New partnership will track temperature-sensitive shipments using energy-efficient NFC smart tags

LOS ANGELES CALIFORNIA July 17, 2019 - Blockchain-based logistics ShipChain and GTX Corp (OTCQB: GTXO), a global tech leader offering a suite of GPS and NFC tracking location-based services, today announced a new partnership for a new global NFC blockchain shipment tracking solution.

Under the agreement, ShipChain will use GTX's temperature enabled NFC smart tags to track temperature-sensitive shipments. The tag requires no scanners, or wires, and records temperatures based on customer-defined intervals and durations. In addition, GTX offers other NFC products that ShipChain will utilize to optimize its Track and Trace Platform.

"ShipChain's new partnership with GTX is another step toward reaching our goal: a transparent, unified, end-to-end logistics platform," said John Monarch, ShipChain CEO, "Until now, availability and cost of sensors was always a stumbling block. But GTX's smart tags - integrated into ShipChain's track and trace platform - provide low cost, powerful tool to give our customers even more information about their shipments. Now, we can provide new visibility into food quality, temperature history, location, and handler information. The possibilities are endless, and we cannot wait to watch this partnership unfold and evolve."

Patrick Bertagna, GTX Corp CEO, stated, "We are all about relationships that help enhance value propositions and ShipChain checks all the boxes. While developing our cutting edge NFC products and talking to customers, we realized we needed to incorporate blockchain security in order to be an influencer in the shipment tracking and monitoring business. By collaborating and integrating our technologies with ShipChain, we will enhance our speed to market while providing a much needed comprehensive solution for the industry."

The NFC tags provide real-time temperature sensing and data logging across the supply chain necessary with transportation of perishables; food, drinks, pharmaceuticals and other temperature-sensitive products that can be negatively affected by conditions in transit. These built-in security measures can prevent the distribution of contaminated supplies in the marketplace and unauthorized modification of data logs, allowing brands, retailers, distributors, and freight forwarders to verify shipment quality.

The encrypted data collected from the tags will securely upload to the ShipChain blockchain backend providing completely secure and seamless authentication and chain of custody. This new "Tap & Track" service will enable temperature-sensitive shipments to be efficiently monitored while in transit, with the potential to manage a range of new government regulatory requirements for perishable shipments.
Integration between ShipChain and GTX has already begun and a joint customer will be announced once all details have been finalized. Additionally, ShipChain will begin offering GTX enabled services to all customers as part of the expanding partnership.

"We are thrilled to partner with ShipChain and see tremendous value in coupling their blockchain platform with our NFC technology. We are seeing more and more demand for efficient, secure, and cost-effective supply chain management solutions and this partnership will deliver all of that plus the tools for data analysis to help reduce shipping costs, comply with regulatory requirements and provide brands the peace of mind that they are not delivering tainted products prior to retail consumption, stated Theresa Gordon, GTX Corp NFC business leader.

Company: CHARLIE PESTI

Company URL: https://shipchain.io/