GTX Corp to Collaborate with TulsaLabs to Develop Blockchain Authentication and Security for its NFC Supply Chain Tracking Solutions

Los Angeles, UNITED STATES


LOS ANGELES, CALIFORNIA, May 05, 2021 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“GTX” or the “Company”), a pioneer in the field of wearable GPS human and asset tracking systems and a supplier of Health and Safety medical supplies and devices, announces collaboration with TulsaLabs, a division of AppSwarm, Corp. (OTC: SWRM), to develop blockchain solutions around GTX Corp's Near Field Communication (NFC) technology and GPS human and asset tracking platform.

GTX Corp previously utilized a third-party blockchain provider, which unfortunately is no longer in business, so will now begin working with TulsaLabs to develop and vertically integrate blockchain technology into its track and trace solutions which will become more robust while increasing transparency, security, compliance, provenance, and automated administrative operations using smart contracts.

“Where supply chain management has become hyper important in our post pandemic recovery, making sure perishable foods, beverages and pharmaceuticals such as vaccines which require, authentication, chain of custody, temperature control and transparent visibility throughout the supply chain will be managed seamlessly and securely by combining NFC and blockchain technology,” stated Patrick Bertagna GTX Corp CEO.

GTX Corp's NFC Veritap solution provides 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.

By accessing data from an API off current blockchain protocols, or private Hyperledger networks, GTX will be able to provide a secure and safe contactless connection of data about product origin, authentication, and certifications, throughout the entire transportation process. Thus, empowering brands, retailers, distributors, and freight forwarders to verify shipment quality and authentication.

GTX also distributes an extensive line of wearable technology and Personal Protective Equipment “PPE”, owns and licenses a portfolio of patents in the GPS and wearable technology space, and is a GSA-approved military and government supplier. The Company’s products are available at its online store, Amazon, and global distribution partners. To find out more about how you can buy or become an authorized reseller of GTX products, contact us info@gtxcorp.com

About TulsaLabs
TulsaLabs is a startup accelerator that assists in providing access to seed funding, training and mentorship to blockchain startups to help them pass successfully through the early stages of business growth. https://tulsalabs.io/

About GTX Corp GTX Corp (OTC: GTXO) is a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based solutions, supported through a proprietary IoT enterprise monitoring platform and intellectual property portfolio. GTX offers a global end-to-end solution of hardware, software and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications. GTX utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. GTX is known for its game-changing and award-winning patented GPS SmartSole® -- think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. GTX’s business model is built around technology innovation and holds over 85 patents, with many issued patents in GPS tracking. The company has international distributors servicing customers in over 35 countries and is a U.S. Military Government contractor. Other customers include public health authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers.

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GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. Please contact: Nelson Skip Riddle
Email: NSRiddle@GTXCorp.com Tel: +44 7785 364100

Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company.

Forward Looking Statements

This news release contains forward-looking statements. The terms and phrases “expect,” “would,” “will,” “believes,” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by GTX considering its experience and its perception of current conditions and expected future developments, as well as other factors that GTX believes are appropriate in the circumstances. Many factors could cause GTX’s actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are set forth in GTX’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained on the SEC Website). These factors should be considered carefully, and readers should not place undue reliance on GTX’s forward-looking statements. GTX has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required.