We are pleased to announce that CROSSTECH has applied for a new patent in Japan for CROSSVALUE Chain, which is a blockchain infrastructure currently under development on the mainnet.
This patent application is the second patent application following the patent application for Xwallet's private key storage technology, which was accepted in 2019.
CROSSTECH aims to build a "value exchange infrastructure using tokens", and the CROSSVALUE Chain will be CROSSTECH's own blockchain that supports that infrastructure.
The CROSSVALUE Chain is designed to be self-sustaining and decentralized, and since 1978 this autonomous decentralized system has also been used for the JR East Shinkansen system, the Tokyo Metropolitan Railway Transport Management System ATOS (Autonomous Decentralized Transport Operation System), and electronic commerce. This technology is also currently used in the Japanese IC card system (Suica).
The development of CROSSVALUE Chain is carried out by Dr. Takahashi, who has been involved in the development of the above-mentioned self-sustaining distributed system, as he also invented the contents of this patent application.
The features of the CROSSVALUE Chain are designed to handle NFTs professionally, save energy, have low latency (fast remittance speed), designed to work with Xwallet and Decentralized Autonomous Storage System (DASS), and be cryptographic. It incorporates functions difficult to realize with a conventional blockchain, such as prevention of mistransfers of assets and management of access rights to NFT data using tokens.
By using the CROSSVALUE Chain, we can solve the traceability problem between data and blockchain, which is a drawback of conventional blockchains, and realize more robust data management and operations.
As the Internet evolves to Web 3.0, the demand for decentralized value exchange is expected to increase, and we believe the development concept of the CROSSVALUE Chain is a blockchain system that meets world needs.
In order to increase the market value of CROSSVALUE Chain, CROSSTECH first applied for a patent application for a new technology in Japan, which is an important market, and then uses the Pre IP registration service* to prove the technology value that is globally accepted. *Pre IP registration service allows one to publicly prove their intellectual property (IP) by recording the claim of rights before applying for a patent on the blockchain.
From the viewpoint of intellectual property protection, the patent details and patent application number of the CROSSVALUE Chain will be announced together with the Pre IP registration service name after registration of the Pre IP registration service.
CROSSTECH will continue to develop new technologies that will be needed in the future and contribute to increasing the value of CROSSTECH (XCR).