🚀 California Judge Dismisses Class Action Against Dfinity Foundation
#California #Judge #Dismisses #ClassAction #DfinityFoundation #ICPTokens #SecuritiesLaw #StatuteOfLimitations #Investors #CourtRuling
According to Odaily, a federal judge in California has dismissed a class action lawsuit against the Dfinity Foundation, the developer of ICP tokens. U.S. District Court Judge James Donato granted Dfinity's motion to dismiss, ruling that the case was "time-barred" due to exceeding the three-year statute of limitations under securities law. The court supported Dfinity's argument that the initial public offering of ICP tokens occurred in February 2017, making the investor lawsuit filed in August 2021 beyond the legal timeframe. The plaintiffs, represented by Freedman Normand Friedland LLP, formerly known as Roche Freedman, did not respond to the defendant's argument. Consequently, Judge Donato stated that dismissing these claims due to the expiration of the statute of limitations was "appropriate."#California #Judge #Dismisses #ClassAction #DfinityFoundation #ICPTokens #SecuritiesLaw #StatuteOfLimitations #Investors #CourtRuling
🚀 DFINITY Foundation Partners with Pakistan for Sovereign Cloud Infrastructure
#DFINITYFoundation #Pakistan #SovereignCloud #AIapplications #Cybersecurity #DigitalSovereignty #InternetComputer #GenerativeAI #CaffeineAI #DigitalTransformation #NationalMessengerService #PrivacyProtection #DigitalAssets #AItechnology #SovereignInfrastructure #ICP
DFINITY Foundation has announced a memorandum of understanding with the Pakistani government to establish sovereign cloud infrastructure on the Internet Computer network. According to PANews, this collaboration aims to develop generative AI applications and create a secure national communication system.
The partnership includes the creation of the Pakistan Subnet, a serverless cloud immune to cyberattacks, with data and computing resources retained within Pakistan. This initiative is designed to prepare for the future of AI software development and operation.
Additionally, Pakistan will receive 1,500 initial Caffeine AI licenses to support government, academia, private sector, and startups in interacting with AI through natural language on the Pakistan Subnet, accelerating digital transformation.
A National Messenger Service will also be developed, based on sovereign Internet Computer infrastructure, incorporating verified digital identity technology to support privacy protection and digital asset transfer.
DFINITY will establish a branch in Pakistan to assist the government, academia, and developers in using AI to develop sovereign applications and promote Internet Computer technology. This initiative aims to help Pakistan achieve digital sovereignty, advance AI technology, and build infrastructure designed for the AI era, ensuring security, verifiability, and national control.#DFINITYFoundation #Pakistan #SovereignCloud #AIapplications #Cybersecurity #DigitalSovereignty #InternetComputer #GenerativeAI #CaffeineAI #DigitalTransformation #NationalMessengerService #PrivacyProtection #DigitalAssets #AItechnology #SovereignInfrastructure #ICP
🚀 DFINITY Foundation Revises Internet Computer Economics to Boost European Enterprise Interest
#DFINITYFoundation #InternetComputer #EconomicsUpdate #NodeProviders #ICPtokens #EuropeanEnterprise #CloudEngineRevenue #MarketCapitalization #BWEnews
The DFINITY Foundation has announced updates to the economic model of the Internet Computer. According to BWEnews, the revised model allocates 80% of cloud engine revenue to node providers, while the remaining 20% is used to burn ICP tokens. This strategic move aims to enhance interest among enterprises in Europe. The Internet Computer's market capitalization currently stands at $1,205 million.#DFINITYFoundation #InternetComputer #EconomicsUpdate #NodeProviders #ICPtokens #EuropeanEnterprise #CloudEngineRevenue #MarketCapitalization #BWEnews