TORONTO, Aug. 22, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the "Company" or "Datametrex") (TSXV:DM) (FSE: D4G) is pleased to announce that its Joint Venture company, Graph Blockchain Limited ("Graph") has signed a Memorandum of Understanding ("MOU") with Korean Trade Organization, KTNET to develop and implement a blockchain-based electronic trade services platform for KTNET.
KTNET was established in 1989 by the Korean government and funded by the Korean International Trade Association (KITA). KTNET provides automation services for all the complex processes of export & import businesses through the establishment of paperless trade infrastructure, achieving economic effects that reach US $5.57 billion annually. Through a trade system linking approximately 97,000 customers and trade-related organizations, including trading companies, banks, customs brokers, shipping companies, insurance firms, forwarders, and bonded storages, KTNET has digitized 614 types of export & import documents in the G2B and B2B sectors, and processes an annual average of 370 million cases of paperless documents.
"This is a tremendous opportunity for Graph to partner with a government agency to develop the blockchain component for the automation of electronic trade in Korea. We look forward to finalizing the definitive agreement with KTNET as this will create a new international trading platform that Graph can build on," says Andrew Ryu, Chairman & CEO of the Company.
About Graph Blockchain Limited
Graph Blockchain is in the process of listing as a public company on the Canadian Securities Exchange, by way of a reverse-takeover, resulting in a pre-financing valuation of approximately $39 Million CAD (click here for more information). Graph was started as a joint venture formed between Datametrex and Bitnine, with the mandate 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.
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 joint venture company, Graph Blockchain Limited (www.graphblockchain.com). Industrial scale cryptocurrency mining through its wholly owned subsidiary, Ronin Blockchain Corp. (www.roninblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
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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.
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.
Source: Datametrex AI Limited