Money Token applied to patent Cryptocurrency Backed Loans technology
- Patent application date: December 21, 2017
- Registered inventor: Jerome MacGillivray
The patent materials will be published on the WIPO website around June/July 2019. We`ll post updates via our social media.
Patent application and confirmation from WIPO are attached below.
No royalties or any kind of legal claims will be applied
We see a lot of projects out there developing blockchain-backed lending models, and we want to patent this concept to actually protect it. Protect the idea of crypto backed lending from any centralized attempt to monopolize it.
“We recognise that there are a number of projects out there in the cryptocurrency and blockchain space that are currently developing blockchain-backed lending models. The MoneyToken’s application to patent this technology isn’t about stifling competition or restricting the freedom to develop similar solutions within the community — far from it — our intention is to protect these concepts and projects from any centralised monopoly.
Our aim is to preserve crypto-backed lending as a concept for all our friends and enthusiasts — we want the market to develop the perfect model, because we believe this is something the community needs to be able grow as an ecosystem for all” — Jerome MacGillivray, co-founder of MoneyToken.com
A lot of individuals are currently holding their assets — we want assets to work for their holders, not just from growing demand and increasing mining difficulty, but through the development of the cryptocurrency ecosystem.
With MoneyToken’s unique technology solution, crypto holders gain the opportunity to maintain their cryptocurrency asset positions while receiving stable spendable funding in return, enabling them to hold onto their investments.
The MoneyToken ecosystem includes:
- A cryptocurrency-backed lending platform.
- The MoneyToken stablecoin.
- The MoneyToken exchange service.
We`ve set the MoneyToken launch to early 2018, with a Token Generation Event appointed to start simultaneously with the platform launch dates.