DGAP-News: Advanced Blockchain AG signs letter of intent with German telecommunications provider and cable operator

Advanced Blockchain AG (ISIN DE000A0M93V6) has signed a Letter of Intent (LOI) with a German telecommunications provider and cable operator. The non-binding memorandum of understanding is for both partners to develop a block-chain-based protocol for billing in Internet of Things (IoT) networks.

Later on, the Advanced Blockchain initiated peaq protocol with its innovative "DAGchain" can be used.

Details are to be set bindingly between the partners during the third quarter of 2019, whereby the actual implementation depends essentially on whether various preparatory steps can be implemented promptly by both partners and third parties. The binding agreement will also contain concrete provisions regarding the remuneration as well as a percentage participation of Advanced Blockchain AG in future transactions within the network.
 
About Advanced Blockchain AG
The Berlin-based Advanced Blockchain AG focuses on the design, development and implementation of distributed ledger technology (DLT) software for businesses and their products and services. Advanced Blockchain, together with its subsidiary nakamo.to GmbH (www.nakamo.to), has initiated the peaq project (www.peaq.io) and developed a fully functional DAG framework "DAGchain". The main goal of peaq is to develop a working and efficient base-layer protocol that can overcome the vulnerabilities of traditional blockchain systems and consensus problems currently associated with DAGs. Upon completion, the DAGchain protocol could be used by Advanced Blockchain AG for a variety of real-world projects in industries such as the IoT, as well as in the automotive, financial and engineering industries.

Further information on Advanced Blockchain AG is available in the IR section at www.advancedblockchain.com