Life Clips’ Subsidiary BelfricsBT Signs MOU With Bluewave International To Explore Blockchain Solutions For Supply Chain Disruption

Rhea-AI Summary

Life Clips (OTC Pink: LCLP) announced a partnership between its subsidiary BelfricsBT and Bluewave International to explore blockchain applications in supply chain management and other sectors. This collaboration aims to enhance transparency, traceability, and efficiency in various industries across Africa. With blockchain's potential to transform supply chains and address ongoing global disruptions, the partnership could play a significant role in optimizing operations for governments and businesses. Both companies aim to drive innovation while aligning with the 4th Industrial Revolution.

Positive

• Strategic partnership between BelfricsBT and Bluewave International to leverage blockchain for enhanced supply chain management.
• Focus on addressing global supply chain disruptions, potentially benefiting many industries.
• Belfrics recognized by Gartner as a top 10 blockchain provider, enhancing credibility.

Negative

• No specific financial metrics or projections provided to determine potential impact on LCLP's revenue.
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BelfricsBT offers solutions to eradicate the disruption in the global supply chain

AVENTURA, Fla., Jan. 20, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today its Belfrics subsidiary BelfricsBT and Kenya based Bluewave International signed a memorandum of understanding (MOU) to explore the capabilities of blockchain in supply chain management, remittance, tolling, wildlife park management, and other areas of interest to both parties.

Bluewave International is a full-service IT solutions firm specializing in digital advertising, queue management system, web-based application development, and market support systems. BelfricsBT is the technology division of Belfrics Global, which is a comprehensive blockchain technology solutions company helping businesses bring transparency and decentralization to their operations.

The partnership between Bluewave International and Belfrics seeks to push innovation in Africa to the next level. The companies seek to use customized African software solutions for governments and businesses enabling the continent to embrace the 4th Industrial revolution and give it a competitive edge in global markets.

Simon Katumo, CEO and co-founder of Bluewave International, said, “Blockchain will improve traceability, transparency and tradability, and have a massive impact on every sector that will use this technology. Our main interests will be in the banking, financial services, government, healthcare, energy, transportation, and logistics sectors.”

“Belfrics blockchain solutions are designed to ensure a seamless decentralized customer experience that can be built-in together with legacy systems to ensure full maximization of investments,” said Jackline Gachiri, Lead Researcher for BelfricsBT.

BelfricsBT is at the forefront of creating blockchain solutions, while Bluewave International is an industry leader in terms of building customized solutions in various markets. The partnership will focus on providing an exemplary customer experience through efficiency, transparency, security, and cost-savings. According to the New York Times, supply chain issues are likely to last for many more months — if not years, as some experts have warned that the global economy is overly reliant on lean production and faraway factories. The pandemic has seemingly validated that view, and the supply chain has become a central political issue. It is also a key factor in rising inflation, which is deepening concerns about the fate of the global economy and its recovery from the lockdowns of the pandemic.

Belfrics CEO and Founder, Praveen Kumar, said, “Blockchain is a distributed ledger technology that allows multiple parties worldwide to efficiently access and verify immutable copies of transactions, which minimizes risk throughout the supply chain. Blockchain is transforming supply chains by reducing errors and increasing transparency and auditability in the movement of products from producer to consumer.”

Robert Grinberg, CEO of Life Clips, said, “Gartner, the same organization that has recognized Belfrics as being a top 10 blockchain in terms of real-world projects, predicts that blockchain could be able to track $2 trillion of goods and services in their movement across the globe by 2023. Gartner also expects blockchain will be a more than a $3 trillion business by 2030.” Mr. Grinberg continued, “Emerging technology and ethical sourcing are ever evolving and important for compliance and staying competitive. Blockchain possesses the potential of transforming global supply chain management, and Belfrics is planning to take a leading role."

About Us

Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees’ mental health. Cognitive Apps is developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Aiki is available on Apple‘s App Store.

For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com

Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.

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FAQ

What is the partnership between Life Clips and Bluewave International regarding blockchain?

Life Clips' subsidiary BelfricsBT partnered with Bluewave International to explore blockchain applications in supply chain management and other sectors.

How does blockchain technology impact supply chains according to Life Clips?

Blockchain enhances traceability, transparency, and reduces errors in supply chain management, improving overall efficiency and auditability.

What recognition has Belfrics received in the blockchain industry?

Belfrics has been recognized by Gartner as a top 10 blockchain provider in terms of real-world applications.

When was the partnership between BelfricsBT and Bluewave International announced?

The partnership was announced on January 20, 2022.

How might the partnership affect Life Clips' stock (LCLP)?

While the partnership aims to innovate supply chain solutions, no specific financial metrics were disclosed to assess its direct impact on LCLP's stock performance.