SAN DIEGO, Calif., Oct. 16, 2024 (Globe Newswire) — HUMBL, Inc. (OTC: HMBL) has been named by the U.S. Patent and Trademark Office (USPTO) as a “Currency Transfer System and Method Using Blockchain.” The patent was officially issued by the USPTO on October 15, 2024.
As more traditional assets and currencies are tokenized on blockchain, potential industry applications of this patent include digital wallets, digital asset exchanges, traditional stock exchanges, and traditional banks. , financial services and brokerage firms, and global money transfer and payment providers. , exchange agents, foreign exchange, credit card services, government services, etc.
The patent abstract is as follows: A blockchain-enabled financial services system with a user device and a blockchain ledger. The system includes a host database with a non-transitory computer-readable medium and a host controller that executes code. The host controller enables communication between the first digital wallet on the user device and the local currency account or digital currency account and initiates the deposit. This deposit is assigned a transaction ID, recorded on the blockchain ledger, and includes a value in the deposit currency. The method of transferring currency involves first enabling communication between a digital wallet and a digital currency account with a local currency account or host controller in a hosted database, assigning a transaction ID to the deposit, and recording the transaction ID containing the deposit. Includes: The value of the currency on the blockchain ledger.
“This patent has been a long time in the making, and we are grateful to the USPTO for its thorough and transparent review, which resulted in a comprehensive and unbiased review,” said Brian Foote, CEO of HUMBL. I believe we have achieved results.” Staying in the US to work in blockchain was certainly a very difficult process. However, we strongly believe in the thoughtful advancement of this technology in our country. Our blockchain currency transfer system brings massive access, cost, speed, security, and visibility improvements to consumers, businesses, capital markets, and governments. ”
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The provisional patent application was first filed on January 7, 2020, and the earliest publication date was July 8, 2021. The patent’s lead author is HUMBL CEO Brian McLaren Foote, with co-authors Adam Wolfe and Jeff Hinshaw. For more information about this patent, please see Bibliographic Data – Applications – Patent Center – USPTO.
About Humble
HUMBL is a consumer technology company focused on delivering innovative solutions across fully verified user profiles, digital wallets, and web platforms. Our mission is to build, simplify, and enhance digital experiences for customers around the world with verified communications and transactions.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements include “anticipate,” “believe,” “estimate,” “anticipate,” “intend,” “plan,” “predict,” “may,” ” Identified by the use of words such as ‘continue’ and ‘continue’. “may,” “would,” “could,” and similar expressions. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed in such statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties related to the ability to achieve the anticipated benefits of patents, competition, and general market conditions; Not. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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