Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology announces that it has entered into a pilot agreement with Afrik-ID (Pty) Ltd (“Afrik”) to establish the commercial viability of the Company’s technology products in Botswana and across the Southern African Development Community (SADC). Afrik is a newly incorporated company in Botswana, wholly owned by David John Newman, the former Botswanan ambassador to USA, Canada and the Caribbean.
Based on the use of Catenae’s secure blockchain-based identity technology, Afrik-ID’s potential service offerings could enable organisations, businesses and individuals to share certification and identity information via mobile phones in a secure manner. Afrik-ID’s solutions could be deployed in a variety of sectors including construction, logistics, mining, sports, healthcare, human rights services, law-enforcement and travel and tourism.
Under the terms of the pilot agreement, Catenae will provide Afrik-ID with its proprietary Onsite ID and Cov-ID applications for use in Afrik-ID’s sales and marketing initiative for a duration of four months. During this period, the two companies will work closely together, with Afrik-ID seeking to leverage its network and the Company’s technologies across the SADC region.
Following the completion of the pilot at the end of October 2020, which is not expected to generate any revenues for the Company, a market analysis review will be undertaken to ascertain the commercial viability of deploying the Company’s technologies across the region via Afrik-ID. Should this be favourable, the Company will seek to enter into a commercial arrangement with Afrik-ID.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: “We are pleased to have entered into this pilot agreement with Afrik-ID as we see potential for the use of our technologies across the wider SADC region, a community comprising of 16 member states with a combined population of over 345 million people, especially as it is seen that Africa is a highly mobile enabled continent.
“We have every confidence in the leadership team at Afrik-ID. Having worked with them over the last few months scoping this pilot we have obtained insight into the scale of the challenges that the region faces, most latterly due to the COVID-19 pandemic, along with the associated opportunities.
“The Company looks forward to informing the market of further developments with regards the Afrik-ID commercial pilot.”
David Newman, Chairman and Chief Executive Officer of Afrik-ID said:
“Our team at Afrik-ID is delighted to be working in collaboration with Catenae to provide digital technology solutions for the challenges that hamper the safe, efficient and transparent movement of people and goods within and beyond our Southern African region.”
Completion of New Product – Onsite ID
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology announces that it has finalised the development of a new product ‘Onsite ID’, a generic multi-document digital wallet. The Onsite ID app was previously in development when the Company slowed its progress to allocate resources to the creation of the Cov-ID app, which shares a similar technology platform.
Onsite ID provides the ability to view immutable records that are written to blockchain, providing audit trails of transactions and is GDPR compliant.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: “I am pleased to announce that the development of our new Onsite ID product has been completed.
“Catenae initially undertook to develop Onsite ID for use in the construction sector, given that industry’s need for the proof of Identity and Qualifications of the workforce; as well as their need for proof of Health & Safety Certification levels. Onsite ID provides a means of simultaneous validation of a number of data sources and documents to counter the fraud potential that is inherent in paper-based processes.
“The need for contractors and employers to prove that their workforce is fully compliant will become more relevant as the UK leaves the single market at the end of the year. Given the imminent need for permissions to live and work in the UK, this provides further opportunities for the deployment of our technology solutions.
“Onsite ID can also be of use across multiple sectors globally, wherever the validation of Identity Qualifications and Access status are required.
“We look forward to informing the market of further developments regards Onsite ID.”
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 Guy Meyer, Interim Chief Executive Officer of the Company.
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. The Company specialises in Distributed Ledger Technology solutions that solve commercial challenges and create opportunities for its clients. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.
Terms of Website Use
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned