Datametrex AI Joint Venture Graph Blockchain Signs Contract With Insurance Company
March 19 2018 - 7:00AM
Datametrex AI Limited (the “
Company” or
“
Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to
announce that its joint venture company with Bitnine Global Inc.
(“
Bitnine”), Graph Blockchain Limited
(“
Graph”) has entered into a definitive agreement
to develop a large scale Graph Database and Blockchain solution
prototype in partnership with IBM for KB Life Insurance Co, Ltd.
(“
KB”). The solution will be designed for KB’s
insurance claims department. The value of the prototype is
approximately $350,000 CAD. With this agreement in place, Graph’s
total sales orders received is now approximately $800,000 CAD,
which includes a previously announced contract to build a prototype
for electric vehicle charging station for a power utility company
and its a collaboration agreement with Revive Therapeutics Ltd.
(“
Revive”) to develop the patient data blockchain
component for the medical cannabis industry.
The project will use all of Graph’s unique intellectual property
which provides a compelling way of organizing, analyzing and
displaying Blockchain transactional data in real time. The Graph
database technology being developed processes Blockchain data up to
1,000 times faster than traditional methods from seven transactions
per second (“TPS”) to 7,000 TPS. Additionally,
information can be displayed much faster and more effectively. It
is believed to be one of the most effective technologies to store,
manage and present Blockchain transactions specifically in
peer-to-peer networks, and has shown unique advantages for this
prototype solution.
"This represents Graph’s second prototype
contract with IBM as its selling partner. We are thrilled with the
traction Graph’s solutions are achieving with Fortune 500 companies
and look forward to presenting our solutions with IBM to more
potential clients," said Andrew Ryu, Chairman and CEO of Graph
Blockchain.
About Graph Blockchain
Graph Blockchain is a joint venture formed between Datametrex
and Bitnine. The joint venture mandate is to bring the value of
Graph Database technology to the blockchain environment where there
is a great need to enhance performance and present the verified and
authenticated data in unique ways.
About Datametrex AI Ltd
Datametrex AI Limited is a technology focused
company with exposure to four exciting verticals. Big Data,
collecting data from retail point of sales environments. Artificial
Intelligence and Machine Learning through its wholly owned
subsidiary, Nexalogy (www.nexalogy.com). Implementing Blockchain
technology for secure Data Transfers through its joint venture
company, Graph Blockchain (www.graphblockchain.com). Industrial
scale Cryptocurrency Mining through its wholly owned subsidiary,
Ronin Blockchain Corp (www.roninblockchain.com).
Additional information on Datametrex is
available at: www.datametrex.com
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For further information, please
contact:
Jeffrey Stevens – President &
COOPhone: (647) 400-8494Email:
jstevens@datametrex.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
laws, including statements regarding completion of the prototype
for KB. Forward-looking information is not a guarantee of future
performance or results, since it involves risks and uncertainties.
There is no assurance that forward-looking statements will prove to
be accurate, and actual results and future events could differ
materially from those anticipated in forward-looking statements.
Some of the factors on which the forward-looking statements are
premised include (but are not limited to) the lack of material
changes to general economic, market and business conditions. Except
as required by law, the Corporation does not assume and expressly
renounces any obligation to update any forward-looking information,
which is only applicable on the date on which it is given.
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