SOURCE: Alternet Systems

Alternet Systems

March 10, 2014 07:00 ET

Alternet Systems Appoints Pat Carroll to Board of Directors

MIAMI, FL--(Marketwired - Mar 10, 2014) - Alternet Systems, Inc. (OTCQB: ALYI) ("Alternet" or the "Company"), an accelerator of high growth opportunities in Digital Currency and Mobile Commerce services, today announced the appointment of Pat Carroll to the Board of Directors in preparation for focus on the Company's wholly owned subsidiary OneMarket.

Alternet has recently been awarded Ven Authority Status through its strategic partnership with Hub Culture. Hub Culture will be instrumental in authorizing independent entities known as "Authorities" to manage the liquidity of Ven, the only digital currency trading on a regulated financial exchange, 100% asset backed and environmentally linked currency in existence. OneMarket, Alternet's wholly owned subsidiary, will be focused on issuing, authenticating, validating and securitizing their multi-currency exchange. Newly appointed Pat Carroll will provide strategic direction on the relationship between Ven and Hub Culture where the focus will be to create a full suite of security services for the digital currency and payments industry.

"Pat is a seasoned corporate executive whose expertise and credibility in the global financial, technology and cybersecurity industry will make him an integral member of our team," stated Mr. Henryk Dabrowski, CEO of Alternet Systems. "He will undoubtedly bring significant value to our efforts at the Board level for Alternet and OneMarket in strategically advising on the spearheading of our initiative in the digital currency and financial security sectors. Alternet, along with the guidance and stamp of approval from Mr. Carroll, are focused on becoming a leader in the multi-billion dollar digital currency transaction industry."

Mr. Pat Carroll, stated, "After extensive due diligence and many in depth conversations with Alternet's senior management team about their vision of the future for digital currency, I am extremely pleased to join the board of Alternet. Today, digital currency is front-page news as this rapidly burgeoning industry is in its infancy. Ven has distinguished itself apart from the rest as being the only one that is traded on a regulated exchange and asset backed. Additionally, the emphasis that this company has placed on secure financial transactions makes it a natural fit for my skill set and background. This is a tremendous opportunity to leverage the technology created at ValidSoft and my prior experience and knowledge in trading systems at Goldman Sachs. I am encouraged by the platform that Alternet has presented me with and look forward to helping build a market leader with their team."

About Pat Carroll:
Pat is a founding Director and Executive Chairman of ValidSoft, a wholly owned cloud security subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK). He has over 20 years of experience in Information Technology and Financial Markets. Throughout his career, Pat has been at the forefront of industry thinking, representing organizations on industry bodies and leading participation in industry initiatives. At ValidSoft, he leads the Strategy, Innovation and R&D functions and is responsible for intellectual property and new patents. ValidSoft is regarded by leading research analysts as an innovator and a leader in the field of security having received many name checks in key research notes.

Prior to founding ValidSoft, Pat was employed as Head of Electronic Trading Technology in Europe for Goldman Sachs International where responsibilities included technical strategy related to Electronic Trading, Client Connectivity and Straight Through Processing (STP). In addition, Pat co-headed European Equities Technology and was a technical advisor to the Investment Banking Division (PIA).

Pat has extensive Financial Services & technical experience (over 25 years) and has previously worked in a senior capacity with J.P Morgan, Credit Suisse Financial Products and Bankers Trust Company.

About Alternet Systems Inc.:
Alternet Systems Inc. (OTCQB: ALYI), headquartered in Miami, Florida, is an enterprise accelerator company focused on the complimentary, high-growth markets of Digital Currency, Mobile and Internet Commerce and Cyber-Security products and services. Through its subsidiaries, Alternet captures and converts extraordinary growth opportunities surrounding the explosion of newly adapted Internet technologies and platforms. More information about Alternet and its subsidiaries can be found and by following the company on Twitter

Ven Authorities:
In order to make Ven more accessible, Hub Culture authorizes independent entities known as "Authorities" to manage the liquidity of Ven. Examples of what Authorities can do includes operating on behalf of customers, provide real-time currency trading, allow corporations to convert assets to Ven to hedge their balance sheet, to meet carbon obligations, or enable an investment fund to use authority status to hold and control a large amount of Ven for a stable long-term investment solution. Ven is distributed through Authorities. The process is managed through a series of sophisticated hedging algorithms that balance the underlying reserves and issuance in real time with live financial markets data, updating as frequently as several times per second.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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