The concept introduces an innovative, AI empowered technology for secured credit card management methods and systems
SAN DIEGO, Feb. 01, 2022 (GLOBE NEWSWIRE) — GBT Technologies Inc. (OTC PINK: GTCH) (“GBT” or the “Company”) filed with U.S. Patent and Trademark Office (“USPTO”) a non-provisional patent application for systems and methods of a financial software application for a secured, AI controlled credit card management system. The application was filed on January 26, 2022 and assigned serial number 17584427. The concept consists of a web and mobile application that are based on GBT’s patented database management method and empowered by its Artificial Intelligence technology. The goal of the patent application is to protect a software application concept that would automatically characterize and prioritize consolidation of different credit cards into one card, creating one large line of credit. The patent application seeks to protect intellectual property (IP) with the goal of evaluating the best financial aspects of each of the user’s credit card account and automatically select the user’s best card to be used. Among these aspects are lowest interest rates, membership fees, cash advances, line of credit, gift certificates and more reward programs. GBT believes that such system can be an efficient financial assistant for individuals and corporations, ensuring user’s best financial interests using credit systems. The company plans to expand its research and development in this domain during 2022.
“The credit card market world is wild today. There are numerous credit cards choices, each offers different interest rate, benefits and a wide variety of rewarding programs. It is a tricky task to decide which credit card to use and for which type of charges. We are in process of developing an AI controlled, credit card management system to automatically assist users with their credit cards transactions. The invention aims to automatically prioritize and characterize user’s credit cards according to their characteristics. The goal of the technology is to rank a user’s credit cards profile according to their attributes among them are interest rate, reward programs and similar. In turn, it is designed to use the one with the highest rank to execute the desired charge(s), constantly ensuring the user’s best financial interest. We filed a non-provisional patent to protect the concept of a smart “Financial Manager” that helps users with credit lines monetary decisions, always ensuring their best interest. We find this topic an intriguing opportunity for our technology to be implemented within the financial domain and intend to further explore its horizons in the near future,” stated Danny Rittman, GBT’s CTO.
There is no guarantee that the Company will be successful in researching, developing or implementing this system or that it will be granted the patent (or prior provisional patent). In order to successfully implement this system, the Company will need to raise adequate capital to support its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company will be successful in any or all of these critical steps.
GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.