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

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.

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