Milestone Group PLC Catenae Innovation Plc. : Two New Proof Of Concept Agreements Signed

 
TIDMMSG 
 
 
   CATENAE INNOVATION PLC 
 
   ("Catenae" or the "Company") 
 
   TWO NEW PROOF OF CONCEPT AGREEMENTS SIGNED 
 
   Catenae (AIM:CTEA), the AIM quoted provider of digital media and 
technology, is pleased to announce the signing of two proof of concept 
agreements; 
 
   1) Mobile Business Solutions 
 
   Catenae's Mobile Business Solutions division, which operates remote 
workforce management tools, has signed a proof of concept agreement with 
a provider of building management and inspection services. The solution 
will integrate a licenced version of the Digital Asset and tracking 
system developed by Catenae's subsidiary Trust in Media ("TiM") with the 
client's software application.  The client wishes to create an immutable 
database of assets, their inspection records and audit information as 
required under the BS9999 and The Regulatory Reform (Fire Safety) Order 
2005 and as recommended in the independent review of Building 
Regulations and Fire Safety report led by Dame Judith Hackett following 
the Grenfell Tower fire.  The system will record the details of 37 
inspection points required for each asset as well as confirming physical 
location and timestamping. This is the first example of the product 
being utilised outside of the traditional digital media world and allows 
the client to provide tamper proof records. 
 
   2) Trust in Media 
 
   Trust in Media ("TiM") has is pleased to confirm the signing of a proof 
of concept project agreement with a service provider in the Image 
Licensing sector to trial the embedding of the Digital Asset 
Registration and Transactional Tracking technology within the provider's 
operations. This allows users to record the digital asset copyright 
information as an immutable record for each individual image and track 
details of where those assets are downloaded and utilising smart 
contracts to record the transactional value attributed to the purchase. 
 
 
 
   Tony Sanders, CEO, commented: 
 
   "It is pleasing to see that our recently released blockchain solution is 
attracting interest from a number of disparate industry sectors.  We 
will continue to look to extend the product's reach, introducing 
licencing models and white-label versions as the product matures. We 
look forward to converting the proof of concept agreements to revenue 
generating licences in the near future. 
 
   One of the key areas when looking at blockchain solutions is the ability 
for the application to write and confirm the data transactions at a 
sufficient rate. When Bitcoin network purportedly runs at 3 transactions 
per second it is easy to see why this may not be sufficient for high 
speed financial or audit transactions. The proof of concept projects 
mentioned above will utilise the private block chain platform which was 
tested by the National Physical Laboratory in conjunction with Toronto 
Stock Exchange in October 2017, where it time-stamped financial stock 
trades using the atomic clock, achieving 25 Billion transactions per day 
with the transactions recorded directly on the distributed ledger. 
Whilst way in excess of most requirement, we believe this capability 
will allow our solutions to penetrate markets so far excluded from the 
blockchain program." 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. The person who arranged for release 
of this announcement on behalf of the Company was Tony Sanders (Chief 
Executive Officer). 
 
   For further information: 
 
 
 
 
 
  Catenae Innovation Plc                             Tel: [phone] 
  Tony Sanders 
 
  Cairn Financial Advisers LLP, Nominated Adviser    Tel: [phone] 
  Liam Murray / Jo Turner 
Cornhill Capital, Broker                           Tel: [phone] 
 Daniel Gee 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Catenae Innovation P.L.C. via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

July 05, 2018 02:05 ET (06:05 GMT)

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