There’s a new Esports platform entering the market, thanks to Canadian tech firm Ubique Networks. Interestingly enough, the Esports platform will be powered by blockchain technology, and is the result of a partnership between Ubique Networks and Sri-Lankan telecommunications company Sri Lanka Telecom (SLT).
The agreement was actually made in November of 2018, at the Canadian High Commission in Sri Lanka. Ubique Network has created Q Network, a decentralized network that powers Swarmio (a Ubique product) and will now power the Esports platform of SLT, which has been gaining ground with Sri Lankan millennials.
For those that are unaware, Ubique launched Q Network in 2015, and actually received millions from the Canadian government to help expand. The network also received venture capital (VC) funding, as well, and the Q Network has taken years to fully develop. The first dApp on the Q Network is Swarmio, which will power the SLT Esports platform.
Swarmio has already gained a user base of 25,000 gamers, that have a combined audience of 100 million people, which is extremely substantial with regards to the Esports sector. Ubique also recently opened an office in Halifax, and also has offices in Brazil, Singapore, and the Philippines.
About The Partnership
The CEO of Ubique, Vijay Karthigesu, pointed out that gamers in Sri Lanka can raise their profiles to a “global level” thanks to the partnership. While Sri Lanka is the first country to express interest in a partnership, Ubique is also actively looking at aggressive expansion in Asia, hoping to enter the markets in India, Malaysia, Singapore, and other countries in the region, as well.
The startup has received money from governments besides the Canadian government, as well. In June of last year, the company also received a $500,000 loan from the Australian government. At the time of the announcement, the company employed 14 people but claimed it was hoping to hire an additional ten employees to help “execute its marketing strategy”.
Neil Mathew has been writing about technology and business for years now, and is interested in how emerging technologies will affect the gambling/casino sector.