BIGG Digital Assets Inc. subsidiary Blockchain Intelligence Group Signs CAD ~$320,000 Contract with United States Federal Government Agency

Rhea-AI Summary

BIGG Digital Assets Inc. (BBKCF) announced a one-year contract with a U.S. Federal Government agency worth CAD ~$320,000 for QLUE licenses. The payment will be received upfront, enhancing BIGG's cash reserves. The QLUE technology is widely utilized by law enforcement and financial institutions for blockchain security investigations. This contract underscores BIGG's established vendor relationship with the U.S. government and highlights the strength of QLUE as a leading service within the blockchain forensic field.

Positive

• Signed a contract with a U.S. Federal Government agency valued at CAD ~$320,000.
• Upfront payment improves cash reserves.
• QLUE is recognized as an industry-leading technology for blockchain investigations.

Negative

• None.

VANCOUVER, British Columbia, Sept. 28, 2020 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Blockchain Intelligence Group (“BIG”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that it has signed a 1-year contract with a United States Federal Government agency valued at CAD ~$320,000 to deliver QLUE licenses.

BIG will receive payment upfront for the full value of the contract, adding to our cash reserves.
BIGG will not be naming the specific agency in this release out of respect for the agency’s critical national security mission.

BIG’s QLUE^TM (Qualitative Law Enforcement Unified Edge) is used by Law Enforcement, Banks, Exchanges, ATM Operators to perform due diligence and blockchain security investigations at greater forensic depth by exploring where the related funds are coming from and going to, and the profiles of the entities involved. QLUE^TM allows for the export of an investigation and in turn this can be saved on file for regulators, or to request a subpoena or be provided as evidence in court.

Blockchain Intelligence Group’s president, Lance Morginn, commented “QLUE^TM continues to impress prospects and customers alike who are seeking blockchain forensic and graphing tools. This contract further extends BIGs relationship and vendor status with the US government, and once again proves QLUE^TM is an industry leading service.”

On behalf of the Board,

Lance Morginn
President / Director
lance@blockchaingroup.io
T:+1.778.819.8702

About BIGG Digital Assets Inc.

BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (netcoins.ca).

Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUE^TM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified^®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.

Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified^® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.

For more information and to register to BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.

Forward-Looking Statements:

Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.

FAQ

What is the significance of BIGG digital assets' contract with a U.S. Federal agency?

BIGG signed a one-year contract valued at CAD ~$320,000, enhancing its financial position.

What is the QLUE technology used for?

QLUE is a blockchain forensic tool used for investigations by law enforcement and financial institutions.

How does the contract affect BIGG's stock BBKCF?

The contract adds upfront revenue to BIGG's cash reserves, potentially positively influencing investor sentiment.

Why is BIGG not disclosing the name of the U.S. Federal Agency?

BIGG respects the agency's critical national security mission, hence the confidentiality.