UK Markets open in 7 hrs 28 mins
  • NIKKEI 225

    26,580.98
    +415.39 (+1.59%)
     
  • HANG SENG

    26,588.20
    +102.00 (+0.39%)
     
  • CRUDE OIL

    44.77
    -0.14 (-0.31%)
     
  • GOLD FUTURES

    1,804.30
    -0.30 (-0.02%)
     
  • DOW

    30,046.24
    +454.97 (+1.54%)
     
  • BTC-GBP

    14,295.79
    -12.74 (-0.09%)
     
  • CMC Crypto 200

    379.76
    +10.01 (+2.71%)
     
  • Nasdaq

    12,036.79
    +156.15 (+1.31%)
     
  • ^FTAS

    3,633.35
    +51.07 (+1.43%)
     

Advanced Blockchain AG: ABAG's portfolio company, peaq, has signed a Memorandum of Understanding for mass production with a leading German car company

·2-min read

DGAP-News: Advanced Blockchain AG / Key word(s): Agreement/Cryptocurrency / Blockchain
02.11.2020 / 14:30
The issuer is solely responsible for the content of this announcement.


Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) announces that its portfolio company peaq GmbH (www.peaq.io) has signed a Memorandum of Understanding (MoU) with a prominent German car company.

This contract outlines the mass production of a full-scale e-mobility platform designed to be used in the automotive industry. This platform will be based on peaq's base layer blockchain technology, the DAGchain(R).

Peaq's DAGchain(R) is hybrid Distributed Ledger Technology which combines DAG (Directed Acyclic Graph) Technology with blockchain technology to achieve higher speeds, better scalability, and overall better performance compared to regular blockchain technologies. Peaq offers its DAGchain(R) as decentralised platform infrastructure on a Software-as-a-Service basis to clients in a range of industries including the automotive, telecommunications, and machine industries.

The e-mobility platform is based on peaq's core technology, the DAGchain(R), and involves creating a neutral innovation and transaction platform for the automotive industry in its entirety, with a focus on electric vehicles (EVs). The platform involves making the next generation of cars fully DLT ready from the moment they leave the factory, while dramatically decreasing range anxiety for EVs industry wide.


This MoU occurs as the culmination of over two years of work between peaq and this German automotive manufacturer. Stage one of this collaboration confirmed its technical and conceptual feasibility and was completed in 2019.

Further information on Advanced Blockchain AG, peaq, and its other investments and projects is available on its website, www.advancedblockchain.com.

 


02.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Advanced Blockchain AG

Chausseestraße 86

10115 Berlin

Germany

Phone:

030403669510

Fax:

030403669511

E-mail:

info@advancedblockchain.com

Internet:

www.advancedblockchain.com

ISIN:

DE000A0M93V6

WKN:

A0M93V

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart

EQS News ID:

1144743


 

End of News

DGAP News Service

show this
show this