The GBT Technologies Inc (OTCMKTS:GTCH) stock has been in the middle of a steady selloff over the course of the past week and has recorded declines of as much as 24% during the period.
At this point in time the technology company is working on the development of a driver monitoring system. The company is deploying its own position detection and wireless movement technology code named Apollo into this project. It is an ambitious project for GBT Technologies and one that could pique the interest of many investors. However, more importantly, it is also believed that when the driver monitoring system is eventually developed it could also help in the detection of vital human functions like heart rate and breathing rhythm among others.
It is now an established fact as per data that most car accidents are caused by driver errors and a European survey has put the number at a staggering 90%. Some of the errors include distraction, fatigue, lack of attention, inexperience, medical emergency and intoxication. The driver monitoring system is meant for identifying when a driver is impaired or distracted in any way. Hence, the potential of the product could be significant and investors could do well to keep an eye on the progress that GBT Technologies make with regards to this project.
