BLOCKCHAIN

GRAPH BLOCKCHAIN SIGNS KOREAN TRADE ORGANIZATION: Datametrex AI and Bitnine’s joint venture company, Graph Blockchain, has signed a memorandum of understanding (MOU) with the Korean Trade Organization (KTNET) to build and implement a blockchain-based electronic trade services platform. Established in 1989, KTNET is able to deliver automation solutions for complex trade processes thanks to its paperless trade infrastructure, with annual economic effects of these systems totaling $5.57 billion. Graphic Blockchain, which has a $30 million valuation and is in the process of being listed on the Canadian Securities Exchange (CSE), develops blockchain solutions for both corporate and government clients, including graphic data analysis and consulting services. With KTNET managing an average of 370 million paperless documents per annum, the current agreement aims to further develop Korea’s electronic trade process through blockchain-based automation. While much attention has been paid to Korea’s ban on ICO, this current partnership highlights the growing influence of blockchain technology on the finance sector, with solutions utilizing the technology emerging more and more frequently.

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