UnitedCorp Announces Filing of Blockchain PSTN-based Patent Application with USPTO
December 26 2017 - 9:15AM
InvestorsHub NewsWire
UnitedCorp Announces Filing of Blockchain PSTN-based Patent
Application with USPTO
Miami, FL -- December 26, 2017 -- InvestorsHub
NewsWire -- Miami-based United American Corp
(UnitedCorp), (OTC:
UAMA) announced today the filing of a patent
application for Blockchain PSTN technology with the United States
Patent and Trademark Office (USPTO). The US Provisional Application
entitled BLOCKCHAIN TRANSACTION SYSTEM AND METHOD
has been filed under serial number 62/610,141.
The patent application describes blockchain transaction
verification and overall integrity being achieved through a
Proof-of-Consensus (“PoC”) technology which is based on the Boolean
Algebra principle known as “Consensus Theorem” .
The technology named “BlockNum” is a Public
Switched Telecommunication Network (PSTN) blockchain distributed
and decentralized ledger and is based on SIP-Protocol (Session
Initiation Protocol) which is used by the vast majority of
telecommunications companies around the world.
BlockNum allows the execution of blockchain transactions between
any two telephone numbers. In the case of cryptocurrencies, this
means that transactions can occur simply and without the need for
“cryptocurrency wallets”, allowing anyone with a phone number to
execute transactions.
BlockNum uses new SIP protocol headers (Blockchain-SIP or B-SIP) to
embed key information for a blockchain transaction and this
information is updated in real time as the transaction proceeds
through the PSTN blockchain which will consist of a sophisticated
network of decentralized independent network elements or
“Nodes”.
Proof-of-Consensus will allow BlockNum to execute blockchain
transactions significantly faster and without the heavy
computational and energy requirements of many traditional
blockchains which can consume significant amounts of electricity
per transaction making it the first “Green” blockchain.
UnitedCorp manages a variety of patent and proprietary technologies
in Telecommunications and Social Media and recognizes the
importance of protecting its proprietary technology.
The BlockNum Beta version is expected to be released at the end of
March 2018 and the production release “Boolean” by the end of June
2018.
About United American Corp
Established in 1992, United American Corp is a Florida-based
development and management company focusing on telecommunications
technologies. The company currently holds the rights to manage a
portfolio of patent and proprietary technology in
telecommunications, social media and more recently in Blockchain
PSTN technology. For more information, visit: www.unitedcorp.com
This news release contains forward-looking statements that are
subject to various risks and uncertainties. The Company’s actual
results could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors that may
be beyond the Company’s control. Forward-looking statements are
based on the expectations and opinions of the Company’s management
on the date the statements are made, and the Company assumes no
obligation to update forward-looking statements should
circumstances in management’s expectations or opinions change.
Source:
United American Corp
Contact:
Jenna Trevor-Deutsch
Investor Relations
investorrelations@unitedcorp.com
604 398 5000 ext: 109
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