TORONTO, Feb. 28, 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, drawn strong interest from several banking and insurance companies. It is currently presenting with IBM, its partner, to a number of financial and insurance institutions for blockchain projects. Recently, Graph entered into a definitive agreement to develop a large-scale Graph Database and Blockchain solution prototype in partnership with IBM for an electric power and utility project. The solution will assist in analyzing charging stations. The value of the initial 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 7 transactions per second (TPS) to 7,000 TPS. Additionally, information can be presented 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 mission critical applications.
"We have deep domain expertise in Graph databases and their 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 opening up a lot of opportunities. Graph Blockchain can increase the transaction performance and data presentation layer considerably," said Andrew Ryu, Chairman and CEO of Graph Blockchain.
Additionally, Ronin Blockchain, Datametrex AI’s cryptocurrency mining subsidiary, is speaking at the Polycon 18 conference in the Bahamas this week. The conference will bring together the worlds of high finance and blockchain, attracting institutional investors, retail advisors and high net worth individuals, as well as some of the most exciting and fastest-growing blockchain companies from around the world.
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 Limited is a technology-focused company with exposure to four exciting verticals. Big Data, Collecting data from retail point of sale environments, Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Implementing Blockchain technology for secure Data Transfers through its joint venture company, Graph Blockchain (www.graphblockchain.com). and Industrial Scale Cryptocurrency Mining through its wholly owned subsidiary, Ronin Blockchain Corp. (www.roninblockchain.com)
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