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TE FOOD- Possible Path Breaker In The Blockchain Space

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73% of top olive oil brands fail to meet the standard test to carry ‘Extra Virgin’ in the label.  There were over 95 seizures of counterfeit extra virgin olive oil cases in Italy alone. Imagine what you place trust on might be a fake product and you might be paying premium for a fake. TE food will ensure what you are eating.

You might be paying premium for a fake.

Similar stories surround organic beef, organic green tea, etc. etc.

Consumers do not have an authentic way to verify that what they are paying for is a genuine product or not, and businesses cannot curb the middle men from switching their products with fake ones.

Counterfeit is a big problem.

Especially in fresh, health and specialty food area.  Because of the nature of the problem, blockchain technology is placed in a unique place to offer solution.   Since this is such a vast problem area, there have been more than one solution that emerged in the blockchain space.  One of them is a favorite of ours, VeChain.  However, this article is not about VeChain, it is about TE-Food that is specifically targeting to track and trace food from “farm to table”.

  • Product
  • Team
  • Business Partnerships
  • Marketcap and token economics
  • Competition and caveat
  1. Product: TE Food is a farm-to-table food trace-ability solution.  “TE-FOOD covers all logistics and food quality activities and data management of the supply chain. It provides cost effective software and identification tools to make livestock and fresh food supply information transparent.”

There are many blockchain products in the supply chain management including Wabi, Waltconchain, Ambrosus, Modum, etc.

While most of these projects have great teams and/or hype in the market, their products are still waiting to be developed, launched or adopted.  In other words, most of these projects entered into ICOs to raise capital to ‘start’ the blockchain technology solution.

TE Food is different.  They got into ICO to ‘expand’ their existing business model that has been in operation since 2015 (parent company was established in 1996).

Key term is here is ‘expand’.  TE Food has already showed its mettle in offering a solution in the supply chain ecosystem.  They are moving their current working model onto blockchain to offer even more immutability to their tracing and tracking solution.

Moving onto a blockchain platform will also change TE Food’s existing centralized business model into a decentralized one, in addition, they are going to add features such as food safety sensor tools, animal face recognition (!) and fresh food marketplace to the existing business model.  Below chart shows a quick snapshot of what ICO proceeds will help TE Food with.

TE Food already has B2B and B2C mobile apps and have trained over 10,000 people in a single year to use the app at various source points.  While most of the existing platforms are targeting business or consumers or both, it aims to bring farmers, supply chain vendors, government authorities and consumers onto single platform.

In addition, it is looking to integrate and share the deep learning data back with Farmers, producers, vendors and other entities.  One such step is already initiated where it is going to share the Deep Analysis data back with Farmers so that they can increase their production by 20% without any additional cost.

TE Food aims to bring farmers, supply chain vendors, government authorities and consumers onto single platform.

Advantages of this Deep Analysis system are listed below.

Many existing blockchain platforms that are aiming supply chain industry are heavily focused on helping businesses and/or vendors.  There are few (like Wabi) that are focusing on consumers.  However, it is an end to end solution that is targeting everyone in the farm-to-table ecosystem, including consumers.  Consumers can get extensive data from the app, listed below:

This data is absolutely essential but currently inaccessible for anyone who cares about their and their loved ones health.  TE Food promises to make this information accessible by simply scanning a QR code from within App.

 

 

This data is absolutely essential but currently inaccessible for anyone who cares about their and their loved ones health.

Here is a quick snapshot of TE Food compared to other existing blockchains in the supply chain space.

te food

2.Team: What TE food has on its road map and the competition that it has to deal with takes a lot of expertise.

 The founding company behind it, Erba 96 Ltd has previous experience in various projects, including:

  • Utility cheque payment solution
  • Airport fast track payment solution
  • Road Tolling solution
  • Loyalty Card solution

TE Food’s team includes two CEOs, Dr. Trung Dao Ha and Erik Arokszallasi.  Both have extensive business experience in founding and running successful companies.  They have a combined experience of over 4 decades.

They have food safety experts, blockchain experts and infrastructure experts on their team.

TE Food expert

te food

te food

3.Business and partnerships: Each of the listed partnerships of TE Food serve a specific purpose.

It already has an existing business relationship with 6000 companies.  They have trained over 10,000 individuals in a single year to help greater adoption and have been serving over 34 million consumers.  Their site shows multiple existing partnerships and their Medium blog is constantly updated with more updated partnerships (look at sources section at the end).

  • Nongshim Data System will be a sales and implementation partner of TE-FOOD.
  • TE-Food’s technology will be utilized on two pilot projects in June 2018 by Halal Trails, a UK based company.
  • GS1: “GS1 is a not-for-profit organisation operating worldwide, that develops and maintains global standards for business communication. GS1 barcodes are scanned more than six billion times every day”
  • Telenorma: Telenorma AG is a trusted solution provider in the German retail sector. Telenorma will implement TE-FOOD’s traceability system in Germany for retail companies.
  • Sankofa: Agricultural consulting and project management firm Sankofa Ltd. represents TE-FOOD’s livestock and fresh food traceability solution in the French-speaking countries of West Africa.
  • Unisto: a Switzerland based international manufacturer of security seals. Unisto Malaysia manufactures TE-FOOD’s high quality seals.
  • Zalo.me is a free messaging mobile application with 70 million users. TE-FOOD’s QR codes can be read by the Zalo app to view the food product’s history.
  • Laurel is the largest retail technology solution provider in Hungary. They are a sales and implementation partner of TE-FOOD.

4. Marketcap and Token Economics: Thanks to the recent bear market, along with drop in ETH price, TE Food token has been selling at around 60% of ICO price, since price of TE was pegged in USD during ICO. This has put TE Food’s market cap below the ICO hard cap.

Token will have two economy models.

One model requires a valid license which is made up of certain number of tokens which varies by country.  These licenses are then divided into sub-licenses.  What this means is, for every one utilizing TE Food solution (which includes Farmers to consumers and everyone in between in the supply chain ecosystem) will need to have TE food tokens.

When the TE Food blockchain is fully implemented, their existing 6000 Companies and 34 million consumer base itself should contribute to a natural demand for TE Food tokens.

  • 6000 Companies and future onboarding
  • 34 Million existing consumer base and future additions
  • Farmers
  • Livestock agents
  • Retailers
  • Wholesale distributors

All of these players will have to get hands on a certain amount of TE Food tokens.  Companies, at the forefront, will need to gain access to a bigger share of tokens to utilize the tracking services.

Second model of the token will be TFS which is their transaction token model.  This is in concept and more details will be made available.

From a pure price perspective, TE Food is trading at 2.6 to 2.8 cents today, which is about 50% of the ICO price (ICO price was 5 cents). Another factor that adds to TE Food’s call is that it is not on any major exchange yet.

If TE Food were to hit 200th rank on Coinmarketcap at this bear market levels, it will need to grow 4 times. If it reaches top 100 rank, it will have multiplied 12 times.  Remember, these are projections at the current bear market.

TE Food has already established in Vietnam and has started business in Italy and Africa. We expect to see a lot more expansion in the coming years and a natural increase in demand for its tokens.

Another factor that adds to TE Food’s call is that it is not on any major exchange yet.

5. Competition and Caveat: While there is no other project (not taking VeChain into consideration) with a farm-to-table end to end solution and a working product on the market, there are many existing players in the blockchain supply chain space.

While competition is fierce, if TE Food manages to convert its existing clientele and user base to make use of TE Food tokens, then that will be a fabulous start. Adding more clientele in the new expanded locations will help as well.

A turn off for most newbies in the crypto space is patience and for TE Food to show its full potential will need longer than 6 months or even a year (look at the HODL period).  This might turn away the newbies that dream of riding crypto lambos overnight.  For more veteran and learned crypto folks, TE Food showcases all the traits of a long-term HODL project.

Project: TE-Food (te-food.com)

Symbol: TFD (please always double check symbol)

Price Today: 2.5 cents

Trading on: IDEX

Buy price: visit QRIP page to view

HODL period: visit QRIP page to view

HODL gain anticipated: visit QRIP page to view

Whitepaper: https://ico.tefoodint.com/te-food-white-paper.pdf

Sources:

https://ico.tefoodint.com/te-food-white-paper.pdf

https://www.youtube.com/watch?v=qot-VCUgpng

https://medium.com/te-food

https://ico.tefoodint.com/solution.html

https://www.youtube.com/watch?v=3whNlGtQYI0

Thank you for reading the article.
Subscriber-Banner-smallIMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new blockchain technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.”  Of course, that is just his opinion.

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6 Massive Benefits of Cryptocurrency

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Benefits of Cryptocurrency

It is normal to be hesitant about using cryptocurrency as the medium of financial transactions. 

There is a school of thought which believes, it is a domain suitable for criminals, fraudsters, and terrorists. Cryptocurrencies allow them to maintain anonymity for discreet transactions and ransomware scams.

However, the increasing acceptance of Bitcoin as a digital currency has initiated a positive perspective around this mode. It brings a distinct set of pros for the users, making them overlook the risks tag along.

According to the Finder, a post on social media surfaces about Bitcoin every three seconds. If we do the math, it means 1203 posts pop up per hour, making it to 20 posts per minute.

A more general view on the crypto landscape speaks of its overall growth, too. Block Social tells us how cryptocurrency exchanges around the globe have exceeded 300 during 2020.

In fact, the success of crypto shows us the loopholes of the traditional banking system. If you, too, want to leap on this bandwagon and aren’t sure about your next move, this is the right place. Our blog sheds light on the positive aspects of cryptocurrency that make it a more established form of financial trade. 

Healthereum

1. Easy transactions

When dealing with brokers or legal representatives, you have to pay the transaction fee from time to time. This comes along with immense paperwork, commission, brokerage charges, and so much more. Using cryptocurrency eliminates the need for a middle man. The transaction changes into a one-to-one affair taking place on a secure network.

No wonder Forbes stated that adopting blockchain technology can save financial organizations around $12 billion yearly. A deduction of extra charges from third parties and reduced operations cost is saving millions for huge organizations.

Moreover, the transactions are transparent, making it easier for you to establish audit trials. There is no more confusion over who pays whom. All parties involved in the transaction know each other quite well. Accountability on each party grows.

2. Asset transfers

A financial analyst rightfully describes cryptocurrency blockchain to be a “large property rights database.” On the one hand, it helps execute and enforce two-party contracts on commodities such as real estate and automobiles. At the same time, it also facilitates special modes of transfer. 

As per Born2Invest, Bitcoin alone is responsible for an average of 350 000 daily transactions on the Blockchain. Meanwhile, Coinbase has 30 million cryptocurrency users (Block Social). The increasing figures of each crypto speak of its acceptance worldwide.

The parties involved in asset transfer can design contracts and add third-party approvals at a later date. It also helps to reference the external facts and gives the parties exclusive governance of their account. It reduces the time and money involved in asset transfers. Perhaps this is why US federal government spending on Blockchain shall reach $123.5 million by 2022.

3. Confidential transactions

Cryptocurrency purchases remain discreet. Unless a user voluntarily publishes his transactions, the purchase is never associated with their identity. In official scenarios, such as when you put your cars for sale, the parties must reveal an association with their cryptocurrencies. It helps to establish trust and relevance.

Within the cash/credit system, your entire transaction history turns into a reference document for the banks/credit agencies involved. On the contrary, cryptocurrency is a transaction that is a unique exchange between two parties. They can negotiate and agree on preferable terms. The information exchange takes place on the “push” basis. This means you transmit only that which you wish to send to the recipient and nothing else.

It keeps your financial history secure and guards you against identity theft. Chances of which are quite high under the traditional transaction system. 

On top of this, the combination of Blockchain with IoT is considered revolutionary by the experts. This has accelerated data exchange, lowering the operation costs, and improved the security of files. Your Tech Diet predicted that 75% of the IoT industry would adopt Blockchain technology by the end of 2020. Lack of exposure is, thus, something the entire industry is looking for.

4. Transaction Fee

You have probably faced hefty monthly account statements from your bank/credit companies. The transaction fee charged at every transaction you have made might leave you shocked. The whopping fee of multiple transactions can take you by surprise at the end of each month.

In the case of cryptocurrency exchange, the data miners receive their share from the cryptocurrency network involved. Transaction fee does not apply as the remote and separate computer systems that do the number-crunching get a pretty fair share. 

According to Investopedia, the Bitcoin reward for miners halves for every 210 000 blocks added to the chain. Nonetheless, this system has freed the transaction parties to pay the fee, making it the most feasible. 

However, there might be some external fee involved if you engage a third-party management service to maintain the crypto wallet. These charges are likely to be quite less than the transaction charges levied by the traditional banking system. 

5. Hold Ownership

The traditional banking system works in a manner where the amount goes to the nominee if a person passes away. The chances of the account closing are quite high when you infringe the terms of their services. Unlike this framework, digital currencies give you the sole ownership of private and public encryption keys. This makes it easier for you to identify the encryption network.

6. High security

Once a party authorizes the cryptocurrency transfer, they cannot reverse it. This is not the case in “charge-back” transactions allowed by the credit companies. Cryptocurrency gives you reliable encryption throughout the transaction process to keep it protected from bugs and malicious entities.

Systems like Binance Smart Chain are enabling people to do more with BTC.

Final Thoughts 

Cryptocurrency is taking the financial world by storm, and we know the reasons why. It is about time you kickstart your digital finances journey and make the most out of it. Who knows what surprises are about to come later in this landscape!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cardano or PolkaDot? Which One to Invest In?

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Cardano vs Polkadot

There is a new battle in the crypto space.  Cardano (ADA) and PolkaDot (DOT) maximalists are headbutting as to which project is better and why.

The conversations are intense to say the least and we will try to provide our view on which one we are leaning toward and the reasons why, in this rather short article.

Just to be clear, we are invested in both ADA and DOT so we have a vested interest in both projects, however, we are now asked to pick one over the other and that brings us to this article.

Decentralization

The whole spirit of cryptocurrencies is the concept of decentralization, however, some of the more popular projects don’t seem to have a grasp of what that means.

Diem (previously Libra) or XRP etc., are controlled by a group for validators who could, in theory, easily collude, in our view.

With DOT, things are not as centralized as some other projects with about 1000 validators securing the platform.

However, ADA has the most number of nodes and has most of its circulating supply staked on its wallet. The community behind ADA has biggest proponents of decentralized frameworks.

ADA: 8 (top 10 is reserved for BTC)

DOT: 6

Team

Cardano boasts the maximum number of Ph.Ds on its team and has a more decentralized team structure.  You have teams that are working exclusively on wallet and staking while you have other teams focusing on interoperability. Yet, another team is focused on bridging projects from Ethereum to Cardano.

DOT has the ammunition of Gavin behind it. He is undoubtedly one of the brilliant minds in the space. 

However, as we learned in basic math, sum total is always greater than an individual unit.  This applies more aptly with these projects. In our opinion, Cardano has a greater edge when it comes to collective human capital.

Having Charles Hoskinson helps ADAs impression.

ADA: 8

DOT: 6

Social presence

There is no competition when it comes to social presence and engaging the community when it comes to the leaders of these two projects.

While DOT’s founder Gavin might come out as eccentric and polished in the social media, Charles takes the cake in engaging with his audience and making things sensible for the community.

ADA: 9 

DOT: 7

On a mission

Whenever you hear Charles speak about ADA you will immediately understand that he is on a mission to bring the marvels of blockchain enabled financial services to all corners of the world.

Cardano’s team is now focused on the South Africa continent to bring the under-previleged onto the world commerce through their platform. They are even close to signing a contract with Ethiopia government in 2021.

While DOT is catapulting the entire space forward it just lacks the same charm that comes with a project on a grandiose mission.

ADA: 8

DOT: 6 

Miscellaneous considerations 

Market cap: ADA has $20 Billion market cap while DOT has $19 Billion, as such they are on par with each other when it comes to valuation. The large cap is a stamp of approval from the crypto community.

Price: ADA is at around 60 cents while DOT has been stabilising at $20 at the time of this writing. When the newbies come to the market and they see they cannot afford Bitcoin or Ethereum, they will most likely go after the projects that are under $1. This does not mean DOT is inferior, it is just an edge that low priced tokens have over higher priced projects. It’s just a newbie mindset that drives higher demand during bull runs to lower priced projects.

Inflationary supply

DOT has an inflationary supply model while ADAs supply is capped.

Yes, DOTs supply is far larger than DOT, however, there is no new minting on ADA when compared to DOT.

Mainnet

DOTs technology is operational and is onboarding projects already.  ADA is scheduled to launch its mainnet this month (Feb 2021). ADA has been in works for many years now and if their product matches the hype and the wait – then it may not matter as much that they are late to the party. However, if there are issues with their mainnet – it may not bode well for ADA.

Conclusion: Total score

ADA: 33

DOT: 25

If you are a DOT fan you might think this score is skewed.   If you are an ADA fan you might think it should score perfect points in all fronts.

In fact, there are some areas where DOT is a clear winner like having a functioning platform. ADA, in our opinion, takes the prize with clear fandom, gigantic mission and a total brainiac project. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Best of the Best YouTube Channels to Follow for your Crypto Fix

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Best Crypto Youtubers

There are literally 100s of crypto-experts on YouTube who claim to have cracked the secret code that can make you millions in crypto riches. 

Who should you follow?  

We have followed many YouTubers, subscribing and unsubscribing to avoid the noise and after having been in this space for over 4 years, we have narrowed our favorite crypto YouTube channels to just a few.

In this article, we will show you our favorite YouTubers and what we like about each one of them. 

Overall number 1: Coin Bureau

coin bureau When it comes to deep analysis, composed demeanor and outright professional crypto channel in the entire space, we have not come across anyone better than Guy.  

Not only is he great at the reviews and in depth analysis, if you have followed the channel long enough you will realize that he reviews the gems long before others pick on the momentum.  

He picks solid projects, never shills a shitty project to his followers and is upfront about his views which he backs up with solid research.

This is the best no-shill and no bull crypto channel on YouTube in our view.

Best original content: Chico Crypto

chico crypto review

If you love a bit of quirky, goofy and somewhat out there viewpoints on the crypto space then there is no one better than Tyler at Chico Crypto. 

His investigation stretches the boundaries of research (and sometimes common sense) but he does do a bang up job on every video.  

I am yet to come across a boring video on this channel.  I will admit that his live streams can be a drag sometimes but his followers seem to relish his presence.

You may not like or agree with what Tyler presents on this channel but you will absolutely be floored by the originality.   

Best TA: TIED: Crypto Capital Venture & Tyler S

                         Crypto Capital Venture Tyler S crypto

With under 90K subscribers at the time of this writing, Dan may not be the most popular of the Crypto channels [yet] but his TA analysis is just so easy to follow.

Dan makes it easy for non-technical folks to understand what’s going on in the market in the language of TA.

There are other folks on YouTube who are good at TA but their videos are so obnoxious that they leave you with a massive headache.  

Not Dan’s Crypto Capital Venture channel.   Dan walks you through the markets in such a calm, composed and professional manner that you might start caring about those candles.

We are forced to share the Best Title for crypto TA on YouTube with Tyler S. 

Tyler’s expertise on TAs is quite awesome and he has a funny way of delivering it too.  

Best expertise on the markets: Alessio Rastani

Allesio RastaniIt doesn’t matter if you are just lurking around the crypto markets or if you trade in the traditional markets…Alessio is one of the best guys on YouTube for great insights into the broad market and its impact on Crypto.

While everyone on YouTube (not the people on this list, of course) is either quick to FOMO or FUD, Alessio is just grounded in fundamentals and technicals.

When you are high on FOMO, he can bring you to the ground.

When you are getting buried in FUD, he can lift you up with facts, not false hopium.

Alessio is personable, professional and an honest guy to follow to understand the markets ahead of others.

Best round up of the market: AltCoin Daily

Altcoin DailyWant to stay up-to-date on what’s happening in the crypto space but don’t have time to keep up?  

Fear not. AltCoin Daily got you covered.

This channel is just a gem among the channels that bring crypto market updates in a concise and palatable format.

You can sense the dedication in the way Austin brings the updates and his opinions in front of his audience. No wonder the channel has recently hit over 420K subscribers.

Best humble and honest take: Crazy 4 Cryptos

Crazy 4 crypto

What does Crypto mean to you?

Most people will say ‘Freedom’, yet, most of the YouTubers we see on the Tube will be broadcasting from their bedrooms or backyards (nothing wrong with that) but not Dave.

He has been in Thailand and streams his videos directly from the beach.

You will immediately connect with his simpleton style and honest reviews.  

He has been touting about Theta when it was trading in cents and now those who followed him are very happy.

Besides Theta, Dave talks about a lot of topics in terms of storing your coins, being careful with people and how to have a long-term plan in space.

Honorable mentions

Team Underground (TA)

We had too many channels to weed out for the TA category and that is why we had to pick two winners, however, Team Underground is a channel we cannot skip.

This underdog channel has been more right about the calls than any other mainstream channel. If you like your TAs and technical side of crypto – be sure to check this channel out.

BitBoy

People either love him or hate him.  There is no middle ground when it comes to BitBoy.  

Personally, we have to weed out a lot of noise while browsing through his channel since he picks a new project every few days (or weeks) and can become overwhelming. 

However, the fresh content is worth the watch.

EllioTraders

The guy behind this channel is truly vested in the space. So much so that he recently launched his own crypto project.

It’s definitely refreshing to see the YouTuber taking his expertise into a live project.  

The reason we did not list this channel on the BEST list is because of the constant feed of projects he pitches that is a bit overbearing for our taste.  

Nevertheless, a great channel and great recommendations.

Conclusion

There are 100s of YouTube channels out there but not everyone is worth your attention. We hope you found some channels of interest through this article.

Note: if we missed any gem of a channel, please let us know and we will be more than happy to add it after review.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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