IFRIC: Cryptos are Intangible Assets, SmartStream Technologies Adopts AI & ML Tech and more news

IFRIC: Cryptos are Intangible Assets, SmartStream Technologies Adopts AI & ML Tech and more news

The last week observed a few ups and downs in diverse global industries. JSB Market Research’s new ThrowbackThursday series is a new weekly update for its readers. Now, get a closer view of the market every week! 

NEXT Biometrics Receives $100,000 order for fingerprint sensors

NEXT Biometrics has got the order worth  $100,000 for its fingerprint sensors. Fingerprint sensor will be fused into a biometric smart card reader. NEXT expects to dispatch the order by late 2019 or next year. NEXT is the growing company in the biometrics market.

FinTech company, Neon, to expand its mobile banking 

Zurich based FinTech company, Neon, has raised $5 million to broaden its mobile banking solutions. Several ventures in the market have started increasing their investments in Neon.

IFRIC : Cryptocurrencies are “Intangible Assets”

IFRIC recent announcement disclosed that cryptocurrencies such as bitcoins are neither cash nor equity instruments, they are intangible assets. This claim will hamper the market of the countries which follow the IFRS standards. The decision will entitle regulatory authorities to establish a legally sound structure for taxing cryptocurrency businesses and legitimizing them. 

Rehabilitation of Nigerian oil refineries by 2020 

Largest oil and gas producer of Africa, Nigeria is set to rehabilitate its four oil refineries by 2020 to sustain its oil refining capacity. The gesture will push the oil industry in Africa.

SmartStream technologies implements AI and machine learning Tech

SmartStream Technologies is set to implement Artificial Intelligence algorithms that will benefit business users to lessen their time to manage data and to be less dependent on the operation team. The new launched  SmartStream Air is globally accessible and can produce accurate results.

– Written by Supriya Khedekar

Business Writer

JSB Market Research

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