DigitalX Ltd files unique blockchain patent for its money transfer app

DigitalX Ltd (ASX:DCC) has filed its second global provisional patent application, further strengthening the company’s ‘AirPocket’ blockchain-based money transfer app.

AirPocket can also be used to pay bills and top-up phones.

The new patent describes a method for creating and storing a digital ID on a blockchain, and providing the owner of the ID a way to grant access to historical data from a point in time.

In AirPocket, this method is known as an “AirID”.

An AirID is created for each user that is digitally on-boarded via AirPocket once successfully passing Know Your Customer, Sanctions and Politically Exposed Person checks.

These three processes are necessary to make international payments from the U.S using the AirPocket mobile application.

The AirID solution is expected to generate significant interest from government and commercial groups looking for a blockchain digital Identity solution.

Earlier this week, DigitalX completed integration with telecommunications carrier AT&T Mexico and a leading global provider of AirTime coverage, TransferTo.

Airtime transfers are regarded as an economical way to send small amounts of money internationally in real-time and for recharging mobile phones.

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Source: DigitalX Ltd files unique blockchain patent for its money transfer app – Proactive Investors Australia