Graph Blockchain Secures Pilot Project With Seoul’s Ministry Of Transportationbr>
Tech firm Graph Blockchain has reported that it secured a contract through its in country partner for the Ministry of Transportation in Seoul, South Korea.
Based in Canada, Graph Blockchain develops private blockchain business intelligence and data management solutions. The company leverages its proprietary integration of the AgensGraph Database engine with Hyperledger Fabric to create a transparent and immutable ledger with near real-time transactional data processing and intuitive data visualization.
In a press release, the firm said that the contract, which is for approximately $55,000 CAD ($41,695 USD), is a pilot project to store traffic data on the blockchain as part of a Smart City initiative.
Jeff Stevens, CEO of Graph Blockchain, said that the contract will allow them to introduce Graph Database Blockchain solutions to Seoul’s Ministry of Transportation.
“We look forward to delivering a solution that will streamline and protect data for their smart city initiatives,” said Stevens. “The team is doing a fantastic job securing new business opportunities with multi-national corporations and government agencies, this will provide a strong foundation as we continue to search for gaming opportunities that will expand and diversify the Company for our shareholders.”
In 2018, Seoul mayor Park Won-soon announced “Blockchain City of Seoul” project, a five-year plan that contains a number of measures for promoting and developing blockchain-related initiatives and education in the city from 2018–2022. At the time, the mayor also revealed plans to apply blockchain technology in the city’s administration.