Investorideas.com Newswire - AI Stock News: GBT (OTCPINK: GTCH) and BitSpeed Announce Joint Venture GBT BitSpeed Corp.

Newswire) GBT Technologies Inc. (OTCPINK: GTCH) ("GBT", or the "Company"), a company specializing in the development of Internet of Things (IoT) and Artificial Intelligence (AI) enabled networking and tracking technologies, including its GopherInsight wireless mesh network technology platform for both mobile and fixed solutions, announced that it has entered into a Joint Venture ("JV") Agreement with BitSpeed LLC ("BitSpeed"), a software development company located in the Los Angeles area. BitSpeed is currently partnered with a major Cloud Platform (GCP) and has an agreement to supply its software through GCP's Partner Advantage program, where their customers can buy certified solutions directly from GCP. BitSpeed's Concurrency application competes in the Extreme File Transfer market, which is a subset of the larger Managed File Transfer or MFT market. "Managed file transfer is a type of software that allows the transfer of files inside an organization or between multiple organizations. This method is a fast, secure, reliable, and a transparent way of exchanging files, with additional features such as tracking and monitoring. As a result, one can discover the loss of data from a specific point, and also receive an acknowledgement after successful completion of a file transfer process. With the advent of digitalization, companies are becoming heavily dependent on the successful transmission of digital files bearing critical information. Hence, this transmission should be secure, reliable, and quick to run the business process smoothly in real time. The demand for efficient and effective file transfer has been increasing in the past few years."