TOKYO--(BUSINESSWIRE)-- Social Good Foundation, has submitted the Token Ecosystem Patent, a cryptocurrency application technology, to Japan and the U.S.A., and the application documents have been officially received by the both Patent Offices.
"Token Ecosystem Patent", cryptocurrency application technology
Applicant: Social Good Foundation Inc.
Date of official submission in Japan was January 18, 2018.
Date of official submission in the U.S.A. was January 23, 2018.
International patent submissions are to be followed accordingly.
Usage of "Token Ecosystem Patent"
Bitcoin, the typical example of cryptocurrency, does not create value only by possession, but benefits holders only when sold, and brings profits when selling if the price happens to be higher. In other words, Bitcoin is a vehicle of speculation with no value of possession / carriage. It has not yet prevailed sufficiently because it is risky, meaning that you could suffer significant loss.
The Token Ecosystem Patent, the cryptocurrency application technology, will carve out a way to resolve this fundamental problem of cryptocurrency. Social Good Foundation has invented a mechanism in which an economic ecosystem (Token Ecosystem) is constructed, and the price of the Token to be used and held will be enhanced to go up by reasonable expectations according to the economic activities of the participants therein.
The Token has value in being possessed and does not fall within the category of “securities” that regulations define, because it is a utility token. Social Good Foundation thinks that it is unprecedented and progressive enough to apply for a patent.
“We call a cryptocurrency utilizing the application of Token Ecosystem patent 'Co-Creation Cryptocurrency' (CCC),” said Soichiro Takaoka, Social Good Foundation Executive Director. “The Token, of which the price can be reasonably expected to increase because of its features, will make it possible:
- To let all the participants be in a “Win-Win” situation
- To attract newcomers into the Ecosystem”
Also, this enables governmental organizations, public organizations, and corporations to use it when aiming for an ICO (Initial Coin Offering), and for creating new token ecosystems.
For further information about Social Good Foundation, please visit: https://socialgood-foundation.com/en/