Datametrex AI Subsidiary Graph Blockchain Signs Contract for Electric Power and Utility Project
TORONTO, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to announce that it has through its Graph Blockchain (“Graph”) subsidiary entered into a definitive agreement to develop a large scale Graph Database and Blockchain solution prototype in partnership with IBM for a Korean conglomerate for an electric power and utility project. The solution will assist in analyzing charging stations. The value of the prototype is approximately $400,000.
The project will use all of Graph’s unique IP 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 energy related prototype solution.
"We have deep domain expertise in Graph databases and its inherent value in analyzing and presenting data more effectively than traditional table-based structures. Bringing this technology to help build out this large project with IBM is a winning proposition for all parties involved. Graph can increase the performance of the blockchain and data presentation layer considerably," said Andrew Ryu, Chairman and CEO of Graph Blockchain.
About Graph Blockchain
Graph Blockchain is a joint venture formed between Datametrex and Bitnine. The JV 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 is focused on the collection of data, providing government agencies and Fortune 500 corporations with artificial intelligence solutions and implementing blockchain technology for secure data transfers and cryptocurrency mining.
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For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
Email: 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 the timing and completion of any blockchain related activities as the subsidiary is newly incorporated and has no current operations. 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.
