By: Geeq on Jun 18, 2021
- Geeq’s innovations open the door to microtransactions for fractions of a cent
- The patent would further expand IP protection to 153 states
- Patent application includes new areas such as multi-signature accounts and transactions
Waterloo, ON, Canada, June 18: Geeq Corporation has announced the filing of an international patent application to protect its intellectual property in relation to “bearer tokens”. The tokens operate akin to tiny digital cheques, enabling small value transactions for fees as low as $0.001. The latest application via the Patent Cooperation Treaty (PCT) builds on Geeq’s earlier United States Patent and Trademark Office (USPTO) filing, with the aim of acquiring protection on a pan-global basis.
“The practical implications of bearer tokens are immense. For the first time, it will be possible to efficiently transfer a few cents for trivial fees. This opens up entirely new use cases and markets, from pay-as-you-go digital services, to machine-to-machine transactions, smart logistics and smart mobility. Although we want to keep Geeq as accessible as possible to both users and developers, this filing is an important step in protecting our IP.”
— Ric Asselstine, Founder and CEO of Geeq Corporation.
The PCT has 153 contracting states and enables successful applicants to hold a priority position in these jurisdictions for up to 30-31 months before making local filings, enabling more flexible patent strategies. Geeq’s new PCT filing also encompasses subject matter related to multiple signature (multisig) accounts and multisig payment transactions for Geeq Chain-based ledgers.
About the Geeq Project
Geeq is a multi-blockchain platform secured by a new consensus mechanism called Proof of Honesty (PoH). It is safe enough for highly valuable data, cheap enough for IoT, and flexible enough for any use.
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