TORONTO, ON / ACCESSWIRE / October 1, 2020 / ITOCO INC. (OTC PINK:ITMC) has successfully completed and deployed the blockchain portion of its patent-pending Immutable Virus Test Result Verification System to the Ethereum Ropsten test network.
This important first step in commercializing the patent-pending technology, acquired through its previously announced agreement with DATANet Software, and making it available to prospective clients and partners in several key industries hardest hit by virus related issues including casinos, cruise lines, airlines, live music and sports, and tradeshows.
Key benefits that those industries will receive include:
Ability to open and expand operations sooner and more safely
Providing customers and employees with transparent view of safety processes and results
Taking an industry leadership role in demonstrating solutions to returning to pre-pandemic operations safely
More information on how those industries can use and benefit from this system is available on the ITOCO blog post https://blog.itoco.net/5-major-industries-that-will-drive-demand-for-rapid-virus-testing-and-verification-as-a-result-of-covid-19/
"The smart contract we have deployed provides for adding verified users through a combination of biometric and blockchain identifiers, adding verified virus test machines that can write immutable result data to the blockchain and immutable test result querying functionality." said Greg Marlin, CEO/CTO of DATANet and author of the smart contract that was deployed. "The next step in commercializing this patent-pending technology is to complete the administration software, development for which is currently underway. We expect to have an announcement on its completion shortly."
"The test network deployment is an exciting development on our path to commercializing our patent-pending technology and affirms our commitment to commercializing our intellectual property for the benefit of customers, partners and investors." said Michael Paul, CEO of ITOCO.
About ITOCO Inc.:
ITOCO's mission is to be a global leader in developing, distributing, and producing Bio Tech related technologies and methodologies in a compliant environmentally friendly manner. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 5-year-old publicly quoted specialty Bio Tech development, production and distribution company based in Toronto, Canada and Nevada USA. ITOCO seeks to partner with outstanding individuals and companies within this field to joint venture, research, and co-develop Bio Tech related products and technologies to the market.
About DATANet Software Development Corp.:
Blockchain represents the next Internet for disrupting business models and making new categories. DATANet's
Smart Contract Management Software Platform makes it easy for any business or entrepreneur to get started taking advantage of that. www.datanetcorp.com
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, potential, intends, plans, hopes, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
CONTACT:
ITOCO INC.
Michael Paul
ir@ITOCO.net
+1 (905) 829-5000
www.itoco.net
SOURCE: ITOCO Inc.
View source version on accesswire.com:
https://www.accesswire.com/608605/ITOCO-Completes-Blockchain-Smart-Contract-for-Immutable-Virus-Test-Result-Verification-System
