Crunchfish has applied for a Swedish patent for a method to prevent fraudulent rollbacks. The patent application enables Trusted Applications to execute securely in software-based trusted environments, which is key for CBDC implementations and other payments applications to achieve scalability, interoperability and cost-efficiency.

Crunchfish has applied for a patent for method of preventing fraudulent rollback of a protected asset in trusted application, executable in a secure execution environment on a host device. Rollback is a technique wherein an identical instance of the entire host device or the trusted application running therein, depending on the security arrangement, is created, cloned and then re-installed in order to re-use the protected asset. The clone may be rolled back to act as the original trusted application or host device. A malicious user attempting to hack the host device, or with the intent of being able to fully access all of the functionality of the host device.

Rollbacks give rise to critical security vulnerabilities relating to fraudulent use the protected assets in a trusted application. For instance, double-spending may occur if a clone of the Digital Cash Trusted Application is rolled back and continues to operate offline. Other related security vulnerabilities may be realised in other scenarios, for instance multi-usage of any finite resource or exploiting license timers for subscriptions or accounts or exploiting expiry timers.

“This is another strategic Crunchfish Digital Cash innovation enabling payments applications to execute securely in software-based trusted environment on smartphones, the dominant bearer for payments. As it is not possible that all users should be forced to use the hardware, the trusted environment for payments on smartphones need to be software-based. This is key for CBDC implementations and other payments systems to achieve scalability, interoperability and cost-efficiency”, says Joachim Samuelsson, CEO of Crunchfish.

This patent application protecting against fraudulent rollbacks complements Crunchfish’s patent application from last year that prevented fraudulent cloning.   

 
For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 17 March 2023 at 00:01 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Lipis Advisors in partnership with Crunchfish released today the second white paper – A practical guide for offline payment security – in the Enabling offline payments in an online world series, outlining the key security aspects relating to offline payments. The white paper includes also Crunchfish’s contrarian views on offline payment design and security. A webinar covering the key insights of the whitepaper will be held tomorrow morning.

Crunchfish are pleased to announce that Lipis Advisors have today released a second white paper in the series – Enabling offline payments in an online world. The white paper with the subtitle – A practical guide to offline payment security, provides valuable insights to how to design a secure and scalable offline payment system that can interoperate with online payment system. It provides the payment ecosystem with a better understanding of the nuances of offline payments security. The white paper includes an editorial that describes Crunchfish’s perspectives on offline payment design and security. 

On Friday March 17th at 8 am CET / 12.30 IST, Crunchfish in partnership with Lipis Advisors will host a webinar where Bonni Brodsky, Managing Consultant at Lipis Advisors will present the key insights of the whitepaper, followed by a panel discussion with V-key CEO Jospeh Gan and Crunchfish CEO Joachim Samuelsson moderated by Johan Wester. Register for the webinar here

All webinars will be available on our website, our YouTube channel and as podcasts on Spotify, Apple Podcasts and anywhere where podcasts are available, distributed from our SoundCloud channel. You can subscribe and never miss when we publish new episodes.

About Lipis Advisors
Lipis Advisors is a Berlin-based strategic consulting firm focused exclusively on the payments sector. Our expertise has expanded over the years, evolving from research-driven comparative analysis of core payment systems to strategic advice for diverse stakeholders on topics ranging from cryptocurrencies, CBDCs, digital banking, real-time payments, fraud mitigation, payment design and implementation. We have provided consulting services to clients in 40+ countries around the world, including international organizations, financial institutions, payment service providers, fintechs, payment schemes, payment system operators, technology vendors, industry associations, and regulators.

 
For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on March 16, 2023 at 13:15 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish presentation in English from Stora Aktiedagen Stockholm is now available where Crunchfish CEO outlined several contrarian perspectives that are necessary for payment services to survive in the face of temporary failures.

Crunchfish Group CEO Joachim Samuelsson presented Crunchfish’s pioneering Digital Cash solutions for making digital payments robust at Stora Aktiedagen Stockholm on Tuesday, March 14. Watch the presentation via this link.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish Group CEO Joachim Samuelsson will present Crunchfish’s pioneering Digital Cash solutions for making digital payments robust at Stora Aktiedagen Stockholm on Tuesday, March 14, at 13:30 CET. Joachim will outline several contrarian perspectives that are necessary for payment services to survive in the face of temporary failures.  

Crunchfish presentation will be in English, use the opportunity to ask your questions to the presenter, by sending an SMS to 079-347 98 45 or email event@aktiespararna.se. Your questions will be conveyed by Aktiespararna’s moderator during the Q&A session the follows your presentation. You can submit your questions now or during the presentation. Follow the link for event program.

Watch Crunchfish’s presentation from February 6th, 2023 at Aktiedagen Göteborg – the paradigm shift in payments –via this link and Crunchfish’s presentation from November 30th 2022 at Stora Aktiedagen Stockholm on the theme “Big deals are coming” via this link.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish have signed an agreement with Change2 in Italy for a Proof-of-Concept project to enable virtual try-ons. The target is to develop a joint offering to enable virtual try-ons. Crunchfish’s XR Skeleton product will be integrated in Change2’s 3D environment to enable any mobile device with powerful object visualizations for an amazing virtual try-on and shopping experience.

Crunchfish are a global provider of hand tracking technology and Change2 offer software and services to famous luxury brands. Crunchfish’s technology for hand detection and tracking in combination with Change2’s customer network and ability to develop 3D web solutions is a perfect fit to enable virtual try-ons of eg. watches, bracelets and rings. The companies now enter a partnership to develop a joint solution targeting this great market.

In short, a virtual try-on is the way a customer can try on a product through mobile or other devices equipped with a camera. Thanks to an underlying AR technology, future customers can see themselves in a beloved product on the screen of their smartphone. It is a huge market that is growing rapidly.

Crunchfish XR Skeleton provides hand tracking capabilities to eg. AR and mobile devices by analyzing the image stream from the camera sensor(s) and then tracking 21 points on each hand with high precision. These points or coordinates are then used to place virtual objects on hand, wrist, fingers etc.

Change2 is working with famous luxury fashion brands to enable virtual try-on solutions and experiences in augmented reality. The company’s expertise in 3D modeling and web solutions as well as UX design make Change2 a very capable player in this industry.

“We are thrilled to start this collaboration with Crunchfish, as we strongly believe that VTO solutions are getting more and more important for luxury fashion brands. This strong partnership could possibly create the best in class virtual try-on solutions for the luxury brands, says Lorenzo Corazza & Alberto Malavasi, Founders at Change2.

“I am very excited about this project and delighted to contribute to Change2’s virtual try-on offering by providing our XR Skeleton solution. Change2’s technical expertise and insights in the industry combined with Crunchfish’s technology can open many joint opportunities in an exciting business segment”, says Joakim Nydemark, CEO at Crunchfish Gesture Interaction.

About Change2 – https://www.change2.it
Change2 unlocks the client’s potential by developing & integrating innovative experiential solutions such as VR, AR, 3D configurator and Virtual Try-on directly on the Web or on a custom-built App. The company provide a 360-degree service that includes the creation of 3D assets and technology development & integration. Change2 support brands with a partnership business approach based on flexibility, scalability and adaptability.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

The information was provided by the contact person above for publication on 9 March 2023 at 14:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com/gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.

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Crunchfish have signed a Letter of Intent to acquire a payment platform company based out of India. The acquisition will increase the company’s presence in India and expand the product- and patent portfolio. The aim is to close the intended acquisition in Q2 2023.

Figure: The intended acquisition will extend Crunchfish Digital Cash product portfolio as illustrated above.

To establish an operation in India is important for Crunchfish to be present where most real-time transactions are processed in the world. Crunchfish have today signed a Letter of Intent to acquire a payment platform company based out of India. A due diligence process will start immediately having the Crunchfish management team in India this week. Once the transaction is closed, the intended acquisition will increase the company’s presence in India and expand its product- and patent portfolio.

The potential acquisition will not impact the relations with existing payment platform partners. Digital Cash integrations into their solutions are key as Digital Cash will be distributed to their customers.

The acquisition is expected to be closed in Q2 2023 and financed by using existing cash in Crunchfish.
More details on the acquisition will be disclosed when the deal is closed.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 1 March 2023 at 08:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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