Jeffrey Stevens reports
DATAMETREX AI SUBSIDIARY GRAPH BLOCKCHAIN SIGNS CONTRACT FOR ELECTRIC POWER AND UTILITY PROJECT
Datametrex AI Ltd. has, through its Graph Blockchain subsidiary, entered into a definitive agreement to develop a large-scale graph database and blockchain solution prototype in partnership with IBM for a Korean conglomerate for an electric power and utility project. The solution will assist in analyzing charging stations. The value of the prototype is approximately $400,000.
The project will use all of Graph's unique IP (intellectual property), 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 seven transactions per second to 7,000 transactions per second. Additionally, information can be displayed 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 this energy-related prototype solution.
"We have deep domain expertise in graph databases and its 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 a winning proposition for all parties involved. Graph can increase the performance of the blockchain and data presentation layer considerably," said Andrew Ryu, chairman and chief executive officer of Graph Blockchain.
About Graph Blockchain
Graph Blockchain is a joint venture formed between Datametrex and Bitnine. The joint venture's 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 is focused on the collection of data, providing government agencies and Fortune 500 corporations with artificial intelligence solutions and implementing blockchain technology for secure data transfers and cryptocurrency mining.
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