MakoLab reports increase in revenues in the first quarter of 2018 and the first effects of investments in innovative technologies, including Blockchain

MakoLab reports increase in revenues in the first quarter of 2018 and the first effects of investments in innovative technologies, including Blockchain

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MakoLab's revenues increased by 32% in the first quarter of 2018 compared to the same period last year. In response to the growing interest in the solutions offered for the automotive and finance sectors, the Company increases the employment of specialists and invests in research projects using Blockchain and semantic technologies.

2018 saw an uplift in work undertaken at MakoLab, with all teams up on productivity, none mores o than the Connected Car team formed in 2017. In total, the quarterly sales revenues of the Company increased by almost 1/3 in relation to the same period in 2017. The investments undertaken in the organization's development and new teams last year have brought positive effects. The growing demand of the Company's clients for services related to digital transformation leads the Company to further increase the employment of specialists and consistently conducting R & D works in order to be able to offer innovative solutions for key sectors within the company - automotive and financial. They touch on such "hot" topics as Blockchain and Internet of Things technologies.

We continue to invest in both increasing the team and increasing the team's competencies, as well as developing and implementing innovative technologies that are currently driving the development of key activities in the automotive and financial industries from the point of view of our revenues. Apart from increasing revenues, we are proud that we consistently conducted activities in the field of R&D, which have been expanded upon with products and technologies that are noticed by markets. Our GraphChain concept gives us a strong position in the field of blockchain technology, and LEI.INFO dedicated mainly to the American market has been noticed by environments interested in FinTech and RegTech solutions.

says Wojciech Zieliński, President of the Board at MakoLab SA.

GraphChain is an innovative concept in Blockchain technology that is the foundation of cryptocurrencies and potentially many other banking services. GraphChain is the application of classic and well-known "graph" databases with all their advantages (such as explicit data semantics, perfect search, etc.) secured with Blockchain methods. This allows creating completely new solutions that combine the flexibility of the graph bases with the security provided by Blockchain. The concept was publicly presented at the large industry conference in Lyon, "The Web Conference" and in an article published by the publishing house "Association for Computing Machinery". Work on this technology is financed from a grant received from the National Center for Research and Development under the European Union programs.
The subsidiary company - MakoLab USA, Inc. launched the first prototype version of LEI.INFO. The basic business model for LEI.INFO is the provision of digital services related to Legal Entity Identifier (LEI) - a global identifier for business entities. It was created in 2012 at the initiative of the G20 group of countries and the Financial Stability Board (FSB) to identify banks and other entities involved in financial transactions. Undeniable identification of such entities is a necessary element in preventing financial crises. LEI.INFO provides the search engine for entities and advanced digital services related to data, the LEI system itself as well as from other sources, thus providing a very rich information about business entities on a global scale. It is planned that LEI.INFO will also provide registration services in the LEI system.

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