ZK International Group Co., Ltd. , today announced that its subsidiary, xSigma Corporation, have signed a letter of intent (“LOI”) with Dentoro Alliance LP . Pursuant to the LOI, Dentoro proposes to earn 49% of xSigma’s equity interest and to form a partnership with xSigma to build solutions that would add value in logistics, IoT, infrastructure, and in Company’s supply chain management. In the hopes of leveraging the ever evolving blockchain technologies being developed world-wide, the Company believes that Dentoro’s experience could help the Company develop its own R&D Lab made up of world-class software developers.
The Company’s mission is to spearhead the adoption of decentralized technologies by researching, analyzing, and testing innovative concepts and use cases. By finding new ways to utilize the blockchain, xSigma will look at revolutionizing traditional industries and making financial tools more accessible. The goal is to build a product ecosystem that realizes the true potential of blockchain in promoting open access and financial inclusion world-wide.
ZK International launched xSigma as a research and development lab back in 2018 to solve real-world infrastructure challenges. Its mandate was to explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions.
The Company’s Chairman, Mr. Huang stated, “the Company will look at recruiting the brightest minds from the blockchain arena to its xSigma research lab. The aim is to have the lab run by a world-class team of developers. At xSigma we are excited about assembling a team that are on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure. We are planning on announcing new applications and solutions in the near future.”