Montreal / TheNewswire / December 23, 2018 - St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that on December 21, 2018, it executed an agreement with Prego International Group AS to develop and integrate certain proprietary technologies in a Global Multi Payment and E-Money Services Platform.
Prego, based in Norway, is a global payment solution provider which develops and operates a range of payment services for partners and clients worldwide, including Everyday Digital, a solution which is Prego`s proprietary white label alternative e-money and payment platform. Everyday Digital is fully flexible and configurable, combined on conventional processing platform, integrated with blockchain technology with real-time processing providing everything from specific payment functionality to full current accounts including Direct Debit, Faster Payments, CHAPS, BACS and contactless Visa & MasterCard debit cards and Closed Loop payment cards (Virtual Everyday $ cards).
Under the Agreement, ZeU and Prego will share equally the costs of the Services as follows:
- Phase 1 - preface/innovation lab: USD$675,000, which shall include the setup cost and license fees of the full platform, prepared for pilot operational phase (timeline - Q2 2019);
- Phase 2 - pilot operational: USD$750,000, which shall include full system integration with "POC" testing and user testing with stress test of the platform in 60 days with a complete report (timeline - Q3 2019); and
- Phase 3 - project launched and running - upscale/internationalization. It shall include a full platform, service ready to go, for implementation in multiple global markets. (timeline - Q4 2019).
"(...) We believe that this technology agreement will open opportunities to provide blockchain based services combined with conventional payment services to the market in a very smart and user friendly way.(...) This agreement will strengthen both companies market opportunities and will pave the way to many more new initiatives to come (...) commented Ronald Erikson, Prego Executive Chairman.
Frank Dumas, President and CEO of ZeU, indicated that "The team at ZeU is excited to be working with Prego to provide a key complement to the foundation for its advanced end-to-end Global Multi Payment and E-Money Services, deploying proprietary software, and innovative business models. We expect to leverage the equal revenue sharing agreement between the two companies to accelerate the development and deployment of our business initiative (...)"
Other Corporate Matters
BigData on Blockchain
In early December, ZeU filed for an additional provisional patent named 'System and Method for Augmenting Database Applications with Blockchain Technology'.
The application developed by ZeU and related to this invention patent provides a migration method that allows a database application that accesses a local database to be synchronized with a blockchain. Data to be written into the database, but requiring synchronization, will be sent to a blockchain for consensus voting automatically, and only the data that gets consensus is made to persist and viewed by application. It also allows a software application to access a local relational database and via a migration service synchronize the status and data of the database with blockchain. The data is sent to the blockchain for consensus automatically, and only thereafter viewed by the application. This approach resolves transaction conflicts both in local nodes and globally. The invention is protocol agnostic and ZeU management believe that it could be used as a gateway to share data between application using different protocols.
Additional Patent Applications
ZeU management is working on additional patents related to random number generation and encryption in relation with blockchain application. These technologies are being developed to be used in payment solutions, gambling industry and secure messaging.
ZeU is pursuing its listing process on the CSE and expect to be listed in Q1 2019.
ON BEHALF OF THE BOARD OF DIRECTORS
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.