Parent company of Cognitive Apps Software Solutions, Life Clips (OTCMKTS:LCLP) on July 22, 2021 announced Belfrics Tanzania had done awareness creation as well as knowledge sharing workshop that discussed blockchain solutions with the Tanzanian Government.
Conducted by Dr.FaustineNdugulile titled “Block Chain Technology: Opportunities and Risks”, Ndugulile is Tanzania’s Minister for Information and Communication Technologies Commission.
It also included members of the Commission, Bank of its central bank, The Bank of Tanzania, The Capital Markets and Securities Authority and The Tanzania Communications Regulatory Authority. Additionally, it also had presence of its Revenue and e-Government Authority besides representatives from private sector and academic institutions.
Robert Grinberg, CEO of Life Clips, said that Tanzania is most populous and largest nation in East Africa and has been able to achieve growth rates due to its natural resources at 6%-7% per year. Grinberg added that the country has good relationship with US government and hence the relation between Tanzania government and Belfrics will be beneficial.
Belrium, which is Belfrics Group global blockchain technology, has good financial framework with data security. This ensures no unverified wallet transactions are processed on its public blockchain.
Praveen Kumar, CEO & Founder of Belfrics, said that the government of Tanzania is a brilliant opportunity for the blockchain firm. Belrium currently processes transactions for a number of projects of national interest including healthcare documentation services, university certifications as well as inter-governmental data harmonization.
Market Reaction:
On Wednesday, LCLP stock fell 12% at $0.0275 with more than 88.03 million shares, compared to its average volume of 61.30 million shares. The stock has moved within a range of $0.0263 – 0.0370 after opening the trade at $0.0300. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0619.
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