Santa Cruz, California, April 27, 2023 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCQB: HMBL)
In a meeting held on April 25, 2023, the Board of Supervisors for the County of Santa Cruz provided unanimous approval to move forward with HUMBL, Inc. on the development of a digital wallet program that will utilize blockchain technology for services such as bicycle registration, RV parking registration and more.
As background, blockchain technology is an immutable, digital ledger that allows for the search, verification and tracking of transactions between parties. When used appropriately, blockchain technology can bring increased trust, transparency, and efficiency to government services, such as: digital identity, permitting processes and other government documentation including certificates and licenses that may require payments, issuance and renewals between parties.
On April 12, 2022, the Santa Cruz Board of Supervisors accepted a proposed scope of work for a digital wallet technology infrastructure from HUMBL, at no cost to the County, and instructed the County Administrative Office (CAO) to begin a pilot program that leverages blockchain technology to supplement government services and official documentation.
During the initial project planning phase, the State of California also passed legislation (Senate Bill 786, Hertzberg), signed by the Governor on September 28, 2022, that allows county governments to issue vital records for birth, marriage, and death certificates via verifiable credentials, which can be held in digital wallets and secured by blockchain technology.
“We believe the value of digitizing paper documents, records, and services is an important step forward for the convenience of Santa Cruz County residents and improving equity and access for our community. We look forward to driving this digital wallet innovation,” said Santa Cruz County Supervisor, Zach Friend.
“Our goal at HUMBL is to deliver a digital wallet and blockchain registry system that allows for faster, easier and more secure transactions between citizens and governments around the world,” said HUMBL CEO, Brian Foote. “We are proud to be piloting this work in the United States, right here in our home state of California.”
The parties entered into an agreement to manage the development of the new My Santa Cruz County (MYSCC) app, which features blockchain-based digital wallet technology. The progress thus far has resulted in the identification of business use-cases, a data security plan, and a draft agreement as described in detail below.
Throughout the pilot period, County staff will monitor constituent usage of the digital wallet, survey users, and prioritize future product features based on user preferences. While the project is starting small with very specific use-cases, the eventual target is to deliver a service so convenient that every resident of Santa Cruz County will benefit from adopting it across a spectrum of County services.
As development nears completion and launch approaches, County staff will provide a formal report on development and the rollout plan no later than early September 2023. Intermediate status briefings will be shared throughout the course of development.
About HUMBL
HUMBL is a Web 3 platform with product lines including the HUMBL Wallet™, HUMBL Search Engine™, HUMBL Social™, HUMBL Tickets™, HUMBL Marketplace™ and HUMBL Authentics™. The company also has a commercial blockchain services unit called HUMBL Blockchain Services™ (HBS) for corporate and government clients.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control. Except as may be required by law, HUMBL undertakes no obligation, and does not intend to, update these forward-looking statements after the date of this release.
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