OriginClear Files Patent Application to Simplify Water Treatment Payments Using Blockchain Technology & NFT.

Rhea-AI Summary

OriginClear Inc (OTC Pink: OCLN) announced the filing of a patent application titled “System And Method For Water Treatment Incentive”. This innovation leverages blockchain technology and NFTs to streamline payment distribution for outsourced water treatment services, billed on a pay-per-gallon basis, amid rising inflation. CEO Riggs Eckelberry emphasized the cumbersome nature of current payment processes and the potential of this technology to create a more efficient marketplace. The move aligns with increasing outsourcing trends in water management due to economic pressures.

Positive

• Patent application filed for blockchain-based payment system, potentially enhancing efficiency in water treatment services.
• Development of innovative solutions to address payment distribution challenges in the outsourced water treatment market.

Negative

• No assurance that the patent application will result in a granted patent.
• Company's history of losses necessitates raising additional financing to maintain operations.

OriginClear Inc. (OTC Pink: OCLN), The Water Company for the New Economy™, announces today that it recently filed “System And Method For Water Treatment Incentive”, a patent application for using blockchain technology and non-fungible tokens (NFT) to simplify the distribution of payments on outsourced water treatment and purification services billed on a pay-per-gallon basis ahead of inflation.

Using blockchain technology and non-fungible tokens (NFT) to simplify the distribution of payments on outsourced water treatment and purification services billed on a pay-per-gallon basis ahead of inflation. (Photo: Business Wire)

“We have learned that paying numerous parties in service-based water treatment is a cumbersome process that creates mislaid emails and human error,” said Riggs Eckelberry, OriginClear CEO. “We believe the use of blockchain technology and NFT can eliminate these problems and help enable an outsourced water treatment marketplace.”

The Company has begun the development process of using such blockchain technology and NFT, while also exploring other ways to resolve payment issues.

“Water is a risk that we expect smart managers will outsource, especially with worsening inflation,” said Riggs Eckelberry, OriginClear CEO. “Outsourcing through what we call Water on Demand™ could mean that these companies do not have to worry about the problem, either financing it or managing it.”

In fact, the Wall Street Journal this week reported that “everything screams inflation” and “investors are woefully unprepared for what may be a once-in-a-generation shift in the market.”

About OriginClear, Inc. OTC Pink: OCLN

Water is our planet’s most valuable resource, and the mission of OriginClear is to provide breakthrough products that effectively improve the quality of our planet’s waters by delivering the highest quality water to end-users. In just one decade, the global water services market has doubled into a trillion-dollar industry. And yet, 80% of all sewage in the world is never treated, and up to 35% of all drinking water is lost in transit. This calls for self-help solutions at the point of use, a movement known as decentralized water treatment. Our mission is to enable this decentralized water revolution by providing rapid deployment, and breakthrough technologies that help make clean water available for all.

For more information, visit the company’s website: www.OriginClear.com

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OriginClear Safe Harbor Statement:

Matters discussed in this release contain forward-looking statements. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.

These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable laws. There cannot be any assurance that the Company’s patent application will result in the granting of a patent.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210510005322/en/

FAQ

What is the latest patent application by OriginClear Inc (OCLN) about?

OriginClear has filed a patent application for a system using blockchain technology and NFTs to simplify payment processes in outsourced water treatment services.

How does OriginClear plan to address payment distribution issues in water treatment?

The company aims to utilize blockchain technology and NFTs to streamline the billing process, making it more efficient and less prone to errors.

Why is outsourcing water treatment becoming more relevant?

Outsourcing is seen as a viable option due to inflation concerns and the complexities involved in water management, prompting companies to seek more efficient solutions.

What are the risks associated with OriginClear's current business model?

The company faces risks related to its history of financial losses and the ongoing need for additional financing to support its operations.