The U.S. Department of Labor (DOL) has urged caution to exercise “extreme care” while considering crypto as an option in the 401(k) plan’s investment. In a compliance report released on Thursday, the department issued a warning for employers who seek to increase their 401(k) exposure to cryptocurrencies, stating that any significant crypto investments within company-sponsored retirement accounts might lead to legal investigation. “These investments present significant risks and challenges to participants’ retirement accounts, including significant risks of fraud, theft, and loss,” the report reads. The 401(k) is a retirement savings plan offered by American employers that seeks to provide long-term financial security along with extended tax benefits. “At this early stage in the history of cryptocurrencies, however, the U.S. Department of Labor has serious concerns about plans’ decisions to expose participants to direct investments in cryptocurrencies or related products, such as NFTs, coins, and crypto assets,” the report added. Regarding the legislation surrounding 401(k) investments, it does not actually specifically detail on which asset classes must be included. However, it does emphasize to “show the care, skill, prudence, and diligence that a prudent person would exercise” when making investment choices “in order to minimize the risk of large losses.”

The post U.S. Department of Labor Warns Adding Crypto in Retirement Plans appeared first on Cryptoknowmics-Crypto News and Media Platform.

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TAMPA, FLA., Mar 11, 2022 - (ACN Newswire) - The VetCoin Foundation 501c3, a non-profit organization working with the veteran community to provide them with a more stable and secure future by using blockchain technology, is organizing a one-day event called 'Leave No Veteran Behind' in Tampa, Florida, on May 12, 2022. This event aims to bring veterans under one roof and explore new options in the Web3/Metaverse, a market expected to grow to $8 Trillion in the next decade.

With National Military Appreciation Month celebrated every year in May, the event is appropriately timed to serve as a platform to educate the veterans about possible solutions that blockchain could offer to build a bright future. The event organizers will also recognize a local veteran-owned business with a business incubator grant, and all attendees will be given a free NFT as a token of appreciation.

"The goal of the Vetaverse is to help the heroes create a better and secure future by utilizing the power of new technologies such as blockchain and web3. The purpose of this event is to offer a platform to our veteran community to gather and learn from the experts and be aware of the options that are available today," said Dr. Aaron Bazin, President of VetCoin Foundation.

War changes people. Hence, it is even more crucial to help the veteran community create a safe future with financial security as the topmost priority. At present, there are 17 million veterans in the country, and women vets are turning into the fastest growing homeless population in the USA. "The situation is alarming and needs immediate action. We have to help our veterans who are struggling with problems like mental health issues, financial insecurity, difficulty accessing capital, biggest of them being homelessness," Dr. Bazin added.

The VetCoin Foundation's value proposition is based on three principles - connect, enable, and transform. The organization's overarching aim is to provide veterans with access to the blockchain economy and will allow them to buy and invest in building their future. The token VetCoin is entirely secure, fully transparent, and the first cryptocurrency dedicated to the veteran community.

Dr. Bazin said about VetCoin, "VetCoin is an ERC-20 token on the secure Polygon blockchain. The number of tokens commemorates June 14, 1775, the founding day of the U.S. Armed Forces. Our mantra is to give back to the community with each transaction."

The VetCoin team is a brilliant mix of US servicemen and civilians with extensive blockchain experience, making this project come to life. The organization's core values can be summed up in one word, "SERVICE": selfless business model, empathy, resilience, vision, integrity, courtesy, and empowerment.

Visit VetCoin's website (https://vetcoinhq.com/private-sale/) to participate in the token pre-sale until March 15th, 2022. Don't miss the opportunity to join the Vetaverse!

Dr. Aaron Bazin
The VetCoin Foundation
[email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe VetCoin Foundation 501c3, a non-profit organization working with the veteran community to provide them with a more stable and secure future by using blockchain technology, is organizing a one-day event called 'Leave No Veteran Behind' in Tampa, Florida, on May 12, 2022.

Dubai, UAE, Mar 11, 2022 - (ACN Newswire) - Qenetex presents innovative solutions for secure and decentralized storage of funds. Security is guaranteed by the personal signature generated and encrypted on the owner's device. The Qenetex platform is designed to help connect blockchains, services, and tokens together, thus simplifying cryptocurrency management and making the crypto world more accessible to a broader audience.

What are the main advantages of Qenetex?

When someone makes an exchange on one of the major exchanges, they can see only one price and are limited by the list of tokens that the platform supports. Qenetex works differently, connecting more than 100 exchanges and providers worldwide, both decentralized and centralized. Within 2 seconds, the Exchange Search Engine analyzes big data from all over the global market and finds the most profitable exchange routes. At the same time, users do not need to spend time understanding how the exchanges work since the engine algorithm operates automatically.

Another problem Qenetex helps solve is commissions, namely high transaction and gas commissions. Firstly, Qenetex allows users to create multi-transactions, in which they can add as many recipients as they need in one block and pay only a one-time commission, saving on fees considerably. Secondly, the Qenetex team is working on the technology of gasless transactions called GTX that will enable users to pay a gas commission in the same token they transfer. Consequently, it will remove the need to hold specific tokens for commissions and eliminate risks of frozen funds due to the lack of thereof.

Finally, while the majority of wallets and exchanges take commissions for trading or buying/selling cryptocurrency as a company profit, our team decided to change the approach. We have created a model where users can return part of their commissions as cashback or even earn on transactions. It is possible due to the open protocol, where all users can transfer assets into the smart contract, providing funds for the operation of gasless and cashback rewards programs. Users who provide assets in the smart contract will receive cashback rewards from all transactions made with the exchange engine.

Payment gateway

Qenetex combines all services into one solution and creates a payment gateway, based on an open smart contract with the Qenetex token (QEX), to help businesses. The token is used inside the ecosystem, creating liquidity for exchange and cashback and assisting the distribution of rewards between the users.

The payment gateway is designed to be quickly and easily integrated into any application, game, store, or marketplace to sell hosting, music, tickets, real estate, etc. Any business owner can easily create an account, take a small technical script, instantly integrate it, and sell goods or receive payments directly from buyers. At the same time, all cryptocurrencies can be exchanged for fiat using our ecosystem.

About the company

Qenetex is an innovative platform that is based on decentralization technology and designed to serve as a bridge between digital assets and financial services. It allows users to securely store their funds in the non-custodial wallets, easily exchange them with the help of the Exchange Search Engine, and save on commissions through in-build features.

At the moment, the Qenetex team is working on expanding the platform and creating the entire ecosystem of various services (including Buying/Selling feature, MultiTrade, Launchpool, aggregated DeFi and NFT services, and full banking functionality), united in one simple and intuitive interface.

Social Links:
Facebook: https://facebook.com/Qenetex
Twitter: https://twitter.com/Qenetex
Linkedin: https://linkedin.com/company/Qenetex/
Telegram: https://t.me/Qenetex
Medium: https://medium.com/@Qenetex

Media contacts:
Company: Qenetex
E-mail: [email protected]
Website: https://qenetex.com

SOURCE: Qenetex

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Around 42% of venture capital and hedge funds investing in crypto are betting on the success of Polkadot’s smart contracts platform, according to Messari’s fund analysis. See related article: What is Polkadot and why is it one of the hottest blockchains right now?  Fast facts Polkadot was the most commonly held altcoin in Q4 last […]

SÃO PAULO, Brazil, SAN JOSE, Calif., and TOKYO, Japan , Mar 11, 2022 - (JCN Newswire) - Cisco and NEC Corporation today announced that Telefonica Vivo is deploying a simplified and automated, 5G-ready IP network for its converged mobile and fixed networks as part of the Fusion Network Project in Brazil supported by industry-leading solutions from the vendors. Cisco and NEC have been closely collaborating in Brazil for over 10 years and now are a part of a Global System Integrator Agreement (GSIA) signed in 2020, enabling them to seamlessly deploy an automated transport 5G-ready network for Telefonica Vivo.

Telefonica designed the Fusion Network Project as a platform for incorporating services into a single network infrastructure, offering advanced communications services, and transforming the customer experience. Leveraging the power of automation, the project aims to offer a more agile, scalable, and flexible network with improved reliability for both residential users and enterprises in the 5G era.

As defined in the Fusion Network Project, Cisco and NEC will work together to optimize Telefonica Vivo's total cost of ownership (TCO) and increase business agility by simplifying its network architecture and operations, converging mobile and fixed networks, and automating multi-layer networks across packet, optical and microwave domains. In addition, Segment Routing IPv6 will be implemented to enable a unified architecture with network slicing capabilities.

The simplification and automation of a multi-domain, multi-layer converged network coupled with segment routing, will increase Telefonica Vivo's network scalability and flexibility as it prepares to launch 5G. The Fusion Network Architecture will provide the scalability and flexibility needed to design and deliver new services.

As part of the agreement, Cisco will provide industry-leading network equipment including ASR 9000 and NCS 540 series routers for IP transport, Cisco Crosswork Network Controller as the multi-vendor SDN solution, and Cisco Crosswork Hierarchical Controller to enable multi-vendor and multi-layer automation within the Fusion Network domain. Cisco will serve as the key networking advisor leveraging a long-standing relationship and in-depth understanding of Telefonica Vivo's network.

Also building on a strong relationship and knowledge of the Telefonica Vivo network, NEC will serve as the key network integrator and provide local engineering capabilities with 5G xHaul transformation services to deliver a scalable migration for thousands of nodes.

"Since the transport network will play a key role in supporting innovative customer experiences and new services built on 5G, we needed trusted partners with a solid track record and local delivery capabilities," said Elmo Matos, Planning Director, Telefonica Vivo.

"Building on our partnership with NEC, we are pleased to enable Telefonica Vivo in providing faster, more seamless connections through a more modern, simplified network," said Shaun McCarthy, Vice President of Worldwide Sales, Mass Infrastructure Group, Cisco. "It is a great honor for Cisco to help be the bridge that is bringing the Internet for the Future to Brazil."

"NEC is honored to be selected as key partner for the Fusion Network Project, which is foundational to blossoming digital experiences in 5G," said Mayuko Tatewaki, General Manager, Service Provider Solutions Division, NEC Corporation. "With Cisco's trusted solutions combined into NEC's 5G xHaul Automation Ecosystem and further extended by our network integration capabilities globally and regionally, we are confident the implementation of the next-gen network will help deploy immersive 5G services in Brazil."

About Telefonica

Telefonica is a leading telecommunications service provider globally. The company offers fixed and mobile connectivity, as well as a wide range of digital services for individual consumers and enterprises. Telefonica has 367 million clients spanning Europe and Latin America. Telefonica is a private company whose shares are listed as TEF on the Bolsa de Madrid, the New York Stock Exchange, and the Bolsa de Valores de Lima.

https://www.telefonica.com/es/home

About Cisco

Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at new windowwww.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.


Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comCisco and NEC Corporation today announced that Telefonica Vivo is deploying a simplified and automated, 5G-ready IP network for its converged mobile and fixed networks as part of the Fusion Network Project in Brazil supported by industry-leading solutions from the vendors.