ZANTAZ, Inc. held a press conference today to introduce its new technologies for providing electronic message capture, archival and retrieval systems to businesses engaged in electronic commerce (e-commerce) transactions on wide area computer networks such as the Internet, value added networks (VANs), and intranets. The Company's processes offer vast improvements in the viability and efficiency of e-commerce.
The Company's President and founder, William E. Bankert, demonstrated the concept of e-commerce archiving and how it supports postmarked e-mail technology. Mr. Bankert described the urgent need and demand for secure messaging, archiving and retrieval on the Internet and other networks.
"Businesses today suffer from information overload. They desperately need a solution that simplifies access to that information. ZANTAZ was founded on the philosophy that information should be immediately available when you need it, and out of your way when you don't need it. Access to relevant information must be intuitive to be useful."
Along with maintaining the integrity of e-commerce transmissions, the Company's new processes will provide automatic capture and archiving of such transmissions and enable users to access them within seconds.
Mr. Bankert predicted that the availability of date and time authentication, security-coding, and validation for e-mail through the Company's proprietary products will "revolutionize electronic commerce" and, in conjunction with the ability to archive and retrieve such transmissions, "finally give businesses the tools and protections they need to conduct paperless transactions."
Every day there are an estimated half a billion e-commerce transmissions on the Internet, VANs, and other wide area networks. The e-commerce market is estimated to be growing by 50% each year ("1996 Electronic Commerce Strategies Report," The EDI Group, Ltd., May, 1996). The need for security and archiving in such transmissions is well recognized. The United States Postal Service (USPS) and AT&T; are among the major players to recognize this vast new market and have made recent announcements concerning their intent to provide such services through one or more independent companies. However, for a variety of reasons, primarily related to underdeveloped technology, this multi-billion dollar market remains virtually untapped.
Mr. Bankert addressed the issue of the Company's ability to attract major strategic partners by pointing out the pitfalls in other available technologies. Specifically, competing technologies lack the ability to assure the security of a message from transmission to receipt without the use of public-private key technology, which is cumbersome for users. The Company's processes avoid these pitfalls by providing secure messaging without the need for public-private key technology.
Also at the conference, Mr. Bankert introduced the Company's Vice President and CFO, Randall K. Gausman and the head of its software design and engineering team, Dr. George Gioumousis.
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