Canadian financial analytics and risk management company BlackChain Solutions Inc. has announced its intent to launch a P2P crypto-lending platform in partnership with DMG Blockchain Solutions Inc., a diversified blockchain and cryptocurrency company.
BlackChain takes advantage of blockchain technology to make innovations in the lending industry. DMG owns the Prometheus technology, BlackChain intends to use for its planned P2P crypto-lending platform.
Originally developed by Blockseer, Prometheus was acquired by DMG this year.
BlackChain’s announcement comes with the signing of a letter of intent to license Prometheus. In its proposal, BlackChain stakes its claim to the P2P crypto-lending platform using Prometheus; in other words, an exclusive license.
Negotiations have yet to commence, but both companies believe that they will reach an agreement by the 15th of May.
In a press release, BlackChain Chief Technology Officer Zayn Kalyan says:
DMG and Blockseer have developed a truly next-generation blockchain platform with Prometheus. As the crypto space matures, evolutionary approaches to system design will be the foundation for growth. Prometheus will enable BlackChain to deliver a cutting-edge product in our P2P Lending Platform. We look forward to working with DMG on other projects in the future.
Likewise, DMG CEO and Director Daniel Reitzik is happy with the potential partnership and is quoted as saying:
We are extremely pleased to be partnering with BlackChain on their first commercial venture. Prometheus represents the next generation in blockchain technology, whose simplified, browser-based platform is opening up whole new markets in the cryptocurrency space. We hope that this LOI will be just the beginning in a growing relationship between DMG and BlackChain.