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ShipChain and GTX Corp Launch Global NFC Blockchain Shipment Tracking Solution

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

LOS ANGELES CALIFORNIA, July 17, 2019 (GLOBE NEWSWIRE) -- Blockchain-based logistics ShipChain and GTX Corp (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.

About GTX Corp

GTX Corp (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 Corp 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. Headquartered in Los Angeles, California, 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 Corp’s business model is built around technology innovation and holds over 85 patents, with many issued patents in the area of 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, NGOs, private companies, public and private senior care homes, and consumers.

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About ShipChain, Inc

ShipChain Inc. is a blockchain based solution provider for the transport and logistics industry. With a fully integrated platform across the supply chain, products are tracked from farm to table in an open and decentralized ecosystem that allows for external players to integrate their products. By leveraging blockchain technology, ShipChain creates transparency, increases data security, and boosts accountability across the entire supply chain.

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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 “expects,” “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 in light of 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 by law.