (25,400 euros), but has since been on the rise and is now about 48,000 dollars (41,000 euros).

Source: https://www.world-today-news.com/cuba-to-legalize-bitcoin-and-other-cryptocurrencies-as-a-means-of-payment-tech/

3 Infrastructure Stocks to Buy Right Now

Published

Aug 30, 2021 6:55AM EDT

Everyone is talking about the bipartisan infrastructure bill that passed the Senate and is in the hands of the House of Representatives. Whether or not that spending plan comes to fruition, there are companies already supporting infrastructure improvements across the country.

Investors looking for solid companies that may get a further boost if the federal infrastructure plan passes should look at these leaders in their sectors. Steel production company Nucor (NYSE: NUE), utility and renewable energy leader NextEra Energy (NYSE: NEE), and Cummins (NYSE: CMI), which supplies power solutions to heavy equipment makers, are three already-thriving companies that will also benefit from a new infrastructure package.

construction worker lowering bundle of steel rebar.

Image source: Getty Images.

Record earnings already

Steelmaker Nucor recently reported its second-quarter 2021 results, letting investors know the company had already surpassed its annual record for net income in just the first half of the year. The business is thriving due to several factors coming together at once. The U.S. economy rebounded from the pandemic faster than many had anticipated, customer inventories had been depleted due to shutdowns and uncertainty related to the pandemic, and maybe most importantly, steel prices have skyrocketed over pre-pandemic levels.

Nucor’s products are used in most every industry. The construction sector made up 56% of its business in 2020, but its steel is broadly used for automotive, energy, heavy equipment, and appliance applications. Steel pricing has more than tripled late 2019 levels, and the company’s mills were running at 97% of capacity in the second quarter of 2021, up from 95% in the prior quarter.

This level of business activity does not even take into consideration any impacts from a potential federal infrastructure bill. Passage of such a bill would only extend the current high performance level further through the business cycle. And Nucor repeated in its last quarterly earnings call with investors that it continues to plan to return at least 40% of net income to shareholders in the form of dividends and share repurchases. The company last paid an extraordinary dividend when business was booming in 2008. It’s possible that even after growth investments and base dividend are funded, investors might find a special dividend is announced again this year.

electric transmission lines along with wind and solar generation equipment.

Image source: Getty Images.

Support for energy infrastructure

While Nucor could benefit from virtually every aspect of increased infrastructure spending, NextEra Energy is in a unique position to capitalize on two areas related specifically to the energy sector. NextEra is the largest electric utility in the U.S. as measured by retail electricity sales, and it also owns NextEra Energy Resources, a clean energy business that is the world’s largest generator of renewable energy from wind and solar.

A recent U.S. Department of Energy (DOE) report said, “Large-scale decarbonization of the electricity sector could move solar from 3 percent of generation today to over 40 percent by 2035.” The infrastructure bill currently being considered has allocations to aid this ongoing transformation. It includes $73 billion for spending on the electric grid and power infrastructure, as well as $15 billion allocated for electric vehicles. Both areas directly affect NextEra Energy.

NextEra has already shown it can be successful and profitable for investors without new infrastructure bill spending. Since 2005, the company has grown earnings per share at a compound annual growth rate (CAGR) of almost 9% and increased dividends per share at an annual rate of almost 10%.

NextEra Energy Resources currently generates only about 15% of its renewable energy from solar power. It does have a backlog with signed contracts for that to grow, but if the DOE prediction is correct, there will be plenty more to come beyond current levels. Energy Resources is also pursuing alternative energy projects using green hydrogen, which could be another growth driver as decarbonization efforts expand.

NextEra has given investors guidance that estimates 6% to 8% annual growth in adjusted earnings per share from its 2021 base level through 2023. It also expects to continue the approximately 10% annual growth in dividends per share through at least 2022. Additional infrastructure spending should only add to the opportunities the company already has in the works.

Cummins fuel cell-powered train.

A train powered by Cummins fuel cells. Image source: Cummins.

Leading in power solutions

Another company gradually moving into the green hydrogen space is global power giant Cummins. And while hydrogen technology continues to become a larger part of the company’s business, its mobility power solutions are a prime area to benefit in the near term from infrastructure spending.

Spending on rail, public transit, ports and waterways, or roads directly affects Cummins’ business. And that business is currently strong. The company’s market encompasses diverse power technologies including advanced diesel, natural gas, hybrid, electric, and fuel cells. Management believes 2021 revenue will grow between 20% and 24% versus 2020.

And Cummins continues to innovate for the future. At a virtual event last year, company CEO Tom Linebarger said “Hydrogen technologies, particularly electrolyzers, will be a fast-growing and increasingly important part of our business over the next few years.”

With an already strong business that would get an additional boost from infrastructure spending, investors may find Cummins is a good choice for an alternative energy investment in their portfolios.

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In This Story CMI NUE NEE The Motley Fool

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Source: https://www.nasdaq.com/articles/3-infrastructure-stocks-to-buy-right-now-2021-08-30

The 10 Most Purchased Cryptocurrencies in August 2021

10 cryptocurrencies that have been purchased the most in August.

Cryptocurrencies have taken a solid place in the trading market. A lot more people are interested in buying cryptocurrency and Analytics Insight has selected the 10 most purchased cryptocurrencies in August 2021.

Bitcoin

Bitcoin is considered the original crypto, and its launch in 2009 is what started the whole cryptocurrency movement. Bitcoin – and the blockchain technology on which it operates – was invented by an individual or group of individuals operating under the pseudonym Satoshi Nakamoto. Bitcoin was put forward as an alternative to the fiat monetary system. The true identity of Satoshi Nakamoto has never been revealed. In the Bitcoin whitepaper, Nakamoto argued that a fiat monetary system controlled by central banks and a small number of financial institutions led to a centralized wealth and power and made social and financial mobility difficult. Ordinary people’s savings were eroded through inflation, largely as a result of central banks’ money printing. Bitcoin solved that problem by fixing the number of units ever issued, thereby preventing inflation caused by money printing. Bitcoin’s peer-to-peer blockchain technology meant it didn’t need financial institutions to facilitate transactions and verify ownership. Bitcoin is still by far the most popular cryptocurrency and its price movement has a strong impact on the rest of the crypto market.

Ethereum (Ether)

Ethereum is historically the second most popular cryptocurrency however it is very different from Bitcoin. Ethereum is the name of the blockchain platform and Ether is the name of the cryptocurrency. Ethereum is the blockchain platform for smart contracts. They can also be considered as defined ‘rules’ from which many different applications, or Dapps – decentralized applications – can be created from. Ethereum Dapp’s range from games to Initial Coin Offerings (ICOs), which are the cryptocurrency world’s equivalent to crowdfunding or IPOs. While other smart contract platforms have been launched since Ethereum, each claiming to offer more sophisticated blockchain technology, the original blockchain has retained its position as the most utilized. While Bitcoin is intended as an alternative to traditional fiat currencies, the purpose of Ether (besides being traded as an asset) is to pay for use of the Ethereum platform. It’s known as a ‘utility’ cryptocurrency.

Ripple XRP

Ripple XRP is another ‘utility’ coin. Its blockchain platform is set up to facilitate cross-border transfers of fiat currency more efficiently. Closely connected to and supported by several banks from its beginning, Ripple XRP is often regarded as the ‘establishment’ cryptocurrency. The number of transfer services using Ripple’s platform has gradually grown over the years and there is a genuine possibility that it will become part of the traditional financial system.

Litecoin

Litecoin is another potential fiat alternative and a prominent rival for Bitcoin. Its creators hope Litecoin will eventually be used to pay for everyday goods and services. Litecoin has positioned itself as a more practical and technologically superior alternative to Bitcoin. Litecoin transactions can be confirmed by the P2P network significantly quicker than Bitcoin transactions. In theory, this could make Litecoin more attractive for merchants, but with ‘real-life’ cryptocurrency transactions still hugely limited, Bitcoin’s more established ‘brand’ keeps it well out in front as the fiat alternative cryptocurrency of choice.

NEO

Like Ethereum, NEO is a smart contract and Dapps platform. Released in 2014, NEO’s ambition was to improve upon Ethereum by offering approximately the same utility through a technologically more sophisticated example of blockchain technology. Many argue NEO is the technically superior platform to Ethereum but, as is the case with Litecoin and Bitcoin, the latter’s more established position has helped it maintain a larger market share.

IOTA

IOTA is a unique cryptocurrency that is based on the Directed Acyclic Graph (DAG) structure, created to work with Internet of Things (IoT) devices. IoT facilitates feeless microtransactions involving connected devices, and it also helps maintain their data integrity. More recently, IOTA jumped to the top of the list of most traded cryptocurrencies and appears to have a big future, with IoT technology becoming the standard.

Tether

Tether is a cryptocurrency with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether is called a stable coin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether issued.

Cardano

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.

Dogecoin

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. Despite its satirical nature, some consider it a legitimate investment prospect.

Binance coin

Binance coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. Binance coin initially ran on the Ethereum blockchain with ERC 20 standard but has since become the native coin of the Binance chain. Binance coin has a strict maximum of 200 million BNB tokens.

Litecoin is another potential fiat alternative and a prominent rival for Bitcoin. Its creators hope Litecoin will eventually be used to pay for everyday goods and services. Litecoin has positioned itself as a more practical and technologically superior alternative to Bitcoin. Litecoin transactions can be confirmed by the P2P network significantly quicker than Bitcoin transactions. In theory, this could make Litecoin more attractive for merchants, but with ‘real-life’ cryptocurrency transactions still hugely limited, Bitcoin’s more established ‘brand’ keeps it well out in front as the fiat alternative cryptocurrency of choice.

Source: https://hotcryptonewseveryday.com/2021/08/the-10-most-purchased-cryptocurrencies-in-august-2021/

New Multimillion Crypto Investment Rounds, Binance Withdrawals + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news Major Bitcoin miner Genesis Digital Assets has announced a USD 125m round of equity funding to purchase equipment and build new data centers in the United States “and nordic region.” The funding round comes from Kingsway Capital, a UK-based private equity fund focused on frontier emerging markets with over USD 2bn in assets unde…

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Investments news

Major Bitcoin miner Genesis Digital Assets has announced a USD 125m round of equity funding to purchase equipment and build new data centers in the United States “and nordic region.” The funding round comes from Kingsway Capital, a UK-based private equity fund focused on frontier emerging markets with over USD 2bn in assets under management, the mining company said.BTC rewards company Lolli said it has closed a USD 10m Series A financing round led by Acrew Capital. The financing will contribute to the expansion of the company, hiring, new partnerships, and further development of the recently launched mobile app, they said.Fintech product Eco has announced a USD 60m fundraising round led by investment firms Activant Capital and L Catterton and joined by existing investors like a16z Crypto. The project had previously raised USD 26m in a funding round in March.Crypto mining firm Stronghold Mining is seeking to raise USD 100m in an initial public offering (IPO), according to regulatory documents. Stronghold is moving to expand the scope of its operations with additional generation facilities that process waste coal, which has most of its toxins eliminated, producing fly ash that can later be used as a fertilizer, they said.”Multichain relayer infrastructure network” Biconomy said that it has raised USD 9m in a private funding round led by investment firms DACM and Mechanism Capital. The funds will help the company further scale its current products, ensure multichain transaction infrastructure, and make essential technological developments, they said.Trading app Robinhood is working on a new feature that will help protect users from crypto price volatility, Bloomberg reported. The feature, called “price volatility protection”, has a message in the code that reads, “To protect your orders against price volatility, we may sometimes skip your recurring orders or buy less than your chosen amount.”

Exchanges news

Binance is lowering their daily withdrawal limits from BTC 2 to BTC 0.06 (c. USD 2,000) for accounts that have only passed their Basic account verification, CEO Changpeng Zhao said, adding that this step is part of their efforts to comply with regulations by enhancing their know-your-customer efforts.

Regulation news

The Malta Office of the Commissioner confirmed it has found the accounts filed by the Binance Blockchain Charity Foundation for the years 2018, 2019, and 2020, originally submitted in September 2020, according to Times of Malta. This finding comes after the watchdog had warned the foundation that they would pursue legal action over the supposed failure to submit, but as the mistake was on their part, no such action will be taken, per the outlet.Robinhood is facing an investigation over CEO Vlad Tenev’s failure to register with the US Financial Industry Regulatory Authority (FINRA), per a regulatory filing. “Robinhood is evaluating this matter and intends to cooperate with the investigation,” the firm said.

CBDCs news

Nigerian central bank governor said that the country is planning to launch its own digital currency (CBDC), called the “e-naira”, in October, per Reuters.Eesti Pank, the Estonian central bank, said it carried out a research project into the technical possibilities for a digital euro alongside the European Central Bank and seven other central banks of the euro area and found that “the innovative digital euro technology based on the blockchain is highly scalable” and also provides “a good balance between privacy and the need to meet anti-money laundering requirements.”

Career news

SEBA Bank, a Financial Market Supervisory Authority (FINMA) licenced Swiss Bank, has announced it has appointed Sam Lin as their Asia CEO. Lin has over 15 years of experience in investment banking at Credit Suisse and Barclays, and his appointment serves to demonstrate the bank’s intent to offer digital asset banking services in Asia, they said.

The Malta Office of the Commissioner confirmed it has found the accounts filed by the Binance Blockchain Charity Foundation for the years 2018, 2019, and 2020, originally submitted in September 2020, according to Times of Malta. This finding comes after the watchdog had warned the foundation that they would pursue legal action over the supposed failure to submit, but as the mistake was on their part, no such action will be taken, per the outlet.Robinhood is facing an investigation over CEO Vlad Tenev’s failure to register with the US Financial Industry Regulatory Authority (FINRA), per a regulatory filing. “Robinhood is evaluating this matter and intends to cooperate with the investigation,” the firm said.

Source: https://flybit.net/read/new-multimillion-crypto-investment-rounds-binance-withdrawals-more-news

With cryptocurrencies the US government will pay for information related to the defense of its national security

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, With cryptocurrencies the US government will pay for information related to the defense of its national security, Forex-News, Forex-News

The United States government announced that it will pay with cryptocurrencies to those who provide useful information that helps protect their national security. Specifically, the State Department would contribute an equivalent of $ 10 million dollars to the platforms that provide information on cyberattacks prepared by foreign governments.

This measure stands out for being the first time that the North American nation has appealed to cryptocurrencies for payment of rewards for services received. It should be noted that this measure clearly refers to China. Recently, the European Union, the United States and NATO accused China of attacking the company Microsoft.

That attack on the tech giant, according to Western nations, was planned by the Chinese government itself. In this way, this group of nations, joined by Australia and New Zealand, would be creating a defense network against cyber threats supposedly coming from and organized by Beijing.

United States government will pay for services with cryptocurrencies

The fact that the United States government itself, through the State Department, will pay with cryptocurrencies is momentous. It is the first precedent in which the authorities of that country use digital currencies. In this case, to access sensitive information related to the defense of your national security.

This fact makes it clear that the US authorities are using all possible methods and forms in the face of external threats. It should be remembered that recently the Colonial pipeline was successfully attacked by Russian hackers. This fact cast doubt on the defense capacity of the United States against such threats.

«This is the first time that the justice-oriented information rewards program uses cryptocurrencies“Explained a spokesperson quoted on CoinDesk. This institution of the North American government, would be proceeding through the dark web to protect the informant source.

, With cryptocurrencies the US government will pay for information related to the defense of its national security, Forex-News, Forex-News

That would be, at the same time, the purpose of the United States government, when announcing that it will pay the rewards precisely with cryptocurrencies.

, With cryptocurrencies the US government will pay for information related to the defense of its national security, Forex-News, Forex-News

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Source: https://www.forex-news.com/crypto-news/with-cryptocurrencies-the-us-government-will-pay-for-information-related-to-the-defense-of-its-national-security/

Israel Says Terrorist Organization Hamas Owns At Least $7.7M In Cryptocurrencies, Including Dogecoin

Terrorist organization Hamas owns at least $7.7 million in cryptocurrencies, including meme cryptocurrency Dogecoin (CRYPTO: DOGE), according to a seizure order issued by Israel.

What Happened: Israel’s National Bureau for Counter Terror Financing issued the seizure order against 84 cryptoasset addresses believed to be controlled by Hamas, according to Elliptic, a provider of crypto compliance solutions.

Elliptic said in a blog post that it has previously identified many of these addresses as being associated with the Al-Qassam Brigades, the military wing of Hamas.

See also: How To Buy Dogecoin (DOGE)

The seizure order indicates that Hamas is now using a wide range of cryptocurrencies — including Dogecoin, Bitcoin (CRYPTO: BTC), Tether (CRYPTO: USDT) and Ethereum (CRYPTO: ETH).

Elliptic estimated that the 84 wallets have collectively received over $7.7 million in cryptocurrencies. This includes $4.1 million in Tether, $3.4 million in Bitcoin and more than $40,000 in Dogecoin.

See Also: Why Is Dogecoin Moving Today?

Why It Matters: Citing on-chain data It was reported by CoinDesk in June that Hamas received generous Bitcoin donations and send them through cryptocurrency exchange Binance as violence escalated in Gaza this year.

It was reported in May that Colonial Pipeline Co. paid nearly $5 million in untraceable cryptocurrency to the ransomware who shut down the largest fuel pipeline in the United States.

U.S. Senator Elizabeth Warren said in June that cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis. In a Senate hearing, she called for lawmakers in the country to take a more direct approach to address the problems posed by cryptocurrencies.

Price Action: Dogecoin is down 9.5% during the last 24 hours, trading at $0.2138 at press time.

Read Next: Dogecoin Is A ‘Scam’ That ‘Ends Very Badly,’ Says Ric Edelman

The seizure order indicates that Hamas is now using a wide range of cryptocurrencies — including Dogecoin, Bitcoin (CRYPTO: BTC), Tether (CRYPTO: USDT) and Ethereum (CRYPTO: ETH).

Source: https://www.benzinga.com/markets/cryptocurrency/21/07/21890734/israel-says-terrorist-organization-hamas-owns-at-least-7-7m-in-cryptocurrencies-including-

$4M investment powers Daupler hiring, expansion as startup scales into new verticals

A newly announced funding round for Daupler positions one of Kansas City’s top startups as “well-resourced and hiring like crazy” amid expansion plans and rapid entry into new markets, said CEO John Bertrand.

The $4 million investment — led by San Francisco-based Burnt Island Ventures with participation from Revolution Fund, Runway Venture Partners, Knoll Ventures, and KCRise Fund — comes as the Overland Park-headquartered govtech company takes root within the infrastructure of more than 200 municipalities and service providers in 26 states, and spreading across Canada and Brazil.

Elevator pitch: Daupler simplifies the way people communicate with local government and utilities. We provide software and AI to triage issues, dispatch staff, document response data, and engage citizens throughout the process. Our systems completely transform the way these entities respond to issues.

• Founders: John Bertrand, Ryan Rosenbaum
• Founding year: 2017
• Amount raised to date: $5.7M
• Noteworthy investors: Burnt Island Ventures, Revolution Fund, Runway Venture Partners, Knoll Ventures, KCRise Fund, Techstars Kansas City
• Programs completed: Techstars 2018
• Current employee count: 30

Click here to read why Daupler, a first response software platform for utilities and public works, was selected as one of Startland News’ Kansas City Startups to Watch in 2021.

The funding is expected to strengthen Daupler’s product, as well as add “fuel to the fire” of the startup’s plan to hire top-tier talent to drive growth, said Bertrand, who co-founded Daupler with Ryan Rosenbaum in 2017.

“We’re basically taking advantage of every unfair opportunity that we can,” Bertrand told Startland News of the company’s scale-up efforts. “If we can bring in really great resources and people who have a lot of experience now, it lessens the learning curve and will allow us to go even faster and further. If we don’t have to spend three to six months ramping someone up, they can help us better keep up with the massive demand we’re seeing from all our customers.”

In addition to bringing in proven leadership for Daupler’s customer service and marketing departments — and equipping them with the resources to build out their teams — the company also is fleshing out its sales and developer hiring needs, he detailed.

Daupler has more than doubled its footprint over the past year, Bertrand said, driven by high demand and the startup’s identification of new target markets for its solution. The company’s proprietary core engine uses natural language processing to reduce response times by 75 percent on average.

“The methodology of response management obviously applies to local governments, but the potential for rapid growth also comes from outside of [the government sector],” he said, noting Daupler’s primary customers are utility companies and municipalities providing water-related services. “One of the things we’ve learned is that a chunk of our water utilities also provide power. So as we start to tap into the power market, there’s a huge opportunity to get into conversations with other kinds of service providers and ask: ‘What’s your biggest issue or problem? And how are you currently responding to it? How do you engage with your citizens?’”

Daupler also is exploring industrial applications for its technology, Bertrand said, adding it has life-saving potential regardless of where it’s deployed.

During this winter’s Artic Blast, for example, the Daupler platform automated the response to more than 15,000 events, expedited service restoration, and enabled millions of people to easily communicate with their service providers, he said.

“We’re at an important place when it comes to providing real value to citizens — you see that especially when you have a weather event like this past February’s Arctic Blast, which hit more than half the country,” Bertrand said. “That meant a lot of service outages; a lot of water main breaks. We’re handling thousands and thousands of incidents like that, which really translates to a huge impact.”

Watch a video below of Bertrand’s interview from Startland News’ Startups to Watch interview special, then keep reading.



Impact helped draw the attention of lead investor Burnt Island Ventures, which maintains a keen interest in water-related startup solutions, the fund said.

“It’s always a huge pleasure to back companies that create extensive value in the lives of those who run our society,” said Tom Ferguson, managing partner of Burnt Island Ventures, and a former programming executive at the Imagine H20 accelerator in San Francisco. “Daupler can become the operational engine of the city — and for any company or organization running a network of physical assets.”

Ferguson joins Daupler’s board of directors as part of the investment.

John Bertrand, Daupler

John Bertrand, Daupler; Startland News photo

Noting the round took only three months to raise, Bertrand expressed pride in attracting coastal investors, as well as maintaining the confidence of early backers.

“It’s really cool to see KCRise Fund double down on their investment in us and their belief in our company,” he said, specifically pointing to the Kansas City based fund, as well as acknowledging the Steve Case-backed Revolution Fund that joined the round.

Daupler has the perfect formula for a successful venture-backable enterprise, said Darcy Howe, founder and managing director of KCRise Fund.

“Govtech has not traditionally been a darling of venture capital, primarily due to concerns of long sales cycles,” Howe said. “Daupler has broken the code and reduced time to revenue in a very large addressable market and in an industry in need of modernization.”

Revolutionizing the utility industry also comes with an equity focus, Bertrand added, echoing the company’s commitment to social equity across service areas — eliminating potential biases often reflected across infrastructure and geography.

“That’s what gets me out of bed in the morning. We’re not just out here making a quick buck,” he said. “We do this because we believe that every single person in every single place across the country needs us. Everyone deserves access to a solution when the power goes out or their house is flooding.”

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Source: https://www.startlandnews.com/2021/07/daupler-investment/

Kuroda Says BOJ Ready to Buy ETFs ‘Boldly,’ Drops No Hints on When

By Leika Kihara

TOKYO (Reuters) -Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank was ready to buy exchange-traded funds (ETF) “boldly” when necessary, but did not offer any hints on whether it would step in to stem the current market rout.

The central bank has held off from buying ETFs this month even as Japanese share prices sank on worries over rising global input costs and a tech sell-off on Wall Street.

Kuroda said the BOJ’s purchases were not intended to prop up stock prices at a certain level, but were operational decisions based on market moves at the time.

“We don’t have any automatic, set rule in buying ETFs, such as doing so when stock prices fall by a certain amount in several days,” Kuroda told parliament.

“There’s absolutely no change to our stance of buying ETFs boldly when necessary,” he added.

As part of efforts to make its massive stimulus sustainable, the BOJ in March ditched a pledge to buy ETFs at a set annual pace and now promises to step in only when necessary.

Since then, it has bought ETFs on three days in March, once in April and not at all so far in May. That is well below its average appearance of six days per month last year.

Data disclosed by the BOJ showed the central bank did not buy ETFs on Thursday, even as the Nikkei fell 2.5% to hit a four-month low. The broader Topix shed 1.5% to touch a three-month low.

Kuroda said the BOJ’s basic stance was to buy ETFs in huge amounts when market fluctuations are large, based on its findings that doing so was most effective in maximising the effect.

On Japan’s economy, Kuroda warned of risks to the outlook as a spike in new COVID-19 variants and a third state of emergency measures weigh on growth.

“Economic activity will remain below pre-pandemic levels for the time being,” he said.

Kuroda also said a spike in U.S. consumer inflation was likely transitory and won’t lead to an immediate shift in the Federal Reserve’s ultra-easy monetary policy.

“As for Japan, there’s absolutely no risk of inflation surging such as in the United States and China,” he added. “It’s not something we are worried about.”

Japan’s economy likely contracted in the first quarter and analysts expect any rebound to be modest in April-June as new state of emergency measures cool consumption.

With retailers reeling from the curbs, the BOJ was ready to extend a September deadline for a pandemic-relief programme aimed at channeling funds to small firms, its Executive Director Shinichi Uchida told the same parliament session.

(Reporting by Leika Kihara; Editing by Ritsuko AndoEditing by Shri Navaratnam and Kim Coghill)

Copyright 2021 Thomson Reuters.

“There’s absolutely no change to our stance of buying ETFs boldly when necessary,” he added.

Source: https://money.usnews.com/investing/news/articles/2021-05-12/bojs-kuroda-warns-of-economic-uncertainty-amid-pandemic-curbs

Elon Musk creating ‘market hype’ for cryptocurrencies: investment CEO

Axios

European Union says vaccine patents waiver is no “magic bullet”

European leaders ramped up their criticism of the United States’ support for a proposal to waive certain patent protections for coronavirus vaccines, with European Council President Charles Michel saying Saturday that a waiver is not “the magic bullet,” AP reports.Why it matters: The leaders instead pressed President Biden to lift U.S. export restrictions on vaccines, arguing it would have a greater impact on vaccine production and distribution.Get market news worthy of your time with Axios Markets. Subscribe for free.Context: Proponents of the patent waiver proposal, which was introduced before the World Trade Organization by South Africa and India, say it will help increase vaccine production and deliver doses to the developing world.The proposal is working its way through the WTO, though all 164 member countries will have to consent to the decision and negotiations over it are expected to last for months, according to Reuters.What they’re saying: “We don’t think, in the short term, that it’s the magic bullet,” Michel said of the waiver proposal during the second day of a European Union summit in Portugal, according to AP.“I see more risks than opportunities,” German Chancellor Angela Merkel said. “I don’t believe that releasing patents is the solution to provide vaccines for more people.”“I’m very clearly urging the U.S. to put an end to the ban on exports of vaccines and on components of vaccines that are preventing them being produced,” French President Emmanuel Macron said. The big picture: While the U.S. has strictly limited the export of American-made vaccines, the EU has distributed about 200 million doses to countries outside of the 27-nation bloc, according to AP.Critics of the waiver proposal have warned that it could discourage drug companies from embarking on research for emergency vaccines and medicine in the future and could set a dangerous precedent.The waiver also might not fix the gaping global divide in access to vaccines as quickly as proponents expect, since a lack of funding, logistical support and manufacturing capacity could limit its impact, Axios’ Caitlin Owens reports.Go deeper: U.S. could fill “vaccine diplomacy” void as other powers struggleLike this article? Get more from Axios and subscribe to Axios Markets for free.

Source: https://news.yahoo.com/elon-musk-creating-market-hype-192856299.html