A Canadian based tech firm Ubique Networks Inc. has signed a Memorandum of Understanding (MoU) with Sri Lanka Telecom (SLT) to launch a blockchain-based eSports platform.
The MoU was signed at the official residence of the Canadian High Commission to Sri Lanka. According to the agreement, the SLT eSports Platform would be powered by Ubique Networks’ Swarmio platform, a decentralized competitive gaming platform that enables eSports enthusiasts to play and organize competitions on latency optimized game servers.
Swarmio which is the first third-party DApp built on the company’s Q Network, currently serves over 25,000 eSports gamers across globe.
Speaking at the meeting where the agreement was reached, Vijai Karthigesu, CEO of Ubique Networks, said the SLT eSports Platform “will allow Sri Lankan gamers to raise their profiles to international levels.”
He noted that, “SLT is using the Swarmio eSports platform and the Q network to deliver a powerful solution to the millennials in Sri Lanka.”
More so, he added that SLT has began a project that would see it build a 5G mobile Internet-of-Things (IoT) DApp for Smart Cities using the Q Network.
Giving reasons for embarking on the project, Karthigesu said, “Our vision is to build a hyper-connected compute network where user-generated personal devices are easily on-boarded and linked with one another, delivering the next generation of immersive and interactive applications.”
“We believe that future advancements across all fronts will be powered by a decentralized world, owned, shared and operated by the global community.”
He noted that, Q Network, a project launched in 2015, is the culmination of a 20+ year career building the backbone of Canada’s telco infrastructure.
It was developed over a three-year period with US$7 million in total investment from the Canadian Government and venture capital (VC) firms. The company is planning an initial coin offering (ICOs) to decentralize its technology and tokenize the business model.
“We are now moving both the Q network and the Swarmio application to blockchain and decentralizing the technology and tokenizing the business model,” Karthigesu added.
Although, Ubique is on a global expansion strategy, with Sri Lanka being the first country it is focusing on in Asia, Karthigesu noted that plans are already in top gear to forge alliances with large Asian telecom companies in Singapore, Malaysia, Philippines, India and Thailand, as well as IoT companies, and eSports partners, to expand the utility of the Q Network.