Red Bank, NJ, Jan., 2025 (GLOBE NEWSWIRE) -- VeeMost Technologies Inc., formerly Global Developments, Inc. (OTC:GDVM), a publicly listed company and an emerging leader in technology consulting and digital transformation, is pleased to announce its strategic initiative to build a proprietary enterprise-grade blockchain platform aimed at empowering businesses and government organizations with secure, transparent, and efficient digital solutions. This initiative marks VeeMost’s entry into the blockchain ecosystem with a focus on real-world applications that address supply chain management, licensing, digital identities, and payments.
The development of this blockchain is aligned with VeeMost’s commitment to fostering innovation, trust, and transparency for its clients and will further position the company as a key player in the evolving digital economy. The platform will not only serve external clients but also be integrated into VeeMost’s e-commerce store, VeeStore (store.veemost.com), to streamline payment processing, product verification, and licensing services.
An Open Yet Controlled Blockchain System
Unlike public blockchains that lack regulatory oversight or private systems with limited scalability, VeeMost’s blockchain will balance flexibility and governance, making it an ideal platform for enterprises, educational institutions, and government agencies seeking robust solutions for secure and automated processes.
“Our blockchain platform is being designed to solve specific problems for our clients,” said Melvin Ejiogu, President of VeeMost Technologies Inc. “By leveraging this platform internally and externally, we will enhance our operational efficiency, strengthen client trust, and create new revenue streams that position us for long-term growth.”
Project Timeline and Key Milestones
The project is structured into four key phases to ensure timely development, rigorous testing, and successful market entry:
Phase 1: Research and Planning (Months 1-3)
- Finalize blockchain architecture and staffing plans.
- Secure strategic partnerships and identify pilot clients.
Phase 2: Development and Initial Testing (Months 4-9)
- Build the foundational blockchain layer and smart contract functionality.
- Release a Minimum Viable Product (MVP) for internal testing and feedback.
3. Phase 3: Pilot Rollout (Months 10-12)
- Conduct pilot deployments for key clients, including supply chain verification, licensing automation, and digital identity use cases.
- Integrate VeeStore as a pilot use case to accept blockchain-enabled payments and enable customers to verify product authenticity and digital licenses.
4. Phase 4: Public Launch (Months 13-18)
- Official rollout of the blockchain platform with comprehensive APIs for partners.
- Launch subscription-based access, licensing plans, and transaction services for enterprises, schools, and resellers.
By integrating blockchain into VeeStore, VeeMost will enhance its e-commerce payment processes, allowing customers to make secure payments with cryptocurrency or traditional methods while reducing transaction fees and settlement times.
Revenue Growth and Monetization
VeeMost’s blockchain platform will generate revenue through several streams, including:
- Licensing Fees: Organizations can license the platform for digital identity verification, supply chain transparency, and smart contracts.
- Subscription Plans: Clients can subscribe to Blockchain-as-a-Service (BaaS) for managed blockchain environments tailored to their needs.
- Transaction Fees: Revenue will be generated through low-cost transaction processing and asset-tracking services.
- Consulting Services: VeeMost will offer advisory services for blockchain integration, smart contract development, and decentralized application (dApp) creation.
Supporting VeeMost’s Nasdaq Uplisting Strategy
This blockchain initiative supports VeeMost’s broader goals of expanding its market reach and increasing revenue as the company prepares for an uplisting to Nasdaq in near future. The projected timeline ensures that the platform will be operational within 18 months, contributing to VeeMost’s long-term strategy of sustainable growth and innovation.
About Veemost Technologies Inc.
VeeMost Technologies Inc. is a technology solutions provider specializing in network infrastructure, cloud services, IT consulting, and digital transformation. With a focus on government, education, and enterprise markets, VeeMost delivers customized solutions that empower organizations to operate securely and efficiently in a digital-first world.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
