VANCOUVER, British Columbia, May 24, 2019 (GLOBE NEWSWIRE) -- LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT) (OTC:LLNKF), a leader in logistics, artificial intelligence and digital payment solutions is pleased to announce that it has been selected by Deloitte Canada to bring technical experience to key client engagements.
This collaboration has already generated a successful client engagement, as Deloitte and LiteLink have effectively delivered a blockchain solution in the supply chain, logistics space for a key public sector client. This Minimum Viable Product (MVP) was built on Quorum, a permissioned, enterprise grade fork of the Ethereum public blockchain platform developed by J.P. Morgan.
Deloitte began identifying a suitable use-case with their client in late 2017 to validate the alignment of the problem with the technology. This solution enables a shared trusted record of immutable, transparent data between participants to drive operational efficiencies in an existing process that is manual and involves multiple stakeholders. The solution also allows the automation of activities with the use of smart contracts creating further efficiency gains amongst parties.
“LiteLink collaborated with Deloitte to be an early adopter seeking out Clients that had a real need for the use of blockchain. We found a very necessary use case to drive immutable audit trails and mission-critical workflows to drive the cost of human error and leakage down in a multinational setting,” said Jason Lawrence, LiteLink CTO.
“These types of relationships with Deloitte are exceptionally important to gain access to large enterprise opportunities where we can leverage each other's strengths, economics, and talent pool to drive out the best blockchain solutions for our customers,” commented LiteLink CEO Ashik Karim.
“Supply chains and logistics systems in both the private and public sectors are rife with opportunities to be revamped and reimagined. By applying Blockchain technologies as an innovative and effective tool to lead this overhaul, Deloitte is pleased to team up with companies like LiteLink to bring more value to shareholders and ratepayers,” said Don MacPherson, Engagement Partner at Deloitte.
LiteLink combines deep industry experience in Logistics with leading-edge technologies to create an ecosystem of shippers, third-party logistics companies, and trucking carriers to operate together with a reduced effort, lower cost, and greater predictability. LiteLink has also established a core blockchain team in British Columbia that has found practical applications for the use of blockchain in logistics, supply chain, and rating.
About LiteLink Technologies Inc.
LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. For more information about LiteLink Technologies Inc., please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.
For further information, contact Bronson Peever at 833-205-6945 ext. 3742 or investor@litelinktech.com.
Forward-looking Statement
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information and do not represent any statements or information from Deloitte. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.