TORONTO, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) is pleased to announce that its affiliate, Graph Blockchain Inc. (“Graph”) (CSE: GBLC), 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 for Graph, totalling more than CAD $1.6 Million.
The data monitoring project for Hyundai was referred in furtherance to a larger successful negotiation between the Company and Hyundai Corporation, previously announced on May 25th, 2018 (more information available here).
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.
“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 Graph.
“As a major shareholder of Graph, we are excited to pave the road to winning these contracts. We had always stipulated that discussions among divisions of a multi-national conglomerate could provide a solid organic growth path for both DM and Graph, and with this contract, it’s evident that we are able to achieve this mutual goal,” says Jeff Stevens, COO and President 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.
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
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For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
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This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. 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. Except as required by law, the Company 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.