Prestigious Enterprise Ethereum Alliance welcomes Net
Element to its network of innovative companies
Net Element, Inc. (NASDAQ: NETE) (“Net Element” or
the “Company”), a global technology and value-added solutions
group, today announces that it has joined the Enterprise Ethereum
Alliance (“EEA”), the world’s largest open-source blockchain
initiative with over 250 member companies. Net Element’s membership
to the prestigious alliance is complementary to the Company’s
recently announced decentralized blockchain technology solution
that will enable an unlimited number of value-added services
(“VAS”) and support the adoption of Ethereum in the enterprise.
The EEA seeks to augment Ethereum adoption as an
enterprise-grade technology, with research and development focused
on privacy, confidentiality, scalability and security. Net
Element is developing a decentralized crypto-based ecosystem to act
as a framework for a number of value-added services that can
connect merchants and consumers directly, via blockchain
technology, while increasing the economic efficiency of all
transactions conducted within the ecosystem.
Part of this initiative is the Company’s recently launched
Netevia platform which delivers end-to-end multi-channel payment
processing through easy-to-use APIs, point-of-sale (“POS”),
e-commerce and mobile devices. Netevia’s blockchain solution,
code-named “VIA Protocol,” is currently under development and is
intended to enable new billing methodologies over the blockchain as
well as create dynamic service offerings such as rewards, loyalty
and one-click payments.
“EEA’s rapid growth in membership mirrors the accelerating
acceptance and deployment of Ethereum blockchain solutions in the
global marketplace,” says Julio Faura, EEA’s chairman of the board.
“The technological breadth, depth and variety of organizations
coming together under the auspices of EEA to create and drive
enterprise Ethereum standards bodes well for the future development
of the next-generation Ethereum ecosystem.”
“We are excited to be a part of the Ethereum Alliance, which
connects Fortune 500 enterprises, startups, academics and
technology vendors with Ethereum subject matter experts,” comments
Net Element CEO Oleg Firer. “We look forward to leveraging the EEA
network as we build more value for our community by developing our
blockchain ecosystem for value-added services.”
“Net Element is focused on delivering value-added solutions for
our community as we develop decentralized blockchain solutions to
connect merchants and consumers. Alongside leading global
enterprises, such as Microsoft, Intel, JPMorgan, Samsung, ING,
MasterCard, Thomson Reuters, Cisco Systems, and others, we have
partnered with EEA to establish clear roadmap, robust governance
model, and useful Ethereum resources.”
About The Enterprise Ethereum AllianceThe EEA
is an industry-supported, not-for-profit established to build,
promote, and broadly support Ethereum-based technology best
practices, open standards, and open-source reference architectures.
The EEA is helping to evolve Ethereum into an enterprise-grade
technology, providing research and development in a range of areas,
including privacy, confidentiality, scalability, and security. The
EEA is also investigating hybrid architectures that span both
permissioned and public Ethereum networks as well as
industry-specific application layer working groups.
EEA will collectively develop open industry standards and
facilitate collaboration with its member base and is open to any
members of the Ethereum community who wish to participate. This
open-source framework will enable the mass adoption at a depth and
breadth otherwise unachievable in individual corporate silos and
provide insight to the future of scalability, privacy, and
confidentiality of the public Ethereum permissionless network.
Further information is available at www.entethalliance.org.
About Net ElementNet Element, Inc. (NASDAQ:
NETE) operates a payments-as-a-service transactional and
value-added services platform for small to medium enterprise
("SME") in the U.S. and selected emerging markets. In the U.S. it
aims to grow transactional revenue by innovating SME productivity
services using blockchain technology solutions and Aptito, our
cloud based, restaurant and retail point-of-sale solution.
Internationally, Net Element's strategy is to leverage its
omni-channel platform to deliver flexible offerings to emerging
markets with diverse banking, regulatory and demographic
conditions. Net Element was ranked as one of the fastest growing
companies in North America on Deloitte's 2017 Technology Fast 500™.
In 2017 we were recognized by South Florida Business
Journal's as one of 2016's fastest growing technology companies.
Further information is available at www.netelement.com.
Forward-Looking StatementsSecurities Exchange
Act of 1934, as amended. Any statements contained in this press
release that are not statements of historical fact may be deemed
forward-looking statements. Words such as "continue," "will,"
"may," "could," "should," "expect," "expected," "plans," "intend,"
"anticipate," "believe," "estimate," "predict," "potential," and
similar expressions are intended to identify such forward-looking
statements. All forward-looking statements involve significant
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements, many of which are generally outside the control of Net
Element and are difficult to predict. Examples of such risks and
uncertainties include, but are not limited to the timing of
completion of new features for the Netevia platform, whether
contemplated projects and the utilization of blockchain technology
will be successful, whether the addition of blockchain
technology-focused payment processing solutions business will
become a framework for multiple value-added services, whether the
Company will be successful in expansion and growth endeavors; and
even if it is successful in any or all of these endeavors, whether
this will positively impact the Company or result in improved
shareholder value. Additional examples of such risks and
uncertainties are: (i) Net Element's ability (or inability) to
obtain additional financing in sufficient amounts or on acceptable
terms when needed; (ii) Net Element's ability to maintain existing,
and secure additional, contracts with users of its payment
processing services; (iii) Net Element's ability to successfully
expand in existing markets and enter new markets; (iv) Net
Element's ability to successfully manage and integrate any
acquisitions of businesses, solutions or technologies; (v)
unanticipated operating costs, transaction costs and actual or
contingent liabilities; (vi) the ability to attract and retain
qualified employees and key personnel; (vii) adverse effects of
increased competition on Net Element's business; (viii) changes in
government licensing and regulation that may adversely affect Net
Element's business; (ix) the risk that changes in consumer behavior
could adversely affect Net Element's business; (x) Net Element's
ability to protect its intellectual property; (xi) local, industry
and general business and economic conditions; (xii) adverse effects
of potentially deteriorating U.S.-Russia relations, including,
without limitation, over a conflict related to Ukraine, including a
risk of further U.S. government sanctions or other legal
restrictions on U.S. businesses doing business in Russia.
Additional factors that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements can be found in the most recent annual report on Form
10-K, quarterly reports on Form 10-Q and current reports on Form
8-K filed by Net Element with the Securities and Exchange
Commission. Net Element anticipates that subsequent events and
developments may cause its plans, intentions and expectations to
change. Net Element assumes no obligation, and it specifically
disclaims any intention or obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
law.
Net Element, Inc.
1-786-923-0502
media@netelement.com
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