Advanced Blockchain AG (ISIN DE000A0M93V6) has signed a Letter of Intent (LOI) with a German telecommunications provider.
The non-binding memorandum of understanding is for both partners to develop a blockchain-based protocol for billing on Internet of Things (IoT) networks.
Later, 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.
Advanced Blockchain AG
Chausseestrasse 86, 10115, Berlin, Germany