Is this really still defined as a blockchain?

[lum_dog_millionaire]

Does anyone understand Crypto-Currency Exchange platform (Crypto Value Management Systems “CVMS Exchanges”)? Platforms such as MoneyTrac and ICCE have both been referring to it a lot. It sounds like a highly centralized version of blockchain and an attempt to use the word “blockchain”. They even say it is a better version of blockchain because it removes DLT which doesn’t make any sense to me…

http://www.financialbuzz.com/breaking-news-moneytrac-technology-inc-establishes-joint-venture-partnership-with-crypto-value-management-system-llc-981506

I am not a part of either company. Just trying to understand this better and how it can be so centralized yet still be called a blockchain. Thanks