Alphacon Signs a Technology Royalties License Agreement for ‘Autonomous Cryptocurrency Actual Usage Payment Service’

  • Patent application to reduce the negative effects of cryptocurrency price fluctuation
  • Patens usage agreement signed with Synco, a blockchain platform company
  • Problems with price fluctuations solved when paying with cryptocurrency
[Photo] Alphacon — Synco Technology Royalties License Agreement Signing. From the left, Synco CEO Eun Gyung Sohn, Alphacon Network Foundation CEO Siwon Hahm, Alphacon Network Foundation CSO Sean Ryu

The blockchain-based healthcare data platform company, Alphacon Network Foundation, has applied for a patent for its exclusive ‘Autonomous Cryptocurrency Actual Usage Payment Service’.

This technology has been applied to the Alphacon (ALP) payment system, which is currently in effect at medical institutions affiliated to Alphacon. It being rated as a groundbreaking cryptocurrency payment system in that it solves the biggest obstacle to the implementation of cryptocurrency payments systems by solving problems associated with cryptocurrency price fluctuation.

The ‘Autonomous Cryptocurrency Actual Usage Payment Service’ was developed to reduce the negative effects caused by the fluctuating value of cryptocurrency for use in real life by announcing a standard value. A change in the market price refers to the modification and announcement of the actual price of the service when the specified conditions are met. The actual use price can also be adjusted autonomously by affiliates, which can be applied to a variety of industries other than hospitals currently in use.

As the confusion due to price fluctuations is minimized, Alphacon holders can conveniently use the Alphacon cryptocurrency (ALP) instead of cash, as a new method of payment. In addition, Alphacon Network hospitals and Alphacon affiliates can generate sales through Alphacon marketing without having to incur separate advertising or marketing expenses.

The patent is a model granted to innovative management and marketing techniques that utilize information systems such as communication technology and the Internet, and has entered into a technology royalties license agreement with Synco, an expert blockchain platform company. This means that there is an increasing need for the offline use of Alphacon as well as other cryptocurrency.

Alphacon Network Foundation CEO Siwon Hahm stated, ”This patent application was conducted to get validation for Alphacon’s innovative payment system and to get a head start on Alphacon’s unique position. Starting with this patent application, we will continue to strive for more places to accept Alphacon for its convenient usage”.

Synco CEO Eun Gyung Sohn stated, “It is very meaningful that coin holders and franchisees sign a license contract to coexist and be useful in real life. Synco plans to grant real-life value to cryptocurrency and expand it nationwide by allowing users at coffee shops, and other places with lots of patrons to use Synco tokens.”

Currently, approximately 10 affiliate medical institutions in Korea accept Alphacon ALP as payment for services rendered; with plans to increase the number of affiliate medical institutions that ALP can be used for payment to over 300 nationwide within this year. In addition, Alphacon will expand its usage to both foreign and domestic healthcare businesses such as fitness centers, opticians, insurance companies, etc. In addition to expanding the use of Alphacon in the Korean market, Alphacon is also accelerating the use of Alphacon in overseas markets, starting with Southeast Asia, in order to facilitate the use of Alphacon instead of cash at offline locations in other counties beyond Korea.