Aug 20, 2021

Patents, partners, payments and puppies

In the past few months, we have taken great strides toward our goal of bringing seamless, ultra-low-cost micropayments to the world. We made progress on the technical implementation, legal IP protection, liquidity, and raising awareness of the potential of our technology. Halfway through the year, we are well on track for our 2021 roadmap goals to implement the micropayments layer, gain consumer and commercial interest and adoption and launch the Geeq main-net. Here’s what we’ve done.

Patents filed for bearer tokens

In May, Geeq filed an application via the Patent Cooperation Treaty (PCT), building on our earlier United States Patent & Trademark Office (USPTO) filing. This is an important step in protecting our intellectual property, laying the groundwork for a global patent strategy, and adding subject matter relating to multisignature accounts and payments.

Two Geeq staking pools maturing & more to come

June saw our third web staking round released, with Geeq Liquidity Two and Staking Four pools offering flexible, high-interest instruments for investment in our project. We are excited to see so much enthusiasm from the community for building the Geeq platform and this is evidenced by the number of Geeq that has been locked up in the staking pools. Both pools will reach full maturity on September 7th @ 16:00 UTC . Due to the high demand for more staking, we are excited to announce we will open 2 new staking pools on September 7th @ 16:00 UTC, the same time as the older pools mature. As in all of our previous staking periods, this timing allows our community members to withdraw and re-stake your Geeq into the new pools in one session. Thank you for your support!

Remember to bookmark Geeq’s staking page. We will announce the terms of our new staking pools on September 1, on the website with reminders on Twitter and in our Telegram chat @GeeqOfficial.

Micropayment layer revealed

The most exciting, practical news was the release of our Micropayments Testing Framework v0.2.1 and the introduction of Geeq Pay. TF v0.2.1 drills down into the nitty gritty of how Geeq’s micropayments work, using our previously mentioned bearer token technology. The community asked for our Q2 technical update to be made in video form, so Lun walked Kieran through the demonstration, with the help of a very cute puppy.

Our Explainer archives have four more walkthroughs, and we share a chat between our founders explaining why Geeq’s technology is such a breakthrough for micropayments.

Another strong partnership to strengthen our market position

In August, Geeq announced its strategic partnership with 0chain, which offers high-performance, highly competitive, sharding and storage solutions. Both projects are well-positioned to provide infrastructure for the future economy’s use of data, at scale. The 0Chain and Geeq teams crossed paths when they found themselves working on the same efficiency and security issues, at compatible entry points.

Our CEO, Ric Asselstine, pointed out the following: “Because our Proof of Honesty consensus does away with scale and cost limitations, there is great potential for transforming industries from logistics to media. We are excited to work with 0chain to unlock creative thinking across the board.“  

In the headlines

With recent publications we have made the case for green blockchain, explored the history of the (as yet unrealised) vision of online micropayments, how it can be applied to re-inventing donation-models, and argued that the future of mobility will require seamless, private payment technology.

Coming in Q3…

Our work to implement a convenient way for senders to make payments using our ecosystem token naturally led to the development of a process to automate token receipt. In TF v0.2.1, we also introduced a Chrome extension called Go Micro, an in-browser application, known internally and in our patent application as a “high accessibility wallet”. Paired with Geeq Pay, which could be implemented on any webpage, TF v0.2.1 showed a micropayments process to bring both sides of the market together: for content, e-commerce, microdonations, and more.

Our next major milestone is to use containers for nodes and launch this framework in the cloud, to shift the impact of this demonstration to commercial prospects and website users, in addition to our technically oriented Geeqs. While Geeq Pay was highlighted as a stand-alone payments provider in TF v0.2.1, we wish to show next that it may be adopted easily by any existing content platform or payment provider.

In parallel, development has begun on other applications to demonstrate the versatility and efficiency of Geeq’s platform. Geeq’s bearer token technology has set the foundation for significant, efficient, and secure improvements for several of the most popular uses in the blockchain and crypto marketplaces.

As a result, we have revised the specifications for Geeq’s settlement layer to support a much wider range of payment-application use cases.

Note: none of these additional functions have changed any of the fundamental basis for Proof of Honesty or Geeq’s multi-chain architecture.

We look forward to sharing more news about those developments in the next installment.

Thanks for reading, be well, and be a Geeq!

The Geeq Team


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