TORONTO, March 19, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (DM.V) (D4G.F) 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).
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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.