MIAMI, Dec. 26, 2017 (GLOBE NEWSWIRE) -Miami-based United American Corp (UnitedCorp), (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.
United American Corp
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