TORONTO, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Graph Blockchain Inc. (“Graph” or “Company”) (CSE: GBLC) is pleased to announce that the company has secured a contract through its distribution partner to deliver a prototype blockchain data management solution for Hyundai Motor Company (“Hyundai”) and IBM Global (“IBM”), for approximately CAD $250,000. This is the 5th contract through IBM this year, totalling more than CAD $1.6 Million.
The contract was secured, in addition to an earlier contract for Hyundai Corporation, as previously announced, in combination through an associated company, Datametrex AI Limited (“Datametrex”) (TSXV: DM, FSE: D4G), on March 27th 2018 and May 25th 2018, respectively, detailing the negotiations (click here for more information) and contract signed (click here for more information).
The prototype project will focus on enhancing Hyundai’s data monitoring systems, utilizing Graph’s Blockbed Modules (“Blockbed”) for the solution development, which is a key component of the Private Blockchain System framework. The Blockbed assembly provides for rapid development of a blockchain solution that is customizable and scalable.
Graph has recently received approvals for two patents in relation to the company’s Private Blockchain Systems, as announced on November 16 2018 (click here for more information).
“Our continued success securing contracts with multi-nationals is always exciting, and this confirms our ability to deliver across divisions of related companies as a trusted enterprise solution. We aim to continue executing on our ‘land and expand’ strategy and anticipate the momentum will grow as we successfully deliver our product to each subsequent client,” says Peter Kim, CEO of the Company.
About Hyundai Motor Company
The Hyundai Motor Company is a South Korean multi-national automotive manufacturer headquartered in Seoul, South Korea. The company was established in 1967, originally as part of Hyundai Group, and currently along with its 32.8% owned subsidiary, Kia Motors, and its 100% owned luxury subsidiary Genesis Motors, altogether comprise the Hyundai Motor Group. It is the third largest vehicle manufacturer in the world.
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
To keep updated with all news, corporate information and direct dialogue with Management join our Investor group on 8020 Connect here: http://bit.ly/8020Graph
About Datametrex Limited
Datametrex AI Limited is a technology focused company with exposure to four exciting verticals. Big data, Artificial intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Implementing Blockchain technology for secure data transfers through its associate company, Graph Blockchain Limited (www.graphblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
To stay informed about Datametrex, please join our Investor Group on 8020 Connect http://bit.ly/8020DM for all upcoming news releases, articles comments and questions.
For further information, please contact:
Peter Kim – CEO Graph Blockchain Inc.
Phone: (416) 482-3282 ext. 229
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
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:
The information in this press release includes certain information and statements about management's view of future events, expectations, plans and prospects, including the potential expansion of Graph solutions across clients, multi-national subsidiaries and Hyundai’s various business divisions, that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the Company considers these assumptions to be reasonable based on currently available information, the same may prove to be incorrect, and the forward-looking statements in this press release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward looking statements. Although the Company believes that the expectations reflected in forward looking statements are reasonable, no assurance can be given that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.