TORONTO, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Graph Blockchain Inc. (“Graph” or “Company”) (CSE: GBLC) is pleased to announce a non-binding Memorandum of Understanding (“MOU”) entered into between Datametrex AI Limited (“Datametrex”), an associated company of Graph, with Lotte Data Communication Company, (“LDCC”). The Company, in collaboration with Datametrex and LDCC, intends to provide the expertise and technology in building blockchain solutions for the importation of Canadian Beef.
Further to the previous press release on November 7, 2018 (click here for more information), regarding Graph’s discussion to build blockchain solutions for the safe and secure importation of Canadian Beef, senior management of both Lotte Data Communications Company and Datametrex met at the Canadian Embassy in Seoul, South Korea to sign the MOU in the presence of Michael Danagher, Canadian Ambassador to South Korea and Sonja Panday, Counsellor of Economic Affairs for the Province of Ontario.
The MOU provides the initial framework for Graph, working with Datametrex and LDCC to jointly develop Blockchain Supply Chain Management Solutions for livestock products from Canada. The Company believes that building a Supply Chain Management for the importation of livestock products will increase the likelihood that consumers have safer and more reliable livestock products. Additionally, the Company believes that such a system will enable manufacturers and distributors to respond promptly if any health issues are detected with these products. This system will be designed to generate information at each stage of distribution through IoT sensors and to prevent forgery through blockchain technology. The secure information that is generated will be available to users in real-time so that they can quickly track and respond to situations.
As part of a full Global Food Supply Chain Management eco-system, Graph has also had initial and continuing discussions with Provincial Trade Ministries regarding agricultural data assets of farmers and ranchers. As stakeholders in the eco-system, Canadian farmers can expect to have opportunities for (i) greater access into Asian markets and (ii) increased demand for their products, through the transparency of the system.
“Great job by the team in putting this together with Lotte. It’s great to see strategy executed, and with Graph being validated through the MOU, we continue working towards a Definitive Agreement with LDCC and anticipate exploring opportunities to expand to other related companies,” says Peter Kim, CEO of the Company.
About Lotte Data Communication Ltd
Lotte Data Communication Co. is a division of Lotte Co., Ltd. the 5th largest South Korean conglomerate with total assets of CAD $136.4 Billion. Lotte Group consists of over 90 business units employing 60,000 people. Major businesses include: food products, retail, entertainment, finance, real estate, amusement parks, hotels, IT, heavy chemicals, sports teams and R&D centers.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com) and Implementing Blockchain technology for secure Data Transfers through its investee company, Graph Blockchain (www.graphblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
About Graph Blockchain Inc.
The Company develops leading-edge private blockchain business intelligence and data management solutions and is a pure play in the graph database technology space. Graph leverages their proprietary integration of the AgensGraph Database engine with IBM’s Hyperledger Fabric to create a transparent and immutable ledger with near real-time transactional data processing and intuitive data visualization. The Company’s powerfully unique solution has translated into a high growth trajectory, with the company securing multiple prototype development contracts with multi-national conglomerates, and the opportunity to sell across client subsidiaries as a full enterprise product.
Additional information on Graph Blockchain Inc. is available at: www.GraphBlockchain.com
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For further information, please contact:
| Peter Kim – CEO Graph Blockchain Inc. | ||
| Phone: | (416) 482-3282 ext. 229 | |
| Email: | pkim@graphblockchain.com | |
Forward Looking Statements:
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. Such information, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. Forward-looking statements in this news release include, but are not limited to, statements with respect to the successful collaboration between the Company, Datametrex and LDCC with respect to the building of a blockchain solution for Canadian livestock, statements with respect to internal expectations, expectations for future collaboration, expectations for revenues from such collaboration, expectations with respect to the development of the solution or successful deployment of the solution for use in the livestock industry, among others. There can be no assurance that the blockchain solution will be successfully developed by the parties or adopted in the industry.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.