TAAL ANNOUNCES ITS TRANSITION TO A METANET SERVICE PROVIDER
WEBINAR SEPTEMBER 7TH AT 11:00AM EST - ENABLING METANET SERVICES, THE NEXT ERA OF GLOBAL DATA COMMERCE
TORONTO, Aug. 30, 2022 /CNW/ - TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, announces its transition to a Metanet Service Provider. Metanet is the next generation of global data commerce, whereby transactions are completed without third-party intervention. Metanet evolves TAAL's base business of capturing blockchain subsidies towards the monetization of blockchain transactions as a service platform and will drive the next leg of growth for the Company.
To discuss this evolution of its blockchain hashing operations to monetize its new suite of Metanet solutions and services, TAAL's CEO Richard Baker will host a webinar for industry professionals and investors. Mr. Baker will discuss TAAL's transition to a Metanet Service Provider, how the Company is positioned today, provide an overview of TAAL's offerings, and detail the size of the market opportunity. There will be an opportunity to ask questions at the end of the presentation.
Date: Wednesday, September 7, 2022
Time: 11:00am EST
Register Here: https://taal.zoom.us/webinar/register/7316613760960/WN_TPWRaeQfRJ-rqU_RzsihRA
Over the last several years, TAAL has built and operated diversified blockchain infrastructure, with over 450 PH/s of blockchain computing power currently online and a goal of 2 EH/s by early 2024. The Company can deploy its blockchain cloud computing power across all three SHA-256 based blockchain networks - Bitcoin Core ("BTC"), BitcoinSV ("BSV"), and Bitcoin Cash ("BCH") - switching chains economically and dynamically to optimize yield.
Although TAAL has been primarily deriving its revenues from block rewards, the future lies beyond block subsidies. While the Company will continue its blockchain computing operations (a key block subsidy revenue driver in the short to medium term) management has strategically positioned TAAL to capture revenue from BSV blockchain transaction processing fees. As part of this strategy, TAAL has built a suite of software offerings that enable the Company to become a Metanet Service Provider, ensuring additional revenue streams and the long-term sustainability of the business.
Underpinning the next era of global data commerce is the rise of Web 3.0 and Metaverse applications and a Metanet, a new Internet used as a direct exchange of value. TAAL aims to ignite a peer-to-peer network that empowers organizations and individuals to connect directly with the entities they transact with, removing intermediaries and custodial services. As a Metanet Service Provider, TAAL will help transform the way the world sends and receives value.
As blockchain enabled applications evolve, TAAL aims to be at the forefront of this new Web 3.0 platform enabled economy. By 2031, there will be no more block rewards for BTC, BSV, and BTC. Plus, continued halving events on these blockchains will also half block rewards upon each event. This model is not sustainable and therefore, TAAL has evolved its business to leverage underlying blockchain utility to collect transaction processing fees. As blockchains are integrated into the next generation of the Internet, these daily transactions could number in the billions to trillions globally.
Today, TAAL has dozens of customers spanning numerous industries from Gaming, Internet of Things, Supply Chain to Financial Services - all using TAAL's blockchain as a utility network. As blockchain technology development continues at a rapid pace and companies develop new tools and solutions for their customer segments, TAAL will derive future revenue as their Metanet Service Provider.
The Future of the Web 3.0 market alone represents a $81.5 billion market by 2030, according to EMERGEN Research. The Crunchbase Web 3.0 Tracker already shows 15,366 companies have raised $88B in funding to date, with 79 Unicorns already created. BLOCKDATA notes that 40 companies invested $6B into blockchain startups between September 2021 and June 2022, with Alphabet providing over $1.5B of investments. We are seeing unpresented investment in the application, transactional and infrastructure layers to the Web 3.0 ecosystem and TAAL participates in all three layers of this innovative global market.
Please join us as CEO Richard Baker will provide an update on TAAL and the Company's transition followed by an opportunity to ask questions on September 7. To register for the webinar click here.
TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications on the BSV platform, and developing, operating, and managing distributed computing systems for enterprise users. BitcoinSV Blockchain is the world's largest public blockchain by all major utility metrics, data storage, daily transaction volume, scaling ability, and average block size.
For more information please visit – www.taal.com/investors
Neither the CSE, nor its Regulation Services Provider, accepts any responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements included in this news release constitute "forward-looking information" as defined under applicable Canadian securities legislation. The words "will", "intends", "expects" and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the future demand for Metanet Services, the Company's future services offerings, TAAL's future computing power and capacity; development plans and redeployment of activities in North America, geopolitical risks to operations and TAAL's business and strategic plans. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL's Annual Information Form dated March 31, 2022, under the heading "Risk Factors" and elsewhere in TAAL's continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.
SOURCE Taal Distributed Information Technologies Inc.
Media and Investor Contact: TAAL, Richard Baker, Chief Executive Officer, Office: (437) 826-8889, [email protected]; Sophic Capital, Sean Peasgood, Investor Relations, Office: (437) 826-8889, [email protected]
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