BitMint Intellectual Properties
US PATENT 11,107,156:
DIGITAL FINANCE: CASH, CREDIT, AND INVESTMENT INSTRUMENTS
IN A UNIFIED FRAMEWORK (BITMINT)
The BitMint digital money flagship patent: specifying the methodology for the BitMint financial language, how to express money in all its forms: cash, credit, debit, investment instruments. How to store and transact money securely and efficiently. This BitMint money offers full privacy for ordinary payors and payee, while providing means to enforce court orders on suspicious transfer of money. This patent specifies a cascaded format to track any financial complexity in a mathematically simplified form, amenable to computer manipulation, ready for conditional payments and for means to extract greater social impact from the national currency.
US PATENT 11,062,279:
HARD WALLET: A NEW TRUST BASIS FOR DIGITAL PAYMENT
This patent creates a new basis for payment trust. When we pay with banknotes we trust the money, when we pay with credit card, or with peer validated system, we trust the payor. With this invention a third option becomes available: trusting the wallet. The physical wallet commands trust because its identity can be ascertained through billions of measurements and physical properties -- the ultimate way to ascertain physical identity. This identification technology is applied to the payment device, which then passes its trusted validity to the payment bits that emerge from it. This hard wallet gains the trust of the payee without having to connect real time to the internet. It therefore allows for digital payment without global connectivity. And by having one such trusted wallet pass money to another trusted wallet, then the trust of the original wallet is passed along to the second wallet, and from there to the third, etc. All together a society holding such trusted hard wallets will conduct payment cash like even with persistent lack of global connectivity. In other words, this invention will keep payment continuity while the Internet is down, and do so indefinitely. The hard wallet will confer its trust to the money inside and to the software inside. The wallet can be secured to its owner via a bio port. The hard wallet works with BitMint digital coins as well as with other than BitMint digital coins. It provides the ultimate solution to the paramount requirement of payment continuity under all conditions.
US PATENT 9,471,906:
DIGITAL TRANSACTIONAL PROCEDURES AND IMPLEMENTS
This patent is a simplified version of the hard wallet. It is a physical coin commanding trust through the integrity of its shell, designed to be so brittle that any attempt to tamper with it will cause it to shutter to hundreds of small pieces. And therefore if handed over in one smooth piece, the shell is to be regarded as untampered with. And if the shell is trusted, then the payee will trust that inside the shell there is a memory (microSD) containing digital money in the denominated amount of the coin. As long as the shell is kept intact the coin will be passed around like a regular coin. When the shell if broken the digital money therein is uploaded and used. This simple payment solution can be used for store gifts, loyalty money, goodwill money etc.
US PATENT 8,229,859:
BIT CURRENCY: TRANSACTIONAL TRUST TOOLS
This original patent contains the foundation of the BitMint vision. It features an important novelty: delegation of authority to authenticate a transaction. The patented methodology will allow a central authentication authority to delegate that authority to subordinate centers, who could further delegate the authority below them, creating a vast hierarchical network to efficiently serve the trading public. While the authenticated money is envisioned to be BitMint money, this is not a requirement. Delegation of authority to authenticate transactions can be applied to a wide range of digital money solutions. By applying it one resolves the vulnerability of dependence on a single all-knowing database. This patent creates the power to trickle down authentication power without exposing the original database to the delegated stations.
US PATENT 10,965,460:
ROBUST SECURITY TECHNOLOGY FOR COUPONS
This patent extends the BitMint financial language to store money and loyalty cash, leveraging the power of stores to use their current customers as recruiters for future customers. This very efficient way to grow one's business is carried out via cryptographic means applied on the BitMint coin which has not only a value but also an identity -- making it trackable, and guidable. A host of new imaginative ways to grow one's business are being developed on the basis of this fundamental patent.
BitMint Money Language Technology
BitMint Technology is based on the novel and forward looking notion that quantum randomness can improve every technology in almost every field. Here we focus on digital money solutions, where we claim that every digital coin on the market today can be improved with proper injection of quantum randomness. And we further claim that it is advantageous to use the mathematically most basic, simplest expression of money -- and then inject quantum randomness into it, in order to upgrade it to achieve everything that digital money is expected to achieve. The result is BitMint -- it's robustness and security is insured by its utmost simplicity.
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BitMint is a technology hub pioneering novel thematic innovation through the methodology of Artificial Intelligence Assisted Innovation (AIAI). Combining material sciences and computer sciences, with financial insight, and recognizing quantum randomness as the cyber oil that powers cyberspace, BitMint is marching on with 23 awarded patents and about three dozen more in the pipeline. We focus our new technology on the dramatic promise of cyber finance, and secure exchange of value.
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BitMint awarded patents: (partial list)
6,823,068 * 8,229,859 * 9,471,906 * 10,395,053 * 10,445,730 * 10,467,522 * 10,523,542 * 10,541,808 * 10,541,954 * 10,594,480 * 10,608,814
BitMint products and technology (software and hardware) are driven by the recent realization that the rise of commercially available quantum grade randomness is a game changer. Skillful deployment of randomness throughout cyberspace is the call of the hour, and we are up to it.
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Here we focus on the effective use of quantum-grade randomness as the critical ingredient for construction of a comprehensive financial platform, designed to move and store money fast, efficiently, conveniently, and most importantly: securely.
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​Money becomes digital -- this train is moving and it is not going back, not halting either. Since 2009 the momentum was with bitcoin -- creating and facilitating a new currency. At the time Prof. Gideon Samid described bitcoin as "alchemy" -- the craft the predated chemistry, was overly ambitious, and totally failed (despite being practiced by revered luminaries like Isaac Newton). Yet, the underlying ideas were reshaped and gave rise to chemistry which turned out to be such a cultural life changer. Similarly bitcoin, and its imitators, are the modern version of alchemy, while BitMint is the modern version of chemistry.
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BitMint is technologically the most efficient way to achieve dematerialization of money. It is mathematically optimized to express digital money as the digital image of the familiar banknotes and jingling coins .
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Today digital money is a number in a memory address, it has no identity. Banknotes in your wallet, and coins in your pocket -- each has a material embodiment making it distinct and identifiable. BitMint money shares this all important feature: BitMint cash is like old cash: each BitMint coin has a value and a unique identity.
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This is the distinction that underlies BitMint bold claim that BitMint coins will be the money of the 21st century, and BitMint financial platform will be the universal rails for everything financial: credit, saving, investment, and special purpose money.
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Help yourself to recent books written by the BitMint team:
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