INTERBIT LTD. (TSX Venture: IBIT) (the “Company”) is pleased to announce it has now received patentability opinions for five of the six Patent Cooperation Treaty (“PCT”) applications made by the Company for its InterbitTM platform. The Company’s patent strategy has been to seek to protect the unique features of its product which seeks to capture large scale virtualization of blockchains through its multi-chain software architecture (please see the Company’s April 25, 2019 news release).
The Company has recently received a favorable patentability opinion for its “Chainception” PCT application, wherein all three requirements for patentability (novelty, inventive steps and industrial application) appear to be met. Chainception refers to the process of hosting a new blockchain using an existing blockchain node, a necessary step for any multi-chain architecture.
Patentability opinions have also been received for its PCT applications directed at: (i) “Hypervisor” – virtualization technology for blockchains; (ii) “Hyperconvergence” – controlling resources attached to other Interbit blockchains; (iii) “Payload Layer” – storing multiple Gbytes of data in conjunction with a blockchain; and (iv) “Side Effects” – allowing the blockchain to interact with sensors and other hardware in a distributed blockchain denominated manner. These opinions included findings that certain claims in the applications were novel and inventive and others were not. The Company plans to file amendments to these PCT applications in August and to request revised opinions.
“Interbit’s platform and asset building strategy is focused both on advancing the performance of its multi-chain software platform and developing patent protection around the product developments we are achieving,” said Scott Maxwell, COO of the Company. “Interbit’s ambitions are to build the multi-chain format technology that will be able to offer a level of data management, privacy and security that meets the demands of evolving regulations such as GDPR, as well as the technology infrastructure advances of 5G and Edge computing.”
ABOUT THE COMPANY
The Company is a technology platform provider listed on the TSX Venture Exchange and operating from both Canada and the UK with offices in Calgary and London.
For further information please contact:
Dominic McCann, CEO
Phone: +1-778-834-8417
Email: investor@interbit.io
Website: www.interbit.io