Image Credit: Duncan Rawlinson (Flickr)

The Metaverse is Money and Crypto is King – Why You’ll be on a Blockchain When Your Virtual-World is Hopping

 

You may think the metaverse will be a bunch of interconnected virtual spaces – the world wide web but accessed through virtual reality. This is largely correct, but there is also a fundamental but slightly more cryptic side to the metaverse that will set it apart from today’s internet: the blockchain.

In the beginning, Web 1.0 was the information superhighway of connected computers and servers that you could search, explore, and inhabit, usually through a centralized company’s platform – for example, AOL, Yahoo, Microsoft and Google. Around the turn of the millennium, Web 2.0 came to be characterized by social networking sites, blogging and the monetization of user data for advertising by the centralized gatekeepers to “free” social media platforms, including Facebook, SnapChat, Twitter and TikTok.

Web 3.0 will be the foundation for the metaverse. It will consist of blockchain-enabled decentralized applications that support an economy of user-owned crypto assets and data.

Blockchain? Decentralized? Crypto-assets? As researchers who study social media and media technology, we can explain the technology that will make the metaverse possible.

Owning Bits

Blockchain is a technology that permanently records transactions, typically in a decentralized and public database called a ledger. Bitcoin is the most well-known blockchain-based cryptocurrency. Every time you buy some bitcoin, for example, that transaction gets recorded to the Bitcoin blockchain, which means the record is distributed to thousands of individual computers around the world.

This decentralized recording system is very difficult to fool or control. Public blockchains, like Bitcoin and Ethereum, are also transparent – all transactions are available for anyone on the internet to see, in contrast to traditional banking books.

Ethereum is a blockchain like Bitcoin, but Ethereum is also programmable through smart contracts, which are essentially blockchain-based software routines that run automatically when some condition is met. For example, you could use a smart contract on the blockchain to establish your ownership of a digital object, such as a piece of art or music, to which no one else can claim ownership on the blockchain — even if they save a copy to their computer. Digital objects that can be owned – currencies, securities, artwork – are crypto assets.

Items like artwork and music on a blockchain are nonfungible tokens (NFTs). Nonfungible means they are unique and not replaceable, the opposite of fungible items like currency – any dollar is worth the same as, and can be swapped with, any other dollar.

Importantly, you could use a smart contract that says you are willing to sell your piece of digital art for US$1 million in ether, the currency of the Ethereum blockchain. When I click “agree,” the artwork and the ether automatically transfer ownership between us on the blockchain. There is no need for a bank or third-party escrow, and if either of us were to dispute this transaction – for example, if you claimed that I only paid $999,000 – the other could easily point to the public record in the distributed ledger.

What does this blockchain crypto-asset stuff have to do with the metaverse? Everything! To start, the blockchain allows you to own digital goods in a virtual world. You won’t just own that NFT in the real world, you’ll own it in the virtual world, too.

In addition, the metaverse isn’t being built by any one group or company. Different groups will build different virtual worlds, and in the future these worlds will be interoperable – forming the metaverse. As people move between virtual worlds – say from Decentraland’s virtual environments to Microsoft’s – they’ll want to bring their stuff with them. If two virtual worlds are interoperable, the blockchain will authenticate proof of ownership of your digital goods in both virtual worlds. Essentially, as long as you are able to access your crypto wallet within a virtual world, you will be able to access your crypto stuff.

 

Don’t Forget Your Wallet

So what will you keep in your crypto wallet? You will obviously want to carry cryptocurrencies in the metaverse. Your crypto wallet will also hold your metaverse-only digital goods, such as your avatars, avatar clothing, avatar animations, virtual decorations, and weapons.

Avatars, like this representation of El Salvador President Nayib Bukele, are cartoonlike animations that people inhabit in the metaverse. AP Photo/Salvador Melendez

What will people do with their crypto wallets? Among other things, shop. Just as you likely do on the web now, you will be able to purchase traditional digital goods like music, movies, games, and apps. You’ll also be able to buy physical-world items in the metaverse, and you’ll be able to view and “hold” 3D models of what you are shopping for, which could help you make more informed decisions.

Also, just like you can use ye old leather wallet to carry your ID, crypto wallets will be linkable to real-world identities, which could help facilitate transactions that require legal verification, such as buying a real-world car or home. Because your ID will be linked to your wallet, you won’t need to remember login information for all the websites and virtual worlds that you visit – just connect your wallet with a click and you are logged in. ID-associated wallets will also be useful for controlling access to age-restricted areas in the metaverse.

Your crypto wallet could also be linked to your contacts list, which would allow you to bring your social network information from one virtual world to another. “Join me for a pool party in FILL IN THE BLANK-world!”

 

 

At some point in the future, wallets could also be associated with reputation scores that determine the permissions you have to broadcast in public places and interact with people outside of your social network. If you act like a toxic misinformation-spreading troll, you may damage your reputation and potentially have your sphere of influence reduced by the system. This could create an incentive for people to behave well in the metaverse, but platform developers will have to prioritize these systems.

 

Big Business

Lastly, if the metaverse is money, then companies will certainly want to play too. The decentralized nature of blockchain will potentially reduce the need for gatekeepers in financial transactions, but companies will still have many opportunities to generate revenue, possibly even more than in current economies. Companies like Meta will provide large platforms where people will work, play, and congregate.

The full metaverse doesn’t exist yet, but that hasn’t stopped a land rush as people and businesses grab virtual real estate.

Major brands are also getting into the NFT mix, including Dolce & Gabbana, Coca-Cola (COKE), Adidas (ADDYY) and Nike (NKE). In the future, when you buy a physical world item from a company, you might also gain ownership of a linked NFT in the metaverse.

For example, when you buy that coveted name-brand outfit to wear to the real-world dance club, you might also become the owner of the crypto version of the outfit that your avatar can wear to the virtual Ariana Grande concert. And just as you could sell the physical outfit secondhand, you could also sell the NFT version for someone else’s avatar to wear.

These are a few of the many ways that metaverse business models will likely overlap with the physical world. Such examples will get more complex as augmented reality technologies increasingly come into play, further merging aspects of the metaverse and physical world. Although the metaverse proper isn’t here yet, technological foundations like blockchain and crypto assets are steadily being developed, setting the stage for a seemingly ubiquitous virtual future that is coming soon to a ‘verse near you.

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and opinions of Rabindra Ratan Associate Professor of Media and Information, Michigan State University. Dar Meshi Assistant Professor of Communication Arts and Sciences, Michigan State University.

 

Suggested Reading:

Why the Metaverse Matters

Companies are Choosing the Metaverse for their Business Address

NFT Fractional Ownership and Metaverse Museums

Blockchain 2022 – What’s Next?

 

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Voyager Digital Announces Key Hire as it Expands Crypto Payment Solutions in the US

 

Research, News, and Market Data on Voyager Digital

 

Tim Mund joins as Head of US Payment Sales

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQB: VYGVF; FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, is pleased to announce Tim Mund has joined the Company as Head Of US Payment Sales.
 
In the newly-created role of Head of US Payment Sales, Tim will be responsible for the sales and go-to-market strategy for Voyager’s payment solutions and for building the customer pipeline with payment service providers (PSPs) and key merchants to integrate Voyager’s technology with their payment networks and systems.
 
“Voyager’s recent acquisition of Coinify enables consumers to transact using cryptocurrencies with fiat settlement,“ said Steve Ehrlich, CEO and co-founder of Voyager. “With the addition of a top sales executive like Tim, we are positioned to expand our payments product line in the US and help PSPs accept crypto, reduce transaction costs, and increase efficiency across the entire payment chain, adding significant value for merchant and end user buyers.”
 
“I’ve been following Voyager’s growth since the beginning and am excited to lead the integration of Voyager’s technology into the payment service provider networks.  I believe that owners of cryptocurrency around the world will be able to make everyday purchases from groceries and shoes, to cars and airline tickets,” stated Tim Mund. “Merchants will be able to tap into crypto assets to grow revenue.  I’m excited to be part of the Voyager leadership team to help bring in the next generation of financial services and crypto for all.”
 
Tim Mund spent the last 20 years in enterprise sales and leadership roles at fintech and communications firms such as Recognia, Kinetix, 29West, CenturyLink and RingCentral.

About Voyager Digital Ltd.

Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visithttps://www.investvoyager.com.

The TSX has not approved or disapproved of the information contained herein.

SOURCE Voyager Digital, Ltd.

Press Contacts

Voyager Digital, Ltd.

Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com

Voyager Digital Announces Key Hire as it Expands Crypto Payment Solutions in the US

 

Research, News, and Market Data on Voyager Digital

 

Tim Mund joins as Head of US Payment Sales

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQB: VYGVF; FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, is pleased to announce Tim Mund has joined the Company as Head Of US Payment Sales.
 
In the newly-created role of Head of US Payment Sales, Tim will be responsible for the sales and go-to-market strategy for Voyager’s payment solutions and for building the customer pipeline with payment service providers (PSPs) and key merchants to integrate Voyager’s technology with their payment networks and systems.
 
“Voyager’s recent acquisition of Coinify enables consumers to transact using cryptocurrencies with fiat settlement,“ said Steve Ehrlich, CEO and co-founder of Voyager. “With the addition of a top sales executive like Tim, we are positioned to expand our payments product line in the US and help PSPs accept crypto, reduce transaction costs, and increase efficiency across the entire payment chain, adding significant value for merchant and end user buyers.”
 
“I’ve been following Voyager’s growth since the beginning and am excited to lead the integration of Voyager’s technology into the payment service provider networks.  I believe that owners of cryptocurrency around the world will be able to make everyday purchases from groceries and shoes, to cars and airline tickets,” stated Tim Mund. “Merchants will be able to tap into crypto assets to grow revenue.  I’m excited to be part of the Voyager leadership team to help bring in the next generation of financial services and crypto for all.”
 
Tim Mund spent the last 20 years in enterprise sales and leadership roles at fintech and communications firms such as Recognia, Kinetix, 29West, CenturyLink and RingCentral.

About Voyager Digital Ltd.

Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visithttps://www.investvoyager.com.

The TSX has not approved or disapproved of the information contained herein.

SOURCE Voyager Digital, Ltd.

Press Contacts

Voyager Digital, Ltd.

Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com

	Image Credit: Z z (Pexels)

What is 5G? An Electrical Engineer Explains

 

5G has been in the news recently as the FAA has asked cellular phone companies to alter their plans to roll out the upgraded communication technology. We’ve all heard the term, and we’re told we should be looking forward to it becoming broadly available. But what is it exactly, and how does it compare to the current 4G most of us now rely on. What follows is a short read that defines 5G and its complexity and capabilities in easy-to-understand language. It was written by Prasenjit Mitra, Professor of Information Sciences and Technology, Penn State.

 

5G stands for fifth-generation cellular network technology.

It’s the technology that enables wireless communication – for example, from your cellular phone to a cell tower, which channels it to the internet. 5G is a network service provided by telecommunications carriers and is not the same thing as the 5 GHz band on your Wi-Fi router.

5G offers an order of magnitude – 10 times – more bandwidth than its predecessor, 4G. The greater bandwidth is possible because over and above low and medium frequency radio waves, 5G uses additional higher-frequency waves to encode and carry information.

Bandwidth is analogous to the width of a highway. The broader the highway, the more lanes it can have and the more cars it can carry at the same time. This makes 5G much faster and able to handle many more devices.

5G can deliver speeds of around 50 megabits per second, up to more than 1 gigabit per second. A gigabit per second connection allows you to download a high-definition movie in less than a minute. Does this mean no more bad cell connections in crowded places? The increased bandwidth will help, but just as increasing the number of lanes on highways does not always reduce traffic jams, as more people use the expanded highways, 5G is likely to carry a lot more traffic than 4G networks, so you still might not get a good connection sometimes.

In addition to connecting your phone and cellular-enabled laptop, 5G will be connecting many other devices ranging from photo frames to toasters as part of the Internet of Things revolution. So even though 5G can handle up to a million devices per square kilometer, all that bandwidth could be quickly used up and require more – a future 5.5G with even more bandwidth.

Flavors
of 5G

5G can use low-, mid-and high-band frequencies, each with advantages and disadvantages. Lower-frequency waves can travel farther but are slower. Higher-frequency waves travel faster but can go only limited distances. Higher-frequency 5G can achieve gigabit-per-second speeds, which promises to render ethernet and other wired connections obsolete in the future. Currently, however, the higher frequency comes at a higher cost and thus is deployed only where it’s most needed: in crowded urban settings, stadiums, convention centers, airports and concert halls.

A type of 5G service, Ultra-Reliable and Low-Latency Communications can be used where data needs to be transmitted without loss or interruption in service – for example, controlling drones in disaster areas. One day, after the technology is more robust, it could even be used for remote surgery.

 

Suggested Reading:

The Computer Chip Shortage, Where We Are Now

Can Market Strength Last into 2022?

Can 5G and Airport Safety Coexist?

History Being Made in Net-Zero Passenger Flights

 

 

 

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	Image Credit: Element5 (Pexels)

How Cybercriminals Turn Paper Checks Stolen from Mailboxes into Bitcoin

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and opinions of David Maimon, Associate Professor of Criminal Justice and Criminology, Georgia State University.

 

While cybercrime gets a lot of attention from law enforcement and the media these days, I’ve been documenting a less high-tech threat emerging in recent months: a surge in stolen checks.

Criminals are increasingly targeting U.S. Postal Service and personal mailboxes to pilfer filled-out checks and sell them over the internet using social media platforms. The buyers then alter the payee and amount listed on the checks to rob victims’ bank accounts of thousands of dollars. While the banks themselves typically bear the financial burden and reimburse targeted accounts, criminals can use the checks to steal victims’ identities, which can have severe consequences.

I founded and now direct Georgia State University’s Evidence Based Cybersecurity Research Group, which is aimed at learning what works and what doesn’t in preventing cybercrime. For the past two years, we’ve been surveilling 60 black market communication channels on the internet to learn more about the online fraud ecosystem and gather data on it in a systematic way in order to spot trends.

One thing we didn’t expect to see was a surge in purloined checks.

 

An Old Threat Returns

In general, bank check theft is a type of fraud that involves the stealing and unauthorized cashing of a check.

It’s hardly a new phenomenon. Criminals were committing check fraud as soon as the first modern checks were cut in the 18th century in England – and the authorities were already looking for ways to prevent it.

While there’s little historical data on this type of fraud, we do know it became particularly problematic in the 1990s as the internet made finding willing buyers of illicit items easier than ever. For example, financial institutions estimated they lost about US$1 billion to check fraud from April 1996 to September 1997.

But what may seem a little surprising is that its resurgence now at a time when the vast majority of transactions are conducted electronically and check use continues to wane.

 

What Check Fraud Looks Like

Broadly speaking, the check scams we’ve been tracking look something like this:

Someone breaks into a mailbox that stores letters waiting to be sent and grabs some of them in hopes they’ll contain a check that’s been filled in. Often, the crime scene where the theft occurs is the victim’s own mailbox, but it can also be one of those blue USPS boxes you pass on the street.

Criminals can access those with a stolen or copied mailbox key, which we have seen on sale for as much as $1,000.

Thieves may deposit or cash the checks themselves or sell them on to others via a marketplace of illicit items, such as fake IDs and credit cards. Prices are typically $175 for personal checks and $250 for business ones – payable in bitcoin – but always negotiable and cheaper in bulk, based on our observations and direct interactions with the sellers.

Buyers then use nail polish remover to erase the intended payee’s name and the amount displayed on the check, replacing those details with their own preferred payee – such as a retailer – and amount, usually a lot higher than the original check. A buyer might also simply cash the check at a location like Walmart using a fake ID.

In some cases we believe criminals are using the checks to steal the victim’s identity by using their name and address to manufacture fake driver’s licenses, passports and other legal documents. Upon taking over someone’s identity, a criminal may use it to submit false applications for loans and credit cards, access the victim’s bank accounts and engage in other types of online fraud.

 

Tracking Black Market Chat Rooms

To better understand how cybercriminals operate, my team of graduate students began monitoring 60 online chat room channels where we knew people were trafficking in fraudulent documents. Examples of these types of channels are group chats on messaging apps like WhatsApp, ICQ and Telegram, in which users post pictures of items they wish to sell. Some of the channels we are monitoring are public, while others required an invitation, which we managed to procure.

After we noticed a rise in stolen checks on sale, we began systematically gathering data from those channels about six months ago in order to track the trend. We downloaded the images, coded them and then aggregated the data so we could spot trends in what was being sold.

In our observations, we came across an average of 1,325 stolen checks being sold every week in October 2021, up from 634 per week in September and 409 in August. Although little historical data on this practice exists, a one-week pilot study we conducted in October 2020 places these numbers in some perspective. Back then, we observed only 158 stolen checks during that period.

Furthermore, these figures likely only represent a small fraction of the number of checks actually being stolen and sold. We focused on only 60 markets, when in fact there are thousands currently active.

In dollar amounts, we found that the face value of the checks, as written, was $11.6 million in all of October and $10.2 million in September. But again, these values likely represent a small share of the actual amount of money being stolen from victims because criminals often rewrite the checks for much higher amounts.

 

 

Using the victims addresses, which appeared on the left top corner of the checks, and focusing on the data we collected in the month of October 2021, we found New York, Florida, Texas and California were the top sources.

How to Protect Yourself

The best advice I can give consumers who want to avoid falling victim to these schemes is to avoid mailing checks, if you can.

Bank checking accounts usually offer customers the option to send money electronically, whether to a friend or a company, for free. And there are many apps and other services that allow you to make digital payments from bank accounts or via credit card. While there are risks with these methods as well, in general they are a lot safer than writing a check and sending it in the mail.

Still, some types of businesses may require a physical check for payment, such as landlords, utilities and insurance companies. Moreover, as a matter of personal preference, some people – myself included – prefer to pay their bills using checks rather than other methods of payment.

To avoid the risk, I make sure to drop off all my letters containing checks inside my local post office. That’s generally your best bet for keeping them out of the hands of criminals and ensuring they reach their intended destination.

The United States Postal Inspection Service, the agency responsible for preventing mail theft, also offers tips to stay protected.

As for enforcement, the inspection service works with the police and others to crack down on mail-related crime. These efforts result in the arrest of thousands of mail and packages thieves every year. However, for every arrest, there are many more criminals who go undetected.

And when we informed officials of our findings, they were also surprised by what we discovered but planned to step up monitoring of these types of black market communication channels.

Our research suggests much more systematic data on this type of fraud is needed in order to better understand how it works, crack down on the activity and prevent it from occurring in the first place.

 

Suggested Reading:

After a Big Year for Cryptocurrencies, What’s on the Horizon in 2022?

Threats to Your Personal Information

Is a Zero Trust Architecture Enough?

Robinhood Will Be Adopting More Traditional Investment Programs

 

 

 

Stay up to date. Follow us:

	Image Credit: Element5 (Pexels)

How Cybercriminals Turn Paper Checks Stolen from Mailboxes into Bitcoin

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and opinions of David Maimon, Associate Professor of Criminal Justice and Criminology, Georgia State University.

 

While cybercrime gets a lot of attention from law enforcement and the media these days, I’ve been documenting a less high-tech threat emerging in recent months: a surge in stolen checks.

Criminals are increasingly targeting U.S. Postal Service and personal mailboxes to pilfer filled-out checks and sell them over the internet using social media platforms. The buyers then alter the payee and amount listed on the checks to rob victims’ bank accounts of thousands of dollars. While the banks themselves typically bear the financial burden and reimburse targeted accounts, criminals can use the checks to steal victims’ identities, which can have severe consequences.

I founded and now direct Georgia State University’s Evidence Based Cybersecurity Research Group, which is aimed at learning what works and what doesn’t in preventing cybercrime. For the past two years, we’ve been surveilling 60 black market communication channels on the internet to learn more about the online fraud ecosystem and gather data on it in a systematic way in order to spot trends.

One thing we didn’t expect to see was a surge in purloined checks.

 

An Old Threat Returns

In general, bank check theft is a type of fraud that involves the stealing and unauthorized cashing of a check.

It’s hardly a new phenomenon. Criminals were committing check fraud as soon as the first modern checks were cut in the 18th century in England – and the authorities were already looking for ways to prevent it.

While there’s little historical data on this type of fraud, we do know it became particularly problematic in the 1990s as the internet made finding willing buyers of illicit items easier than ever. For example, financial institutions estimated they lost about US$1 billion to check fraud from April 1996 to September 1997.

But what may seem a little surprising is that its resurgence now at a time when the vast majority of transactions are conducted electronically and check use continues to wane.

 

What Check Fraud Looks Like

Broadly speaking, the check scams we’ve been tracking look something like this:

Someone breaks into a mailbox that stores letters waiting to be sent and grabs some of them in hopes they’ll contain a check that’s been filled in. Often, the crime scene where the theft occurs is the victim’s own mailbox, but it can also be one of those blue USPS boxes you pass on the street.

Criminals can access those with a stolen or copied mailbox key, which we have seen on sale for as much as $1,000.

Thieves may deposit or cash the checks themselves or sell them on to others via a marketplace of illicit items, such as fake IDs and credit cards. Prices are typically $175 for personal checks and $250 for business ones – payable in bitcoin – but always negotiable and cheaper in bulk, based on our observations and direct interactions with the sellers.

Buyers then use nail polish remover to erase the intended payee’s name and the amount displayed on the check, replacing those details with their own preferred payee – such as a retailer – and amount, usually a lot higher than the original check. A buyer might also simply cash the check at a location like Walmart using a fake ID.

In some cases we believe criminals are using the checks to steal the victim’s identity by using their name and address to manufacture fake driver’s licenses, passports and other legal documents. Upon taking over someone’s identity, a criminal may use it to submit false applications for loans and credit cards, access the victim’s bank accounts and engage in other types of online fraud.

 

Tracking Black Market Chat Rooms

To better understand how cybercriminals operate, my team of graduate students began monitoring 60 online chat room channels where we knew people were trafficking in fraudulent documents. Examples of these types of channels are group chats on messaging apps like WhatsApp, ICQ and Telegram, in which users post pictures of items they wish to sell. Some of the channels we are monitoring are public, while others required an invitation, which we managed to procure.

After we noticed a rise in stolen checks on sale, we began systematically gathering data from those channels about six months ago in order to track the trend. We downloaded the images, coded them and then aggregated the data so we could spot trends in what was being sold.

In our observations, we came across an average of 1,325 stolen checks being sold every week in October 2021, up from 634 per week in September and 409 in August. Although little historical data on this practice exists, a one-week pilot study we conducted in October 2020 places these numbers in some perspective. Back then, we observed only 158 stolen checks during that period.

Furthermore, these figures likely only represent a small fraction of the number of checks actually being stolen and sold. We focused on only 60 markets, when in fact there are thousands currently active.

In dollar amounts, we found that the face value of the checks, as written, was $11.6 million in all of October and $10.2 million in September. But again, these values likely represent a small share of the actual amount of money being stolen from victims because criminals often rewrite the checks for much higher amounts.

 

 

Using the victims addresses, which appeared on the left top corner of the checks, and focusing on the data we collected in the month of October 2021, we found New York, Florida, Texas and California were the top sources.

How to Protect Yourself

The best advice I can give consumers who want to avoid falling victim to these schemes is to avoid mailing checks, if you can.

Bank checking accounts usually offer customers the option to send money electronically, whether to a friend or a company, for free. And there are many apps and other services that allow you to make digital payments from bank accounts or via credit card. While there are risks with these methods as well, in general they are a lot safer than writing a check and sending it in the mail.

Still, some types of businesses may require a physical check for payment, such as landlords, utilities and insurance companies. Moreover, as a matter of personal preference, some people – myself included – prefer to pay their bills using checks rather than other methods of payment.

To avoid the risk, I make sure to drop off all my letters containing checks inside my local post office. That’s generally your best bet for keeping them out of the hands of criminals and ensuring they reach their intended destination.

The United States Postal Inspection Service, the agency responsible for preventing mail theft, also offers tips to stay protected.

As for enforcement, the inspection service works with the police and others to crack down on mail-related crime. These efforts result in the arrest of thousands of mail and packages thieves every year. However, for every arrest, there are many more criminals who go undetected.

And when we informed officials of our findings, they were also surprised by what we discovered but planned to step up monitoring of these types of black market communication channels.

Our research suggests much more systematic data on this type of fraud is needed in order to better understand how it works, crack down on the activity and prevent it from occurring in the first place.

 

Suggested Reading:

After a Big Year for Cryptocurrencies, What’s on the Horizon in 2022?

Threats to Your Personal Information

Is a Zero Trust Architecture Enough?

Robinhood Will Be Adopting More Traditional Investment Programs

 

 

 

Stay up to date. Follow us:

Thursday, January 06, 2022

Voyager Digital (VYGVF)(VOYG:CA)
Preliminary 2Q22 Revenues Exceed Estimate

Voyager Digital Ltd through its subsidiary, operates as a crypto asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet and custody services through its institutional-grade open architecture platform.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Preliminary Revenues. Voyager announced preliminary revenues for the fiscal second quarter ended December 31st of $165 million, compared to $81.5 million in the fiscal first quarter, and $3.6 million a year ago. We had projected revenue of $141 million for the quarter. Merchant services revenue increased to $15 million in the quarter, compared to $14 million in the September quarter.


Key Metrics.  Total verified users grew to 3.2 million at December 31st, up from 2.15 million on September 30th, while totaled funded accounts rose to 1.075 million from 860,000 over the same period. Total funded to total verified fell to .336 from .400. We expect a portion of this reflects the hugely successful Mavericks promotion. Net new deposits in the fiscal second quarter totaled $1.04 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Voyager Digital Announces Estimated Revenue of Approximately USD$165MM For the Quarter Ended December 31, 2021

 

Research, News, and Market Data on Voyager Digital

 

Preliminary revenues for the calendar year ended December 31, 2021 are expected to exceed USD$415 million

 

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQB: VYGVF; FRA: UCD2), one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced preliminary revenue and user metrics for the fiscal 2022 second quarter ended December 31, 2021 and is pleased to provide commentary on the Company’s calendar 2022 growth plans.
 
“Voyager had outstanding growth in the quarter ended December 31, 2021, with preliminary revenue anticipated to be approximately $165 million, up from $3.6 million for quarter ended December 31, 2020, and with funded accounts surpassing one million, up from just 43,000 at the beginning of the year.  We remain focused on positioning our platform as one of the leading players in digital assets for consumers and expect continued customer growth in 2022,” said Steve Ehrlich, Voyager’s CEO and Co-founder.  “In 2021, we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated. Now, with our platform and technological capabilities enhanced, 2022 marks the next phase of Voyager’s growth through product and geographic expansion, alongside marketing efforts to reach new customers.”
 
The Company is pleased to announce the following Financial and Operational Key Metrics for
fiscal 2022 second quarter ended December 31, 2021:

• Preliminary total revenue for the fiscal 2022 second quarter ended December 31, 2021 is estimated at $165 million, compared to $81.5 million for the fiscal 2022 first quarter ended September 30, 2021 and $3.6 million for fiscal 2021 second quarter ended December 31, 2020.   
• Preliminary total revenue for the calendar year 2021 is estimated to exceed $415 million vs $6.6 million for the calendar year 2020.  This includes preliminary estimated revenue from merchant services of $29 million.
• Preliminary revenue from merchant services, which is included in total revenue, is estimated to be $15 million for the fiscal 2022 second quarter ended December 31, 2021 vs $14 million for the fiscal 2022 first quarter ended September 30, 2021.
• Total Verified Users grew to 3.2 million as of December 31, 2021, up from 2.15 million on September 30, 2021 and 159,000 on December 31, 2020.
• Total Funded Accounts grew to 1.075 million as of December 31, 2021, up from 860,000 on September 30, 2021 and 43,000 on December 31, 2020.
• Net new deposits for the fiscal 2022 second quarter ended December 31, 2021 were approximately $ 1.04 billion, compared to the $827 million for the fiscal 2022 first quarter ended September 30, 2021.
   
   

Steve Ehrlich continued, “We’ve rapidly grown our employee base by more than 7x, from 35 employees at January 1, 2021 to over 250 at the end of 2021.  We expect to continue to grow our team in 2022 as we expand into NFT’s, the Metaverse, and our own custody solution. Also, we look forward to beginning our rollout in Europe and Canada, launching our debit card, and adding credit products and equity trading. Further, Voyager will continue to build out our payment processing capabilities as we add merchant payment systems to our already established payment system. As we look ahead, we remain committed to driving sustainable long-term customer growth and executing on our strategic priorities, and will accelerate our growth through M&A when appropriate.”
 
Voyager will be announcing the results of its fiscal 2022 second quarter ending December 31st on or about February 14th. Voyager will also be participating in Eight Capital’s innoVIII: Riding the Digital Rails Virtual Conference on January 26th.
 
For more information about investor events that Voyager will be participating in, please visit www.investvoyager.com/investorrelations/events.
 
All amounts are in US Dollars unless otherwise indicated.
 
About Voyager Digital Ltd.
Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.
 
Financial Disclaimer:
The preliminary estimated financial results and other data for the three and six months ended December 31, 2021 set forth above are subject to the completion of the Company’s financial closing procedures. This data has been prepared by, and is the responsibility of, the Company’s management and audit committee. Voyager’s independent registered public accounting firm, Marcum LLP, does not express an opinion or any other form of assurance with respect thereto. The Company currently expects that its final results of operations and other data for the interim period ended December 31, 2021 will be consistent with the estimates set forth above, but such estimates are preliminary and Voyager’s actual results of operations and other data could differ materially from these estimates due to the completion of its quarterly review procedures, final adjustments, and other developments that may arise between now and the time such unaudited consolidated financial statements for the three and six months ended December 31, 2021 are released.
 
Forward Looking Statements

Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company‘s anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” (or the negatives) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Voyager’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry, or the Company’s businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Readers are cautioned that Assets Under Management and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the Company’s control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events, except as required by law. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends.
The TSX has not approved or disapproved of the information contained herein.
 
SOURCE Voyager Digital, Ltd.

Press Contacts
 
Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager

Digerati Closes Acquisition of SkyNet Telecom

Research, News, and Market Data on Digerati Technologies

 

– Expands Cloud Communication and Broadband Solutions Footprint in Texas –

– Adds $3.4 Million in Annual Revenue –

 

SAN ANTONIO, TX (GlobeNewswire) – January 5, 2022 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, is pleased to announce the completion of the acquisition of San Antonio-based SkyNet Telecom (“SkyNet”), a leading provider of cloud communication and broadband solutions tailored for businesses.

The acquisition of SkyNet expands the Company’s footprint in Texas and increases its customer base by over 215% to 737 business customers in the Lone Star State. On a consolidated basis and as a result of this acquisition,Digerati’s operating subsidiaries will now serve over 3,100 business customers and approximately 33,000 users in Texas and Florida, the 2nd and 4th largest state economies by GDP in the USA. Based on the quarter ending October 31, 2021 on an annualized basis, the Company expects its operating subsidiaries will generate $18.5 million in annual revenue with the addition of SkyNet. SkyNet is expected to have an immediate and positive impact on the consolidated EBITDA and operating income of the Company with additional improvements to be realized during FY2022 from the anticipated cost synergies and consolidation savings derived from this acquisition.

Paul Golibart, President of SkyNet, stated, “We are excited for our team and the increased opportunities this business combination brings to our customers. From CRM integration to wireless business continuity solutions, our portfolio of products is enhanced tremendously going forward. We look forward to working with the Digerati team to bring these solutions to our customer base and expand into new markets.”

Arthur L. Smith, Chief Executive Officer of Digerati, commented, “In addition to increased revenue and adding a solid base of customers to our portfolio, the acquisition of SkyNet will expand our service and support capabilities in the growing Texas market. We also plan to adopt SkyNet’s go-to-market strategy in secondary and tertiary high-growth markets that are just opening to a competitive environment that allows number portability.”

Mr. Smith continued, “SkyNet fit our disciplined M&A plan and business model perfectly with its identical technology stack and strong and predictable recurring revenue with high gross margins under contracts with business customers. We are excited about our future in Texas with this business combination.”

The Company utilized its $20 million financing facility with Post Road Group to complete its acquisition of SkyNet Telecom.

About SkyNet Telecom

SkyNet Telecom is a hosted PBX/VoIP provider headquartered in San Antonio, Texas. Serving its first customers in 2010 as a business unit of Novatel Networks, SkyNet Telecom became an independent enterprise in 2013. SkyNet provides hosted communication services to small and medium-sized businesses across Texas and the United States. While SkyNet’s communication services and technology operate with the high-tech efficiency of a machine, its approach to customer service is all human. SkyNet is a high-touch organization that works individually with each of its clients to develop custom VoIP and data solutions that works for specific business needs. For more information about SkyNet, please visit Skynettelecom.net.

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries T3 Communications (T3com.com), Nexogy (Nexogy.com), and SkyNet Telecom (Skynettelecom.net), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the CloudTM.

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements, including but not limited to, total customers, annual revenue and EBITDA, adopting SkyNet’s go-to-market strategy, and improvements to be realized during FY2022 from the anticipated cost synergies and consolidation savings derived from the SkyNet acquisition are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Factors that could cause results to differ include, but are not limited to, execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors

The Eversull Group
Jack Eversull
jack@theeversullgroup.com
(972) 571-1624

ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234

Digerati Closes Acquisition of SkyNet Telecom

Research, News, and Market Data on Digerati Technologies

 

– Expands Cloud Communication and Broadband Solutions Footprint in Texas –

– Adds $3.4 Million in Annual Revenue –

 

SAN ANTONIO, TX (GlobeNewswire) – January 5, 2022 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, is pleased to announce the completion of the acquisition of San Antonio-based SkyNet Telecom (“SkyNet”), a leading provider of cloud communication and broadband solutions tailored for businesses.

The acquisition of SkyNet expands the Company’s footprint in Texas and increases its customer base by over 215% to 737 business customers in the Lone Star State. On a consolidated basis and as a result of this acquisition,Digerati’s operating subsidiaries will now serve over 3,100 business customers and approximately 33,000 users in Texas and Florida, the 2nd and 4th largest state economies by GDP in the USA. Based on the quarter ending October 31, 2021 on an annualized basis, the Company expects its operating subsidiaries will generate $18.5 million in annual revenue with the addition of SkyNet. SkyNet is expected to have an immediate and positive impact on the consolidated EBITDA and operating income of the Company with additional improvements to be realized during FY2022 from the anticipated cost synergies and consolidation savings derived from this acquisition.

Paul Golibart, President of SkyNet, stated, “We are excited for our team and the increased opportunities this business combination brings to our customers. From CRM integration to wireless business continuity solutions, our portfolio of products is enhanced tremendously going forward. We look forward to working with the Digerati team to bring these solutions to our customer base and expand into new markets.”

Arthur L. Smith, Chief Executive Officer of Digerati, commented, “In addition to increased revenue and adding a solid base of customers to our portfolio, the acquisition of SkyNet will expand our service and support capabilities in the growing Texas market. We also plan to adopt SkyNet’s go-to-market strategy in secondary and tertiary high-growth markets that are just opening to a competitive environment that allows number portability.”

Mr. Smith continued, “SkyNet fit our disciplined M&A plan and business model perfectly with its identical technology stack and strong and predictable recurring revenue with high gross margins under contracts with business customers. We are excited about our future in Texas with this business combination.”

The Company utilized its $20 million financing facility with Post Road Group to complete its acquisition of SkyNet Telecom.

About SkyNet Telecom

SkyNet Telecom is a hosted PBX/VoIP provider headquartered in San Antonio, Texas. Serving its first customers in 2010 as a business unit of Novatel Networks, SkyNet Telecom became an independent enterprise in 2013. SkyNet provides hosted communication services to small and medium-sized businesses across Texas and the United States. While SkyNet’s communication services and technology operate with the high-tech efficiency of a machine, its approach to customer service is all human. SkyNet is a high-touch organization that works individually with each of its clients to develop custom VoIP and data solutions that works for specific business needs. For more information about SkyNet, please visit Skynettelecom.net.

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries T3 Communications (T3com.com), Nexogy (Nexogy.com), and SkyNet Telecom (Skynettelecom.net), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the CloudTM.

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements, including but not limited to, total customers, annual revenue and EBITDA, adopting SkyNet’s go-to-market strategy, and improvements to be realized during FY2022 from the anticipated cost synergies and consolidation savings derived from the SkyNet acquisition are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Factors that could cause results to differ include, but are not limited to, execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors

The Eversull Group
Jack Eversull
jack@theeversullgroup.com
(972) 571-1624

ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234

Voyager Digital Announces Estimated Revenue of Approximately USD$165MM For the Quarter Ended December 31, 2021

 

Research, News, and Market Data on Voyager Digital

 

Preliminary revenues for the calendar year ended December 31, 2021 are expected to exceed USD$415 million

 

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQB: VYGVF; FRA: UCD2), one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced preliminary revenue and user metrics for the fiscal 2022 second quarter ended December 31, 2021 and is pleased to provide commentary on the Company’s calendar 2022 growth plans.
 
“Voyager had outstanding growth in the quarter ended December 31, 2021, with preliminary revenue anticipated to be approximately $165 million, up from $3.6 million for quarter ended December 31, 2020, and with funded accounts surpassing one million, up from just 43,000 at the beginning of the year.  We remain focused on positioning our platform as one of the leading players in digital assets for consumers and expect continued customer growth in 2022,” said Steve Ehrlich, Voyager’s CEO and Co-founder.  “In 2021, we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated. Now, with our platform and technological capabilities enhanced, 2022 marks the next phase of Voyager’s growth through product and geographic expansion, alongside marketing efforts to reach new customers.”
 
The Company is pleased to announce the following Financial and Operational Key Metrics for
fiscal 2022 second quarter ended December 31, 2021:

• Preliminary total revenue for the fiscal 2022 second quarter ended December 31, 2021 is estimated at $165 million, compared to $81.5 million for the fiscal 2022 first quarter ended September 30, 2021 and $3.6 million for fiscal 2021 second quarter ended December 31, 2020.   
• Preliminary total revenue for the calendar year 2021 is estimated to exceed $415 million vs $6.6 million for the calendar year 2020.  This includes preliminary estimated revenue from merchant services of $29 million.
• Preliminary revenue from merchant services, which is included in total revenue, is estimated to be $15 million for the fiscal 2022 second quarter ended December 31, 2021 vs $14 million for the fiscal 2022 first quarter ended September 30, 2021.
• Total Verified Users grew to 3.2 million as of December 31, 2021, up from 2.15 million on September 30, 2021 and 159,000 on December 31, 2020.
• Total Funded Accounts grew to 1.075 million as of December 31, 2021, up from 860,000 on September 30, 2021 and 43,000 on December 31, 2020.
• Net new deposits for the fiscal 2022 second quarter ended December 31, 2021 were approximately $ 1.04 billion, compared to the $827 million for the fiscal 2022 first quarter ended September 30, 2021.
   
   

Steve Ehrlich continued, “We’ve rapidly grown our employee base by more than 7x, from 35 employees at January 1, 2021 to over 250 at the end of 2021.  We expect to continue to grow our team in 2022 as we expand into NFT’s, the Metaverse, and our own custody solution. Also, we look forward to beginning our rollout in Europe and Canada, launching our debit card, and adding credit products and equity trading. Further, Voyager will continue to build out our payment processing capabilities as we add merchant payment systems to our already established payment system. As we look ahead, we remain committed to driving sustainable long-term customer growth and executing on our strategic priorities, and will accelerate our growth through M&A when appropriate.”
 
Voyager will be announcing the results of its fiscal 2022 second quarter ending December 31st on or about February 14th. Voyager will also be participating in Eight Capital’s innoVIII: Riding the Digital Rails Virtual Conference on January 26th.
 
For more information about investor events that Voyager will be participating in, please visit www.investvoyager.com/investorrelations/events.
 
All amounts are in US Dollars unless otherwise indicated.
 
About Voyager Digital Ltd.
Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.
 
Financial Disclaimer:
The preliminary estimated financial results and other data for the three and six months ended December 31, 2021 set forth above are subject to the completion of the Company’s financial closing procedures. This data has been prepared by, and is the responsibility of, the Company’s management and audit committee. Voyager’s independent registered public accounting firm, Marcum LLP, does not express an opinion or any other form of assurance with respect thereto. The Company currently expects that its final results of operations and other data for the interim period ended December 31, 2021 will be consistent with the estimates set forth above, but such estimates are preliminary and Voyager’s actual results of operations and other data could differ materially from these estimates due to the completion of its quarterly review procedures, final adjustments, and other developments that may arise between now and the time such unaudited consolidated financial statements for the three and six months ended December 31, 2021 are released.
 
Forward Looking Statements

Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company‘s anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” (or the negatives) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Voyager’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry, or the Company’s businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Readers are cautioned that Assets Under Management and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the Company’s control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events, except as required by law. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends.
The TSX has not approved or disapproved of the information contained herein.
 
SOURCE Voyager Digital, Ltd.

Press Contacts
 
Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager

	Image Credit: Sony Mobility, Inc.

Sony Announces Electric Vehicle Division

 

Since the early days of the pandemic lockdowns, Sony has been selling PlayStation 5s as fast as they are able to manufacture them. Yesterday they announced the launch of a new company, Sony Mobility. This announcement, along with two prototype cars, demonstrates a real commitment to enter the EV car manufacturing business.

The Consumer Electronics Show (CES) opens today (January 5) in La Vegas and runs for three days. Prior to the opening yesterday, Sony, a major player in the consumer electronics market announced the start of their new company saying that they believe mobility and entertainment go hand in hand.

The company also unveiled a new prototype electric SUV named VISION-S 02—which it will have on exhibit at the trade fair beginning Wednesday. Back in 2020, at the CES trade show, Sony surprised the world with their first EV prototype, the VISION-S EV.  This vehicle was viewed two years ago as a PlayStation on wheels, and an experiment. The model car now has an additional two years of testing and refinements.

 “The new company will aim to make the best use of AI and robotics technologies, help realize a world where everyone can live in harmony with robots on a daily basis, fill people with emotion, and contribute to society,” Sony said.

 

Other EV news

General Motors (GM), is expected to unveil an all-electric Chevy Silverado at the 2022 CES trade show GM shares rose 7.5% Tuesday (January 4).

Ford Motor (F) announced plans to almost double its annual production of its F-150 Lightning electric pickup truck, citing growing demand.

Tesla (TSLA) reported record fourth-quarter deliveries on the first trading day of 2022, shares jumped  13.5%.

 

Suggested Reading:

Stocks that May Benefit from the $7.5b Spending on EV Charging Stations

Lithium Recycling is an EV Opportunity Not Yet on Many Investors’ Radar

Lithium-Ion Power vs Hydrogen Fuel Cell

Copper Facing an Onslaught of Demand

 

Sources:

https://www.sony.com/en/SonyInfo/News/Press/202201/22-002E/

https://www.irishtimes.com/business/manufacturing/sony-launches-electric-vehicle-company-to-explore-entering-market-1.4769241

https://www.motorbiscuit.com/a-playstation-car-sony-could-be-the-next-big-ev-manufacturer/

https://www.barrons.com/articles/sony-mobility-ev-unit-electric-suv-51641386874

 

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	Image Credit: Fritzschens Fritz (Flickr)

The Computer Chip Shortage, Where We Are Now

 

To understand when the microchip shortage will end it helps to deeply understand how it began, and what is being done. The problems started with a global pandemic, a trade war, drought, fires, and snowstorms. At the same time, there has been record demand for computer chips. Microchips are in everything from washing machines to fitness watches. And new cars could require several dozen. The inability for consumer-goods manufacturers to secure the specific chips needed has idled production of many things we take for granted, meanwhile chip production, even under ideal conditions, is somewhat painstaking.

 

Background

The covid-19 pandemic caused decreased demand for new cars. This made sense as many were faced with an uncertain economic future, and their time spent behind the wheel of a car came to a screeching halt. Car companies, not looking to get stuck with a glut of cars slimmed-down manufacturing. Some plants even switched gears and manufactured ventilators for the government. The reduced auto manufacturing and reduced orders for parts including chips, which help control everything from transmissions to braking, and engine surveillance, caused microchip companies to refocus.

While car demand faltered, demand for home electronics like laptops, smart TVs and, new phones were in high demand as setting up a functioning home office became important. There was also increased demand for electronic recreation causing game console sales to tick-up dramatically.  

Factories reacted and began producing chips to match the changed demand. They actually increased manufacturing to the point where by January 2021 YOY sales were up 13.2%. They still were not able to meet demand. So bad was the shortfall that Apple produced 10 million fewer iPhone 13s last year than it had planned to.

 

When Will the Chip Shortage Resolve Itself?

Today’s chips are far more complex than ever before. The first Intel (INTC) microchip contained 2500 individual transistors, today there may be as many as 30 billion transistors on a single chip. As complex and delicate as chips today are, the fragility of the related supply chains has been the main difficulty.

Creating a single microchip can involve from 10 to 100 different manufacturers working on the same exact semiconductor wafer. Effectively, one semiconductor may travel around the world a half dozen times before being complete and ready for the manufacturer. And every part of the process is critical to the final product. With transportation slowed and some factories closed with the pandemic, slowdowns, bottlenecks, and roadblocks were almost a certainty and still are a problem.

Taiwan Semiconductor Manufacturing (TSMC) has a hand in close to 50 percent of the world’s microchips. It has scaled up production efforts to meet the demand, but there is only so much they can do since so many other parties are relied upon. Any changes in production methods also are subject to testing and evaluation. This is especially important when it comes to chips used in new cars. In addition to the safety concerns, they need to endure under harsh conditions for at least ten years.

New car shortages, with reports of some selling for up to $20,000 over sticker, have begun to get government attention. The U.S. President has pledged $50 billion in funding over the next decade to incentivize chip manufacturing within U.S. borders. The European Union has committed €145 billion over the next few years for the same purpose. Meanwhile, South Korea has announced $450 billion of investment and China has pledged over $1 trillion. Factories to handle all of the intricacies take years. One of the largest current projects is a $12 billion TSMC facility that is due to open in Arizona in 2024. In the near future, the shortage is expected to continue, the recent outbreak of the omicron variant of Covid19 may delay production plans even further.

One more thing weighing on chip production for the next month is that China is said to be aiming for zero Covid infections prior to the 2022 Winter Olympics scheduled to begin February 4. The measures they are taking to achieve this have slowed current production of microchips and everything else.

Take-Away

Manufacturing computer chips is not remote work. The reasons for chip shortages for the products that are in high demand came about through a series of steps that included consumer behavior, meeting changed consumer demand, difficulty in shipping, and problems in bringing people to work. Now that it is a recognized problem, the amount of effort being undertaken to correct it may lead to a future where chips are in more than ample supply. That, however, is not likely to occur during the first two quarters of 2022. Chips are delicate and any new facility or process will necessitate thorough testing, the last thing a chip manufacturer needs is a recall.

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Sources:

https://www.semiconductors.org/global-semiconductor-sales-increase-13-2-year-to-year-in-january/

https://www.reuters.com/world/us/biden-jobs-plan-includes-50-bln-chips-research-manufacturing-2021-04-12/

https://www.cnbc.com/2021/03/16/2-charts-show-how-much-the-world-depends-on-taiwan-for-semiconductors.html

https://www.techradar.com/uk/news/why-ps5-shortage

https://www.newscientist.com/article/2022-2022-preview-will-the-global-computer-chip-shortage-ever-end/#ixzz7H0po9EPk

https://www.newscientist.com/article/2271918-theres-a-global-shortage-of-computer-chips-whats-causing-it/

 

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