Calgary, Alberta – NovaTeqni Corporation (“NovaTeqni” or the "Company") (TSXV - NTQ: OTCQB - NVTQF) is continuing to examine areas of its business where the use of blockchain will reduce costs, improve security and provide efficiencies beyond current processes. Novateqni’s extensive experience in biometrics and voter registration, validation and voting systems uniquely positons the Company to take advantage of the efficiencies and security offered by the use ofa blockchain. In examining current and future projects, the Company has decided to commence the development of a new version Farmer’s Mangement System using blockchain to increase functionality, and specifically to create a highly flexible, generic identification and transaction system.
The Company’s current Farmer’s Mangement System which was first launched in Malawi includes government quality biometrics, fixed offices, wireless and land line communications, cloud based computing, and mobile biometrics systems. Farmers were issued secure contactless smart cards containing biometrics data to allow instant identification. The system contains administrative functionality such as financial reporting and crop related reporting which led to an improvement in efficiency and capability within the important farming sector.
The use of the block chain adds an additional security layer to further distribute encrypted ledgers. This will allow for the safer and more secure storage ofthe biometrics and biographical information of users. Local biometrics matching when required will also be possible such as match on device or match on card Once developed the upgraded system can be used by avariety of enterprises.
The new system will be customizable to work for different standard and non standard product applications such as Know Your Customer, student registration, access control, time and attendance, health plans, drivers liscences, voter validation, voter registration, and money transfers.
Novateqni is also pleased to announce it has completed the prototype and first demonstration to sales partners of its finger print based door access system with fully integrated virtual reception and timeand attendance functionality. An iris based version ofthe access system will be available by the end of this year and a robust version targeted at construction sites will be launched in 2018.
Funding will be required to carry out the development of the new Famers Management System using blockchain and to prepare production ready versionsof the Company’s various products including the time and attendance system and door access controllers.
Gerhard Mynhardt, CEO of Novateqni stated, “We are very pleased to be announcing the completion of a product that, once to market, will commence the Company’s transition from tender based sales to more predictable and reliable standard product sales. In addition, the Company sees various efficiencies and added security offered by the incorporation of a blockchain into its current and future offerings, therefore, the Company will be working towards utilizing the blockchain where it can and where it is best suited. Monitization of blockchain applications is tough however Novateqni is identifying practical blockchain based applications which can actually bemonitized from a revenue perspective.”
NovaTeqni is a technology based company that is focusing on biometrics and financial technologies. Using its management experience and developed intellectual property, NovaTeqni provides solutions and products for voter validation, voter registration, financial transactions and biometric solutions. Using its platform of products, NovaTeqni can provide clients with custom solutions for their particular industry. NovaTeqni has corporate offices in Calgary, Alberta, sales offices in Virginia Beach, Virginia, development offices in Johannesburg, South Africa and manufacturing in Hong Kong.
For further information, please contact Gerhard Mynhardt, Chief Executive Officer of the Corporation, by email at email@example.com.