Datametrex recently announced they filed for two patents via Graph Blockchain, its joint venture company. The patent applications were made both in the US and in Korea. These patents relate to methodologies, algorithms, and processes that focus on the enhancement of transactional performance for the private blockchains.
The patents cover areas such as throughput, data gathering, optimization and presentation, and User Interface Dashboard. The main gist of the patents is that things can take place much faster than with traditional systems. The patents will address the processing speed for transactions on the blockchain and the speed with which data is displayed.
— Datametrex AI Ltd (@datametrex) May 15, 2018
Datametrex's Multiple Successful Partnerships
These patents will build on the momentum the company has seen via various contracts with major global and national corporations in South Korea. Datametrex is doing good business in Canada, particularly with the growing Cannabis sector. This is the next step in confirming their proficiency in the blockchain.
The President of the company said that he was excited about the expanding prospects the unique processes bring to the blockchain sector. Additionally, he said he was excited about the technical schema by the development team in collaboration with technical experts based in California in Bitnine.
Who Is Graph Blockchain
Graph Blockchain is a joint venture that was created between Bitnine and Datametrex. The aim of this company is to bring the Graph Database technology to the blockchain. The blockchain is an ecosystem where there is a major need for enhancing the performance and presenting verified and authenticated data. The company has already filed a non-offering prospectus with securities commission in Ontario. It will then be listed on the Canadian Securities Exchange.
Who Is Datametrex AI Limited
Datametrex AI Limited is a technology company that is exposed to four major verticals. These are Big Data, which entails collecting data from the retails point of sale. AI and Machine Learning via Nexalogy, which is a wholly owned subsidiary of Datametrex. Implementing the blockchain for the secure Data Transfer via its joint venture company Graph Blockchain. And Industrial Crypto mining via Ronin Blockchain Corporation.
Graph Blockchain’s Growing Market Penetration
In recent months, Datametrex announced that Graph Blockchain had been receiving a lot of interest from various insurance and banking companies. They are currently working with IBM to bring solutions to the market for these two sectors of the economy. They recently agreed to develop a large-scale Graph Database and Blockchain solution with IBM. This solution will be used by a utility power project. This solution has the aim of analyzing charging stations. It is estimated that the prototype is worth $400,000.
This particular project will utilize the unique IP developed by Graph, which creates a compelling option for displaying and analyzing transacted blockchain data in real time. This Graph Database technology will process data up to 1000 times faster than the normal method where only 7 transactions per second are possible. Besides that, it will be possible to display information in a more effective manner. This is a great technology for mission-critical applications.