Brief summary of the European Patent Number:
EP 3 857 405 B1 and the US Patent Number: 12,430,644
1. Basic Description
The patent covers a database system in which users can store data and still have complete ownership and can change their data whenever they want.
Users can also decide who can see the data, such as individuals or people in certain regions. The technical solution is called chain code technology. Data blocks are attached to data chains pulled by the user with access to this data. Such data blocks can also be disconnected from the owner and the user, creating an unchangeable system of data attached to the chain. This becomes an internal NFT accessible to the people involved. Such internal NFT can now be transferred onto an external blockchain into a wallet and further traded.
The patent also covers crypto payments on our proprietary blockchain without any blockchain-related transaction cost. Transactions are done on these blockchains, and the cryptocurrency used serves as a transaction currency. This is called a parallel token solution because this transaction currency can be swapped in and out with other cryptocurrencies.
This system of chain code technology and the parallel token solution also allow the creation of so-called smart agreements between users. This can be used to share commissions with agents, influencers, and all parties involved in a deal.
2. The patent describes the possible applications as follows:
The application possibilities are very extensive, as the system allows for total data security and data control by the user, as well as if the users involved so desire, the creation of an unalterable receipt or confirmation of a certification in the server system of the inventive social network via the so-called internal receipt ledger. If desired, the data recorded there can be transferred to a blockchain, where this information is stored and confirmed outside the inventive social network server system forever but only visible to authorized users.
The use of the blockchain for cryptocurrencies and the connection with the comprehensive processing interface of the inventive social network enables countless further application possibilities. This possibility of creating additional data chains for selected users in the social network, according to the invention via the existing data chains, opens up countless possible applications that are not yet foreseeable, especially for very complex communities with very complex tasks.
3. The Technology Explainer Video
4. Links to the Patent in German but the claims at the end are in English and French
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