Novateqni to Incorporate Blockchain into Farmers Management System and Announces Prototype Completion of Finger Print Door Access System with Virtual Reception and Time and Attendance Functionality
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NOVATEQNI TO INCORPORATE BLOCKCHAIN INTO FARMERS MANAGEMENT
SYSTEM AND ANNOUNCES PROTOTYPE COMPLETION OF FINGER PRINT DOOR
ACCESS SYSTEM WITH VIRTUAL RECEPTION AND TIME AND ATTENDANCE
FUNCTIONALITY
FOR IMMEDIATE RELEASE
October 4, 2017 – Calgary, Alberta – NovaTeqni Corporation (“ NovaTeqni ” or the " Company ")
(TSXV - NTQ: OTCQB - NVTQF) is continuing to examin e 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 of a
blockchain. In examining current and future projec ts, the Company has decided to commence the
development of a new version Farmer’s Mangement Sys tem 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 whi ch was first launched in Malawi includes
government quality biometrics, fixed offices, wirel ess and land line communications, cloud based
computing, and mobile biometrics systems. Farmers were issued secure contactless smart cards
containing biometrics data to allow instant identif ication. 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 secur ity layer to further distribute encrypted ledgers. This
will allow for the safer and more secure storage of the biometrics and biographical information of use rs.
Local biometrics matching when required will also b e possible such as match on device or match on card
Once developed the upgraded system can be used by a variety of enterprises.
The new system will be customizable to work for dif ferent standard and non standard product
applications such as Know Your Customer, student re gistration, access control, time and attendance,
health plans, drivers liscences, voter validation, voter registration, and money transfers.
Novateqni is also pleased to announce it has comple ted the prototype and first demonstration to sales
partners of its finger print based door access syst em with fully integrated virtual reception and time and
attendance functionality. An iris based version of the 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 developme nt of the new Famers Management System using
blockchain and to prepare production ready versions of 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 th e Company’s transition from tender based sales to
more predictable and reliable standard product sale s. In addition, the Company sees various efficienc ies
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 b est
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suited. Monitization of blockchain applications is tough however Novateqni is identifying practical
blockchain based applications which can actually be monitized from a revenue perspective.”
About Novateqni
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 protected] .
Reader Advisory
This press release contains forward-looking stateme nts and forward-looking information within the mean ing of
applicable securities laws. The use of any of the w ords "expect", "anticipate", "continue", "estimate" , "objective",
"ongoing", "may", "will", "project", "should", "bel ieve", "plans", "intends" and similar expressions a re intended to
identify forward-looking information or statements. More particularly and without limitation, this new s release
contains forward looking statements and information concerning the Company’s Farmers Mangement System and
the completion and rollout of the Company’s finger print and iris based door access system with virtua l reception
and time and attendance functionality. The forward- looking statements and information are based on cer tain key
expectations and assumptions made by the Corporatio n, including expectations and assumptions concernin g the
business of the Corporation. Although the Corporat ion believes that the expectations and assumptions on which
such forward-looking statements and information are based are reasonable, undue reliance should not be placed on
the forward looking statements and information beca use the Corporation can give no assurance that they will prove
to be correct. By its nature, such forward-looking information is subject to various risks and uncert ainties, which
could cause the actual results and expectations to differ materially from the anticipated results or e xpectations
expressed. These risks and uncertainties, include, but are not limited to, the Corporation's expectat ions and
assumptions concerning the business of the Corporat ion and the ability to complete development of a ne w farmers
management system usng blockchain and complete and rollout the Company’s finger print and iris based d oor
access system with virtual reception and time and a ttendance functionality. Readers are cautioned not to place
undue reliance on this forward-looking information, which is given as of the date hereof, and to not u se such
forward-looking information for anything other than its intended purpose. The Corporation undertakes no
obligation to update publicly or revise any forward -looking information, whether as a result of new in formation,
future events or otherwise, except as required by a pplicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.