SinglePoint (OTCQB: $SING) Subsidiary ShieldSaver Inks Deal with CarFax; Continuing Expansion of Data Collection for Automotive #Blockchain Initiative
SEATTLE - May 1, 2018 (Investorideas.com Newswire) SinglePoint Inc. (OTC:SING) subsidiary ShieldSaver has signed an agreement with CarFax to provide detailed information directly to CarFax while being able to pull data from the CarFax system to further efficiencies within the ShieldSaver mobile application. ShieldSaver is building relationships with industry leaders and rapidly expanding its presence across the nation through relationships with international airport parking lot management companies, such as WallyPark and LAZ Parking.
ShieldSaver utilizes proprietary License Plate Recognition (LPR) technology to collect large quantities of important automotive and consumer data. There are many stakeholders that need access to this data; for instance, insurance companies have an interest in knowing that a windshield was actually in need of repair and that the repair was soundly completed. At the same time, much of the data collected is private and should only be shared with parties that have a legitimate need to access the data. As ShieldSaver expands its infrastructure, SinglePoint will provide the expertise to begin storing data in a blockchain-based, distributed ledger with appropriate access controls to ensure that parties who need access can retrieve it in the most secure and efficient manner.
"We are excited for this new relationship with CarFax, and we believe there is a lot of opportunity to expand the relationship with CarFax. They are a fantastic company - the absolute leader in their space - and we look forward to a long, synergistic relationship," states SinglePoint President Wil Ralston.
SinglePoint recently completed the acquisition of ShieldSaver, and with the capital infusion the company has already grown to new levels and continues to add value to SinglePoint through IP and revenue. The two companies are working together and have started development of the automotive data collection application that will ultimately tie into SinglePoint blockchain technology developments.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed, the company is providing products and services to the cannabis industry.
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