Graph Blockchain Inc (CSE:GBLC) has confirmed of having received a payment of CAD $300,000 from LG Electronics against the successful completion of the development of the prototype solution. The solution is part of the company’s contract with LG which was revealed on 15 August 2018.
Following the signing of the contract Graph Blockchain issued a press release on 23 August 2018, announcing its pride in collaborating with LG. The company said that it is happy to become the trusted blockchain solution provider for the international logistics market. The company has allegedly entered with two international conglomerates for prototype solution. The conglomerates include units of Samsung and LG via IBM Korea and the distributed partner. The company stated that will continue to negotiate MoU with the Korean government Agency KTNET. Under the MoU, the company is pitching to create blockchain-powered global electronic trade services platform.
In a statement, the company said that having received payment for the prototype solution shows the efforts of the company’s dedicated sales force team. The company was able to negotiate and execute many deals with international conglomerates. This has helped the company to come up as a trusted blockchain solution provider. The growth of the company is now being supported by the global electronics leader. The company is now aiming to expand its horizon in Asia and later in North America, states Peter Kim, the CEO of Graph Blockchain.
In separate news, it has been uncovered that Graph is preparing to be listed as a public company on the Canadian Securities Exchanges through a reverse-takeover process. This will make the company eligible for pre-financing evaluation of nearly CAD39 million. The company was incepted as a joint firm between Datametrex and Bitnine. The focus of the joint venture was to improve the value of Graph Database technology to the blockchain infrastructure.
Graph is a well-known name among the companies into the development of leading-edge private blockchain solutions for business intelligence as well as data management. IBM Hyperledger Fabric is one of the solutions powered by Graph’s AgensGraph Database engine to develop a transparent and immutable ledger by deploying the real-time transactional data processing as well as intuitive visualization of data. The company’s portfolio includes amazing solutions that have helped companies achieves steady growth. Its portfolio has also helped the company enter many contracts and became a well-known name across the globe.
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