Click here to close now.




















Welcome!

News Feed Item

Alternet Systems Is Awarded Ven Authority Status Through Strategic Partnership With Hub Culture

Hub Culture Acquires First Ever Stake in Public Company Using Ven

MIAMI, FL -- (Marketwired) -- 02/26/14 -- Alternet Systems, Inc. (OTCQB: ALYI) ("Alternet" or the "Company"), an accelerator of high growth opportunities in Digital Currency and Mobile Commerce services, today announced at the 2014 Mobile World Congress in Barcelona, Spain that they have been awarded Ven Authority status through a strategic partnership with Hub Culture. As part of the strategic transaction, Hub Culture will receive approximately 5 million shares of Alternet in the first ever acquisition of a public company stake using digital currency. Alternet and Hub Culture will jointly be working together to introduce new products and services to Ven users globally. Ven is the only digital currency to be priced from a basket of currencies, commodities and carbon futures, making it green, grounded and stable.

What Is Ven
Ven is a global digital currency established in 2007 through the social network HubCulture.com and is the only digital currency trading on regulated financial exchanges such as LMAX.com and the Kraken.com digital asset exchange. Ven is 100% asset backed in real-time with a mix of fiat currencies, commodities and carbon, and is priced against other major currencies at floating exchange rates, creating a globally diversified hedge oriented currency. Ven was the first digital currency to float, the first used in bilateral commodity trading, and the first to include carbon in its makeup, making it the only environmentally linked currency in existence. Ven addresses security technologies in part through its security partnership with ValidSoft, wholly owned cloud security subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK).

Ven Authorities
In order to make Ven more accessible, Hub Culture authorizes independent entities known as "Authorities" to manage the liquidity of Ven. Examples of what Authorities can do includes operating on behalf of customers, provide real-time currency trading, allow corporations to convert assets to Ven to hedge their balance sheet, to meet carbon obligations, or enable an investment fund to use authority status to hold and control a large amount of Ven for a stable long-term investment solution. Ven is distributed through Authorities. The process is managed through a series of sophisticated hedging algorithms that balance the underlying reserves and issuance in real time with live financial markets data, updating as frequently as several times per second.

Mr. Henryk Dabrowski, CEO of Alternet Systems, commented, "Alternet Systems is thrilled to join the family of Ven Authorities working to bring this new age digital currency to new markets around the world. Our expertise in mobile technologies and affiliate customer bases provide rich new opportunities for this asset. Developing a strong expertise in new products and services in the digital currency sector is a core priority of our company. This evolution in strategy comes on the heels of our successful project with Utiba, which helped us build a wealth of connections and expertise that will benefit Ven and Hub Culture in the Americas. After evaluating the opportunities in the Digital Currency arena, Management believes that this partnership with Hub Culture represented the best opportunity to become a leader in what we believe will become a multi-billion dollar digital currency online transaction industry."

Stan Stalnaker, Hub Culture Founding Director, commented, "As Ven becomes increasingly recognized as a secure and transparent unit of account, its utility as a diversified hedge and stable store of value also grows. Our investment in Alternet Systems is based on our confidence in the future success of the new products and services related to Ven, which Alternet is developing with our technology team. Granting Alternet Systems status as a Ven Authority leapfrogs them to the cutting edge of the multi-billion dollar digital currency industry, and maximizes their unique capabilities to grow Ven in new markets faster. Crucial to this is Alternet's activity in mobile sectors where their connections across Latin America provide exciting opportunities to develop Ven as a tool for financial inclusion, remittances, environmental protection and foreign direct investment across the region, while also developing the North American market."

Mr. Stalnaker continued "Our strategy is markedly different than the hundreds of decentralized crypto-currencies that place their faith in a fixed supply of their asset and reject central authorities to manage them. While decentralized currencies have merit, the human role in managing Ven is designed to allow flexibility to deal with changing circumstances. Coupled with HubID and our transparent ledger, this allows us a clear and judicious path when working to grow the Ven ecosystem with regulators and financial governing authorities worldwide."

About Alternet Systems Inc.
Alternet Systems Inc. (OTCQB: ALYI), headquartered in Miami, Florida, is an enterprise accelerator company focused on the complimentary, high-growth markets of Digital Currency, Mobile and Internet Commerce and Cyber-Security products and services. Through its subsidiaries, Alternet captures and converts extraordinary growth opportunities surrounding the explosion of newly adapted Internet technologies and platforms. More information about Alternet and its subsidiaries can be found at www.alternetsystems.com and by following the company on Twitter www.twitter.com/alternetsystems.

About Hub Culture and Ven
Hub Culture is a global collaboration network building a brighter future. The community is driven by four projects: the Ven digital currency, Pavilions for meeting and connecting, knowledge brokerage, and Online Identity Management - HubID. It's all powered by a digital currency, Ven.

Ven is the only digital currency to be priced from a basket of currencies, commodities and carbon futures, making it green, grounded and stable. Ven is growing as a transparent financial tool for individuals, companies and institutions worldwide. As the first widely used digital currency and now an Internet Reserve Currency, Ven's history is one of constant evolution. Ven is issued and regulated by Hub Culture and the Ven Central Reserve Board, a group of financial experts from within the community tasked with protecting the integrity of Ven.

Hub Culture was founded in 2002 and maintains offices in London, New York, Bermuda, Hong Kong, and Geneva. Since 2007, over 60 million units of Ven have exchanged hands, with 60% of Ven used for redemption of goods and services in the Hub Culture platform and the rest trading in regulated financial markets. The currency is growing at an increasing curve rate as it finds a home in the financial world.

Learn more: HubCulture.com and Ven.VC

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact:
Investor Relations Contact at Alternet:
Email Contact
1-888-823-8494

Or

Alliance Advisors, LLC
Alan Sheinwald
Email Contact
(914) 669-0222

Or

Hub Culture
Stan Stalnaker
Email Contact
+44 79741 56 458 or +44 7951 447 059

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Amazon and Google have built software-defined data centers (SDDCs) that deliver massively scalable services with great efficiency. Yet, building SDDCs has proven to be a near impossibility for ‘normal’ companies without hyper-scale resources. In his session at 17th Cloud Expo, David Cauthron, founder and chief executive officer of Nimboxx, will discuss the evolution of virtualization (hardware, application, memory, storage) and how commodity / open source hyper converged infrastructure (HCI) so...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...