Jacksonville, Florida, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Everything Blockchain, Inc., (OTCMKTS: OBTX), an advanced platform architect, development and services company and software foundry, specializing in blockchain technologies, decentralized processing, and zero trust applications announced today that its subsidiary, Vengar Technologies, has entered into a perpetual OEM license agreement with Alamo City Engineering Services (ACES), a Government Service Administration (GSA) vendor, on October 26, 2021 for its Zero Trust Data Access (ZTDA) platform.
ACES will integrate our ZTDA platform into ACES’s product its produces for the Department of Defense, civilian federal agencies, and state and local governments under its multiple service and supplier award contracts. Under terms of the agreement the Company is to receive a $250K non-refundable prepayment licensing fee that will be offset by the 25% licensing fee of gross revenue generated on all sales in which the ZTDA platform is included. The Company will provide engineering assistance and technical support to the ACES team.
The ZTDA platform allows users and organizations to have perpetual control of their data. Even when a user has sent or shared files to someone else, and that data is on someone else's system, access can be revoked at any time. With data protected through an end-to-end zero knowledge encryption architecture, only the creator of the data can grant permission for others to view their pictures, files, and other data. With this platform, users can:
- CONTROL who can access their data, when, and where.
- CONTROL what others can do with it: view, forward, copy, print, or save
- REVOKE access at any time.
The user experience is easy, with just a simple click within your email and messaging apps or desktop environment. The user doesn't need to understand encryption or keep track of encryption keys. Advanced patent-pending key management is integrated and self-managing.
Mr. Jennings, Everything Blockchain’s COO and Vengar’s CEO stated, “Licensing agreements such as this are a key component of our go-to-market strategy. The decision to grant a perpetual OEM license to ACES in support of the Department of Defense and other government agencies stems from management’s commitment to security and protection of American technology and advancements. We look forward to our continued partnership with the ACES team and are delighted to extend an unprecedented level of data protection and control to the ACES solutions and markets.
Craig Stephens, ACES Chief Executive Officer stated, “The ZTDA platform is the first of its kind. When we were introduced to its capabilities, we immediately understood that this solution had to be a part of our product solutions. The ‘data’ approach versus ‘network’ approach to data security is phenomenal and on point. We are very excited to integrate the ZTDA platform into our solution and look forward to the many years of a successful future.”
About Everything Blockchain:
Headquartered in Fleming Island, Florida, Everything Blockchain, Inc., (OTCMKTS: OBTX) is a platform developer, specializing in systems’ architecture, and a software foundry of blockchain technologies, decentralized processing, Internet of Things (IoT), and Zero Trust.
About Alamo City Engineering Services, Inc.
Headquartered in San Antonio, Texas, Alamo City Engineering Services specialize in Cyber Security, Comply to Connect Zero Trust as well as SAP Solutions, Program and Project Management, Compliance, Information and Communications Security, Operations and Asset Management. ACES is a Service-Disabled Veteran Owned, SBA Certified HUB Zone Small Business. ACES created the ForeScout Comply to Connect solution promoted by the Office of the Secretary of Defense. GSA SCHEDULE HOLDER: GS-35F-0598S
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
