Boardwalktech Signs New Customer Engagement in Food & Beverage Market
Latest Contract Highlights Continuing Traction for Boardwalk Platform
CUPERTINO, CA, April 2, 2019 /PRNewswire/ - (TSXV:BWLK) - Boardwalktech Software Corp. ("Boardwalktech"), a leading digital ledger platform and enterprise software solutions company, announced today it has signed a new engagement with another US-based Fortune 250 food & beverage company for deploying the Boardwalk Blockchain Digital Ledger Platform to support multi-party exchanges with its trading partners in their global supply chain. This new engagement will contribute some revenue in the upcoming quarter, with a larger deployment expected during the second half of this year. Due to the perceived competitive advantage that the Boardwalktech platform provides, the customer has requested that its name be withheld.
"By selecting Boardwalk's Platform, this company is digitalizing manual processes, which reduces process time from weeks to days, increases revenues and margins, enables better pricing and lowers inventories. The ROI to the business is significant," said Andrew T. Duncan, President and CEO of Boardwalktech Software Corp. "Until now, companies have had no path to automate manual processes that are rampant within every enterprise where communicating between multiple parties is still primarily done using email with attached Excel spreadsheets. For companies to compete in today's fast-moving world, they must transform to a 100% digital state where information in the value chain is exchanged digitally and decisions are predictive and rapid using real time, trusted data." The ability to manage these exchanges of information efficiently and securely through digital transformation has become the leading area of focus for food & beverage companies and a critical component of building a sustained competitive advantage in the market."
The Boardwalk Blockchain Digital Ledger Platform is designed and ideally suited for multi-party enterprise applications enabling trusted, authenticated and secure transactions managed on a private permissioned digital ledger. What is unique about the Boardwalktech digital ledger technology is that it captures the provenance of both on and off chain data exchanges between multiple parties. The Boardwalk Platform provides the end-to-end framework needed for enterprise customers to digitally transform existing manual processes enabling a more timely, accurate, and predictive business outcome.
Boardwalktech has developed a patented Blockchain Digital Ledger Technology Platform that is in use today by 26 of the Fortune 500 running over 100 live mission critical applications world-wide. The platform allows for multi-party collaboration, provenance, verification and immutable transactions on a trusted, shared, and secured private permissioned blockchain cloud service. The Boardwalktech platform allows rapid digital ledger application development on any device or user interface, supporting both on/off-chain "smart contract" business logic and full integration with enterprise systems of record.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.
An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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Released April 2, 2019