TORTOLA, BRITISH VIRGIN ISLANDS / ACCESSWIRE / May 19, 2020 / Blockchain Holdings Ltd. ('Blockchain') (CSE:BCX) is pleased to announce that its wholly-owned subsidiary TRACEsafe Technologies Inc. ('Tracesafe') has secured additional orders of its contact tracing and self-quarantine monitoring technology with the Hong Kong Office of Government Chief Information Officer (OGCIO).
Tracesafe's health and safety wearables are designed to be deployed in virtually any setting in which crowd monitoring is necessary by providing real-time contact tracing for corporations, businesses, educational institutions, sports leagues and concert venues around the world as countries loosen lock-down restrictions and restart their economies and societies. TRACEsafe's technology can contribute to a safer return to work for businesses and employees. The technology can also be deployed by governments around the world to support their self-quarantine programs.
TRACEsafe disposable bracelets have been in use in Hong Kong since the end of March to assist the OGCIO manage and enforce its quarantine program for foreign visitors and returning citizens. The Hong Kong OGCIO has been issuing TRACEsafe bracelets at a rate of hundreds to thousands per day since they began deploying the technology.
TRACEsafe's innovative suite of wearable health and safety products include a bracelet with integrated bluetooth beacon and related software to track the wearer's location. It was developed and deployed for maternity wards and senior citizen's housing but has been transformed to help manage the COVID-19 pandemic. Despite the development of an effective treatment or vaccine, it is expected that ongoing COVID-19 contact tracing and quarantine could be required for at least the next 12-24 months, and possibly longer if the virus proves to be seasonal.
'We are pleased at the ongoing adoption of TRACEsafe's technology in Hong Kong and their most recent volume shipments are a testament to its success. We are very happy to continue working hand in hand with Hong Kong authorities to thwart the spread of Covid-19,' explained Dennis Kwan, CEO of TRACEsafe. 'TRACEsafe is a critical tool to not only manage quarantine, but to provide a safer environment through real-time contact tracing in so many aspects of society, from work spaces to live audience venues, such as sports and concerts, to schools and universities. We are proud that TRACEsafe can help the world safely re-open.'
TRACEsafe is a proprietary self-quarantine management monitoring system which registers a user through a wrist tag. The tag can log time stamps and locations of the user through a single application used by both the user and administrators to a central monitoring system. TRACEsafe allows a user to declare once they have entered quarantine, and subsequently prompts periodic check-in acknowledgements. The application will alert administrators if the user fails to acknowledge a check-in, the tag is unreachable through the user's phone or if any tampering with the tag is suspected. The same wristband and monitoring system are being applied to contact tracing and social distancing measures, as required to safeguard public health as many countries begin to re-open their economies.
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The Canadian Securities Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
Statements in this news release may contain forward-looking statements that are based on Blockchain's expectations, estimates and projections regarding its business, assets, operations and the economic environment in which it operates, including with respect to expectations regarding the TRACEsafe assets and deployment and uses thereof, future developments in respect of COVID-19, including treatments and vaccines, and government policy in response to COVID-19. Although Blockchain believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including as a result of ongoing rates of COVID-19, development of effective treatments and vaccines, government policy, individual and societal responses to COVID-19, and the acceptance of self-quarantine and contact tracing technology by governments, business and individuals. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and Blockchain undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
SOURCE: Blockchain Holdings Ltd.
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