World News: 02:00 GMT Thursday 6th December 2018. [Catenae Innovation P.L.C. via Globe Newswire via SPi World News]
Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology announces it has signed its first contract for a solution utilising its blockchain technology. This agreement is with STM Security UK Ltd (“STM”) who have been customers of the Company since 2013. STM is a UK based security company and a supplier of manned security solutions and customer service staff, providing professional, trained and licensed personnel throughout the UK.
Under the terms of the contract Catenae will supply STM with OnGuard Plus, a business management solution which was specifically developed for the security industry. It utilises mobile and cloud technologies to support the administrative, operational and financial functions of the manned guarding sector. The integration of Catenae’s Sequestrum distributed ledger technology provides clients with the ability to store critical and regulatory reports in an immutable form within the Sequestrum repository providing auditable proof of both the existence of the report as well as its original content. Revenue is generated via an annual ‘in advance’ licence fee as well as a transaction fee on a ‘per report’ basis.
We hope to make further announcements on further commercial agreements in the near future.
Globe Newswire: 02:00 GMT Thursday 6th December 2018
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