$ITMC ITOCO signs Intellectual Property Acquisitio
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Posted On: 08/31/2020 1:37:39 PM
$ITMC ITOCO signs Intellectual Property Acquisition and Technology Commercialization Agreement for Rapid DNA Testing and Immutable Virus Test Result Verification
TORONTO, ON / ACCESSWIRE / August 12, 2020 / ITOCO INC. (OTC PINK:ITMC) has acquired patent-pending technology for Immutable Virus Test Result Verification and commercialization services through an agreement with DATANet Software Development Corp.
This platform application will allow users and participants to prove their virus negative status and/or vaccine records by recording a bio-metrically registered immutable digital record onto the blockchain when fully developed. Further, this system will directly link to the digital output of virus testing systems.
ITOCO's new patent-pending Immutable Virus Test Result Verification System (USPTO Provisional Patent Application #63062398) combines the necessary elements of "an application which combines public key cryptography with biometric reading technology and the ability to write data to and retrieve data from a blockchain that is installed on a mobile computing device, a virus testing machine that processes a biological sample to test for a specific virus to return a positive or negative result, while associating that sample and result with an identity provided by the application and writing the results to a blockchain, a blockchain with deployed smart contract logic that verifies that only approved virus testing machines can write new data to the blockchain and that stores identity information that is written to it by the application and associates immutable test results with those identities, and a controlling application that deploys the smart contract logic code to the blockchain, and adds public key addresses for verified virus test machines that allow them to write virus test data to the blockchain, in a complete system that provides immutable virus test verification".
"The combined ITOCO Rapid DNA Virus Testing and Immutable Verification system has the potential to help hard hit industries open more quickly and safely, unlocking trapped wealth for those industries," says Greg Marlin, CEO/CTO DATANet, "and in addition to helping boost certain key sectors of the economy, it could also save many lives and livelihoods. It will allow users to prove their virus/vaccine/immunity status quickly and easily for the purpose of attending public events, travel, etc."
ITOCO CEO Michael Paul stated, "This agreement continues our commitment to commercializing the technologies we acquire through our business development activities in this area. The acquisition of this patent-pending technology affirms our focus on building a strong intellectual property portfolio in all areas of the bio-tech economy."
https://finance.yahoo.com/news/itoco-signs-in...00641.html
TORONTO, ON / ACCESSWIRE / August 12, 2020 / ITOCO INC. (OTC PINK:ITMC) has acquired patent-pending technology for Immutable Virus Test Result Verification and commercialization services through an agreement with DATANet Software Development Corp.
This platform application will allow users and participants to prove their virus negative status and/or vaccine records by recording a bio-metrically registered immutable digital record onto the blockchain when fully developed. Further, this system will directly link to the digital output of virus testing systems.
ITOCO's new patent-pending Immutable Virus Test Result Verification System (USPTO Provisional Patent Application #63062398) combines the necessary elements of "an application which combines public key cryptography with biometric reading technology and the ability to write data to and retrieve data from a blockchain that is installed on a mobile computing device, a virus testing machine that processes a biological sample to test for a specific virus to return a positive or negative result, while associating that sample and result with an identity provided by the application and writing the results to a blockchain, a blockchain with deployed smart contract logic that verifies that only approved virus testing machines can write new data to the blockchain and that stores identity information that is written to it by the application and associates immutable test results with those identities, and a controlling application that deploys the smart contract logic code to the blockchain, and adds public key addresses for verified virus test machines that allow them to write virus test data to the blockchain, in a complete system that provides immutable virus test verification".
"The combined ITOCO Rapid DNA Virus Testing and Immutable Verification system has the potential to help hard hit industries open more quickly and safely, unlocking trapped wealth for those industries," says Greg Marlin, CEO/CTO DATANet, "and in addition to helping boost certain key sectors of the economy, it could also save many lives and livelihoods. It will allow users to prove their virus/vaccine/immunity status quickly and easily for the purpose of attending public events, travel, etc."
ITOCO CEO Michael Paul stated, "This agreement continues our commitment to commercializing the technologies we acquire through our business development activities in this area. The acquisition of this patent-pending technology affirms our focus on building a strong intellectual property portfolio in all areas of the bio-tech economy."
https://finance.yahoo.com/news/itoco-signs-in...00641.html
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