HealthSpace Announces Blockchain Development and Commercialization Strategy

VANCOUVER, Nov. 22, 2017 /PRNewswire/ - HealthSpace Data Systems Ltd., the industry leader in regulatory inspection software for environmental health departments across North America, has begun to prototype their iOS and Android inspection applications to implement blockchain technology. Blockchain serves as the next technological revolution for storing and sharing distributed data that has multiple sources of input. This provides capability for transferring any digital data between multiple participants in a secure and auditable fashion.

HealthSpace has a long history of providing surveillance, auditing and regulatory compliance for health and consumer protection that requires secure access from multiple sources. As HealthSpace continues to extend its work into the commercial enterprise markets for restaurants, hospitality, hotels and cannabis, it becomes paramount that there be a common system of record connecting the regulatory data and events transacted at private businesses. By utilizing blockchain, HealthSpace can build such a system.

HealthSpace will provide an innovative inspection and auditing system built for regulatory and quality assurance oversight that implements a distributed blockchain ledger using smart contracts.  These smart contracts provide customization of blockchain transactions and will facilitate a continuous chain of events tied to a singular location or product. In the case of cannabis, HealthSpace can facilitate the mechanisms needed to create a complete seed to sale tracking management system. This will provide security and transparency for product traceability and financial transactions. This will also allow the industry to implement digital currency.

As governments move to legalize cannabis use across North America they will enact regulatory frameworks that will target and regulate both production and sales. HealthSpace's activity in providing solutions for the private sector will ideally position the company to provide the electronic regulatory surveillance and enforcement solutions that will be needed in the public space. HealthSpace believes it can become the defacto blockchain network for any data process within a business that requires oversight of multiple departments. Deploying a blockchain enabled inspection platform that generates tokenized data points which include auditing requirements, results, permissions, location, performance and encodes information to its own ledger is an opportunity not currently being delivered in the blockchain and tokenization marketplace.

HealthSpace Data Systems Ltd.

HealthSpace is an industry leading technology company currently providing inspection, information, communication and data management systems for federal, state, county and municipal governments. Over the last decade, HealthSpace has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. HealthSpace currently offers the only integrated inspection, administration and analytics product suite across all platforms in North America. Further, HealthSpace now delivers its government grade technologies to private businesses enabling them to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. HealthSpace continues to deliver focused service and innovative solutions to government organizations, while expanding into commercial enterprise verticals to enable new customers with proactive environmental health best practices and policies.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE HealthSpace Data Systems Ltd.