In a recent press release, Graph Blockchain has given an update to the development of their LiveStock eco-system. In the release they indicate that a new Memorandum of Understanding has been reached between themselves, Datametrex, and Lotte Data Communication Company. This MOU was signed after the initial plan for the project was announced, in November of 2018.
The purpose of this alliance is to see through the development of various solutions for the Canadian beef industries. These solutions are to be blockchain based in nature, and aim to increase efficiency, data insight, accountability, and more.
The first move will see the development of framework for a blockchain based supply-chain. By introducing increased accountability, etc., the goal is to provide end consumers with safer and healthier products. All the while, providing suppliers with more insight into the inner workings of their industry.
They indicate that by introducing such systems, Canadian farmers will gain access to new opportunities. New markets will open up, as new found transparency will allow for effective standards to be enforced in areas where they couldn’t be before.
Graph Blockchain CEO, Peter Kim, commented on this new partnership. He stated, “Great job by the team in putting this together with Lotte. It’s great to see strategy executed, and with Graph being validated through the MOU, we continue working towards a Definitive Agreement with LDCC and anticipate exploring opportunities to expand to other related companies”
Graph Blockchain maintains headquarters in Toronto, Canada. Above all, the company works to develop private blockchain solutions. Led by CEO, Peter Kim, Graph Blockchain has experience in markets ranging from Health and Wellness, to EV Charging, and, of course, supply chain management.
Lotte Data Communication
Lotte Data Communication represents one arm of the South Korean Giant, the Lotte Group. This is a company that boasts over 90,000 employees, and controls assets valued at over $135 billion. Their participation in the project is a huge boon, as they boast experience and resources in a plethora of industries.
Datametrex maintains headquarters in Toronto, Canada. The company works to leverage technologies such as AI, Blockchain, and more, to provide services such as secure data transfers. The company is led by CEO, Andrew Ryu.
In Other News
Endeavours, such as the one discussed here today, mark just one in a long line being undertaken in Canada. We just recently reported on blockchain and its potential use being considered within the banking system. It is clear that blockchain has reached a tipping point, where countless industries have realized that it is here to stay. Now they are pondering how to implement it to their advantage.