N.KRAT Group AG contested Microsoft’s patent application for Cryptocurrency technology using data of human physical activity data.
Re: https://news.bitcoin.com/microsoft-cryptocurrency-system/
MICROSOFT FILED A PATENT APPLICATION FOR TECHNOLOGY DEVELOPED BY A THIRD PARTY TWO YEARS AGO.
N.KRAT Group AG, developers of Fridn - a cryptocurrency mining system, contested Microsoft’s patent application for the identical technology.
The patent application was filed by Microsoft Corporation at USPTO, United States Patent and Trademark Office on 26 March 2020. Microsoft is planning to obtain copyright on cryptocurrency system technology using human physical activity data.
A similar system called Fridn was developed by N.KRAT Group AG and is in use since 2018. The presentation of technology took place in Kiev and was mentioned in the local media. The originator of the project, Oleksandr Spindler has registered the copyright for technology development on 21 May 2018.
As a result, N.KRAT Group AG contested Microsoft’s patent application in accordance with Third-Party Preissuance Submission procedure filed to USPTO (United States Patent and Trademark Office) No. 16138518 with a confirmation number 4801 based on “lack of newness” on 28 April 2020.
Information about technology and relevant documents were sent to USPTO for further deliberation.
Fridn is the system of generation of free money protected with an electronic digital signature and cryptographic technology. Mining of free money is a three-stage process using trackers, Fridn app and server software.
1) The system registers human activity during sport exercises (running, walking, dancing, etc.) via tracker;
2) The obtained data is transmitted via Fridn app for verification and further processing;
3) In case of successful processing of received data, the system rewards a person with free money in the form of tokens protected by means of cryptographic technology and electronic digital signature.
The assets can be exchanged for other cryptocurrencies and be used to pay other members within a system for goods and services. Fridn has 15 thousands of active users in 12 countries throughout the world.
A unique algorithm for just, accurate and irrevocable cryptocurrency issuance and distribution has been developed. This way each system participant is rewarded for activities conducive to one’s personal development and health.
Contacts for Media:
Kati Aronson, email: media@fridn.email , tel. (GSM/Whatsapp, Viber): +447376116343