We have never covered Epazz, Inc. (OTCMKTS: EPAZ) here on Street Register before, but the company is provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, and as everyone is aware, the blockchain is being hailed as the wave of the future, giving rise to a bustling new market sector.
We’ve covered the topic rather extensively here, as the frenzy has been fueled by the incredible moves made by bitcoin itself. It seems just a short time ago that we were talking about its breach of $5000, yet it recently surpassed the $17,000 mark. EPAZ’s ‘ZenaPay’ tech involves Bitcoin, which we’ll get into further down the page, but the company is using the blockchain for much more than that.
Epazz, Inc. (OTCMKTS: EPAZ) recently filed a provisional patent for its new blockchain smart legal contract technology that reduces fraud in business transactional contracts. The technology allows for a transactional contract to become a living contract that is tracked and traced; it also verifies that a section of terms within a contract are followed and that all parties of an agreement obey the terms of the contract.
Paper contracts require each party to keep a copy of the contract, spend time reading the contract, ensure they have the original contract with all the correct signatures and memorize the terms of the contract. However, our technology, which is under development, automatically verifies signatures, distributes the contract to the blockchain, records the transaction and verifies the terms are being followed via our blockchain apps, which also trace any changes. The technology sends reminders and tracks payments and delivery of items. The technology will work with Word and Google Docs to provide real-time contract edits and updates via version control.
The company will add the technology to BoxesOS, which it is working on upgrading to new blockchain technology. All of its software programs will soon have blockchain technology automatically built in. The next version of BoxesOS has been created into the new platform using the latest Microsoft technologies. Some of the new features include blockchain payment processing, smart contracts, online document editing, web content management, cloud integration tools, a cloud database and an application builder.
Shaun Passley, PhD, CEO of Epazz, stated, “Blockchain-based technology is the future of the Internet. Epazz will add blockchain technology to all of our products in the coming months using our blockchain cloud platform, BoxesOS.” Shaun further added, “The company has been working with customers to understand the best uses of blockchain, and we are excited about filing the first of many blockchain patents, with many more to come.”
Additionally, the company is testing the Android version of ZenaPay, which will be released on December 31, 2017, and is working on the next version of ZenaPay for IOS users. ZenaPay has been developed to solve a major problem in high-risk industries: getting paid. Traditional banking systems will not allow high-risk industries to access their payment systems. ZenaPay offers a cutting-edge payment solution that provides consumers with a way to buy items online or in stores using Bitcoin.
The new Bitcoin payment software allows consumers to use the digital currency to make online or in-store purchases. Additionally, the process is anonymous because all transaction details are encrypted through Bitcoin, allowing stores to accept digital currency in addition to cash. (Source:Globe Newswire)
We feel EPAZ’s involvement in both bitcoin and non bitcoin related aspects of the blockchain gives it a unique dinstinction that many other crypto plays do not possess. We’re going to be very interested to track its activity moving forward. Stay locked to Street Register for updates, and we’ll deliver important developments on EPAZ as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in EPAZ stock, short or long.