FOBI Integrates With World's Leading Public Ledger Hedera Hashgraph To Deliver Highest Level of Security and Verification for CheckVax™ Digital Proof of Vaccination Service

Rhea-AI Summary

Fobi AI has become the first company to issue mobile wallet-based digital credentials on the Hedera distributed ledger, including its new CheckVax™ Digital Proof of Vaccination service. This integration allows clients to issue and manage credentials quickly and securely, using Hedera's technology for enhanced authentication. The CheckVax™ platform enables users to upload their vaccination proof into mobile wallets. Fobi aims to facilitate compliance with vaccination mandates while ensuring user data privacy.

Positive

• Secure, public-ledger backed credential solution enhances user trust.
• CheckVax™ offers interoperability with existing government vaccination systems.
• Integration with Hedera supports scalability for future credential needs.

Negative

• None.

Fobi becomes first company to issue mobile wallet-based digital credentials signed on the Hedera distributed ledger, including those for Fobi’s new CheckVax™ Digital Proof of Vaccination service

VANCOUVER, British Columbia, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (formerly Loop Insights Inc.) (TSXV: FOBI) (OTCQB: FOBIF) (the "Company" or "Fobi"), a global leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce the integration of Fobi’s Wallet pass solution (including the CheckVax™ Digital Vaccination Verification service) with the Hedera Consensus Service. Hedera Hashgraph’s public ledger technology enables Fobi to provide the most secure mobile wallet and proof of vaccination credentials in the market. 

Fobi’s mobile wallet-based credentials enable our clients to issue and manage credentials for their users quickly and effortlessly. By leveraging Hedera Hashgraph, one of the global leaders and most advanced next-generation ledgers, Fobi is adding an extra layer of security to our credentials and enabling verification of these credentials by querying the ledger directly. 

HEDERA HASHGRAPH INTEGRATION TO POWER SECURE CREDENTIALS FOR FOBI’S CHECKVAX™ DIGITAL PROOF OF VACCINATION SERVICE

The integration is particularly timely given last week's launch of Fobi's CheckVax™ product. CheckVax™ is a universal, mobile wallet-based proof of vaccination & proof of test status platform. It provides the highest level of security with a low-friction and highly scalable mechanism for users to upload their proof of vaccination and/or proof of test status into the native iOS and Android wallets. 

Fobi’s Hedera integration means these credentials can now be validated against the public ledger for even greater security. It also enables Fobi to issue a very easy-to-use public-ledger backed digital credential which anyone can carry in their mobile wallet. It gives the user full control over when and where that credential is used, while providing an unparalleled level of credential authenticity and interoperability.

Hedera Hashgraph is the most used, sustainable, enterprise-grade public ledger. The decentralized Hedera network offers stable governance with no forking, low and predictable transaction fees, fairness, built-in compliance, real-time settlement, and sustainable energy consumption - all of which are driving massive adoption. Hedera has the most decentralized and transparent governance model, led by the Hedera Governing Council, ensuring the reliability of the network. The platform is governed by a council of the world's leading organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, LG Electronics, The London School of Economics and Political Science (LSE), Magalu, Nomura Holdings, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group. Hbar, the native cryptocurrency of the Hedera network, is used to protect the network through proof-of-stake and power decentralized applications.

Christian Hasker, CMO of Hedera stated: "In this new era of Covid-19, proving test and vaccination status, while ensuring the highest degree of data privacy, has become a pressing business need. Hedera, as a trust layer, enables applications like CheckVax™ from Fobi, to ensure that data is controlled by the users themselves. CheckVax™ provides an easy-to-use mechanism for users to upload their proof of vaccination and/or proof of test status and be issued with a secure Wallet Pass bearing this proof, using the Hedera Consensus Service."

FOBI’S CHECKVAX™ DIGITAL PROOF OF VACCINATION SERVICE TO SUPPORT CURRENT GOVERNMENT APPLICATIONS 

Fobi’s CheckVax™ is not meant to replace governmental applications or systems, but instead aims to provide interoperability with existing government processes/protocols and future product releases.  The goal is to provide a complementary product that is fast, convenient, secure, and that will see a high level of adoption due to the simplicity and usability of the service.

Rob Anson, CEO of Fobi stated: "The Hedera integration enables us to provide our clients a secure, fully public-ledger backed credential solution, with almost limitless scaling, and true public verifiability.  Fobi’s CheckVax™ solution is built to support and provide interoperability with Provincial and State government vaccine mandates worldwide, and thanks to Hedera provides the highest level of security and verification in the market today.” 

One of the big issues facing companies looking to implement a vaccine passport system to comply with provincial regulations is the uncertainty around vaccination mandates and the difficulty of complying with them.  In fact, a recent poll showed that 61% of Canadian small businesses are worried about the challenges of implementing the vaccine passport regulation, including the security of the passes and how their customer’s personal information was being handled.  Add to that the challenges for those businesses who have visitors or customers from other geographies who are not eligible for the provincial passport and you have a situation that is increasingly more difficult to navigate.  Fobi’s Hedera-powered secure, app-less mobile Wallet pass solutions, including CheckVax™ for digital proof of vaccination, can help those organizations get the right, secure solution into place that fits their needs best.  For more information on the CheckVax™ service, please visit www.fobi.ai/checkvax.

This Press Release Is available on the Fobi Website and the FOBI Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement.

About Fobi
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

For more information, please contact:

Fobi AI Inc.		Fobi Website: www.fobi.ai
Rob Anson, CEO		Facebook: @ Fobiinc
T : +1 877-754-5336 Ext. 3		Twitter: @ Fobi_inc
E: ir@fobi.ai		LinkedIn: @ Fobiinc

Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

FAQ

What is Fobi AI's CheckVax™ Digital Proof of Vaccination service?

CheckVax™ is a mobile wallet-based platform that verifies proof of vaccination and test status securely.

How does Fobi integrate with Hedera?

Fobi uses Hedera's public ledger technology to issue secure digital credentials that can be validated directly against the ledger.

What advantages does the Hedera integration offer for Fobi's services?

The integration offers high security, scalability, and user control over credential usage.

How does CheckVax™ assist businesses?

CheckVax™ helps businesses comply with vaccination mandates while ensuring data privacy and interoperability.

What is the significance of Fobi becoming the first to issue these digital credentials?

It establishes Fobi as a pioneer in mobile wallet credential verification, potentially increasing market trust and adoption.