San Diego, CA - April 21, 2021 (Investorideas.com Newswire) Breaking AI stock news - GBT Technologies Inc. (OTC PINK: GTCH) ("GBT" or the "Company") filed with U.S. Patent and Trademark Office ("USPTO") a provisional patent for systems and methods of a financial software application to prioritize and consolidate credit cards charge system. The system will be offered as a web based and mobile application. The system is targeted to use GBT's patented database management technology and empowered by its Artificial Intelligence technology. The software design contemplates an automatic, characterized, and prioritized consolidation of different credit cards into one card method, point of sale, smartphone applications and computer software.
When a credit card user is using his/her account, in most instances the selection of the card is done arbitrarily or by credit availability. In many cases the credit card user is not utilizing his/her other cards lower interests and benefits. The patent protects an automated software tool and method that would combine all of his/hers credits cards accounts into one credit facilitate account. This one credit system, automatically prioritize and charges according to the user's best interest. Furthermore, it will "consolidate" all the line of credits from his/her differ credit cards into one "large" line of credit. The one credit system accumulates the users' credit cards available credit into one account. When a transaction is made, the system searches the user's most beneficial credit account and charges or allocates the amount to it.
The system will be managed by GBT's Artificial Intelligence technology and use its patented, database sharing method to enable high performance and security. The system will consider the best financial aspects of all credit card account, automatically selecting the user's best interest one. Among these aspects are lowest interest rates, membership fees, cash advanced, line of credit, benefits like mileage, gift certificates, and similar. The assigned application number is 63175564 and the filing date is April 16, 2021. The company intends to file a nonprovisional application during the next few months.
"We are excited to start another activity of implementing our technology in wide variety of domains. This one is in the financial arena. This patent aims to protect a prioritized, characterized credit card system to automatically enable making the best financial decision with user's credit cards. The technology covered by the patent application contemplates the automatic ranking of the user's credit card benefits like interest rate, reward programs and similar and use the one with the highest rank to execute charges. In this way users will be always using their best interest financial credit account. The system will combine all user's credit accounts and will enable consolidation of all credit lines into one account. Our Artificial Intelligence technology will be the brain to empower the entire system and we'll be implementing our patented database management technology for fast performance and high security. Our AI system will enable a personal "credit advisor" that helps with all credit lines financial decisions, always keeping in mind the user's best interest. This is the first time that we will be using our technology in the financial arena and we look forward for further future expansion in this domain." Stated Danny Rittman the Company's CTO.
There is no guarantee that the Company will be successful in researching, developing or implementing this system or that it will be granted the patent. In order to successfully implement this system, the Company will need to raise adequate capital to support its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company will be successful in any or all of these critical steps.
GBT Technologies, Inc. (OTC PINK: GTCH) ("GBT") (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT's mission, to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT's goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT's vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements because of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website ( http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
Dr. Danny Rittman, CTO
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