Spotlite360 Begins Exploring Agriculture Industry Applications for its Blockchain and IoT Technologies

DENVER and VANCOUVER, British Columbia, Aug. 04, 2021 (GLOBE NEWSWIRE) — SPOTLITE360 Utilized sciences, INC. (“Spotlite360” or the “Agency”) (CSE: LITE) (OTC:SPLTF) is presently Inside The tactic Of financializing its suite of technologies using blockchain and Internet-of-Issues (“IoT”) performance (the “Spotlite360 Technologies”) for current chains in A Quantity of industries. The company has strategically chosenn market segments on which It is going to focus preliminaryly, collectively with the pharmaceutical enterprise (as detailed in a July 6, 2021 press launch) and the healthcare sector (as detailed in a July 12, 2021 press launch). The company May even be exploring alternatives for the Spotlite360 Technologies to be utilized in agriculture current chains, which have confronted vital challenges In current events as macro elements Similar to labour considerations And greater oil prices have affected the enterprise at huge¹.

All sides of the Spotlite360 Technologies can simply be constructed-in into methods, gear, and currents That are widespread for agriculture enterprise gamers To incompany farmers, floor transporters, distrihoweverion centres, and retail grocers. In a video currentation revealed by the Agency in July 2021, Spotlite360 President James Greenproperly currentd examples of merchandise-diploma monitoring technologies Similar to radio frequency identification (“RFID”) tags, Together with technologies licensed from TrackX Holdings Inc., That are leveraged within Spotlite360 Technologies To watch the movement of inventory with immutable data. Examples Of advantages That Can be realized by corporations Inside the agriculture enterprise from using the Spotlite360 Technologies embrace The subsequent:

• Full Visibility into Cargo Journey: With enhanced reporting of a product’s actions by way of The current chain, corporations who use options such As a Outcome of the Spotlite360 Technologies can decide potential hazards or inefficiencies with fewer knowledge gaps. As a Outcome of blockchain entries Can’t be modified, The hazard of doc tampering Inside the event of disputes is mitigated. Furtherextra, this performance permits recollects to be carried out in an expedited method To shield The prime shopper.

• Preventing Loss from Spoilage: Through IoT sensors, options such As a Outcome of the Spotlite360 Technologies can continuously detect a number of attrihoweveres of the environment By which inventory is being retailerd or transported (e.g., temperature, humidity) So as To take care of product extreme quality and freshness. With The power to pinpoint the place and when shipments Might Even be uncovered to unsuitable circumstances, corporations can extra simply tackle such factors with minimal investigation.

• Sustaincapability Assurance: The Spotlite360 Technologies can seize and consolidate numerous knowledge Referring to sustaincapability (e.g., gasoline influenceivity Of financial transport automobiles) So as to substantiate clgoals Referring to the firm’s social and environmental obligation and assist consumers greater understand their meals product decisions. In 2019, the World Wildlife Fund of Australia introduced that it was using a blockchain-based mostly platform To current sustaincapability-associated information to consumers about sure meals and merchandise (e.g., making sure a fish was not caught in A longtime marine shielded space)².

• Proof of Origin: Certain meals packages are topic to a extreme burden of proof with respect to the product’s origin (e.g., manufacturing and processing regulars for kosher and halal meals), And might typically enhance the retail worth significantly. The company plans To incompany compliance frameworks for a number of origin-delicate product packages Inside the Spotlite360 Technologies, which could allow corporations to show origin and primarytaInside the chain of custody extra effectively As in contrast with legacy strategies.

In the late 2010s, retail huge Walmart pioneered huge-scale use of blockchain technologies for monitoring shipments of produce. The preliminary pilot program allowd Walmart to hint an merchandise from a retailer to its farm of origin in simply 2.2 seconds, a dramatic discount from The regular timeline of seven days. In a September 24, 2018 assertion, Walmart indicated that suppliers of leafy greens (e.g., roprimarye lettuce, spinach) to its retailers As properly as to Sam’s Membership warehomakes use of Shall be requested to implement blockchain know-how Contained in the subsequent yr³.

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Spotlite360 President James Greenproperly commented, “Blockchain has confirmed to be a related, influenceive, and disruptive know-how Inside the agriculture space, which is a key set off why we chosen agriculture as Definitely one of our preliminary goal industries. The Spotlite360 Technologies go far past simply primarytaining monitor Of information on a distrihowevered ledger, as The exact worth comes from the coordinated use of IoT hardware To grab an unprecedented scope of knowledge That Might be utilized to make enterprise selections. Whereas the demand for agriculture merchandise will naturally stay comparatively fixed, the previous few yrs have shown that working circumstances Might be something however fixed. We subsequently think about that Spotlite360 can current vital advantages to corporations Inside the agriculture enterprise by offering finish-to-finish current chain visibility with reliable And automated entry to key information at every step of The biggest method.”

Sources

1 – https://www.nbcinformation.com/enterprise/enterprise-information/worth-meals-gasoline-creeping-greater-will-primarytain-method-while-n1259206

2 – https://www.wwf.org.au/information/information/2019/world-first-revolutionary-blockchain-platform-empowers-all-to-monitor-environmental-and-moral-influence-of-meals-and-merchandise#gs.7o8efy

3 – https://company.walmart.com/media-library/doc/leafy-greens-on-blockchain-press-launch/_proxyDocument?id=00000166-0c4c-d96e-a3ff-8f7c09b50001

On behalf of the Board of Directors of the Agency,

Spotlite360 Technologies Inc.

“James Greenproperly”

James Greenproperly, President

For extra Particulars about Spotlite360, please go to: http://spotlite360.com

Charles Lee
Investor Relations and Media Inquiries
+1 (720) 830-6120
[email protected]

THE CANADIAN SECURITIES Commerce (“CSE”) HAS NOT REVIEWED AND Does not Settle for RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION Providers Supplier.

About Spotlite360 Technologies Inc.

Spotlite360 is a logistics technologies options currentr unlocking worth, alternatives, and efficiencies for all individuals in a current chain. Constructing upon current purposes of IoT technologies, distrihowevered ledgers, and machine studying, Spotlite360 finisheavours to set new regulars of transparency, integrity, and sustaincapability Inside the pharmaceutical, healthcare, and agriculture industries. As regulators throughout the globe start to impose new tracing and accountcapability requirements for the shieldion of consumers (e.g., DSCSA and FSMA from the U.S. Food and Drug Administration), The want for reliable, value-influenceive, and versatile monitoring know-how Is predicted to develop significantly. Spotlite360’s flagship SaaS reply has been engineered to seamlessly monitor the movement of a product by integrating with methods of all primary stakeholders in a current chain Starting from the uncooked supplies to the palms of The prime shopper. With a primary objective of onboarding new consumers in 2021, Spotlite360 plans to discover revolutionary use circumstances for its proprietary stack of technologies which could rework logistics workflows in A pair of of the world’s hugest industries.

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Disclosures Referring to investor relations corporations retained by Spotlite360 Technologies Inc. Might be found beneath the Agency’s profile on http://sedar.com.