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TICKERS: MTRX

Tech Firm Explains Key Feature of its Contact Tracing Solution
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Loop Insights' technology lacks the adoption challenges that app-based solutions face.

Loop Insights Inc. (MTRX:TSX.V) explained in a news release how its contact tracing platform differs from contact tracing apps, and thus, could complement the Canadian government's COVID Alert free exposure notification app.

The key difference between Loop's platform and app-based solutions is that the adoption rate of the former's technology is expected to be significantly greater. This is because Loop's solution is not an app. Users may check into the tracing platform on a mobile phone or via a near field communication-enabled ID card or bracelet. Thus, individuals working in the field without or away from their cellphone can still check in.

"Resistance to adoption [of contact tracing apps] is similar to [that of] many downloadable apps [because of] privacy concerns, data usage, smartphone storage limits, continuous location tracking, having to download updates, unwanted notifications and smartphone battery usage due to continuous Bluetooth activation," the release explained.

A greater adoption rate is key because the contact tracing process requires high levels of adoption. The more users, the better the results.

Currently, Loop is concentrating on the use of its platform during the reopenings of schools, businesses and public facilities. As schools restart, for instance, the technology can help protect the health and safety of the students, teachers, staff members and visitors throughout the day. As for workplaces, Loop's platform is an alternative contact tracing solution that provides better and greater coverage.

"Contact tracing and management is about widespread adoption, connectivity/coverage, data management and necessary and relevant alert notifications," CEO Rob Anson said. "The Governments have done an exemplary job in the launch of their COVID-19 Alert app. Loop is elated to have met with Government representatives in this regard and look forward to continued discussions regarding a technology relationship with the Governments to among other things, assist in the effort to stop the spread of Covid-19. We concur that for contact tracing to be successful, there will need to be numerous solutions. As such, we have developed our proprietary solution in a manner that is expected to enable our Loop platform to easily connect to, complement and enhance any current and future solutions, whether app-based or otherwise. Loop has been catching the eye of those seeking solutions with our AI and automated data applications."

Loop also continues to develop and market other applications of its platform, such as in retail, near field communications, and data collection and use.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Loop Insights. Please click here for more information. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: Loop Insights.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Loop Insights, a company mentioned in this article.




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