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Portal Announces New Partnership with Babylon for Enhanced Bitcoin Security

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Portal’s new partnership with Babylon significantly enhances security in cross-chain swaps and creates more utility and accessibility to Bitcoin.

SAN FRANCISCO, Feb. 13, 2024 /PRNewswire-PRWeb/ — Portal, a fintech provider advancing financial self-sovereignty with robust technology for secure and trust-minimized access to Bitcoin and diverse cryptocurrency markets, today announced a new strategic partnership with Babylon, a major blockchain project that designs security-sharing protocols for the decentralized economy. The new partnership leverages Bitcoin‘s formidable security to fortify the Portal Notary Chain, further cementing Portal’s position at the forefront of the world’s most secure decentralized exchange protocols.

“In the evolving landscape of cross-chain decentralized finance, the importance of trust and security cannot be overstated, especially in the realm of cross-chain decentralized exchanges where native Bitcoin support is absent from almost every DeFi application today,” said Chandra Duggirala, co-founder and CEO of Portal. “Through our collaboration with Babylon, the backbone of our bridgeless, cross-chain, decentralized exchange will integrate the robust protection layers inherent in Bitcoin‘s architecture. Babylon’s work in the timestamping and staking space, in particular, will bring more utility, accessibility and community to Bitcoin. This integration is not just an enhancement but a transformative step in redefining exchange protocol security.”

Portal is a builder of the foundational pieces of technology required for a trustless and inclusive economy. It offers an advanced technological infrastructure, improved systems for coordination and easy-to-use tools previously only available to large institutions and hedge funds. Its Portal DEX is the first Bitcoin-based exchange that enables Layer 2 atomic swaps of cryptocurrencies across blockchains without custodians, bridges, wrapped assets or other well-known sources of risk. It does this while providing greater speed, lower cost and a number of features that are as comprehensive as centralized exchanges.

“We’re excited to integrate our Bitcoin security sharing protocol with Portal, enabling a more robust and trustworthy DeFi environment,” said Fisher Yu, co-founder of Babylon. “In response to the rising demand for better security and reliability, especially following recent bridge hacks, we’re addressing major concerns directly, from custodial risks to enhancing native BTC support in DeFi. We’re setting new standards in DeFi security and reliability, backed by the robust and decentralized security of Bitcoin.”

Central to Portal’s Babylon integration is Babylon’s innovative use of the Bitcoin Timestamping Protocol, which enables the synchronization of timestamp events from various blockchains onto Bitcoin. Portal’s Validator Network acts as a decentralized exchange notary, where a dynamic array of validators oversees and authenticates all swaps, but without having custody of funds, within the Portal DEX Network. This process, coupled with the distribution of rewards to liquidity providers and stakers, exemplifies a novel use of Bitcoin‘s security in a Proof of Stake (PoS) network.

The Babylon integration also represents a significant advancement in stake unbonding times for Portal validators. Traditional PoS chains necessitate an extended “trust period” for staking, typically taking two to three weeks. With Babylon’s timestamping, the unbonding request confirmation can be accelerated, reducing the waiting period to approximately one day. This enhancement is vital for users to quickly identify and respond to potential attacks on chains.

About Babylon
Babylon is a blockchain project that designs security-sharing protocols for the decentralized economy. Founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu, the project is led by a team of consensus protocol researchers and experienced Layer 1 engineers from around the world. Babylon’s mission is to scale Bitcoin to secure the decentralized economy. To achieve this, Babylon utilizes the three primary facets of Bitcoin: its asset, its reliable timestamping service, and its most censorship-resistant blockspace in the world. To leverage these facets, Babylon is developing three innovative security-sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol. Through these pioneering protocols, Babylon envisions a more secure and decentralized future.

About Portal
Portal is a fintech provider advancing financial self-sovereignty with robust technology for secure and trust-minimized access to Bitcoin and diverse cryptocurrency markets. A builder of the foundational pieces of technology required for a trustless and inclusive economy, Portal offers an advanced technological infrastructure, improved systems for coordination and easy-to-use tools previously only available to large institutions and hedge funds. Portal enables individual investors to exchange digital assets across blockchain networks with greater efficiency and speed, lower costs, increased transparency and enhanced security and privacy. A pioneer and an advocate for free and unfettered markets, Portal was founded in 2019 and is based in the San Francisco Bay Area. Portal is backed by Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io and many other prominent fintech/crypto investors. For more information, visit https://portaldefi.com.

Media Contact

Michael Tebo, Gabriel Marketing Group, 571-835-8775, michaelt@gabrielmarketing.com 

View original content to download multimedia:https://www.prweb.com/releases/portal-announces-new-partnership-with-babylon-for-enhanced-bitcoin-security-302059604.html

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XPRIZE WATER SCARCITY COMPETITION LAUNCHES TO UNLOCK THE ABUNDANCE OF EARTH’S SEAS AND OCEANS

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The 5-year, $150M competition with a $119M prize purse is designed to create new desalination solutions that increase access to clean water globally 

ABU DHABI, UAE, March 1, 2024 /PRNewswire/ — XPRIZE, the world’s leader in designing and operating large-scale incentive competitions to solve humanity’s grand challenges, today launches XPRIZE Water Scarcity. Made possible by a $150M investment from the Mohamed bin Zayed Water Initiative, this 5-year global competition, with a $119M total prize purse, is designed to drive widespread access to clean water by creating reliable, sustainable, and affordable seawater desalination solutions. Competing teams will aim to develop technologies that can responsibly expand access to the water contained in Earth’s seas and oceans, positively impacting billions of people globally, and creating a world where clean water is more equitably available and sustainably abundant.

Water is essential for life on Earth. 70% of our planet is covered in water, yet virtually everyone on Earth is experiencing some form of water stress; right now, only 0.5% of our planet’s water is available to support 8 billion people. As our fresh water supplies are rapidly diminishing due to various factors, including climate change and the impact of agricultural and industrial uses, many major cities around the world are approaching “Day Zero,” the day their water supply is estimated to run out. As a result, populations face threats of stricter water rationing, sanitation and hygiene issues, environmental and economic damage, and conflict for resources.

With seas and oceans holding over 96% of Earth’s water, seawater desalination has become an increasingly attractive option for providing reliable access to water for countries and communities around the world. However, current desalination technologies lack the efficiency, affordability, and sustainability to generate clean water at the scale that will be required to address rapidly rising water scarcity around the globe. Current desalination plants also predominantly operate using fossil fuels and water treatment materials that raise sustainability concerns, while water intake and brine output processes can have a negative impact on vulnerable marine ecosystems.

“While a small number of countries are using advanced desalination solutions to supply their citizens with clean water, innovation in seawater desalination has been largely stagnant; current solutions remain too expensive and are not cost-effectively scalable to be able to meaningfully benefit the majority of the world,” said Anousheh Ansari, chief executive officer, XPRIZE. “The world needs a cutting-edge breakthrough to make desalination a more cost-effective and sustainable solution that could be adopted more widely around the world, enabling people and the environment to prosper.”

His Highness Sheikh Abdullah bin Zayed Al Nahyan, Chairman of the Mohamed bin Zayed Water Initiative, said: “Increasing water scarcity is a growing threat to global security and prosperity that demands a decisive and coordinated response from the international community. The establishment of XPRIZE Water Scarcity is consistent with the ambition of the Mohamed bin Zayed Water Initiative to raise the importance of water scarcity on the global agenda and to help accelerate the development and deployment of transformative new solutions to this urgent challenge.”

XPRIZE Water Scarcity is the first competition of its kind focused on disrupting desalination systems at this scale. The prize incentivizes competing teams to create new solutions that are measurably more affordable, reliable, environmentally sustainable, and resilient in a changing climate than existing methods. Teams will rethink desalination systems, methods, and materials to find ways of providing more safe, reliable, affordable and sustainable water in support of fast-growing population centers and other communities around the world.

“With global water demand projected to outstrip supply by 40% by 2030, the timeliness of this competition couldn’t be more crucial. We’re confident this prize will initiate a necessary step-change in desalination efforts to help address global water scarcity,” said Lauren Greenlee, executive vice president of Food + Water + Waste, XPRIZE. “We know that breakthroughs can come from anywhere, and by focusing on system-level innovation and flexible criteria alongside exploration of novel materials, our goal is to broaden inputs from a wide variety of fields and evaluate all possible solutions.”

“Desalination is poised for enormous growth in the 21st century as communities, industries, and countries diversify their water supplies and make their water systems more resilient against climate change,” said Dr. Peter S. Fiske, executive director, National Alliance for Water Innovation. “By attracting innovators from around the world to focus on making desalination more energy efficient, cost effective, and environmentally beneficial, I am optimistic that XPRIZE Water Scarcity will lead to a burst of innovation and cost reduction for this critical technology.”

“Sustainable and affordable desalination systems are crucial as we work toward securing sources of freshwater worldwide to offset global water scarcity,” said Shannon McCarthy, Secretary General, International Desalination and Reuse Association. “I’m confident the dynamic XPRIZE to address Water Scarcity will incentivize game-changing innovation in the desalination community and the breakthroughs we need to address the accelerating water challenges around the world, ensuring water for all.”

This multi-track competition centers around a core track to rethink the desalination system. The winning team will reliably and most sustainably generate one million liters of potable water per day (1,000 m3/d) from seawater at the lowest cost, below a target benchmark to ensure global accessibility, over the course of 1 year; sufficient to support 10,000 people (based on WHO Standards). The Novel Membrane Materials track will pursue the search for the perfect membrane to cut the cost of water production and increase reliability and sustainability, paving a future path to extend the lifetime of existing seawater reverse osmosis desalination plants.

The title sponsor of XPRIZE Water Scarcity is the Mohamed bin Zayed Water Initiative, which is dedicated to raising awareness of water scarcity and increasing its prioritization on the international agenda while accelerating the development, testing and deployment at scale of transformative and sustainable technological solutions to this global challenge.

Register to compete, learn more and get involved at xprize.org/water.

About XPRIZE

XPRIZE is an established global leader in designing, launching, and executing large-scale competitions to solve humanity’s greatest challenges. Our unique model democratizes innovation by incentivizing crowd-sourced, scientifically viable solutions to create a more equitable and abundant future for all. Donate, learn more, or join a team at xprize.org.   

About the Mohamed bin Zayed Water Initiative

The Mohamed bin Zayed Water Initiative (MBZWI) is committed to driving coordinated action to address the growing threat of global water scarcity. Founded by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, MBZWI seeks to raise awareness of water scarcity and increase its prioritisation on the global agenda, while harnessing the power of targeted investment, accelerated technological innovation and expanded international cooperation to overcome this challenge for the benefit of current and future generations.

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Experts in Tech and Politics Merge to Launch Needle PR: The Communications Agency that Makes A Point

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New agency applies cross-industry expertise to move the needle for companies, venture funds, and movements shaping our world

NEW YORK, March 1, 2024 /PRNewswire-PRWeb/ — Needle, the communications agency that makes a point, announced its launch today.

We’re maximizing our clients’ relevance and reputation at a time when attention is hard to capture. That’s why our guiding principle is ‘make a point’ – we get to the heart of why you matter.

Co-founders Tess Pawlisch and Margaret Huang bring decades of communications expertise to the firm from global and boutique PR agencies, in-house communications roles, and political campaigns. Needle will focus on finding the common thread that connects clients to stories that matter and advance their goals. Clients benefit from tailored programs designed to fit their stage and business objectives, along with Needle’s unique understanding of the current economic, social, and political climate.

Tess Pawlisch, Co-founder and Chief Executive Officer, has devoted her 15+ year career to promoting values-driven brands and underrepresented voices from Washington, D.C. to Silicon Valley. Most recently, Tess was the Director of Business Development at The Key, a San Francisco-based tech PR firm. During her tenure, she forged relationships with venture capital funds, tech startups, and social impact organizations, drove the agency’s new business efforts, and led account teams in artificial intelligence, climate, financial services, healthcare, and more. Prior to working in tech public relations, Tess led fundraising and communication programs for non-profits, philanthropic organizations, and campaigns to help elect presidents, governors, attorneys general, senators, supreme court justices, congresspeople, state legislative leaders, and mayors.

Joining Tess is tech PR veteran Margaret Huang, Needle’s Chief Strategy Officer. Margaret’s expertise spans decades and industries, from consumer lifestyle brands to transformative technology companies, from the early dotcom days to Web3. Her client experience ranges from retail giants The North Face and Nordstrom to tech pioneers HP, LinkedIn, and Mint, to blockchain leader Algorand. She is a trusted advisor to founders, venture capitalists, C-suite executives, and journalists alike, and a big-picture thinker who elevates communications strategies.

“We love working with founders and companies to define their brands and narrative, and ultimately inspire action,” said Huang. “We’re maximizing their relevance and reputation at a time when attention is hard to capture. That’s why our guiding principle is ‘make a point’ – we get to the heart of why you matter.”

Services + Clients

Needle provides a full range of services from communications strategy and media relations to content development and thought leadership.

“Our clients are fundamentally changing the way entire systems and industries operate,” said Pawlisch. “They are making our world more inclusive, sustainable, and equitable, and we look forward to growing alongside them.”

The agency launches with a strong roster across industries — artificial intelligence, consumer technology, climate, healthcare, political advocacy, and venture capital — including:

Algorand Foundation, a not-for-profit organization empowering a dynamic, inclusive, and borderless global ecosystem based on the Algorand blockchain technology.Amulet, a company shining a light on invisible threats in our food system with two core brands:Allergy Amulet helps consumers determine whether their foods are safe by detecting potentially life-threatening allergenic ingredients.Amulet Scientific equips businesses and manufacturers with tools to help ensure the safety of their food supply chain.Arrive Recommerce, the industry leader powering sustainable and profitable resale.EnsoData, a waveform AI healthcare technology company streamlining clinical workflows from diagnosis to therapy, starting in sleep.Float, the marketplace moving all the care that doesn’t need a hospital to the home.Necessary Ventures, a venture capital firm investing in companies building what the world needs.Parfin, a fintech company providing secure digital asset custody, trading, and management through blockchain infrastructure.Pyrium, a modern-day investment platform addressing generational wealth gaps by allowing anyone to invest in high-growth companies.Rubi Laboratories, a startup turning industrial CO₂ emissions into cellulosic textiles to replace trees as an input in man-made cellulosic fibers (MMCFs).Run the World, a boutique non-profit and political consulting firm.

“Necessary runs a lean team, like most venture firms. As a result, we’re always looking for ways to help founders succeed that are both scalable and effective,” said Neil Devani, founder and managing partner of Necessary Ventures. “Needle has helped the firm build its reputation as a trusted partner and resource to founders. The results that their team has brought to our portfolio companies have supported hiring, fundraising, and growth.”

About Needle

Needle is the communications agency that makes a point. We build programs that move the needle for companies, venture funds, and movements shaping our world. Applying our cross-industry expertise, we elevate clients who are changing how we live, work, and connect. Designed to scale, Needle’s programs are tailored to grow with our clients and advance their business. Needle is based in New York and California. Learn more at needlepr.com.

Media Contact

Margaret Huang, Needle PR, 1 4158671626, margaret@needlepr.com, www.needlepr.com

View original content to download multimedia:https://www.prweb.com/releases/experts-in-tech-and-politics-merge-to-launch-needle-pr-the-communications-agency-that-makes-a-point-302075598.html

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With a Two-Year Revenue Growth of 98% Würk Ranks No. 49 on Inc. Magazine’s List of the Rocky Mountain Region’s Fastest-Growing Private Companies

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Companies on the 2024 Inc. 5000 Regionals: Rocky Mountain list had an average growth rate of 122.44 percent.  

DENVER, March 1, 2024 /PRNewswire/ — Inc. magazine today revealed that Würk is No. 49 on its fourth annual Inc. 5000 Regionals: Rocky Mountain list, the most prestigious ranking of the fastest-growing Rocky Mountain private companies, based in Montana, Idaho, Wyoming, Nevada, Utah, and Colorado. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Rocky Mountain economy’s most dynamic segment–its independent small businesses.

“This recognition as No. 49 on the prestigious Inc. 5000 Regionals: Rocky Mountain list is a testament to the hard work and vision of every member of the Würk family,” said Deborah Saneman, CEO of Würk. “As we continue to push boundaries and shape the future of the cannabis industry, we remain steadfast in our mission to redefine excellence and leave a lasting impact on the world around us.”

The companies on this list show a remarkable rate of growth across all industries in the Rocky Mountain region. Between 2020 and 2022, these 72 private companies had an average growth rate of 122.44 percent; by 2023, they’d also added 3,838 jobs and $1.7 billion to the region’s economy.    

Complete results of the Inc. 5000 Regionals: Rocky Mountain, including company profiles, can be found at inc.com/RockyMountain starting February 27, 2024. You’ll also find an interactive database that can be sorted by industry, metro area, and other criteria.

“The honorees in our Inc. 5000 network are the Who’s Who of private companies. They’re energizing regional economies as they engineer the future of their industries. Learn who they are and what they do — they’ll be impacting things for a while,” said Eric Hagerman, Special Projects Editor at Inc. Media.

About Würk
Würk allows cannabis companies to manage payroll, human resources, timekeeping, scheduling and tax compliance, and minimizes compliance risks in the ever-changing cannabis regulatory environment. The company uses its expertise and trusted partnerships to provide guidance on 280E tax law, accounting and compliant banking. Its platform is designed to scale nationally with the growth of the industry, while incorporating the local laws and regulations unique to individual states. Würk is the first payroll provider, and only the third company in the cannabis technology industry, to complete a System and Organization Controls (SOC) 1 Type 2 Audit of systematic controls by a third party CPA firm. For more information visit enjoyWurk.com.

Media Contact
MATTIO Communications
wurk@mattio.com

More about Inc. and the Inc. 5000 Regionals

Methodology
The 2024 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2020 and 2022. To qualify, companies must have been founded and generating revenue by March 31, 2020. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2022 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.  

About Inc. Media  
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.

The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com

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