In this report, events visited and participated in by our team members since the beginning of our work, as well as company research and application development achievements will be described thoroughly.

Andrea Cadamuro and Damira Kenessarina were two entrepreneurs with years of experience in various sectors that soon joined forces to found Prometeo Chain System in 2022 and become its co-founders and chief executive and chief commercial officers respectively. Since November of 2022, Prometeo has been taking an online Newchip USA accelerator program, that provides expert mentors and remote learning to enhance further and polish the skills and experience of our team members.

Following that Damira Kenessarina, Andrea Cadamuro, and Dmitriy Zernov took part in the marathon “Mining Day” on the 26th of December at the site of the IT hub “Terricon Valley” in Karaganda. It brought together representatives of more than 40 IT companies. The aim of the marathon was to present projects that introduce digital technologies into industrial enterprises. Also a great opportunity for networking and communication.

The month of February was most fruitful for two instances. Prometeo Chain System was able to receive accreditation for scientific and technical activity from the Ministry of Science and Higher Education of the Republic of Kazakhstan. We became the 100th company to receive this accreditation. And the end of the month marked our newly signed partnership agreement with USA’s SmartChainTechnologies Inc, our new distributor that will sell our technology on US territory.

On March 4 of 2023, our CCO, Kenessarina Damira participated in “Bolashaq women forum III” with a theme of New Role Models for Women, which discussed equal opportunities for women and men in the labor market, remuneration, global trends, and the gender ratio. In the discussion format, the issue of using women’s potential in Kazakhstan was raised. Soon on the 17th of March, we were also invited by Kaztrade Acceleration to participate in the business forum "New Horizon" organized by the Dubai Chamber of Commerce, the main goal of which was fostering business partnerships and communication between businesses and industries of Kazakhstan and UAE. During this forum, we discussed several potential partnerships with representatives of sea shipping and transport and logistics companies.

The following events were most beneficial in obtaining more knowledge, experience, and opportunities for networking, which further push Prometeo to shape better into the image we have set out to.

Alongside growing communication, we also focused on our research during the first quarter.

Prometeo has opened a joint R&D laboratory with the Eurasian National University (ENU) in Astana for research and development in the field of distributed ledger technology, and in particular, blockchain technology, cryptography, and the Internet of Things (IoT). Recently we were also researching the possibility of introducing artificial intelligence (AI) technology into the company’s current development plans. Particularly, Deep reinforcement learning is being studied to improve the characteristics of the consensus mechanism used in the company’s blockchain solution and for its use in analyzing big data, potentially obtained when working with companies and clients connected to the Prometeo network. We also made several publications mentioning the company’s work on researching the feasibility of implementing IoT technologies and developing a blockchain and web platform for supply chain traceability.

Due to the news of Prometeo receiving accreditation for scientific activity and research, it gave the company the right to participate in competitions for scientific projects and programs financed from the state budget of the Republic of Kazakhstan.

At present, the Company is actively developing cooperation with other research and educational organizations in the field of new technologies. For example, together with scientists from the Faculty of Physics and Technology of the L.N. Gumilyov ENU, a publication was prepared on the scientific project “Development of methods and algorithms for the secure use of QR codes for biometrics and its applications, including blockchain technology” for participation in the grant funding competition of the Ministry of National Economy of the Republic of Kazakhstan. The project aimed to analyze the current state of integration problems of biometrics and distributed ledger technology and the analysis of modern cryptographic algorithms and protocols used to design integrated solutions of biometrics in the blockchain. And, as a result, to carry out the development of a hybrid biometric system.

As part of the research work on the use of digital ledger technology in LPWAN networks, a research paper “Use cases for combining distributed ledger technologies and LPWAN” was prepared. The paper also includes a series of experiments conducted by the company to test the effectiveness of solutions based on combining IoT, LPWAN, and blockchain technologies. It also continues to explore the feasibility of the application of different digital signature schemes in various scenarios of using the company’s blockchain solutions.

Moreover, as part of the company’s envisaged educational activities, curricula have been drafted for the “Blockchain and Supply Chain” and the “Blockchain and Supply Chain” MBA courses.

And as part of the company’s development activities, draft technical documents describing the Ikarus blockchain and its API under development were prepared.

This quarter, the Prometeo team continued to develop the project, successfully completing the enhancement of PBFT consensus for the Ikarus blockchain. The team also released several security and transaction processing updates. These updates have helped to improve the quality of the blockchain, eliminating various bugs and issues that could lead to network failures.

In addition, the Prometeo team installed additional nodes on IBM Cloud and Google Cloud servers. The 20% increase in the number of Ikarus blockchain nodes in the current quarter has enabled the network to scale up and increase its resilience. The Prometeo team also plans to increase the number of validators, thereby further increasing network capacity and security.

In the first quarter of 2023, the Company integrated IPFS technology into the Ikarus blockchain, providing the ability to store masses of data, including documents, music, videos, etc. in a distributed registry.

Moreover, this quarter Prometeo team also developed the Ikarus@ Smart Logistic web platform for logistics companies, enabling them to receive and process data from a range of telematics devices (IoT, GPS, BLE) installed on vehicles (containers). The platform has been connected to the Ikarus blockchain in order to provide secure distributed storage for logistics companies while ensuring the integrity and availability of this data.

In the future, the team plans to add documentation management to the Ikarus@ Smart Logistic platform, which will enable logistics companies to speed up document processing and increase the efficiency of logistics operations.

The creation of the platform is an important step in the development of the logistics operations market with Industry 4.0 technologies, enabling its users to process and use data quickly and efficiently for their own needs.

Overall, the Company continues to work on improving the Ikarus blockchain and the Ikarus@ Smart Logistic platform, extending their functionality. Integrating IPFS technology, increasing the number of validators, adding documentation management, and improving the system’s performance with smart contracts are all steps aimed at improving the functionality, security, and efficiency of the Company’s services.

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