DENVER, May 07, 2019 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | TKXHF:OTC | FRANKFURT:3TH) (“TrackX” or the “Company”), a Software-as-a-Service (SaaS)-based enterprise asset management solution provider, is pleased to announce an extension of its GAME (Global Asset Management for Enterprises) platform supporting Amazon Managed Blockchain for scalable blockchain-enabled collaboration. On April 30, 2019, AWS announced the general availability of its Amazon Managed Blockchain (read the full announcement here: http://go.trackx.com/AMB). In addition to TrackX, other notable partners listed as supporting Amazon Managed Blockchain include AT&T Business, Nestlé, Singapore Exchange (SGX), Accenture and MOBI.
The GAME Amazon Managed Blockchain add-on module will enhance supply chain-related workflows and functionality related to returnable asset management, financial transactions, supply chain optimization, partner accountability and product provenance. TrackX’s GAME platform tracks pertinent asset activity, including change of control, financial responsibility and state of an asset as it moves through the supply chain. The blockchain module allows TrackX to write asset related transactions to a secure distributed ledger with simultaneous access by all authorized supply chain partners further enhancing customer value.
TrackX has seen an increased demand from existing and prospective large enterprise customers looking to more effectively track and manage their large fleets of returnable transport items such as beer kegs, intermediate bulk containers, chemical containers and plastic pallets. Blockchain technology has the potential to further increase the speed at which these returnable and reusable assets are tracked and reconciled. Amazon Managed Blockchain allows TrackX to quickly create private blockchain networks and enable our customers to monitor and maintain accountability of these assets throughout the entire supply chain. It provides a technical infrastructure fully capable of managing shared network components, enabling TrackX to focus on automating business processes by leveraging smart contracts to deliver additional value through the GAME platform.
“Our customers trust us to continually evolve our platform to meet the demands of the growing globalization of supply chains,” said Tim Harvie, TrackX CEO. “These complex ecosystems rely on seamless interactions between constituents and a natural progression is to utilize blockchain to create visibility, trust, accountability and increased supply chain velocity. Amazon Managed Blockchain allows us to provide our customers with a solution that can be scaled to meet their needs.”
TrackX, Inc., based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's GAME (Global Asset Management for Enterprises) platform enables the Industrial Internet of Things by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
For more information, please contact:
Gene McConnell, TrackX Holdings Inc.
Sean Peasgood, Sophic Capital
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.