Kent Tribune Fri, 11 Jun 2021 18:23:30 +0000 en-US hourly 1 Kent Tribune 32 32 New animal welfare bill unveiled in parliament Fri, 11 Jun 2021 15:49:28 +0000
  • The government’s “animal welfare action plan” – including a proposal to ban exports of live animals for slaughter and worrying new livestock legislation – was presented to parliament this week.

    The plans fall under the new Animal Welfare (Kept Animals) Bill which had its first reading on Tuesday, June 8. If the bill is successful, the UK will become the first European country to end the practice of exporting live animals for slaughter. The new legislation will also give new powers to the police to better protect livestock, including horses, against dangerous and uncontrollable dogs.

    Improving well-being during the transport of equines intended for slaughter is the founding issue of World Horse Welfare and the association welcomes the government’s plans.

    “Where equines need to be slaughtered, we believe this should happen as close to their point of origin as possible,” said Roly Owers, Managing Director of World Horse Welfare.

    “By their very nature, equines transported to slaughter may be more susceptible to health and welfare risks on long journeys. For this reason, the ban on slaughter movements outside of Britain is great news. ”

    But Mr Owers added that “in reality” nothing will change until a fully digital equine identification and horse movement traceability system is in place.

    “There has been no declaration of export of equines for slaughter from Britain for many years, but horses and ponies are exported for various reasons and there is no way to guarantee a horse declared to be exported for other purposes will not fit. directly for meat, ”he said.

    “Until there is full traceability inside and outside the UK, it is not possible to know where exported horses end up.”

    A spokesperson for the association added that many equines transported under the radar are also not declared as commercial movements.

    “This means that some carriers do not respect welfare during transport legislation, which only applies to commercial carriers, and equines are transported long distances in often cramped conditions,” said the spokesperson.

    “An efficient and reliable equine identification and traceability system is essential to help combat the gray area of ​​falsely identified as non-slaughter or non-commercial carriers slipping under the radar at border crossings. Appropriate controls and the resources available to undertake them are also necessary to enable the new legislation to apply.

    Continued below …

    “This reform is long overdue – for many years the most violent and horrific abuse and cruelty received maximum

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    The spokesperson said the charity also welcomes plans relating to worrying livestock of animals in England and Wales.

    “Attacks on horses by uncontrollable dogs are a worrying problem for owners and riders, and the new legislation will give additional powers to the police, allowing them to identify owners and their animals and to take action.” The legislation includes more than what is traditionally considered agricultural land, so it covers horses grazing in various situations, such as on allotments, or on roads and paths, which is a positive development for equines and their animals. riders when they are hacking, ”he said. mentionned.

    “The bill will now require further readings in parliament before being enacted. Further bills based on the government’s animal welfare action plan are expected in the coming months.

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    ]]> 0 5 questions to ask before applying for a personal loan online Fri, 11 Jun 2021 14:05:24 +0000

    With everything that is done online, banking has also evolved. With online banking, you can get all banking services from the comfort of your home, plus it’s safer, faster and easier. That being said, many people today apply for loans online. Especially personal loans because they are easy to apply and have lower interest rates. So, are you considering requesting a online personal loan? If so, then you are just a few clicks away from getting one.

    But before you apply for a personal loan online, you need to know the answers to some questions about eligibility, interest rates, and your credit score.

    Image source: ibb

    To make sure you’ve covered all the basics, here are five questions you need to ask yourself before applying for a personal loan online:

    1. How much should I borrow?

    The first question you need to ask yourself is how much do you need and how much can you repay. Because a personal loan is taken out to overcome a financial crisis or emergency, but the loan itself will become a financial crisis if you borrow more than you can repay. So, asking for the right amount is your responsibility. At the same time, the lender or financial institution decides your borrowing limit and the amount that will be offered to you based on your creditworthiness.

    1. Am I eligible for a personal loan?

    Before applying for a personal loan, ask yourself: Do I qualify the personal loan eligibility Criteria? It would be best if you assess yourself before the lender does to plan your future decisions accordingly. The personal loan eligibility criteria consist of simple parameters such as the borrower must be a salaried employee and have a decent credit score. So check if you qualify all the parameters and then apply for a personal loan online.

    1. Are there other types of personal loans? If so, which one would be the best for you?

    This is one of the most important questions you should just ask. Some financial institutions and banks offer two types of personal loans which are secured and unsecured personal loans. Secured debt is a loan held by collateral or an asset that the lender can seize if you don’t repay. In contrast, unsecured debt is guaranteed without any asset considered collateral. So, it mainly depends on your income, your credit rating, your current debts and many other factors.

    1. How much will I take to repay the loan?

    You need to decide for yourself whether you want to go for a long term loan or a short term loan before applying for a personal loan online or offline. A long term loan has a lower EMI and is paid off over a longer period. On the other hand, a short-term loan can take a toll on your monthly income for a while, but it helps you get rid of loan payments faster.

    1. What is the interest rate?

    The lender or bank charges interest on the amount you borrow from them. It is advisable to know your NDE before applying for a loan as it allows you to plan your monthly budget accordingly. Thus, when you take out a personal loan, you must repay the principal amount as well as the resulting interest. This interest rate will vary depending on the amount borrowed, your creditworthiness and other factors like income, existing loans, credit rating, etc. So, it would be better to use an EMI calculator to check the interest rate before applying for a personal loan online.

    Taking out a personal loan online is simple, but the tricky part is managing it without letting IMEs interfere with your day-to-day spending. Therefore, it is very important to ask these five questions before making the final decision. To make the process flawless, you can go for reputable banks like Axis Bank which offer safe and smooth online banking and lower interest rates!

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    Judge slams government as it approves robotic debt settlement Fri, 11 Jun 2021 01:30:20 +0000

    About $ 11,000 of that came from Felicity De Somerville, a 33-year-old mother and nursing teacher from Frankston in south-east Melbourne. In 2017, she realized that Centrelink had withdrawn what was then six months’ salary from her account without warning when she tried to pay for her one-year-old daughter’s antibiotics.

    “If they can do this to someone who can stand up for themselves, what are they going to do to the underdog?” Said Ms. De Sommerville, one of the main plaintiffs in the case.

    While Ms De Sommerville is not owed a debt repayment and is unsure whether she will share the $ 112 million in compensation from the settlement, she said Friday’s judgment was a victory as it would set the stage for the legal system to challenge future government failures.

    The ministers, including Energy Minister Angus Taylor, stressed on Friday that the government had failed to recognize its responsibility and said it was important for people not to cheat the welfare system.


    Judge Murphy had said that many of the stories of financial hardship, anxiety, distress, suicidal thoughts and suicide told by the victims of the scheme and their loved ones were heartbreaking. Others felt ashamed and hurt at being falsely labeled as welfare cheaters. “You couldn’t help but be touched by them,” Judge Murphy said.

    Labor government services spokesman Bill Shorten, who was instrumental in launching the class action lawsuit led by Gordon Legal, a Melbourne-based company, called for a royal commission to ensure accountability and allow the public to find out the truth about the beginning of robotic debt.

    “No senior official has lost their job, no minister has lost their job,” Shorten said outside the Federal Court building in Melbourne.

    “In January of this year, the entire Dutch government withdrew after thousands of families were wrongly accused of child protection fraud.”

    Peter Gordon (right) of Gordon Legal led the class action lawsuit against the government on behalf of welfare recipients who were illegally forced to repay money. Bill Shorten of the Labor Party led his party’s charge against her.Credit:Justin mcmanus

    Ministers such as Stuart Robert, Alan Tudge, Christian Porter and Anne Ruston have been part of the social and government service portfolios during the operation of the program. Prime Minister Scott Morison announced some of what turned into robotic debt when he was treasurer in 2016.

    About 202,000 people affected by robotic debt will receive nothing from the settlement. This includes people who had paid nothing for claimed debts or whose debts held up when calculated by more reliable methods.

    Greens Senator Rachel Siewert said the government should release legal advice it previously refused to disclose about the scheme. “This chapter is still open,” said Senator Siewert.

    Gordon Legal will earn $ 8.4 million for his work to date and was expected to receive an additional $ 4.2 million to finalize the settlement, but Judge Murphy withheld that figure, saying he wanted more evidence on the work to do.


    “For these perpetual critics of the… class action plan, this case is yet another example of the plan providing real and convenient access to justice,” said Justice Murphy.

    Crisis assistance is available from Lifeline on 13 11 14.

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    Why the second-hand private equity market is booming Thu, 10 Jun 2021 22:45:45 +0000

    AT MIDNIGHT ON On August 31, 1602, the public offering of shares of a new type of company was closed. The charter of the company, the Dutch East India Company, granted it a monopoly of trade with Asia until 1623, when it was assumed the company would be liquidated. Twenty-one years is a long wait for the return of capital. Small shipping businesses were usually wound up and the spoils split after three or four years, when (and if) the ships returned. The shareholders therefore had a opt-out option after ten years. It didn’t matter. A faster way out soon opened.

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    The merchants who gathered daily around Amsterdam’s New Bridge to trade spices and grains showed willingness to buy and sell stocks. These developments are reported in “The World’s First Stock Exchange”, by Lodewijk Petram, historian. One of the many lessons from the book is that wherever there is a primary market for a new type of asset, there will soon be a secondary market.

    There is a modern analogy in the treatment of holdings in private equity funds. Limited partners of these companies – pension plans and sovereign wealth funds that provide capital – are typically hired for the life of the fund, which is typically ten years or more. The reality is different. A thriving market for “secondaries,” negotiated sales of limited partnerships, has emerged with the maturity of private equity. Private equity investors today are no more stuck on their commitments than the bourgeoisie of Amsterdam were four centuries ago.

    Secondary markets are driven first by asset holders who really need cash. The first sales on the Amsterdam stock exchange were usually made by merchants who could not afford the promised subscription. In private equity, the first secondary transactions were usually struggling sales. They were often hit with large discounts – 25% or more – to the appraised value of the fund’s assets.

    Over time, the stigma of selling faded: in 2019, around $ 85 billion in stakes changed hands. These days, the reason for selling a stake is often strategic. This may involve rebalancing portfolios by geography, industry or year for risk management reasons, for example, or to reduce the number of relationships with general partners of private equity firms. Many limited partners simply want to manage their private assets as actively as their listed assets. Often the funds will sell for more than the appraised value of the companies in the portfolio.

    Over the past decade, there has been a trend towards secondary transactions conducted by general partners, says Andrew Sealey of Campbell Lutyens, a consulting firm. It could be that a ten-year fund is about to expire whose general partners are unwilling to sell the business portfolio because the timing is not right for a good exit price. However, some of the sponsors will need their money.

    The solution is a continuation fund. One example is Nordic Capital VII, a fund established in 2008, which transferred its nine portfolio companies to a € 2.5 billion ($ 3 billion) continuation fund in 2018. A price was set by auction. . Investors had the choice of selling their holdings at a premium over estimated value or staying five more years. Most chose to stay.

    The boom in secondary trade has been supported by the rapid growth of specialist funds. Twenty years ago there were only a handful; now there are dozens of them. Five of the ten largest private capital pools raised last year were for specialized secondary funds.

    The secondary market attracts large fund managers who want to offer their clients the full range of assets, including private ones. For starters, it seems a lot less crowded than the main business. “Anyone can set up a buyout fund,” says one fund manager. Funds often compete with each other to buy the same companies. In a secondary fund, on the other hand, there is a better chance of benefiting from the expertise. It requires sophisticated analysts and good information gathering to assess a stake in a portfolio of companies when it is put up for sale. The general partners have the right to approve the buyers of second-hand shares. These are high barriers that potential rivals must overcome.

    Paradoxically, the rise of the shorter-term secondary market has allowed the formal time horizon of private equity funds to expand almost indefinitely. In this area as in others, private equity follows the Amsterdam of the 17th century. In its early days, the Dutch East India Company was supposed to have a limited lifespan. This was still going on almost two centuries later.

    This article appeared in the Finance & economics section of the print edition under the title “Going Dutch”

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    inclusive, interdisciplinary research teacher named Dean of Social Welfare | Thu, 10 Jun 2021 13:23:07 +0000

    Shari Miller joins Stony Brook on August 1

    STONY BROOK, NY, June 10, 2021 – Shari Miller, PhD, MSW, associate dean of the School of Social Work at the University of Georgia and clinical social worker specializing in interdisciplinary education, has been appointed new dean of the School of Social Welfare at Stony Brook University . His appointment, announced by Paul M. Goldbart, Executive Vice President, Academic and Provost Affairs, takes effect August 1, 2021.

    Dr Miller will strive to continue to prioritize the School’s efforts to build a more equitable society by embracing and promoting diversity and inclusion; working with faculty to expand the research portfolio, including collaborations with many departments at Stony Brook University and beyond on interdisciplinary projects that will have a significant impact on the needs of society.

    “Shari Miller is a very accomplished educator and researcher with a strong commitment to service, as evidenced by her many awards, scholarships, publications and contributions to the University of Georgia,” said Goldbart. “She is a leader in her field, embracing and demonstrating the impact of innovative and interdisciplinary teaching and scholarship. I am delighted to welcome him to Stony Brook.

    Shari Miller, PhD, MSW

    Dr. Miller is a dedicated and talented educator and has received numerous awards recognizing her classroom efforts at UGA, including four Bachelor of Social Work of the Year awards, the Richard B. Russell Award for Excellence in Teaching Undergraduate and Teaching Innovation Award from the Council on Social Work Education and SAGE Publishers. She has supervised and advised numerous graduate students, sitting on a dozen thesis and thesis committees.

    His research focuses on educational innovation with implications for reflective practice in a sustainable global society. Dr. Miller has written over 100 peer-reviewed articles, conference presentations and other scientific papers in leading social work journals. She has been a Principal Investigator or Co-PI on various grants totaling $ 4.8 million funded by the National Science Foundation and the Department of Health and Human Services Health Resources and Services Administration.

    “We are delighted that Dr. Miller is joining Stony Brook University and the Schools of Health Sciences,” said Research Committee Co-Chairs Stacy Jaffee Gropack, Dean of the School of Health Technology and Management, and Iris Granek , founding chair of the Renaissance School of Medicine Department of Family, Population and Preventive Medicine. “Her background in teaching, scholarship, service and administration supports her as an ideal candidate to build on the foundation established by Dr. Mondros during her tenure as Dean of the School of Social Welfare. Dr. Miller’s collaborative focus on interprofessional education, social justice and workforce development aligns well with many of the strategic initiatives currently proposed as we move Stony Brook University forward.

    Dr Miller received his PhD from the University of Maryland in Baltimore, his Masters in Social Work from Yeshiva University, and his BA in Sociology from SUNY Binghamton.


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    We Knew It Was Coming: The First NFT Trial Is Here Thu, 10 Jun 2021 06:47:00 +0000

    On May 12, a plaintiff sued Dapper Labs, Inc. and the CEO of Dapper Labs, alleging a violation of securities laws. that of the complainant complaint alleges that Dapper Labs’ platform NBA Top Shot sold securities when it sold non-fungible tokens (NFTs) on its platform.

    On the NBA Top Shot platform, users can buy and sell NFTs associated with specific NBA music videos, called “NBA Top Shot Moments”. The plaintiff claims that NBA Top Shot sold for more than $ 500 million of these tokens, which are minted by NBA Top Shot and then sold in digital packs of three varieties: common, which include NBA Top Shot Moments which were produced more 1,000 times; rare, which includes NBA Top Shot moments that have been produced up to 999 times; and legendary, which have been produced up to 99 times. The Applicant also notes that NBA Top Shot Moments can be bought and sold in the secondary market from individuals. These sales take place on the NBA Top Shot platform, and depending on compliance, Dapper Labs receives a 5% transaction fee on all transactions.

    The Complainant alleges that NBA Top Shot NFTs are digital assets that “derive their value from the success or failure of a given project, promoter or start-up” and, therefore, this are securities that should have been registered with the Securities and Exchange. Commission. (Complaint, page 2). Specifically, the Applicant points to packaging the NBA Top Shot Moments in limited edition packs and requiring all subsequent sales to be made on the NBA Top Shot platform. The complainant also points out the transaction fees Dapper Labs receives and the issues with withdrawing funds from the platform once deposited there. The claimant claims that these actions result in a product that increases or decreases in value based on the actions of NBA Top Shot. Further, the complainant cites comments from others who have either reviewed the platform or purchased NBA Top Shot Moments, that these NFTs are purchased by people for investment purposes.

    This was the first shot for NFT editors and the platforms that enable NFT’s secondary sales. With limited official guidance regarding NFTs, it’s safe to say that many are watching this litigation. Defendants are likely to first challenge the complaint on a procedural basis, as both defendants appear to be in Canada and may be able to claim a lack of personal jurisdiction. In addition, the plaintiff has brought an action in New York State courts, and the defendants may attempt to “return” the proceedings to federal court. Once the procedural challenges are settled (and unless a resolution is reached), this case can provide the necessary guidance to the industry – we will certainly be watching.

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    CBI delivers big business boss Gautam Thapar for Rs 466-cr Yes Bank loan fraud: The Tribune India Thu, 10 Jun 2021 01:24:00 +0000

    Tribune press service

    New Delhi, June 9

    The Central Bureau of Investigation (CBI) registered an FIR against Oyster Buildwell Private Ltd, Avantha Group promoter Gautam Thapar and others, as its officials raided 14 sites in Delhi-NCR and three other cities as part of the of a case related to an alleged embezzlement of over Rs 466 crore in Yes Bank in 2017-19.

    Agency officials said: “Thapar is already under investigation in another case related to embezzlement of public funds at Yes Bank allegedly involving the former head of the bank, Rana Kapoor.

    In the latest FIR, the CBI also appointed the directors of Oyster Buildwell Pvt Ltd – Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan – as well as unidentified officers of Avantha Realty Pvt Ltd and Jhabua Power Ltd.

    In its FIR, the CBI alleged that Oyster Buildwell Pvt Ltd (OBPL) “is part of the Avantha group with over 97% of the capital held by Avantha Realty and the rest by the Thapar and Vani agencies”.

    The Central Investigation Agency registered the case on the basis of a complaint dated May 27, 2021, which it received from Yes Bank’s vigilance chief Ashish Vinod Joshi.

    The CBI alleged that the defendants engaged in criminal conspiracy, criminal breach of trust, cheating and forgery for embezzlement of public funds to the tune of Rs 466.15 crore, officials said.

    After registering the case, the CBI team searched 14 locations in Delhi and the NCR, Lucknow (Uttar Pradesh), Secunderabad (Telangana) and Kolkata (West Bengal), including the premises of the accused, they said.

    The complaint from Yes Bank, now part of FIR, alleged that Jhabua Power Limited (JPL), an OBPL group company, had entered into an operation and maintenance contract for its 600 MW power plant with its holding company Jhabua Power Investment Ltd (JPIL) for 10 years.

    The OBPL was required to pay a refundable interest-free security deposit of Rs 515 crore to JPIL for which Yes Bank had authorized a long-term loan of Rs 515 crore for 10 years.

    “The company defaulted on payment as the account turned into a non-performing asset on October 30, 2019. The total unpaid capital contributions amount to Rs 466.15 crore,” the complaint alleged.

    In default of payment

    • The CBI case concerns a loan taken out by Oyster Buildwell Pvt Ltd (OBPL), a holding company of Avantha Realty Limited, and its misappropriation between 2017 and 2019
    • The OBPL was required to pay a refundable interest-free security deposit of Rs515 crore to JPIL for which Yes Bank had authorized a long-term loan of Rs515 crore for 10 years
    • The company defaulted and the account turned into a non-performing asset on October 30, 2019. Total outstanding principal contributions amount to Rs466.15 crore
    ]]> 0
    Social assistance: here’s how you can claim exceptional and urgent needs payments for one-time expenses Wed, 09 Jun 2021 19:45:06 +0000

    People living in Ireland may not be aware that a supplementary social allowance scheme exists to help eligible applicants meet exceptional expenses.

    Under this program are “exceptional needs payments” and “urgent needs payments”, with strict rules applying to both.

    Exceptional Needs Payments are awarded to people who have basic, one-time, and “exceptional” needs that they cannot meet with their weekly income.

    This one-time payment may be for bedding or kitchen utensils for a first-time settler, visiting relatives in hospital or prison, funeral expenses, or clothing in exceptional circumstances.

    In some cases, beneficiaries can get help with fuel bills such as heat and electricity, according to Citizens Information.

    The Department of Social Protection

    Whether or not a person was eligible was previously decided by HSE social protection officers, but it is now up to the Ministry of Social Protection to assess the merits of each case.

    The rules of the Exceptional Needs Payment Scheme state that an applicant must live in the state and must meet a means test.

    The Department will examine all sources of income, including capital and property, but excluding your home.

    The amount of payment made will depend on a means test and the type of assistance the applicant requires.

    People who are not normally entitled to payment are those who have access to alternative resources, including money, to meet expenses.

    If the person has a full-time job, which includes 30 or more hours per week, is in full-time education, or is involved in a trade dispute or on strike, they are unlikely to qualify.

    As for payments for urgent needs, they are only allocated in urgent cases.

    For example, in the event of a fire, flood, or other disaster, someone might get payment to help with the immediate cost of food and clothing.

    Depending on individual circumstances, if they are working or when an insurance claim has been settled, they may have to repay some or all of that amount at a later date.

    As with exceptional needs payments, the amount of payment a person receives will depend on the type of assistance they require.

    If the potential applicant is means tested for urgent needs payment, all capital and assets except their home are considered and valued.

    Unlike other social protection schemes, beneficiaries do not have to fulfill the condition of habitual residence in order to claim an emergency needs allowance.

    This means that they do not have to show a strong connection to Ireland or that they have lived or intend to live in Ireland for many years.

    ]]> 0 Mythical Games Raises $ 75 Million for Blankos Block Party Game and Playable NFTs Wed, 09 Jun 2021 13:00:55 +0000

    Elevate your technology and enterprise data strategy to Transform 2021.

    Mythical Games has raised $ 75 million to launch its open-world multiplayer game Blankos Block Party as well as its platform for making games with non-fungible tokens (NFTs).

    Based in Los Angeles Mythical games pioneered the idea of ​​“playable NFTs,” using NFT technology to uniquely identify game characters so players can truly own them. NFTs use blockchain, the secure and transparent digital ledger, to authenticate unique digital items.

    Blankos Block Party, which is in beta testing, has vinyl-style game characters that can be won (through gameplay), bought and sold by players. He started testing his Marketplace where players can buy and sell their characters, which can be personalized or decorated with various things earned in the game.

    WestCap Group, a private equity firm led by former Airbnb executive Laurence Tosi, led the round. Other participants in the cycle are 01 Advisors and VaynerFund by Gary Vaynerchuk, as well as existing investors including Galaxy Digital, Javelin Venture Partners, Alumni Ventures and Struck Capital. This round brings the total amount raised to $ 120 million.

    This amount tells you where we are. NFTs have exploded into other applications, such as art, sports collectibles, and music. Best shot in the NBA (a digital version of collectible basketball cards) is one example – built by Dapper Labs, NBA Top Shot has surpassed $ 500 million in sales, five months after its IPO. And an NFT digital collage by artist Beeple sold at Christie’s for $ 69.3 million. But more recently NFTs have seen their prices drop, with some saying the hype is running out.

    Above: John Linden, CEO of Mythical Games.

    Image Credit: Mythic

    While many NFT projects have been dismissed as overrated get-rich-quick schemes, Mythical Games CEO John Linden said in an interview with GamesBeat that the company is keen to drive mass adoption of ownership in games through playable NFTs. Before blockchain, gamers invested billions of dollars in digital items in other online games with no tangible way to benefit beyond the benefits of casual gaming; content gets stuck behind their account because their purchase is really just a rental or license agreement, with no possibility of transfer or sale, Mythical said. And while other secondary markets have existed in the form of gray and black markets, players who participate in them are exposed to dangerous trades, scams, and even the threat of losing their accounts for violating the terms of the market. ‘use, the company said.

    But the technology is not really easy to create. Mythical Games has more than 100 employees and has been working on its technology and game for three years, Linden said. Adding NFT to a game means a business needs to create a digital wallet for players to securely maintain their digital property. It is based on a blockchain platform, and this platform often needs to be modified to reduce transaction costs, speed up transactions, and use less energy than traditional platforms like Bitcoin and Ethereum. All of this requires engineering work, and Mythical is always recruiting.

    In addition to that, Mythical Games is in discussions with other game companies to license their platform to them so that those game companies can create their own games with playable NFT characters.

    Blankos Block Party

    Above: Blankos Block Party

    Image Credit: Mythic

    Mythical will use the funding to drive mass adoption of in-game ownership through playable NFTs with the growth of its first game, Blankos Block Party; extension to other gaming platforms; and new projects launched later this year and into 2022. Via its Mythical Economic Engine and Mythic Market, the company says it provides a platform for game developers to create their own player-owned savings, as well as new tools for content creators and brands to make it easier to own game assets.

    Through Mythical Marketplace, players can unlock the value of monetary, scarcity, and time-based efforts by selling their NFTs to other players for real money, in safe and secure transactions with proof of purchase. ‘authenticity.

    In the open beta of Blankos Block Party, Mythical enabled player-designed levels. Players currently hold over 100,000 NFT; As the game’s audience continues to grow, legacy assets and specialty releases will become rarer and likely more valuable in the secondary market, creating mass-market scarcity and providing new sources of income for players. players.

    Tosi, managing partner at WestCap, said in a statement that Mythical has transformed the way creators distribute and monetize their art. He said that Mythical’s creative use of blockchain has enabled brands and studios to develop interactive content and engage with fans.

    Mythical Games will make more announcements next week at a conference at the Electronic Entertainment Expo (E3). Viewers can tune in on Monday, June 14 at 11:10 a.m. PT, when Mythical also releases one of the first NFT Twitch Drops via the popular streaming service.


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    ]]> 0 Use foreign currency loans from a group company as an alternative source of financing Wed, 09 Jun 2021 07:17:09 +0000

    Data from the Central Bank of the Republic of Turkey indicates that private sector lending debt abroad and short-term lending debt in general, excluding commercial lending, have reached a level that will cause a economic malaise.

    Due to economic fluctuations and the ensuing pandemic, the financing needs of businesses are increasing day by day. Businesses may need to increase their capital in order to meet these financing needs, assess their unused resources, and effectively manage their funds, if needed. However, in cases where this is not possible due to economic conditions, companies can temporarily meet their financing needs through loans made within the group, provided that the conditions prescribed by law are met.

    The regulations on the use of foreign currency loans came into effect with Decision No. 32 on Protection of the Value of Turkish Currency (“Decision”). The procedures and principles regarding the implementation were determined within the framework of Communiqué No. 32 on the Protection of the Value of Turkish Currency (Communiqué No.: 2008-32 / 34) and the Circular on Capital Movements of 02.05.2018 published by the Central Bank of the Republic of Turkey in accordance with this press release (“Circular”).

    Although joint stock companies resident in Turkey are free to use Turkish Lira denominated loans from abroad through banks; these capital companies can only obtain foreign currency loans through banks and within the framework of the principles set out in Article 17 of the Decision.

    With this in mind, with the increase in foreign source loans used by the private sector, the condition of obtaining foreign currency income for the use of domestic and foreign currency loans has been introduced in accordance with the amendment made to the decree in 2018. Taking into account the needs, the exceptions provided for to this rule have been extended with new regulations since 2018.

    Indeed, in accordance with article 21/15-d of the Circular, legal persons established in Turkey, 100% owned by foreign shareholders residing outside Turkey, may resort to foreign currency loans from group companies with interests foreigners capital by being exempt from foreign currency income criteria.

    On the other hand, for companies with a foreign capital ratio below 100% and companies with national capital, it does not seem possible to benefit from the exemption concerning the use of foreign currency loans. However, in accordance with article 38/2 of the Circular, provided that the transaction is carried out within the same holding company or within the group, and that the debit and monitoring are carried out in Turkish lira, it is possible to transfer the foreign currency the equivalent of debit transactions to the relevant national accounts on the basis of the written declaration of the company.

    This regulation does not mean that foreign currency loans can be extended within the group in the country. There is no new regulation in the aforementioned article, only the practice whereby payments regarding Turkish lira loan transactions carried out within the group can be made in foreign currencies is reflected in the legislation.

    As explained above, companies that want to cover their financing needs but do not increase their capital can assess whether they meet the above exceptions and use intragroup loans as a temporary alternative. However, it is extremely important to plan in advance the legal and fiscal aspects of these temporary funding sources in order to avoid later incompatibilities and possible sanctions.

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