Crunchfish receives clean IPRP for the initial Digital Cash patent application

Author: Cision AB / 2023-07-24 00:03 / Source: Cision AB

Crunchfish receives clean IPRP for the initial Digital Cash patent application

STOCKHOLM,Jan. 27,2022 -- Crunchfish Digital Cash AB ("Crunchfish") has received an International Preliminary Report on Patentability (IPRP) in Chapter II of the Patent Cooperation Treaty (PCT) for its initial Digital Cash patent application PCT/SE2020/051251 indicating that all claims 1 - 44 are deemed patentable. The next step is to enter the phase of national phase in July 2022 where Crunchfish must decide which markets to protect this important intellectual property. A patent if granted is valid until January 2040,20 years from the original filing date.

At the moment of 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 moment of payment,settlement will take place later when one of the parties has internet connection and access to the payment service's back-end. All the transactions are logged locally by both the payer and the payee. It debits the payer's Digital Cash offline balance and could either credit the payee's Digital Cash offline balance or demand that the incoming payment is banked before it may be used.

"It is extremely pleasing that our very first Digital Cash patent application for offline payments receives such a clean slate on patentability. This is strategically important for several reasons; the patent application has an early priority date and a very wide scope. It also raises our expectations that our many other Digital Cash patent applications may also be granted later,as they are based on the same core principles,"says Joachim Samuelsson,CEO of Crunchfish.

This clean report of the initial Digital Cash patent application follows the announcement of the first granted patent regarding interoperable offline paymentsin December 2021.

Below are links to earlier press releases related to this initial Digital Cash patent application.

Date

January 30th,2020

https://www.crunchfish.com/crunchfish-enables-offline-frictionless-mobile-payments/

February 12th,2020

https://www.crunchfish.com/crunchfish-enables-digital-cash-as-the-default-means-of-payment-for-real-time-mobile-payments/

April 20th,2021

https://www.crunchfish.com/crunchfish-pursues-its-initial-digital-cash-patent-application/

August 5th,2021

https://www.crunchfish.com/crunchfishs-initial-pct-patent-application-for-digital-cash-published/

For more information,please contact:

Joachim Samuelsson,CEO of Crunchfish AB