June continued to be a month of essential milestones for TAAL as we welcomed nine new clients to our transaction processing business, supporting the 5-year strategic plan that places transaction processing at the core of our business. We also upgraded our data size to process larger transactions up to 10 MB, allowing single transactions to scale with business and enterprise adoption and demand.
With many more noteworthy achievements and exciting announcements to come in the next few months, we wanted to look back on June’s successes to share with you.
We entered a definitive agreement with Codugh
On June 5th, TAAL announced a partnership with an Australian technology company, Codugh, an on-demand application programming interface (“API”) marketplace that incentivises developers globally to post and compensate for their APIs. The partnership consists of a definitive share purchase and equity financing agreement and development agreement and the acquisition of 20% of Codugh, in which the proceeds will be used to further develop, launch, and scale TAAL’s products and platform.
We upgraded our data size to support the growing demand for processing larger transactions
After Bitcoin SV processed two of its largest data transactions ever, at 5.8MB and 9.74MB, respectively, in early June, TAAL increased blockchain support by increasing the data size of transactions that TAAL clients can send instantly via M/API to 10MB. The upgrade to 10MB for individual transactions promotes new blockchain-based data processing, storage, and retrieval solutions developed on BSV, supporting TAAL’s 5-year strategic vision. Along with a high volume of data to be processed through transactions, they can also scale with fewer limitations and restrictions.
We announced our 2020 first-quarter financial results
Released on June 17th, the first quarter financial results showed the continued growth of revenue driven by granting access to and utilizing various proprietary products, platforms, licenses and services, and continuing to add to these product offerings. The 2020 first-quarter highlights include a gross revenue of $5,968,504 from digital asset mining, fleet management services, and software development and licensing. This also reflects a decline in digital assets’ market price in line with the global effect of the COVID-19 pandemic on many industries. You can find a full list of our 2020 first-quarter financial results here.
We welcomed nine new clients to our transaction processing business
TAAL announced new clients’ engagement across several blockchain industries, who will benefit from TAAL’s customized transaction processing solutions, and executes on TAAL’s five-year strategic vision. These new clients include:
- MoneyButton – A simple P2P payment system.
- Unisot – A revolutionary enterprise blockchain service provider for global supply chains.
- HandCash – A user-friendly Bitcoin wallet.
- MetaSV – A blockchain explorer and cloud computing provider for BitcoinSV.
These new clients’ engagement demonstrates TAAL’s leadership in becoming a complete solution for businesses building on BSV.
TAAL continues strategic vision execution and investment in the future of blockchain technology
June saw several key milestones, including accelerated growth propelled by transaction-processing, investment and upgrades in blockchain technology, and revenue that will help support and push the boundaries of TAAL’s strategic vision.