Interbittm Provides Patent Strategy Update Canada
INTERBITTM PROVIDES PATENT STRATEGY UPDATE
Canada / London, UK July 18, 2019
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 Interbit TM 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: [email protected]
Website: www.interbit.io
TM
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this release are forward-looking statements, which include receipt of patents
in connection with the Company’s patent applications, receipt of favorable patentability opinions
upon completion of amended PCT applications, timing of filing amended PCT applications, further
development of the Company’s business relationships and business and the timing, development,
launch and success of the Company’s technologies and products (including, without limitation,
successful development and commercialization of the Interbit TM platform), and other matters.
Forward-looking statements consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of forwarding-looking wording such as “may”,
“expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or
similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, estimates, forecasts, projections and other
forward-looking statements will not occur. These assumptions, risks and uncertainties include,
among other things, the state of the economy in general and capital markets in particular, the
development of competitive technologies, the marketplace acceptance of the Company’s
technologies and products, as well as those risk factors discussed or referred to in the Company's
annual Management's Discussion and Analysis for the year ended December 31, 2018 available
at www.sedar.com, many of which are beyond the control of the Company. Forward-looking
statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.