edatanetworks Inc. Awarded Patent from USPTO featuring Blockchain and IoT for Community

EDMONTON, AB, Jan. 31, 2023 /PRNewswire/ - edatanetworks Inc. increases its intellectual property (IP) portfolio with an additional patent from the United States Patent and Trademark Office (USPTO). The USPTO approval of patent 16/446,728 enables the utilization of blockchain and Internet-of-Things (IoT) technology to drive community donations with verified impact.

"This patent builds on our IP portfolio of generating merchant-defined, consumer-directed donations from tokenized transaction data ? at no cost to the consumer. Cryptographically secure chains provide for unique labeling of each transaction and donation through the incorporation of role-based digital wallets and multiple synchronized blockchains. The generated donation is used to purchase an Internet-of-Things (IoT) enabled system in which anonymous real-time usage information confirms the efficacy of the donations and provides accountability details that can be shared with the consumers and merchants," said Chief Executive Officer, Terry Tietzen. "This further solidifies our IP's core principle in which all donations are 100% pass-through and auditable."

edatanetworks Inc. (edata), edatanetworks.com, a privately held intellectual property company established in 2001, has worked with many organizations and conducted multiple live market deployments creating patented philanthropic innovations utilizing existing technological and financial infrastructures?connecting consumers, local merchants, charitable and community organizations, digital media groups, communications companies, search providers, social networks, banks, payment networks, trusted intermediaries and other financial services organizations.

SOURCE edatanetworks Inc.