2nd RNS..3 Jul 2020 08:13
Completion of New Product - Onsite ID
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology announces that it has finalised the development of a new product 'Onsite ID', a generic multi-document digital wallet. The Onsite ID app was previously in development when the Company slowed its progress to allocate resources to the creation of the Cov-ID app, which shares a similar technology platform.
Onsite ID provides the ability to view immutable records that are written to blockchain, providing audit trails of transactions and is GDPR compliant.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: "I am pleased to announce that the development of our new Onsite ID product has been completed.
"Catenae initially undertook to develop Onsite ID for use in the construction sector, given that industry's need for the proof of Identity and Qualifications of the workforce; as well as their need for proof of Health & Safety Certification levels. Onsite ID provides a means of simultaneous validation of a number of data sources and documents to counter the fraud potential that is inherent in paper-based processes.
"The need for contractors and employers to prove that their workforce is fully compliant will become more relevant as the UK leaves the single market at the end of the year. Given the imminent need for permissions to live and work in the UK, this provides further opportunities for the deployment of our technology solutions.
"Onsite ID can also be of use across multiple sectors globally, wherever the validation of Identity Qualifications and Access status are required.
"We look forward to informing the market of further developments regards Onsite ID."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.
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