Signs 3-year exclusive agreement with the State of the African Diaspora (SOAD) to provide cloud data infrastructure platform, products, and services
LambdaXchange™ will support SOAD’s digital mobile banking services, central bank digital currencies, derivative cryptocurrencies and exchanges, mobile and e-commerce services to their potential global market of 1.7 billion people
Company to access private capital markets to further scale cloud data infrastructure platform
Luxcore, Inc., an early-stage cloud data infrastructure provider, announced the production release of its LambdaXchange cloud data infrastructure platform, an AI-enabled distributed ledger technology platform for the intelligent routing, switching and transport of data with exchange points in Miami, Dallas and Atlanta.
In conjunction with this initial production release, on January 8, 2022, Luxcore signed its first multinational enterprise customer with the Government of the State of the African Diaspora (SOAD). SOAD is a Treaty Member of the Economic Community of States, Nations, Territories and Realms of the 6th Region of Africa. Through this exclusive three-year agreement, Luxcore will provide its LambdaXchange™ cloud data infrastructure platform, products, and services in support of digital mobile banking services, central bank digital currencies, derivative cryptocurrencies and exchanges, mobile and e-commerce services to SOAD’s global market of potentially 1.7 billion people.
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“Our Parliament recently passed a law establishing our Code of Nationality and Citizenship: thus, the African Diaspora and also the Africans on the continent shall be eligible for SOAD’s digital ID,” said Dr Louis-Georges Tin, Prime Minister of SOAD. The ID Card will function as a Multi-Card. This historic initiative will provide digital services such as giving access to elections, our education system, banking and crypto services, e-commerce and more. We are excited to partner with Luxcore as our exclusive cloud services technology provider to help SOAD fulfil its goals and to enhance the lives of potentially 1.7 billion people globally.”
Luxcore’s Cloud Data Infrastructure Platform and core services will enable SOAD’s Global Data Infrastructure with dedicated physical and virtual data computing, storage, and transport technologies to support the SOAD and its forthcoming digital ecosystem. These worldwide applications and services include:
- Internet Network Access Points (NAPs) globally (for broadband Internet access)
- SOAD Citizenship ID App
- SOAD Digital Passports
- Mobile Digital Wallet(s)
- Access to Centralized and Decentralized Cryptocurrency Exchange services
- Access to payments-processing platforms and transaction settlement services
- Support for Merchant Exchanges for e-commerce and m-commerce
- Future DApp and App Development
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“Luxcore is one of the first cloud computing service providers whose core cloud data infrastructure platform is vertically integrated, from our photonic integrated circuit processors, redefined as layer one, through the higher integrated network layers to the application stack, which provides enhanced speed, scalability, and security for future Web3 digital apps and services,” said Gerald Ramdeen, Founder, Chairman and Chief Executive Officer of Luxcore, Inc.
Capital Raise to Scale Cloud Data Infrastructure Platform
In a return to the private capital markets, Luxcore has announced a capital raise to scale its cloud data infrastructure platform from supporting 2 million Monthly Average User (“MAU”) subscriptions and 2,000 concurrent transactions per second today to 50 million global MAU’s, using its digital ID tokenization and digital wallet services at higher performance and transaction speeds. As a private secondary market transaction, interested accredited, institutional investors can find more information on the Company’s website and its electronic data room, facilitated by Nasdaq Private Market.
Luxcore, Inc. has long been a pioneer of optical semiconductor and optical switching technologies with their trademarked LambaRouter and LambdaXchange Decentralized Network Architecture, uniquely positioning them to introduce an emerging cloud data infrastructure model.
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