On May 1, the group announced it had created an operational prototype of the GDPR-compliant identity documentation exchange system.
Catenae is working with a consortium of companies led by the Z/Yen Group to develop a product that will be marketed to businesses and “other organisations”.
It has repurposed its existing blockchain technology to help create the prototype, which will sit on top of ChainZy, a platform that can handle 23bn internet transactions in 24 hours.
While the company said there was no guarantee at this stage that the app will generate commercial revenues, interim chief executive Guy Meyer was upbeat as he lauded the efforts of Catenae’s technical team.
“There is interest in our solution and we look forward to updating the market with progress in the near future,” he said in a statement.