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Press release content from Newswire. The AP news staff was not involved in its creation.
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Press release content from Newswire. The AP news staff was not involved in its creation.

BlueBarricade Blockchain: 100 MSEK Direct Issue to New Investors - New Investor Presentation Released

July 5, 2021 GMT
BlueBarricade Blockchain & AI Technology AB (publ)
BlueBarricade Blockchain & AI Technology AB (publ)
BlueBarricade Blockchain & AI Technology AB (publ)

STOCKHOLM - July 5, 2021 - ( Newswire.com )

Following a successful performance test of 1,400 transactions per second on an IBM Blockchain Platform, BlueBarricade™ has issued an investor presentation for new investors. The news was stated in a press release last week and is a breakthrough to adopting blockchain technology for global enterprise and large transaction volumes.

Sweden-based software house BlueBarricade Blockchain & AI Technology AB (publ) points out that the urgency of implementing blockchain technology on a large scale cannot be overstated. Despite a predicted market value reaching up to 3.1 trillion USD by the year 2030 ( Source: Gartner ), slow speed and poor scalability of blockchain have limited the deployment rate.

With recent performance tests conducted by BlueBarricade, supported by IBM and HCL Technologies, these issues have been addressed, showing a result of 1,400 transactions per second on large multi-tenant installations.

At BlueBarricade’s AGM on June 17 of 2021, it was decided to give the board authority to make a direct issue of shares up to 9% of the existing 5,418,309 shares, resulting in 487,000 new shares and a total of 5,905,309 shares. Issue volume is 100 MSEK. BlueBarricade further states in the investor presentation that the bulk of product development is finished and the funds will be used in building customers and software marketing worldwide.

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For more information, please contact:
Lennart Molvin
Executive Chairman Of The Board, on behalf of BlueBarricade Blockchain & AI Technology AB
lennart.molvin@bluebarricade.com
+46 (0) 705 161665

Press Release Service by Newswire.com

Original Source: BlueBarricade Blockchain: 100 MSEK Direct Issue to New Investors - New Investor Presentation Released