TORONTO, Nov. 21, 2017 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to announce that its solely owned subsidiary, Datametrex Blockchain Limited, has signed a formal agreement to create a Joint Venture (“JV”) with San Francisco, California, based Bitnine Global Inc.
Bitnine specializes in Graph Database and Blockchain technology providing a unique way of organizing and analyzing blockchain transactional data.
A graph database uses graphical structures for semantic queries with nodes, edges and properties to represent and store data. A key concept of the system is the graph, which when compared with traditional relational databases is much faster and more efficient when searching key information several levels deep. Graph databases store data as entities and relationships, by making it much easier and quicker to analyze information. They can provide a much more effective way to analyze the data in a blockchain from transaction to transaction.
Bitnine’s unique technology is used in several leading organizations and has strong relationships with several of the largest IT firms in the world. Bitnine has a key strategic relationship with IBM using its IBM Watson platform.
Under the terms of the deal, Datametrex and Bitnine Global will invest $200,000 CDN each in developing the joint venture company, named Graph Blockchain Limited. This newly formed JV has a number of key projects currently, and is poised for strong growth as organizations look for optimum methodologies to analyze blockchain data for key decision making.
Datametrex solutions extend the life of Point of Sale terminals (POS), without having to upgrade them to new cloud-based devices through its DataTap technology. The DataTap captures all data sent from the POS to the receipt printer and then sends it to the cloud, so it can be presented in a dashboard for management to monitor key pertinent information and make vital business decisions. The value of this data across many retail locations, provides imperative business intelligence, and the company plans to implement blockchain platforms to give the data further authentication, verification, and integrity across each specific network of retailer. Adding Bitnine technology to the data in a graphical format further enhances its value.
This offers tremendous advantage to companies that want this insight on POS (Point of Sale) data, for products sold through their retail distribution channel. The combination of Nexalogy AI and Bitnine Graphical Database software, gives all types of organizations a clear advantage in analyzing data and business intelligence. Gathering structured data through Datametrex DataTap and unstructured data though Nexalogy’s AI platform, can be presented much more efficiently through Bitnine graphs.
“We are excited to roll-out our data and AI platform through our recent acquisition of Nexalogy in a number of new markets. The opportunity to combine AI and Graphical Database technology from Bitnine, makes our solutions even more compelling in today’s marketplace, where there is a tremendous amount of social and traditional data,” says Andrew Ryu, Chairman and CEO of Datametrex Inc.
About Bitnine Inc.
The Global Leader of Graph Business Solutions
Bitnine transcends big data problems by creating solutions that are consistently evolving. Bitnine was founded on principles of collaboration, innovation, science and creativity.
Bitnine’s primary objective is to achieve business outcomes that position your company for long term success. The company specializes in Graph Database technology solutions for key data analysis.
To learn more, visit: www.bitnine.net
About the Company
Datametrex is a Big Data company for retail, brands, and other organizations. The Company’s DataTap technology captures sales data sent from the POS to the receipt printer and scanner, and then sends it to the cloud, so it can be presented on a dashboard for key decision making. The Company is planning on integrating the DataTap environment to decentralized blockchains to further authenticate and validate the data collected. To learn more about the Company, visit: www.datametrex.com.
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This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the timing and completion of any blockchain related activities as the subsidiary is newly incorporated and has no current operations. 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. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the lack of material changes to general economic, market and business conditions. Except as required by law, the Corporation 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.
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.