Blockchain Holdings Agrees Acquisition Of COVID-19 Quarantine Management Product TRACEsafe
Blockchain Holdings Ltd. ("Blockchain") (CSE:BCX) is pleased to announce that, further to its previous news release, it has executed a definitive agreement (the "Purchase Agreement") providing for the acquisition, through its wholly-owned subsidiary, Tracesafe Technologies Inc. ("Tracesafe Technologies Inc."), of the self-quarantine monitoring technology suite known collectively as "TRACEsafe" from WiSilica, Inc. ("WiSilica"). TRACEsafe is a global health product designed for deployment by governments and corporations as they fight the global COVID-19 pandemic.
TRACEsafe is an innovative suite of patent-protected health and safety products, including a bracelet with an embedded chip and related software to track the wearer's location. It was developed and deployed for maternity wards and senior citizen's housing and has now been transformed to help governments and health authorities manage and track those in COVID-19-related quarantine. It is expected that ongoing COVID-19 quarantines may be required over the next 12-24 months, pending development and widespread distribution of a vaccine. In addition, Blockchain believes TRACEsafe can function as a critical tool to help manage any future pandemics, including any resurgence of COVID-19, when added to a government's national health arsenal.
Already, initial deliveries of TRACEsafe disposable bracelets have been deployed and are in use by the Hong Kong government to manage and enforce their quarantine program for foreign visitors. TRACEsafe is expected to roll out in multiple countries over the coming weeks and months.