In recent times there has been considerable focus on Life Clips Inc (OTCMKTS:LCLP) from among investors owing to the work it has done in the blockchain and cryptocurrency space. Yesterday, the company made another major announcement but that did not seem to have an effect on the stock and it continued to trade in a range.
Trading Data
On Wednesday, LCLP stock fell 0.51% to $0.0098 with more than 20.63 million shares, compared to its average volume of 23.42 million shares. The stock moved within a range of $0.0092 – 0.0109 after opening trade at $0.0010.
Life Clips Belfrics BT Signs an Exclusive MoU With Kenya’s Red Cross Society to Deploy Blockchain Solutions Across the Country’s Health and Education Sectors
In this situation, it may be a good move from investors to actually take a look at the announcement that was made yesterday. Life Clips announced that BelfricsBT, its subsidiary company, has inked a Memorandum of Understanding with The Kenyan Red Cross Society.
As per the provisions of the Memorandum of Understanding , the company is going to work on the deployment of the Belrium blockchain powered BelYo platform for the purpose of creating a system for the purpose of maintaining and supplying health care data to hospitals located in Dadaab in Kenya in real time.
It goes without saying that it was a significant development for the company but it was perhaps not seen as a major move by investors and hence, the Life Clips stock remained in a range. It could be a good move by investors to add the stock to their watch lists.
Key Quote
“Belfrics will be deploying our blockchain solutions at the IFO 2 hospital in Dadaab, Garissa County, which is a 100-bed referral hospital serving between 200 and 300 outpatients a day,” said Praveen Kumar, Founder & CEO of Belfrics Group. “The IFO 2 hospital serves the 232,903 refugees who reside in Kenya and is the only major hospital providing medical care to this underserved community. BelfricsBT will provide a customized hospital management system that will automate the IFO 2 hospital. Our BelYo platform will capture, store, streamline, analyze and effectively communicate patient health data to caregivers. A collaboration with KRC gives us immense opportunity to innovate for the humanitarian sector. We will be working on health, education and the aid distribution segments initially and will keep exploring various other avenues for blockchain implementations.”
Technical Data
LCLP stock is trading below the 20-Day and 50-Day Moving averages of $0.0110 and $0.0140 respectively. The stock is trading in oversold zone with the RSI at 40.
