SAN DIEGO, April 21, 2021 (GLOBE NEWSWIRE) – GBT Technologies Inc. (OTC PINK: GTCH) (âGBTâ or the âCompanyâ) filed with the United States Patent and Trademark Office (âUSPTOâ) a provisional patent for the systems and methods of a financial software application to prioritize and consolidate the credit card billing system. The system will be offered as a web and mobile application. The system is intended to use GBT’s patented database management technology and enhanced by its artificial intelligence technology. The software design envisions automatic, characterized, and prioritized consolidation of different credit cards into one card method, point of sale, smartphone apps, and computer software.
When a credit card user uses their account, in most cases the selection of the card is done arbitrarily or based on the availability of credit. In many cases, the credit card user does not use their other cards with lower interest and benefits. The patent protects an automated software tool and a method that would combine all of its credit card accounts into one credit account. This system has a credit, automatically prioritizes and invoices according to the best interest of the user. In addition, it will âconsolidateâ all the lines of credit from its various credit cards into one âlargeâ line of credit. The one-credit system accumulates available credit from users’ credit cards on a single account. When a transaction is made, the system searches for the user’s most advantageous credit account and charges or assigns the amount to them.
The system will be managed by GBT’s artificial intelligence technology and will use its patented method of database sharing to enable high performance and security. The system will take into account the best financial aspects of all credit card accounts, automatically selecting the one that interests the user the most. These aspects include lowest interest rates, membership fees, cash advances, lines of credit, perks like mileage, gift certificates, and more. The assigned application number is 63175564 and the filing date is April 16, 2021. The company intends to file a non-provisional application in the coming months.
âWe are delighted to start another activity implementing our technology in a wide variety of areas. This one is in the financial arena. This patent aims to protect a hierarchical and characterized credit card system to automatically allow the best financial decision to be made with the user’s credit cards. The technology covered by the patent application contemplates the automatic ranking of the user’s credit card benefits, such as interest rate, reward programs and the like, and uses the one with the highest ranking to run the fees. This way, users will always use their financial credit account for the best interest. The system will combine all of the user’s credit accounts and allow consolidation of all credit lines into one account. Our artificial intelligence technology will be the brain to strengthen the whole system and we will implement our patented database management technology for fast performance and high security. Our artificial intelligence system will allow a personal âcredit counselorâ to help make all financial decisions relating to lines of credit, always keeping the best interests of the user in mind. This is the first time that we will be using our technology in the financial field and we look forward to further expansion in this field. Said Danny Rittman, the technical director of the company.
There is no guarantee that the Company will be successful in researching, developing or implementing this system or that it will obtain the patent. In order to successfully implement this system, the Company will need to raise sufficient capital to support its research and, if the research, development and regulatory approval is successful, the Company will need to enter into a strategic relationship with a third party that has experience in the manufacture, sale and distribution of 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 that considers itself native to the Internet of Things (IoT), intelligence artificial (AI) and activation Mobile technology platforms used to increase the performance of integrated circuits. GBT has assembled a team with extensive technological expertise and built an intellectual property portfolio made up of numerous patents. GBT’s mission is to license technology and intellectual property to synergistic partners in the areas of hardware and software. Once commercialized, GBT’s goal is to have a suite of products including smart chips, AI, encryption, blockchain, integrated circuit design, mobile security applications, management protocols. database, with tracking and cloud software support (without GPS). GBT envisions this system as the creation of a global mesh network using advanced nodes and high performance next generation IC technology. The heart of the system will be its advanced microchip technology; a technology that can be installed on any mobile or fixed device in the world. GBT’s vision is to produce this system as a low cost and secure private mesh network between all activated devices. Thus, providing advanced shared processing, management and sharing of mobile databases 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 relate directly to historical or current fact. Actual results may differ materially from those indicated by these forward-looking statements due to various important factors as disclosed in our documents filed with the Securities and Exchange Commission located on their website (http://www.sec.gov). In addition to these factors, actual performance, results and future results may differ materially due to more general factors including (but not limited to) general industry and market conditions and growth rates. , economic conditions, changes in government and public policy, the Company’s ability to increase capital on acceptable terms, if applicable, the successful development of its products by the Company and 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 opinions of the Company as of the date of this press release and those opinions are subject to change. However, although the Company may choose to update these forward-looking statements at some time in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be taken as representing the views of the Company as of a date subsequent to the date of the press release.