VIA Marketplace has the opportunity to revolutionize food safety and cannabis health

VANCOUVER, March 21, 2018 /CNW/ - HealthSpace Data Systems Ltd. (the "Company" or "HealthSpace") (CSE:HS) (Frankfurt:38H) (OTC:HDSLF) is pleased to announce the Community Draft release of its whitepaper for a decentralized Verification, Inspection and Audit Marketplace, "The VIA Marketplace". The whitepaper provides a guiding basis for defining business strategy and use cases as well as outlining the technical thesis on how HealthSpace and partners will achieve this vision. HealthSpace created the whitepaper in conjunction with its blockchain partner SIMBA Chain Inc. along with the help of the Vanbex Group. The whitepaper can be accessed by visiting www.healthspace.com or downloading directly from https://s3.amazonaws.com/healthspace/HealthSpace_VIA-Marketplace.pdf.

The VIA Marketplace proposes a robust mechanism for the simple transmission, sharing and access of data between government and private industry for the furtherance of health and safety. This is accomplished by allowing private industry to have direct access into the regulatory inspections performed against them and subsequently sharing their own audits for self reporting, similar to the way an IRS tax filing works.

While governments and private industry alike are determining how they can apply blockchain solutions in the future, the VIA Marketplace brings a newfound approach to the ability of regulators, software providers and private organizations to share data with easy-to-use toolkits and interfaces, all on a singular protocol within a distributed network. This supplants data curation systems of old, such as Carfax, by supplying information straight from the source for direct consumption by a broader audience. By doing so, inefficiencies are removed, transparency and governance is improved, and speed of commerce is increased by facilitating the ease of access to both regulatory and private sector data. The aim of this is to produce healthier and safer establishments which increases consumer confidence and builds better public trust.

HealthSpace CTO, Silas Garrison stated, "I am pleased and honored at the efforts of our team in developing this paper. Our partners at SIMBA Chain and Vanbex worked tirelessly helping us outline a vision that is not only unique, but truly disruptive. We believe the solutions proposed in the whitepaper constitute a revolutionary change in the approach of how governments and private industry exchange data. With the forthcoming release of our alpha phase prototype, we are extremely excited about what's next for HealthSpace."

HealthSpace will begin testing the alpha phase portion of the VIA Marketplace shortly with its partners at SIMBA Chain. The first phase of testing will include integration with the Windows and iOS versions of the HSTouch application. Once successfully completed, testing phases will begin with industry partners who have agreed to participate in early trials of the marketplace. These trials are expected to begin in Q2 2018.

About HealthSpace

HealthSpace is an industry leading technology company currently providing inspection, information, communication and data management systems for federal, state, county and municipal governments. Over the last decade, HealthSpace has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. HealthSpace currently offers the only integrated inspection, administration and analytics product suite across all platforms in North America. Further, HealthSpace now delivers inspection and auditing systems to private businesses enabling them to gain visibility and predictability into their operations to improve performance and safety. As HealthSpace continues to deliver focused service and innovative solutions to government and business organizations, it is developing advanced blockchain technology to revolutionize service delivery to its core market while expanding into other commercial enterprise verticals.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE HealthSpace Data

For further information: Ali Hakimzadeh, Chairman, HealthSpace Data Systems Ltd., 604-306-5720, [email protected]