07:46:43 EDT Sun 26 Sep 2021
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Cloud Nine Education Group Ltd (2)
Symbol CNI
Shares Issued 16,787,047
Close 2021-03-02 C$ 1.75
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Cloud Nine hires Bluzelle for Web3 development

2021-03-03 11:14 ET - News Release

Mr. Allan Larmour reports


Cloud Nine Education Group Ltd. is focusing capital resources on the development and advancement of its education platform, which focus includes the retention of Bluzelle Networks Pte. Ltd. for specialized Web3 development services to oversee the expanded Cloud Nine development team. The aim of this initiative is to establish Cloud Nine as a thought leader in the growing education technology (edtech) space.

Cloud Nine's Web3 development initiatives include the following:

  1. Creation of a global assessment platform to provide services for storing and managing degree information -- applying specific security technology to store degrees: The Web3 ledger is intended to match all kinds of educational information with the user's unique ID. It is intended to include learning behaviour in class, micro academic project experience and macro educational background.
  2. Capacity-currency transformation bank -- Web3 learning ledger to record detailed information about users' learning experience and follows the development of their knowledge and skills: This information can be stored on a Web3 network according to a series of comprehensive standards. Students will gain rewards through their efforts on studies, which is called "learning is earning."
  3. Airbnb for file storage: As learners and education institutions store more data, DLT cloud storage could offer safer and potentially cheaper alternatives. This includes e-books and textbook consolidation in one place across the planet.

Additional corporate updates

Further to its news release dated Feb. 16, 2021, announcing the execution of a letter of intent with Victory Square Technologies Inc., the company and Victory Square have executed an amendment to the letter of intent to extend the deadline by which the parties have to finalize a definitive agreement to acquire intellectual property assets from Feb. 26, 2021, to March 31, 2021. All other terms of the letter of intent remain in full force and effect.

On March 1, 2021, the company entered into an agreement with ARI LLC, an independent programming firm, pursuant to which it has agreed to develop and update Cloud Nine's edtech platform. This includes content design, data centre hosting, software development and security auditing.

Lastly, the company has engaged Fortyfive Media Inc. in the amount of $300,000 (U.S.) to provide marketing and publication services to assist in creating and increasing public awareness of Cloud Nine's activities, strategic plans and investment opportunities.

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