#Technology Watch; Spherix (NASDAQ: $SPEX) Entrance into #CyberSecurity Market and #Blockchain Technology via DatChat Acquisition
#Technology Watch; Spherix (NASDAQ: $SPEX)
Entrance into #CyberSecurity Market and #Blockchain Technology via DatChat
Acquisition
Company To Enter Cyber Security Market and Expand
Proprietary Messaging Platform into E-mail Program That is Being Developed
Based Upon Ethereum Blockchain Technology
DatChat's goal is to develop a Digital Rights
Management Platform ('DRM') for blockchain
NEW YORK, - March 26, 2018 - Investorideas.com, a
leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com reports that earlier this month, Spherix Incorporated (NASDAQ: SPEX) a technology
development company committed to the fostering of innovation and monetization
of intellectual property, announced that it had entered into a definitive
purchase agreement to acquire 100% ownership of DatChat Inc. DatChat is a
privately held personal privacy platform, focused on Encrypted Communication,
Internet Security and Digital Rights Management.
DatChat recently launched its initial product, a
messaging application for mobile smart phones available on iOS and Android. The
app allows users to control sent messages on the recipient's phone.
Additionally, the Company is expanding its platform to include a peer-to-peer
secure email system that will be built on Ethereum blockchain technology. This
system is intended to provide enhanced security, because there is no central
storage point for messages, therefore they cannot be accessed by an
unauthorized recipient. Once fully-developed, the DatChat blockchain technology
is being designed to allow each message to become its own micro-blockchain that
will be permissioned, private and controlled. The closing of the acquisition
is subject to shareholder approval and other customary conditions.
In addition to the acquisition of DatChat and the
integration of the DatChat team, Spherix is further solidifying its holistic
move into this sector by establishing "Ether Mining Company" as a
subsidiary of Spherix. The purpose of the subsidiary is to mine the
cryptocurrency "Ether." Ether is a type of crypto token that fuels
the Ethereum blockchain network, upon which DatChat's distributed network is
being built.
Mr. Anthony Hayes, CEO of Spherix stated, "Cyber
security is a rapidly-growing sector based on the ever-increasing threats to
privacy and confidential information. News of data breaches at companies
large and small are becoming increasingly frequent. We believe that the
DatChat Platform offers a solution by giving users total control of their
information after transmittal. We believe that the further development of
the DatChat's messaging technology into an email application will be the next
evolution of blockchain, and that it will allow for permanent and ephemeral
chains, content delivery, mining and third-party application
development.
"DatChat was founded three years ago to address
the need for a mobile messaging application that provides a traditional
messaging experience, while providing users with complete privacy and control
for their messages after they hit send," said Mr. Darin Myman, CEO of
DatChat.
"Internet Privacy and cyber security lie at the heart of what we
do. We realized that most cybersecurity was focused only on keeping intruders
out, DatChat was developed as a complete messaging platform with ephemeral and
privacy features that uniquely protect us both before and after we hit send. We
believe that upon implementation, DatChat's blockchain technology, will allow
users to maintain the right to decide how their messages and information are
accessed, even after hitting send or submit. Essentially, DatChat's goal is to
develop a Digital Rights Management Platform ('DRM') for blockchain."
About DatChat
DatChat Inc. was founded three years ago by a team
dedicated to creating a personal privacy platform that always provides
privacy, control and security. The DatChat Digital Rights Mangagement
Technology ("DRM") is the core of the platform. First launching
the DatChat Messenger, the Company is now focused on developing it's blockchain
and "DRM" to solve cybersecurity issues, including issues relating to
email, filestorage and financial transactions.
About Spherix
Spherix is committed to advancing innovation by active
participation in all areas of the patent market. Spherix draws on portfolios of
pioneering technology patents to partner with and support product innovation.
Spherix has acquired over 100 patents from Rockstar Consortium Inc., and
several hundred patents issued to Harris Corporation, covering a variety of
methods and components involved in switching, routing, networking, optical and
telecommunication sectors.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might,"
"will," "should," "believe," "expect,"
"anticipate," "estimate," "continue,"
"predict," "forecast," "project,"
"plan," "intend" or similar expressions, or statements
regarding intent, belief, or current expectations, are forward-looking
statements. While the Company believes these forward-looking statements are
reasonable, undue reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the date of this
release. These forward looking statements are based upon current estimates and
assumptions and are subject to various risks and uncertainties, including
without limitation those set forth in the Company's filings with the SEC, not
limited to Risk Factors relating to its patent business contained therein.
Thus, actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a result of
new information, future events or otherwise, except as required by law.
Contact:
Spherix:
Phone: 212-745-1373
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2018
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