Edmonton, Alberta--(Newsfile Corp. - March 30, 2021) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") is pleased to announce that it signed on March 30 2021 a Memorandum of Understanding (MOU) with Hong Kong-based InnoBlock Technology Limited ("InnoBlock") where both parties will work on integrating their respective technology platforms to support supply chain traceability opportunities in a variety of markets in Asia.
InnoBlock has developed a track-and-trace blockchain platform called TT Chain based on the Hyperledger fabric. This platform will interact with the Company's BIX Software-as-a-Service (SaaS) platform and provide customers with immutable records of attributes associated with products shipped through the supply chain, customized disclosure management through permissions and configurations, and support for labelling of retail products through creation of QR codes which, when accessed by the customer, reference key attributes about the products sold.
Initial work by TrustBIX and InnoBlock will support the creation of a premium beef supply chain from Canada to Asia, building on the Company's previous press release announcements from November 2020.
"We are thrilled to be working with a partner that brings both great technology expertise and connections in Asia," said Hubert Lau, TrustBIX CEO. "This collaboration will reduce time-to-market and deliver enhanced capabilities in our solution."
"InnoBlock is delighted to partner with TrustBIX to make TT Chain a global end-to-end traceability platform. We are very excited to bring blockchain technology to the supply chain industry to increase transparency and build consumer and participant trust," says Kevin Ng, CEO of InnoBlock.
The MoU has an initial twelve-month term but is renewable.
About InnoBlock Technology Limited
InnoBlock, a member company of Incu-Tech Programme under Hong Kong Science and Technology Park and I&T supplier of the Smart Government Innovation Lab under Office of the Government Chief Information Officer (OGCIO), is a company with the vision to implement blockchain technology and Artificial Intelligence (AI) to increase efficiency and transparency in various industries. The InnoBlock team has a vast amount of experience working with blockchain technology and AI, making them well-versed with its different applications and optimization methods. The three main domains we tackle are supply chain management, cybersecurity, and asset tokenization. For more information, please visit www.innoblocktech.com and follow us on LinkedIn: https://www.linkedin.com/company/innoblocktech/
About TrustBIX (TSXV: TBIX)
As an innovative leader, TrustBIX provides agri-food traceability. By addressing consumer and agri-food business demands, the Company has a goal to become the most trusted and largest source of third-party food traceability and sustainability information globally - Gate to Plate®. TrustBIX Inc.'s focus is to create a world where we trust more, waste less and reward sustainable behaviour. The Company's proprietary platform, BIX (Business infoXchange System), is designed to create trust without compromising privacy through innovative use of data and technology. Extensive R&D has allowed TrustBIX to create a new blockchain-derived technology to complement its mature and proven traceability systems. By leveraging BIX and its unique use of incentive solutions, the Company can deliver independent validation of food provenance and sustainable production practices within the supply chain. ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, United States, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes. For more information, visit www.trustbix.com, or follow us on Twitter twitter.com/@TrustBIX_Inc, Facebook at www.facebook.com/BIXSco, or LinkedIn: https://www.linkedin.com/company/bixsco-inc-/.
Forward-Looking Information
This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78978
