STOCKHOLM, January 27, 2022 /PRNewswire/ — Crunchfish Digital Cash AB (“Crunchfish”) has received an International Preliminary Report on Patentability (IPRP) under Chapter II of the Patent Cooperation Treaty (PCT) for its original patent application Digital Cash PCT/SE2020/051251 indicating that all claims 1 to 44 are deemed patentable. The next step is to enter the national phase by July 2022 where Crunchfish must decide which markets to protect this important intellectual property. A patent, if issued, is valid until January 2040, 20 years from the initial filing date.
Upon payment, the transaction is digitally signed by the payer and transmitted locally to the payee as a message providing the payee with a digitally signed commitment, similar to a guaranteed check. If both parties are offline at the time of payment, settlement will take place later when one of the parties has an internet connection and access to the back-end of the payment service. All transactions are recorded locally by payer and payee. He debits the Digital Cash from the payer offline balance and could either credit the recipient’s digital money offline balance or require the incoming payment to be banked before it can be used.
“It is extremely pleasing that our first-ever Digital Cash patent application for offline payments will receive a clean slate on patentability. This is strategically important for several reasons; the patent application has an early priority date and a very broad scope. This also raises our hope that our many other Digital Cash patent applications may also be granted in the future, as they are based on the same fundamental principles,” said Joachim Samuelson, CEO of Crunchfish.
This clear report of the initial Digital Cash patent application follows the announcement of the first issued patent relating to interoperable offline payments in December 2021.
Below are links to earlier press releases related to this first Digital Cash patent application.
For more information please contact:
Joachim Samuelson, CEO of Crunchfish AB
+46 708 46 47 88
Erik Berggren, Head of IR
+46 726 01 16 73
This information has been provided by the above contact person for publication on January 27, 2022 at 15:00 CET.
Västra Hamnen Corporate Finance AB is the Certified Advisor. Email: [email protected] Telephone +46 40 200 250.
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