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Lightspark Announces UMA Auth, UMA Request, Updates to Extend and Spark at Lightspark Sync

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LOS ANGELES, Oct. 25, 2024 /PRNewswire/ — Yesterday, in Los Angeles, Lightspark hosted its first Partner Summit—Lightspark Sync.

Lightspark announced:

Two new foundational capabilities for UMA – UMA Auth and UMA RequestOne Lightspark product update – Lightspark Extend for UMASpark: A new open-source Bitcoin Layer 2, Lightning-compatible solution for stablecoins and self-custodial wallets

Lightspark is building the fastest global open payment network on Bitcoin. Their products simplify, streamline, and modernize the flow of global payments, whether using fiat currencies, stablecoins, or bitcoin.

Exciting updates for the Universal Money Address (UMA). UMA is an open-source messaging standard built on LNURL. Think of it as email but for money. It’s a solution that enables transactions in fiat currency, stablecoin, or form of value that any human, business, or AI agent needs to move or exchange in real-time.

By the end of 2024, Lightspark estimates their partners will unlock UMA for nearly 300 million customers in 140 countries and 100 currencies.

UMA Auth is like OAuth for money. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

It’s an open standard built on Nostr Wallet Connect that enables UMA-enabled wallets to delegate the push and pull of money with limits set by the user. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

Even in today’s digital economy, payments on commerce platforms, content services, and messaging applications are challenging. Payment integrations can be complicated, taking up valuable development time and resources that can be used elsewhere. High transaction fees can eat into profits, and slow settlement times frustrate users and create risk. International payments add another level of complexity. These problems have been holding businesses back for far too long. UMA Auth solves many of these problems while providing users with easy linking to their existing financial apps and wallets.

At its core, UMA Auth is a two-way connection between platforms and their users’ UMA-enabled wallets.  It takes the great features of OAuth and applies them to the world of UMA payments, making secure authorization easier. Now, users can log in to their wallets and authorize UMA payments using familiar set-up experiences. Users can control what applications can access their wallets, specify permitted actions, and set spending limits for each application.  The potential use cases are far-reaching – UMA Auth enables bank accounts or wallets to be connected to messaging and email apps; for example, users can make payments to content creators (no matter where they are) with live tipping or recurring payments and subscriptions. Like Oauth, UMA Auth does not require platform partners to be in the flow of funds but, instead provides a seamless payment experience for users with the UMA-enabled wallet of their choice.

UMA Auth is built using Nostr Wallet Connect, a secure, open protocol that’s gained significant traction in the Nostr and Lightning communities and simplifies connecting wallets to apps. Lightspark worked with the Nostr community and the team at Alby to build on the protocol, extending Nostr Wallet Connect to support UMA features. Some new key enhancements Lightspark has proposed are cross-currency support and client app registration.

UMA Auth brings a new level of innovation to Lightning, making payments more open, interoperable, and user-friendly. It’s a big step forward in building a payment ecosystem that puts users first and opens up many possibilities for peer-to-peer transactions. Lightspark released SDKs that make it incredibly easy for businesses to integrate UMA Auth into their applications.

UMA Request. Built for UMA, this will allow any business or UMA-enabled wallet to request a payment from another wallet on the network. UMA invoices and payment requests will transform transactions for both businesses and individuals. Merchants or service providers can now quickly request customer payments by creating a one-time invoice for a product or service. This invoice can be paid multiple times, making it incredibly flexible for the business and the end users. One of the standout features of this system is that it provides proof of payment, ensuring that both parties have a clear record of the transaction. UMA Request is versatile enough to handle a variety of use cases. Whether requesting payments from friends for a shared expense, managing merchant checkouts, or handling bills from service providers, UMA Request provides a simple and effective way to facilitate transactions across different scenarios.

Lightspark Extend This is a significant step forward, enabling Lightning payouts to bank accounts over domestic payment rails. It reduces transaction times and costs and simplifies payments. Companies can pay out users at their preferred endpoints with instant, seamless fiat currency transfers from local bank accounts to any eligible account in the user’s chosen currency. In the United States, users can instantly receive USD from a Real-Time Payments-enabled local bank account. Lightspark Extend for the US and Mexico will be available by the end of the year, and Brazil will quickly follow. Lightspark Extend offers competitive pricing and unparalleled efficiency for businesses and individuals to send payments, ensuring that moving funds is faster and more cost-effective than ever.

INTRODUCING SPARK –
A SOLUTION FOR STABLECOINS AND SELF-CUSTODY ON BITCOIN
Lightspark believes the future of payments must be on the most open, neutral, and decentralized network and should also enable all use cases – from non-custodial wallets to stablecoins. Spark is a new, payments-focused, high-performance, open-source, scaleable Bitcoin Layer 2. It extends Bitcoin and Lightning and enables self-custodial wallets to send and receive real-time payments at virtually no cost. Spark also supports tokens such as stablecoins, making it the most comprehensive open payment network built on Bitcoin.

Lightspark is committed to powering a new generation of payment solutions. Their products are built with regulated financial service firms in mind. They offer tools for direct, secure messaging between payment counterparties so that their partners can support a range of customer payment experiences and address risk management, AML/CFT, sanctions, travel rules, and other requirements.

Media Contact
press@lightspark.com

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The online sports coaching platforms market to grow by USD 1.24 Billion from 2024-2028, driven by athlete involvement and AI-powered market transformation- Technavio

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7 mins ago

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October 25, 2024

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NEW YORK, Oct. 25, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Online Sports Coaching Platforms Market size is estimated to grow by USD 1.24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  14.07%  during the forecast period. Involvement of athletes and sportspersons in online sports coaching platforms is driving market growth, with a trend towards increasing internet penetration. However, availability of substitutes for online sports coaching platforms  poses a challenge.Key market players include Actiquest Inc., Athletic Mentors, Coachbox, Coaching.com, CoachIQ, CoachNow, EDGE10 Group, Famous NYC Inc., FitSW Inc., FRONT RUSH LLC, GamePlanner Ltd., Netplay Sports Pvt Ltd, Online Sports Academy, Qridi Ltd, Sideline Sports, Siliconcoach, Simply Coach, SPORT.XYZ INC, Sporthood, Sportlyzer LLC, Sports Guru Tech India Private Ltd., SportsShare, TeamBuildr LLC , and TrainingPeaks LLC.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Online Sports Coaching Platforms Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 14.07%

Market growth 2024-2028

USD 1244.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.2

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 48%

Key countries

US, China, and Japan

Key companies profiled

Actiquest Inc., Athletic Mentors, Coachbox, Coaching.com, CoachIQ, CoachNow, EDGE10 Group, Famous NYC Inc., FitSW Inc., FRONT RUSH LLC, GamePlanner Ltd., Netplay Sports Pvt Ltd, Online Sports Academy, Qridi Ltd, Sideline Sports, Siliconcoach, Simply Coach, SPORT.XYZ INC, Sporthood, Sportlyzer LLC, Sports Guru Tech India Private Ltd., SportsShare, TeamBuildr LLC , and TrainingPeaks LLC

Market Driver

Online coaching platforms in the sports industry have gained significant traction due to the expanding Internet access worldwide. With over 5.44 billion Internet users in 2023, representing 67.1% of the global population, these platforms offer unparalleled accessibility for athletes and fitness enthusiasts. Advanced technologies like AI, machine learning, and data analytics have been integrated into these platforms, enabling real-time performance monitoring and personalized training programs. The sports industry’s digital transformation is accelerating, as more coaches and athletes recognize the benefits of online platforms. Enhanced Internet connectivity supports this shift, making it easier for users to access resources, training modules, and performance analytics online. By 2030, the number of Internet users is expected to reach over 7.5 billion, fueling the growth of the global online sports coaching market.

The sports coaching market is booming with the rise of digital platforms. Sports coaching platforms provide teams and athletes with technology-driven solutions for virtual coaching sessions, video lectures, and educational materials. Performance tracking is a key feature, utilizing biometric sensors, wearable technology, and video analysis. AI and athlete data are used for sports analytics and personalized training plans. Coaches can offer one-time licensed or subscription-based models to reach a wider audience, including professional and non-professional athletes in soccer, basketball, swimming, baseball, and more. Platforms support various coaching methods such as autocratic, democratic, holistic, and athlete-centered techniques. Interactive learning, gamification, and cloud-based solutions enhance the online training experience. Wearable devices like Fitbit trackers and smartwatches are integrated for real-time monitoring and analysis.

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Market Challenges

The global online sports coaching market faces substantial competition from various alternatives, including traditional in-person coaching, free online content, self-directed training, wearable fitness devices, smart home gym equipment, local gyms, and community sports programs. These options provide athletes with diverse choices, making the market highly competitive. Free workout videos, training plans, and sports tutorials on platforms like YouTube and social media offer a cost-effective alternative. Wearable fitness devices and smart home gym equipment often include coaching features, potentially reducing the need for separate online coaching services. Local gyms and community sports programs offer personalized attention and hands-on guidance, appealing to some athletes. The increasing sophistication of AI-powered fitness apps with automated coaching erodes the perceived value of human-led online coaching. This array of alternatives puts pressure on online coaching platforms to differentiate their offerings and demonstrate clear value propositions to attract and retain users. Consequently, the availability of these substitutes will limit the growth of the global online sports coaching platforms market during the forecast period.The online sports coaching market is growing rapidly, offering various solutions for professionals and non-professionals alike. Biomechanics, training history, and performance metrics are key challenges for coaches, requiring advanced digital tools. Gamification, interactive learning, and wearable technologies enhance user experience. Cloud-based solutions offer accessibility, while sports analytics provides valuable insights. Soccer, basketball, swimming, and baseball coaches use digital coaching tools, AI, and fitness trackers like Fitbit or smartwatches with inbuilt sensors. One-time licensed and subscription-based models cater to different needs. Coaches employ autocratic, democratic, holistic, and athlete-centered methods, leveraging online training platforms. Wearable devices and cloud-based solutions enable real-time monitoring and analysis, improving overall performance.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This online sports coaching platforms market report extensively covers market segmentation by

Platform 1.1 Mobile apps1.2 Web-based platforms1.3 Hybrid platformsService Type2.1 Personal coaching2.2 Group coaching2.3 Skill development2.4 Fitness and conditioningGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Mobile apps-  Mobile coaching apps have transformed the way athletes access training and guidance, with two main types catering to diverse fitness needs. Dedicated sports coaching apps, designed specifically for sports training, provide features such as video analysis, workout plans, and progress tracking. Multi-purpose fitness apps, on the other hand, offer a holistic approach to health and wellness with a range of workout routines, nutrition advice, and lifestyle tracking tools. Both types of apps have experienced significant demand due to their convenience, personalization, and expert guidance. Dedicated apps cater to athletes seeking specialized training, while multi-purpose apps appeal to those with diverse fitness goals. With advanced features like video demonstrations, performance tracking, and real-time feedback, mobile coaching apps bridge the gap between professional instruction and self-directed practice, making them an essential tool for athletes of all levels. The future looks promising for these apps as technology continues to advance, further enhancing the sports training experience and fueling the growth of the global online sports coaching platforms market.

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Research Analysis

The Online Sports Coaching Platforms market refers to digital platforms that provide sports coaching services using technology. These platforms offer various features such as video lectures, educational materials, virtual coaching sessions, and cloud-based solutions for athletes, both professional and non-professional. The technology enables real-time feedback and analysis using artificial intelligence and fitness trackers like Fitbit and smartwatches with inbuilt sensors. The coaching methods range from autocratic, democratic, holistic, and athlete-centered techniques. Soccer, Basketball, Swimming, and other sports benefit from these platforms. One-time licensed and subscription-based models cater to diverse needs. Online training enhances accessibility and flexibility, making it an attractive alternative to traditional coaching methods.

Market Research Overview

Online sports coaching platforms are digital solutions that leverage technology to provide athletes with access to coaches, educational materials, and performance tracking tools. These platforms offer video lectures, virtual coaching sessions, and interactive learning experiences. Athletes can benefit from biometric sensors, wearable technology, and video analysis to optimize their training and performance. AI and sports analytics are integral parts of these platforms, providing personalized training plans based on athlete data, biomechanics, training history, and performance metrics. Gamification and cloud-based solutions add to the engagement and convenience of online training. Both professional and non-professional athletes can access these platforms through a one-time licensed or subscription-based model. Sports covered include soccer, basketball, swimming, baseball, and more. Coaching methods range from autocratic to democratic, holistic, and athlete-centered, with wearable devices like Fitbit trackers and smartwatches enhancing the training experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

PlatformMobile AppsWeb-based PlatformsHybrid PlatformsService TypePersonal CoachingGroup CoachingSkill DevelopmentFitness And ConditioningGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Pharos Announces $5M Seed Round To Automate Hospital Quality Reporting

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October 25, 2024

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SAN FRANCISCO, Oct. 25, 2024 /PRNewswire/ — Hospital quality reporting platform Pharos announced today the close of its oversubscribed $5M seed round led by Felicis with participation from General Catalyst, Moxxie and Y Combinator. Pharos will use the funds to grow its engineering team, allowing customers to report to new clinical quality registries and measure a wider range of process metrics.

Founded in 2024 by a team of clinicians and AI researchers, Pharos automates clinical quality reporting for hospitals, enabling submission to state and national quality registries without manual abstraction.

Additionally, by enabling automatic extraction of custom process metrics, Pharos helps quality teams identify the process failures that are contributing to patient harm, enabling action on issues like sepsis mortality, hospital-acquired infections, and pressure ulcers.

“Today, hospitals spend thousands of hours manually abstracting metrics from unstructured medical records to fulfill registry reporting requirements and understand patient safety events,” said Felix Brann, CEO and co-founder of Pharos. “This manual work is expensive, pulls clinical staff away from the front-line, and means that hospital teams get data long after patients are discharged. Pharos automates abstraction for quality reporting, letting hospitals report to new registries and track metrics that matter to them without adding to clinical reviewer backlogs. We give teams data in real-time, letting them take action on process gaps before they turn into patient harm.”

Brann was previously VP of Data Science at Vital. At Vital, he and Matthew Jones, CTO and co-founder, deployed live predictive AI into over 70 hospitals, integrating with every major electronic health record vendor. While trialing a sepsis model, they recognized the value AI could provide to hospital quality teams. Brann was previously VP of Quantitative Research at JP Morgan. He has published papers in major medical journals on sepsis prediction and medical record summarization using LLMs. Jones worked on the Orion Health EHR and grew M2X from inception to international expansion.

The team is also joined by Dr. Alex Clarke, Head of Research, an MD with a PhD in Artificial Intelligence from Imperial College London. He worked as a medical AI researcher at Meta and experienced the time-consuming medical abstraction process firsthand during his time as a resident doctor.

“When we met the Pharos team and learned about their deep expertise in both healthcare and AI, we knew we had to work with them,” said Ryan Isono, Partner at Felicis. “The mundane areas of healthcare administration make up nearly $1 trillion in spend annually. Pharos uses AI to automate the manual process of hospital quality reporting, which is dramatically underinvested in and can have a huge impact on not just savings but patient safety, too. The platform automates manual data abstraction from medical records, enabling hospitals to identify and resolve process failures in real time. With their experience deploying AI in 70+ hospitals and publishing relevant research, we couldn’t imagine a better team to tackle this problem.”

Numerous studies have shown that access to data and adherence to processes can have significant impacts on patient safety. The American College of Surgeons estimates that 60% of current surgical site infections are preventable with good process, and the same is true for many other patient harm events. Pharos’ mission is to help hospitals prevent this harm before it happens.

You can learn more about the company and the technology at https://pharos.health/

Media Contact
Ellie Tippett, KCPR
ellie@kcpr.com

About Pharos

Pharos automates hospital quality reporting and helps staff identify the root causes of avoidable harm. Their AI automates chart abstraction for quality registries and process adherence measures, reducing staff burden and providing data instantly, rather than weeks after discharge.

You can’t improve what you can’t measure. Pharos enables quality teams to see where and why safety issues are happening in real time, enabling them to take action on issues like sepsis mortality, hospital acquired infections and pressure ulcers.

Pharos is a mission-driven team of clinicians and AI researchers from Meta, J.P. Morgan and Orion Health. They recently raised $5m in funding from Felicis, General Catalyst, Moxxie and Y Combinator to enable hospital quality teams with AI.

About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early-stage investments and currently manages over $3B in capital across 9 funds. The firm is an early backer of more than 45 companies valued at $1B+. More than 100 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park and San Francisco in California. Learn more at felicis.com.

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SOURCE Pharos

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Saudi Geological Survey Releases New Geological Data Packages to Boost Mining Investment and Exploration

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7 mins ago

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October 25, 2024

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RIYADH, Saudi Arabia, Oct. 25, 2024 /PRNewswire/ — The Saudi Geological Survey (SGS) today announced the release of a new batch of geological data packages, further enriching its National Geological Database (NGD) Portal. This milestone coincides with the SGS’s founding day, underscoring its commitment to driving the mining sector’s growth through reliable and comprehensive geological information.

The newly released data packages cover 30% of the Arabian Shield. These packages include surface geochemical and aerial geophysical survey data collected as part of the General Geological Survey Program. Additionally, the National Core Library (NCL) drilling samples initiative has seen spectral scanning of over 70 kilometers of core samples and the digitization of more than 4000 technical reports related to mineral deposit sites.

The NGD Portal serves as a centralized platform for accessing and utilizing geological data, empowering researchers, industry professionals, and investors to make informed decisions and drive innovation in Saudi Arabia’s mining and mineral sector.

For more information, please visit https://ngd.sgs.gov.sa/en.

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SOURCE Saudi Geological Survey

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