Crunchfish receives Chinese patent regarding proximity-based authentication
Crunchfish AB ("Crunchfish") has received a Notice of Allowance from the Chinese Patent Office that a patent regarding proximity-based authentication will be granted. The patent protects how the mobile user proves his or her identity or demonstrates ownership of a document of value in a proximity-based interaction. The Chinese patent, with patent number 201680030051.6, is valid until March 2036. This patent has previously been granted in Sweden, Europe and the USA.
The patent protects proximity-based authentication and prevents improper use of other people’s identities or documents of value in proximity-based interaction. It further raises the level of security for applications that implement Crunchfish's interaction solutions for mobile payment, by public key infrastructure technology which proves the mobile user's identity or demonstrates ownership of a document of value such as a discount voucher or travel ticket in public transport.
"This is a core patent that increases security in applications that implement Crunchfish's proximity interaction solutions", says Paul Cronholm, Crunchfish’s CTO.
Crunchfish's patent portfolio
Crunchfish has about 100 active patents and patent applications nationally and internationally within Crunchfish's five solution areas, counting patent rights per country. Counting unique inventions and granted inventions instead, there are 40 unique inventions/29 granted inventions in the company, and divided by solution area: Digital cash 7/0, Blippit 6/5, Food Waste 1/1, Nearby 14/12, Gestures 12/11. Crunchfish owns all its patents and patent applications without restrictions.
Crunchfish's strategy is to protect the company's technology in all geographic markets that are deemed important. Crunchfish intends to continuously expand its patent portfolio to selected markets and through new inventions.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@crunchfish.com
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
This information is information that Crunchfish AB is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on March 9, 2021.
About Crunchfish – crunchfish.com/digitalcash
Crunchfish is a tech company with a patent-pending solution for digital offline payments that can be integrated both with the payment rail or in a mobile wallet. The offline solution is globally scalable and makes digital payments more robust as the risks of disruptions and downtime are eliminated. We have also developed Blippit, an app terminal that connects to a cash register system for both online and offline payments. Crunchfish also develops gesture control of smart AR glasses for the consumer market. Crunchfish has been listed on Nasdaq First North Growth Market since 2016 with headquarters in Malmö, Sweden and with representation in India.
