Graph Blockchain Inc recently announced having secured a contract for approximately C$55,000 (~US$42,000) through its country partner for South Korea’s Ministry of Transportation.
As reported by GlobalNewsWire, the contract is a pilot project for storing traffic data on a blockchain-based platform as part of the nation’s Smart City initiative.
In a press release, Graph CEO Jeff Stevens called the pilot “an exciting opportunity” for the company to introduce its Graph Database Blockchain solutions to the transport ministry, delivering a solution that would streamline and safeguard data for smart city projects.
Stevens added that the firm was securing new business opportunities with multinational corporations and government agencies, in order to provide “a strong foundation” as it seeks new gaming opportunities, noting that the opportunities will expand and diversify the company for its shareholders.
Graph develops private blockchain business intelligence and data management solutions, and says it is a pure play in the graph database technology space.
The firm leverages its proprietary integration of the AgensGraph Database engine with Hyperledger Fabric to create a transparent and immutable ledger with intuitive data visualization and “near real-time” transactional data processing.
Graph has secured multiple prototype development contracts with multinational conglomerates while selling across client subsidiaries as a full enterprise product.
South Korea has become increasingly active in leveraging blockchain technology. According to TokenPost, the national postal service is working to integrate blockchain into its billing system, while the country’s largest power provider has signed a deal with two other suppliers to develop a blockchain-based system for renewable energy certificates.
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