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NoneShare Tweet Share Share Email Blockchain has emerged as a transformative force across various industries. One of its most promising applications is property deed verification, which plays a crucial role in securing ownership records. Property ownership verification ensures transparency, reduces fraud, and streamlines real estate transactions. Traditionally, people have verified property deeds using manual, paper-based systems. These systems are often time-consuming, prone to errors, and vulnerable to fraud. However, blockchain technology provides a secure, immutable, and efficient alternative, transforming the way people record and validate property ownership. Understanding Blockchain Technology Blockchain operates as a decentralized, distributed ledger technology that enables secure and transparent record-keeping. It stores information across a network of computers, ensuring that no single entity controls the data. Each piece of information, or “block,” links to the previous one, forming a continuous chain. Once someone records data on a blockchain , it cannot be altered or tampered with without the consensus of the network participants, making blockchain highly secure and resistant to fraud. The key features of blockchain technology include: Decentralization: No central authority controls the blockchain, reducing the risk of manipulation and fraud. Immutability: Once data is recorded, it cannot be changed or deleted, ensuring the integrity of property records. Transparency: All participants in the blockchain network can access and verify the data, fostering trust and accountability. These characteristics make blockchain an ideal solution for property deed verification, offering a new way to secure ownership records while minimizing the risks associated with traditional methods. The Challenges of Traditional Property Deed Verification Before diving into how blockchain can revolutionize property deed verification, it’s essential to understand the challenges of traditional systems. Real estate transactions have long been plagued by issues such as: Fraud and Forgery: Property deed fraud is a significant concern. Fraudulent activities, such as forging signatures or falsifying property titles, can result in legal disputes and financial losses. Inefficiency: Manual, paper-based systems are slow and prone to errors. Property records are often stored in multiple locations, leading to delays in verifying ownership and transferring properties. Lack of Transparency: Traditional systems can be opaque, making it difficult for buyers, sellers, and other stakeholders to verify the authenticity of property deeds and ownership records. Data Security Risks: Physical property records are vulnerable to theft, natural disasters, and other unforeseen events that can result in the loss or destruction of vital ownership documents. Blockchain addresses these challenges by providing a digital, secure, and transparent method for verifying property deeds. How Blockchain Revolutionizes Property Deed Verification Blockchain technology has the potential to completely overhaul the property deed verification process. By digitizing and decentralizing ownership records, blockchain ensures that property deeds are secure, tamper-proof, and easily accessible. Here’s how it works: Digitization of Property Deeds In a blockchain-based property deed verification system, property deeds are digitized and stored as electronic records on the blockchain. These digital records contain essential details such as the property’s legal description, the owner’s information, and the transaction history. Each deed is associated with a unique identifier, making it easy to track and verify. Immutable Records Once a property deed is recorded on the blockchain, it becomes immutable. This means that no one can alter or delete the information without the consensus of the network participants. This feature eliminates the possibility of forgery or tampering, ensuring that ownership records are accurate and reliable. Decentralized Ownership Verification Blockchain’s decentralized nature ensures that property ownership is verified by a distributed network of participants, rather than relying on a central authority. This reduces the risk of fraud and manipulation by providing an additional layer of security. Each participant in the network has access to the same data, which enhances transparency and trust. Smart Contracts for Property Transactions Smart contracts are self-executing agreements with the terms written directly into code. They can streamline the property transaction process by automating various aspects, such as transferring ownership and releasing payments. In a blockchain-based system, smart contracts remove the need for intermediaries and ensure that transactions complete securely and on time . Real-Time Access to Ownership Records One of the biggest advantages of blockchain for property deed verification is its ability to provide real-time access to ownership records. In a blockchain-based system, everyone involved in the transaction—whether a buyer, seller, or legal professional—can access the most up-to-date and accurate information about the property. This feature eliminates delays caused by waiting for physical records or manual verification. Benefits of Blockchain for Property Deed Verification Enhanced Security Blockchain’s encryption and decentralization make it highly secure. Storing property deeds on a blockchain significantly reduces the risk of data breaches, unauthorized access, or alterations. The immutability of blockchain records guarantees that once someone records a property deed, no one can tamper with it, providing an added layer of protection against fraud. Increased Transparency With blockchain, all participants in the network can access the same information, ensuring that property ownership records are transparent and easily verifiable. Buyers can check the history of a property, confirming its ownership and any past transactions, without relying on third parties or intermediaries. This fosters trust and confidence in the real estate market. Faster Transactions Traditional property transactions can take weeks or even months to complete, primarily due to the time it takes to verify ownership records and transfer documents. Blockchain speeds up this process by automating many aspects of the transaction, including deed verification and transfer of ownership. This significantly reduces the time and cost involved in property deals. Cost Savings By eliminating the need for paper-based records, manual verification, and intermediaries, blockchain can reduce transaction costs. Property buyers and sellers no longer need to pay for title searches, notary fees, or other administrative costs associated with traditional deed verification processes. Smart contracts further reduce the need for middlemen, such as lawyers and real estate agents, allowing parties to conduct transactions directly with one another. Reduced Risk of Fraud Property fraud is a significant issue in real estate, with fraudulent deeds and forged signatures causing major problems for buyers and sellers alike. Blockchain’s immutability and decentralized nature make it nearly impossible for anyone to alter property records or create false deeds. The Future of Blockchain in Property Deed Verification While blockchain is still in the early stages of adoption in the real estate sector, its potential to transform property deed verification is undeniable. Governments and private companies around the world are exploring ways to implement blockchain solutions for land registries and property transactions. Several countries, including Sweden, Georgia, and the United Arab Emirates, have already begun testing blockchain-based property registries, paving the way for broader adoption. As blockchain technology continues to mature, it is likely that more jurisdictions will embrace it as a means of securing property deeds and streamlining real estate transactions. In the future, blockchain could become the standard for property deed verification, offering a faster, more secure, and more efficient alternative to traditional systems. Conclusion Blockchain technology is revolutionizing the way property deeds are verified, offering a secure, transparent, and efficient solution to the challenges of traditional real estate systems. By digitizing ownership records, providing immutable verification, and automating transactions through smart contracts, blockchain has the potential to significantly reduce fraud, enhance security, and speed up property transactions. As the technology continues to gain traction, it could transform the real estate industry , making property ownership verification more accessible and trustworthy than ever before. Related Items: Blockchain Technology , Property Deed Verification , Securing Ownership Records Share Tweet Share Share Email Recommended for you Digital Brokers & Marketplaces: Simplifying Insurance Choices for Consumers Tokenized Commodities: Investing in Oil, Gold, Natural Gas, and More Tokenization of Real-World Assets: Bringing Physical Assets to the Blockchain Comments
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In response to fraud-related losses in the hundreds of millions, Hamburg-based copper producer Aurubis is undergoing significant leadership changes. On Monday evening, the company confirmed that three out of four executive board members , including CEO Roland Harings , will step down. This move follows “advanced talks” with the supervisory board about terminating their positions. Harings, along with CFO Rainer Verhoeven and Chief Production Officer Heiko Arnold , will leave the executive board by February, June, and September of next year, respectively. Despite the impending departures, Aurubis stated that these executives will continue fulfilling their duties until their exit dates. The supervisory board initiated an investigation into the leadership’s role in connection with multiple cases of fraud and theft that caused significant financial damage. These incidents included a €169 million shortfall in metal stock discovered during regular checks, resulting in manipulated samples and over-invoicing. As a result, the company reported a 33% drop in earnings before interest and taxes (EBT) to €349 million for the fiscal year 2022-23, with revenue falling nearly 8% to €17.1 billion. Despite these challenges, Harings emphasized that security measures have since been strengthened to prevent future incidents. A final decision on the leadership changes is expected to be made by the supervisory board on Tuesday.NoneMUMBAI: Investigations by the cyber crime branch of the Mumbai police into the data leak at HDFC Life Insurance Company Ltd has revealed that the e-mails and messages threatening to leak their customer data, had been sent from Thailand. The police said they have identified the Internet Protocol (IP) address of the sender and will soon send a Letter Rogatory (LR), requesting assistance from Thai authorities. “When we wrote to various agencies to get details of the senders, we learnt that the data was downloaded in Thailand. The emails and messages, too, were sent from that country,” said a police officer. “We have narrowed down on the Internet Protocol (IP) address of the sender and will soon issue a Letter Rogatory (LR) seeking co-operation from Thai authorities to get more details about the accused.” The case was registered on November 21, under sections 308(3) (extortion) and 351 (4) (criminal intimidation) of the Bharatiya Nyaya Sanhita, 2023, and relevant sections of the Information Technology Act, 2000, after HDFC Life Insurance Company Ltd lodged a complaint, claiming unknown cyber frauds had stolen their customer data and were demanding money by threatening to leak the same. “On November19, the company received e-mails stating that the company’s customer data had been breached. The sender gave two days to contact him for negotiations, threatening to sell the data if the company failed to do so,” said a police officer. “Details of 99 customers were attached to the mails. The leaked data contained names, policy numbers, addresses, and mobile numbers of customers.” The company received more mails and messages on November 20 and 21. One such message read: “If you choose to negotiate, it goes without saying that this will prevent you from suffering losses of hundreds of billions of rupees in terms of customer data leakage, reputation, stock market and regulatory pressure.” After the company confirmed with the help of experts that the sender was a hacker and was trying to blackmail the company, it decided to approach the police and, also, inform the regulatory authorities. In a disclosure to the stock exchanges, the company wrote: “We wish to inform that we have received communication from an unknown source, who has shared certain data fields of our customers with us, with malafide intent. We value the data privacy of our customers and, as an immediate measure, we have initiated an information security assessment and data log analysis. A detailed investigation is underway in consultation with information security experts to assess the root cause and take remedial action, as necessary.”
Robinhood Markets, Inc. Reports November 2024 Operating Data
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Florida State made official on Monday the hiring of Gus Malzahn as offensive coordinator, confirming weekend reports that he would resign as UCF head coach to reunite with Seminoles coach Mike Norvell. UCF had confirmed on Sunday reports of Malzahn's exit but not his destination, and FSU had not made an announcement until Monday afternoon. "I am excited to be here at Florida State and to help us win championships," Malzahn said in a statement. "It's exciting to work with Coach Norvell, who is someone I believe in as a coach and leader." Norvell, who served as a graduate assistant under Malzahn at Tulsa in 2007-08, said on Saturday night after the Seminoles' 31-11 loss to Florida that he could not identify the new offensive coordinator until the hiring process was finalized. Florida State, which is 2-10 overall and 1-7 in the Atlantic Coast Conference, is ranked No. 132 of 133 FBS programs in total offense (270.2 yards per game). The Seminoles are 130th in the nation in scoring offense (15.4 points per game). Norvell shook up his staff, including firing offensive coordinator/offensive line coach Alex Atkins on Nov. 10 after a 52-3 defeat at Notre Dame. "I'm extremely excited to have Gus Malzahn join our staff at Florida State," Norvell said in the school's statement on Monday. "He has one of the most innovative minds in college football and a proven track record of developing elite offenses everywhere he's been. "His offenses have consistently showcased a tremendous running game combined with explosive plays through the air. I'm thrilled to work side-by-side with Gus again as we elevate the Florida State offense back to one of the elite groups in college football." UCF also endured a tough 2024 season, going 4-8 after losing eight of its last nine games. During Malzahn's four-year tenure, the Knights went 28-24, including 5-13 in the Big 12 Conference the last two seasons. Malzahn, 59, is 105-62 in 13 seasons as a college head coach, highlighted by a 68-35 mark in eight seasons at Auburn -- which included a BCS title game appearance in 2013. He served as offensive coordinator and play caller when the Tigers won the national title in 2010. Malzahn will be tasked with revitalizing a Florida State offense that helped produce a 13-1 campaign in 2023, when the Seminoles were denied a spot in the College Football Playoff. Over the last three seasons at UCF, his rushing attack has been in the Top 10 in the nation. In his 19 seasons as a college head coach or offensive coordinator, Malzahn's teams have averaged 447.7 yards per game, and three of his teams eclipsed 7,000 yards in a season. --Field Level MediaSouthfield, Michigan, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the Best Places to Work in IT by Computerworld for the 10th year. Credit Acceptance ranked #8 among midsize companies. This award recognizes companies with comprehensive tech-led strategies that foster an inclusive, supportive, and growth-oriented workplace. “Our Engineering team continues to be at the forefront of many key initiatives. Together, team members have shown incredible effort, dedication, and collaboration while driving change to modernize the way we work,” said Ravi Mohan, Chief Technology Officer. “As we strengthen our foundational technologies, maximize the use of automation, and bring new ideas to life, we are providing value to our customers faster and fueling business growth in service of our mission to make car ownership possible for everyone.” The contributions of Credit Acceptance’s Engineering team are deeply embedded in the Company’s focus on collaboration and day-to-day improvements that benefit everyone we serve. One example of this is the “Test Drive” program, which provides potential dealers firsthand experience with Credit Acceptance’s software, boosting dealer engagement, and expanding reach across communities. Additionally, the team continues to innovate in support of the Company’s remote-first working environment, bringing new tools and technologies forward to better enable the productivity of team members. Credit Acceptance is consistently recognized as one of the best places to work by team members. This year, the Company has received four honors from Great Place to Work® and Fortune : we have been ranked 39th in the 100 Best Companies to Work For® (the tenth time we have been included on this list), 29th in Best Workplaces for Women (the sixth time we’ve been included), 50th in the Best Workplaces for Millennials (the eighth time we have been included), and 13th in the 2024 Best Workplaces in Financial Services & Insurance (the tenth time we have been included). In addition, Credit Acceptance has been named a Top Workplaces USA award winner for the fourth consecutive year, a Most Loved Workplace® for 2024 in several categories by the Best Practice Institute, and a Newsweek America’s Top 200 Most Loved Workplace® for 2024, among many others. About Credit Acceptance We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles, or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit creditacceptance.com . About Computerworld Computerworld is the leading technology media brand empowering enterprise users and their managers, helping them create business advantage by skillfully exploiting today's abundantly powerful web, mobile and desktop applications. Computerworld also offers guidance to IT managers tasked with optimizing client systems—and helps businesses revolutionize the customer and employee experience with new collaboration platforms. Computerworld's award-winning website ( www.computerworld.com ), strategic marketing solutions and research forms the hub of the world's largest global IT media network and provides opportunities for IT vendors to engage this audience. Computerworld is published by Foundry. Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com
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Liberty Media Acquisition (OTCMKTS:LMACU) Stock Price Up 0.3% – What’s Next?( MENAFN - GlobeNewsWire - Nasdaq) Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Dec. 02, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the“Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the pricing of its offering of $850 million aggregate principal amount of 0.00% convertible senior notes due 2031 (the“notes”). The notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the“Securities Act”). MARA also granted to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $150 million aggregate principal amount of the notes. The offering is expected to close on December 4, 2024, subject to satisfaction of customary closing conditions. The notes will be unsecured, senior obligations of MARA. The notes will not bear regular interest, and the principal amount of the notes will not accrete. MARA may pay special interest, if any, at its election as the sole remedy for failure to comply with its reporting obligations and under certain other circumstances, each pursuant to the indenture. Special interest, if any, on the notes will be payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2025 (if and to the extent that special interest is then payable on the notes). The notes will mature on June 1, 2031, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after June 5, 2029, MARA may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of MARA common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on, and including, the trading day immediately before the date MARA provides the notice of redemption. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of notes may require MARA to repurchase for cash all or any portion of their notes on June 4, 2027 and on June 4, 2029 or upon the occurrence of certain events that constitute a fundamental change under the indenture governing the notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the date of repurchase. In connection with certain corporate events or if MARA calls any note for redemption, it will, under certain circumstances, be required to increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or notice of redemption. The notes will be convertible into cash, shares of MARA's common stock, or a combination of cash and shares of MARA's common stock, at MARA's election. Prior to March 1, 2031, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The conversion rate for the notes will initially be 28.9159 shares of MARA common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $34.5831 per share. The initial conversion price of the notes represents a premium of approximately 40.0% over the U.S. composite volume weighted average price of MARA's common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on Monday, December 2, 2024, which was $24.7022. The conversion rate will be subject to adjustment upon the occurrence of certain events. MARA estimates that the net proceeds from the sale of the notes will be approximately $835.1 million (or approximately $982.5 million if the initial purchasers exercise in full their option to purchase additional notes), after deducting the initial purchasers' discounts and commissions but before estimated offering expenses payable by MARA. MARA expects to use approximately $48 million of the net proceeds from the sale of the notes to repurchase approximately $51 million in aggregate principal amount of its existing convertible notes due 2026 (the“existing 2026 convertible notes”) in privately negotiated transactions with the remainder of the net proceeds to be used to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations. In connection with any repurchase of the existing 2026 convertible notes, MARA expects that holders of the existing 2026 convertible notes who agree to have their notes repurchased and who have hedged their equity price risk with respect to such notes (the“hedged holders”) will unwind all or part of their hedge positions by buying MARA's common stock and/or entering into or unwinding various derivative transactions with respect to MARA's common stock. The amount of MARA's common stock to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historic average daily trading volume of MARA's common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of MARA's common stock, including concurrently with the pricing of the notes, resulting in a higher effective conversion price of the notes. MARA cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or MARA's common stock. The notes are being offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MARA's common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The offering of the notes is being made only by means of a private offering memorandum. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Nothing in this press release shall be deemed an offer to purchase MARA's existing 2026 convertible notes. About MARA MARA (NASDAQ:MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world's preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute“forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the estimated net proceeds of the offering, the anticipated use of such net proceeds, and the anticipated closing of the offering. The words“anticipate,”“believe,”“continue,”“could,”“estimate,”“expect,”“intend,”“may,”“plan,”“potential,”“predict,”“project,”“should,”“target,”“will,”“would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions and the completion of the offering, uncertainties related to the satisfaction of closing conditions for the sale of the notes, the other factors discussed in the“Risk Factors” section of MARA's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the“SEC”) on February 28, 2024, as amended on May 24, 2024, the“Risk Factors” section of MARA's Quarterly Report on Form 10-Q filed with the SEC on August 1, 2024, the“Risk Factors” section of MARA's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2024 and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. MARA Company Contact: Telephone: 800-804-1690 Email: ... MENAFN02122024004107003653ID1108948867 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.