(via TheNewswire)
Montreal - TheNewswire - April 3, 2020 - ZeU Crypto Networks Inc. (CSE:ZEU) (CNSX:ZEU.CN)would like to provide an assessment of the impacts on its operations and business development of the COVID-19 pandemic. The company is also pleased to announce the addition of Mr. Jasseem Allybokus to its board of directors.
COVID-19 Impacts
ZeU's core development team and the third-party contractors who contribute to the different development efforts have been mostly working remotely. In the past, the company had installed small groups of developers in decentralized office spaces. The main challenge faced by the company in the context of the social distancing directive is to manage these groups remotely, allowing the free flow of data while keeping data secured. The company has seen a short-term productivity reduction that is progressively being resolved as people get accustomed to the new reality of our work organization.
The pandemic also impacts interactions with third-party providers. Presently, management doesn't foresee any delay in the filling of its disclosure obligations. However, if such delay would become inevitable in the near future, the company will issue a press release and elect to adopt the extended timeline recently allowed by the Canadian regulators.
"(...) The world has changed. There is no going back to where it was a few short weeks ago before our economies went into confinement mode. The way people are now conducting business will have a lasting impact on how we will work with each other for years to come (...) For our team, it required just a bit of adaptation and minimal temporary pain. (...) However, it forces fundamental changes in the way some other entities conduct their business.
"In the last two weeks, we have received more requests for information about the products that we are developing than we had since creating the company. Our encryption solutions, decentralized database management, and backup and encrypted communications tools are well-positioned to take on the challenges created by this new business environment. Furthermore, our SaaS medical data management initiative will be useful to follow in real-time the early spread of any new virus and contribute to the collective efforts to avoid a pandemic like COVID-19 in the future. We can only be grateful that ZeU is already a post-COVID enterprise (...)," commented Frank Dumas, President of ZeU.
New Board Director
ZeU is pleased to welcome Mr. Jasseem Allybokus to its board of directors effective immediately. Jasseem is currently the CTO of the French multi-local marketing technology leader Visiperf and a network monetization specialist. He is an engineer by training and a serial entrepreneur with a passion for agile problem solving and data democratization. Jasseem has spent 13 years with small and large corporations on the technical and business fronts. He's the co-founder of ParkMyCar and Ecrilib and has worked with Air-France-KLM and SFR. Jasseem speaks four languages and holds a Master Degree from Universite de Paris-V (Descartes).
ON BEHALF OF THE BOARD OF DIRECTORS
"Frank Dumas"
Frank Dumas
President & CEO
About ZeU
ZeU is a forward-thinking Canadian technology company that has developed a state-of-the-art blockchain protocol, providing the foundation for the next-generation of encrypted and distributed networks. Thanks to its high level of sophistication, ZeU's technology maximizes transparency, security and scalability as well as big data management. ZeU's strategy is to monetize blockchain transactions in diverse sectors such as payment, gaming, data, and healthcare.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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