Scanetchain, a commercial AR dApp built on the NEM blockchain, has signed a Memorandum of Understanding (MoU) with Overnodes, a payment service provider for blockchain-based services.

Under the agreement, the companies will join forces to promote their platform and solutions as well as engage in initiatives aimed at expanding the token ecosystem.

“We are excited to partner up with Scanetchain, an innovative company connecting AR with Blockchain based token economics,” Jake Lim, Co-Founder and CFO at Overnodes, said. “We view the solutions Scanetchain brings to the table for the AR and Cryptocurrency industry is a critical step for mass adoption of both technologies. We look forward to working with ScanetChain to bring significant value to end users, while also advancing these newly formed token-based economies with our payment solution."

With an initial duration of three years, the MoU establishes the framework for cooperation between the two companies. Scanetchain and Overnodes will consult each other, exchange views, share information and technical feedback with an objective of contributing to the ecosystem of tokens and blockchain services. Furthermore, they will cooperate in monitoring and evaluating activities to assess the impact of these activities.

Scanetchain and Overnodes will collaborate to research and develop blockchain expertise. They will conduct joint studies and research, particularly in the frameworks of blockchain-based platforms.

“Overnodes is an innovator, with their micro-transaction payment solution for cryptocurrency their solution is quite compelling,” David Ham, CEO Scanetchain, said. “This partnership will bring immense value to both our services and in enabling a token economy for our customers and partners. We are very pleased to partner with Overnodes."