DeepMarkit Engages Quantstamp for Security Assessment Services
The Company's Choice of Quantstamp is Driven by the Goal of Maximizing the Enhancement of the Codebase Security in its MintCarbon.io Platform
CALGARY, AB, June 17, 2022 /CNW/ - DeepMarkit Corp., ("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF) (FRA: DEP), a company focused on transitioning the global carbon offset market to the more accessible digital economy by minting credits into non-fungible tokens ("NFTs"), is pleased to announce that its wholly owned subsidiary, First Carbon Corp. ("FCC"), has engaged Quantstamp, Inc. ("Quantstamp") via a Statement of Work (the "SOW" or "Agreement") to provide security assessment services related to FCC's MintCarbon.io platform (the "Platform") as well as to enhance codebase security.
Pursuant to the SOW, Quantstamp will provide the resources needed to perform a security assessment of the Platform's codebase over a 90-day period. Should any security issues be discovered, Quantstamp will provide findings and options for DeepMarkit and FCC to consider in order to rewrite the code. FCC's obligations under the Agreement are to be responsible for providing access to personnel, content, resources, systems and information as may be needed by Quantstamp to perform the proper assessments and to carry out any improvements.
"We are excited to announce our engagement of Quantstamp to review and ultimately enhance the MintCarbon.io platform's codebase security. It's a wise investment in our technology and in our competitive strategy to ensure that our products and ideas are well designed and protected. We continue to develop the MintCarbon.io platform and are also considering other new innovations to enhance the global carbon offset credit and renewable energy certificate markets," said Ranjeet Sundher, Chief Executive Officer of DeepMarkit.
Quantstamp is a leader in blockchain security and its mission is to securethe decentralized internet. To date, it has protected over $200 billion in digital asset risk from hackers. Start-ups, foundations and other enterprises work with Quantstamp to protect their innovative ideas and products. Quantstamp's services include securing Layer 1 blockchains, securing smart contract powered NFT and DeFi applications as well as developing financial primitives for Layer 1 blockchain ecosystems. With Web3 security more critical than ever, developers are encouraged to test and evaluate codes by engaging with an established third-party security auditor.1 Therefore, DeepMarkit's engagement of Quantstamp through FCC is aligned with its goal of ensuring the security of the Platform for users and stakeholders.
Service Provider Engagement
New Era Publishing Inc. (dba CarbonCredits.com). has been engaged to provide news release coverage, create a custom advertorial email, create an advertorial on CarbonCredits.com and provide other coverage of the Company on CarbonCredits.com. The contract is for a term of four months commencing on June 1, 2022 for a fee of US$180,000. CarbonCredits.com is arm's length to DeepMarkit and carboncredits.com employees may own securities of DeepMarkit but are not allowed to trade during the engagement period. The engagement of CarbonCredits.com is subject to approval by the TSX Venture Exchange.
DeepMarkit Corp. is a company focused on democratizing access to the voluntary carbon offset market by minting credits into NFTs. Its common shares are listed on the TSX Venture Exchange under the "MKT" stock symbol. FCC is a software infrastructure company operating in the tokenization vertical of the blockchain. FCC's primary asset, MintCarbon.io, is a web-based, software-as-a-service platform that facilitates the minting of carbon credits into NFTs (based on the ERC-1155 standard) or other secure tokens (based on the ERC-20 standard). MintCarbon.io is currently undergoing testing and FCC anticipates an official launch of the platform in the near future.
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Statements in this news release may contain forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements, including statements relating to the Company's business and corporate plans including, without limitation, the tokenization of high quality, verified carbon credits. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of DeepMarkit. Various factors can cause the actual results to differ materially from those in forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this news release and DeepMarkit does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
SOURCE DeepMarkit Corp.