Covid-19 Pandemic Creating Need for Quarantine Tracking Technology and Wearable Safety Tech
The need for quarantine tracking and wearable safety technology has taken off in the age of the coronavirus, and TraceSafe Inc. (TSF:CSE) has cutting-edge technological solutions for both designed to help business and government get back to work.
The firm's quarantine management technology, IMSafe, is being used by the government of Hong Kong to enforce its mandatory 14-day quarantine for anyone entering the area. At the airport, all travelers receive a Bluetooth wristband that connects to GPS either via a cell phone or a gateway, enabling the government to monitor whether the person is maintaining quarantine. The battery has a limited life, so longer-term privacy concerns are allayed. TraceSafe reported on August 26 that in the last two quarters it has shipped more than 180,000 wristbands to a single government customer, and the average size of orders from governments has increased 4X from Q1/20.
As important as quarantine management is at the moment, it should be relatively temporary, and it is dwarfed by the demand for non-quarantine contact tracing and physical distancing, which could be needed for a long time, especially in industries hard hit by the pandemic, such as cruise ships and sports stadiums.
That's where TraceSafe's wearable safety tech come in.
"We're really defining the wearable safety tech category," TraceSafe CEO Wayne Lloyd told Streetwise Reports. "The core thesis is that the pandemic has created the catalyst for companies to explore wearable technology; it's giving a reason for wearable technology to be deployed in a more widespread way.
"TraceSafe is not a Covid play per se, but a wearables play, and because of the pandemic, wearables are going to play a vital role in workplace safety going forward. The smartest companies in the world are all looking to prepare themselves for what comes next with regard to the pandemic and making sure they have systems in place to safeguard the workers at their offices or facilities," Lloyd said. "Employers feel a responsibility to deliver that kind of health and safety focus to their employees and in some cases their governments are mandating them to do it."
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Statements in this news release may contain forward-looking statements that are based on TraceSafe’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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