Crunchfish Digital Cash AB (“Crunchfish”) has received a Notice of Allowance from the US Patent and Trademark Office (USPTO) for its initial Digital Cash patent application indicating that all claims are deemed patentable. US is the first jurisdiction to grant a patent for this innovation. The patent with application number US 17/796 050 is valid until January 2040, 20 years from the original filing date.

This patent protects many fundamental aspects of offline payments. The basic scope is that the transaction is digitally signed by the payer and transmitted locally to the payee as a token providing the payee with a digitally signed commitment. When any of the parties gets online access, the transaction, stored by both parties, is communicated to the back-end ledger independently of each other. 

This patent application has previously received a positive International Preliminary Report on Patentability and it is now in the process of being nationalized in the US, Europe, India, China, and Taiwan.

” It is extremely pleasing that our first and very fundamental Digital Cash patent application for offline payments is now granted in the US. This is strategically important for several reasons; the patent application has an early priority date January 2020, a very wide scope that protects many technical aspects and we expect that our many other Digital Cash patent applications may also later be granted in other jurisdictions”, says Joachim Samuelsson, CEO of Crunchfish.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information is such information as Crunchfish AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11:45 CET on July 1st, 2024.

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 device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been 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 and Tata Consultancy Services (TCS) have entered into an alliance agreement targeting Central Bank Digital Currency (CBDC) projects around the world where Crunchfish will augment the Quartz solution for CBDCs with offline payments capabilities. A part of the Tata group, India’s largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. 

Quartz™ provides foundational technology, tools and business components that harness the power of next-gen technologies including DLT, AI/ML for organizations across varied industries. As a highly resilient technology, DLT can seamlessly integrate CBDCs with data-intense banking operations in a secure manner and enable a retail digital payments transformation. Crunchfish complements by providing resilience on the edge by device-agnostic trusted client applications that may be used for offline payments in both CBDCs and commercial payments systems.

Crunchfish and TCS have entered into an alliance agreement to augment the Quartz solution for CBDCs with offline payments enabled by Crunchfish’s patented Digital Cash solution. Offline payment availability is considered essential in CBDC projects to enable cash-like functionality in digital form. Crunchfish and TCS will work together to offer this combined solution for customers looking to integrate CBDCs into their business landscape.   

“We are extremely pleased to complement TCS’s Quartz solution with device-agnostic trusted client applications. “We will work closely with TCS to promote solutions to central banks and other parties that require secure, scalable, and resilient solutions in the backend as well as the frontend.", says Joachim Samuelsson, Crunchfish’s CEO.

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 above for publication on 1st July 2024 at 08:30 CET.

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

About QUARTZ – https://www.tcs.com/quartz

Quartz provides foundational technology, tools and business components that harness the power of next-gen technologies including DLT, AI/ML for organizations across varied industries. Quartz caters to organizations across Industry segments including Financial Services, Banking, Supply Chain, Energy & Utilities and eGovernance. Backed by awards from the Asian Banker (Best Fraud Prevention Technology Implementation 2023), Financial Technology Forum (Best New Post Trade Solution of the Year 2022), Asset Servicing Times (Outstanding Innovation Award 2022) and recognition from Analysts (ranked #1 Best Performing Fraud Management Solution by IBS Intelligence 2022) Quartz can help organizations operate at the forefront of technology innovation. To know more about Quartz, please visit: https://www.tcs.com/quartz

About TATA CONSULTANCY SERVICES (TCS) – http://www.tcs.com

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit http://www.tcs.com.

TCS media contacts:

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been 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 announces today that the next version of the Digital Cash SDK will enable programmable money for offline / online payments for Central Bank Digital Currencies (CBDC) and commercial payment systems. In parallel, Crunchfish has applied for a patent for payee-controlled programmable payments, enabling layer-2 programmable payments that can be verified offline with conditional settlement online. Programmability is an important new feature for CBDC and commercial payments systems that enables money control and payments flexibility.

Programmability is an important feature in modern payments systems. CBDC used to direct social benefits for specific purposes implements this by programmable money. This is supported in the next version of Crunchfish Digital Cash by means of handling multiple balances in the wallet. There are also use cases for multiple balances for commercial payments systems. Programmable payments, often referred to as smart contracts when implemented on a blockchain, enable more complex transactions to be implemented. This is based on conditional settlement when one or more specified conditions have been met.

In parallel to this announced Digital Cash version, Crunchfish applied yesterday for a patent application for programmable payments with the novel aspect of having the settlement conditions specified and verifiable by the payee. This offers a wide range of use cases within payments, enabling automation, transparency, and security in financial transactions and services. Use cases include international money transfers, escrow services, subscription services, micropayments, and peer-to-peer payments. The patent, if granted, is valid for 20 years until June 2044.

“We continue to evolve the Crunchfish Digital Cash solution and we are now adding programmability as well, both in terms of programmable money in the next version of Digital Cash as well as payee-controlled programmable payments as a patent-pending feature.”, says Joachim Samuelsson, CEO at Crunchfish

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information is such information as Crunchfish AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 01:00 CET on June 12th, 2024.

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 device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been 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 looks on the critical role of device-agnostic trusted client applications across diverse verticals such as mobile payments and edge AI. Security, privacy, and resilience can be improved by providing a robust framework for processing data offline. This whitepaper explores novel offline use cases and the benefits of leveraging such trusted client applications in handling sensitive data without constant connectivity to centralized servers.

Device-agnostic trusted client applications are indispensable tools for enabling secure offline data processing in mobile applications for a diverse range of use cases from mobile payments to edge AI. Trust in clients requires a robust framework for handling sensitive data across diverse industries and one aim of this whitepaper has been to point to the diverse set of technical features required. By harnessing trust in clients in mobile applications, organizations can have multiple benefits that has been described as server enhancements, offline capabilities in the clients, system benefits, and commercial benefits in systems that involve processing sensitive data offline. As the demand for secure offline solutions continues to grow, the integration of device-agnostic trusted client applications will play a pivotal role in fostering innovation, security, and reliable operation for many use cases across many industries.

Find the whitepaper on this link.

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 above for publication on 6th June 2024 at 16:20 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 device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been 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 having world-leading expertise to deliver device agnostic trusted client applications has been engaged to conduct a security and vulnerability assessment for a prominent payment service. The assessment will be conducted during Q2 for a contract value of 325,000 SEK.

Crunchfish has been engaged to perform a security and vulnerability assessment for a leading payment scheme. The objectives of the assessment are to identify and evaluate potential impact of vulnerabilities and to provide recommendations for risk mitigation. The project will start in May and be presented in a report and a workshop within a month. The vulnerability assessment is charged at approximately 325,000 SEK, whereof 25% will be invoiced at project start and the remaining 75% after project completion.

“Crunchfish understands how to deliver device-agnostic trusted client applications. The results of the assessment will be presented to the payment scheme and will form the basis for a discussion on how Crunchfish Digital Cash may support them to overcome identified security vulnerabilities.", says Joachim Samuelsson, Crunchfish’s CEO.

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 29th May 2024 at 16:10 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 device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Privacy is an area that has not been explored deeply for CBDC systems, yet it is key for public adoption of digital currencies. In this whitepaper, Crunchfish outlines practical considerations for how privacy may be implemented in CBDC systems and presents an innovation that balances the public’s need for privacy with regulatory requirements for transactional traceability.

This whitepaper introduces a way of implementing privacy in CBDC systems. Crunchfish has recently implemented and patented a novel approach with balance reconciliation. Private transactions are encrypted and sent to the backend, but where the keys used for the transaction are wallet keys, in contrast to prior art using public keys controlled by either the issuer or an escrow agent. In this way the payer is in full control of the privacy of their transactions even if all private transactions are sent to the online ledger encrypted. In this innovative way, regulatory requirements for transactional traceability are balanced with requirements for privacy where the payer is in full control of the encrypted transactional data for amounts below defined thresholds, defined by the issuer and the regulator. If the issuer suspects an attack by the payer, the issuer can contact the payer for permission to decrypt the data. In case the payer is not willing to grant access, the issuer may decide to lock the wallet or disallow any more private transactions.

The whitepaper is attached to this communication and available with other Crunchfish whitepapers. This whitepaper is published also as a supplement to Central Bank Payments News, May 2024. At the Central Bank Payment Conference in Kuala Lumpur on June 10-12, Crunchfish will present technical ways to guarantee true privacy in CBDC systems and discuss security and scalability issues for hardware- and software-based CBDC mobile wallets.

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 above for publication on 28th May 2024 at 08:30 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.

Access to the full white paper following this link

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