Catenae Innovation #CTEA signs renewable licence framework agreement to use ChainZy

Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology announces it has entered into a 5-year renewable licence framework agreement with Z/Yen Group Limited for the use of “ChainZy” – Z/Yen’s distributed ledger platform.

ChainZy delivers high speed, secure data and transaction handling capabilities utilising distributed ledgers. ChainZy is designed to be used in market sectors that require the secure, authoritative and immutable history of auditable transactions: financial services, private utilities, the public sector and many other areas of business and government activity.

The ChainZy platform can be utilised to support Catenae’s universal digital repository application, Sequestrum, as well as future applications the Company may develop. Sequestrum provides the immutability function for the recently launched OnSite product and ChainZy provides the distributed ledger platform in this instance.  ChainZy has been extensively tested with Sequestrum and is our preferred platform.

The use of the Chainzy product and associated licence fee will be dependent on the Company’s solution for each specific client. The fee structure will take the form of a licence fee and / or a per transaction fee.

Professor Michael Mainelli, Executive Chairman and co-founder Z/Yen Group Limited commented: “Catenae’s business is the perfect synergetic match for ChainZy.  We have a good working relationship over many years with their excellent CTO, Alan Simpson.  Their desire to deliver smart ledgers for responsible independent time recording on our ‘Internet of Record’, ChainZy, is commendable.  We look forward to developing more innovations that fundamentally alter the way business does business and government governs.”

Tony Sanders, CEO commented: “We are pleased to formalise our relationship with Z/Yen, who have been working in the distributed ledger arena for a good number of years under the world-renowned thought leadership of Professor Mainelli. We look forward to this mutually beneficial relationship, collaborating together to develop real-world, commercially viable solutions that meet pressing corporate and organisational needs.”

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 Tony Sanders (Chief Executive Officer).

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