Significant New Patent issued to BlockSafe Technologies, a Subsidiary of StrikeForce Technologies, Inc.

Rhea-AI Summary

StrikeForce Technologies (OTCQB: SFOR) announced that its subsidiary, BlockSafe Technologies, received a new patent from the USPTO. This patent is seen as a significant advantage, facilitating connections between enterprise networks and blockchains. With the global blockchain market projected to reach $394.6 billion by 2028, StrikeForce is strategically positioned to benefit from this growth. The patent includes features such as a Blockchain Security Agent, authenticator, and policy engine, aiming to enhance security in blockchain applications. The company anticipates interest from major industry players.

Positive

• Awarded a new patent enhancing its intellectual property position.
• Strategic positioning in the growing blockchain market, projected to reach $394.6 billion by 2028.
• Patent features include advanced security solutions for blockchain applications.

Negative

• None.

EDISON, N.J., Oct. 12, 2021 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTCQB: SFOR), a cyber security company that provides next-gen cyber, privacy and data protection solutions for businesses, home users and blockchains, today announced that the United States Patent and Trademark Office (USPTO) has awarded a new patent to BlockSafe Technologies, a subsidiary of StrikeForce Technologies, Inc.

“We are extremely pleased to have been awarded this patent,” says Mark L. Kay, CEO of StrikeForce. “In my opinion it’s a game-changer. It embodies everything you would want in a patent; the claims are broad, comprehensive and it gives us, I believe, a major intellectual property advantage when connecting enterprise networks to blockchains, or, blockchains-to-blockchains.”

“The timing of this patent also couldn’t be any better,” says Kay. “In a recent report by Grand View Research, the global blockchain technology market size is expected to reach USD $394.6 billion by 2028 and it’s projected to expand at a CAGR of 82.4% from 2021 to 2028. And according to a Bloomberg report on Friday Oct 8, 2021, the Federal Government is now considering an executive order to require federal agencies to study the crypto industry and provide recommendations on their oversight.”

“Additionally, we believe that there’s a pretty aggressive landgrab underway for Blockchain & Crypto patents,” says Kay, “with companies like IBM, Dell, Bank of America, Mastercard, & Intel all increasing the value of their corporate assets by owning blockchain and crypto related patents. Strategically, this new patent also positions our company at the intersection of blockchains, corporate networks and cyber security. Check out some of the features of our patent below:”

U.S. Patent No 11146555 “Systems and Methods for Controlling Access to a Blockchain”. The invention is comprised of the below modules:

• The Blockchain Security Agent acts like a firewall between a crypto/blockchain application and the blockchain.

• The Authenticator authenticates the sender of the message. It supports multiple authentication methods.

• The Rules Engine stores rules pertaining to access. For example, a rule may be that any transaction that uploads a smart contract needs to be authenticated.

• The Policy Engine stores user access policies for the blockchain. It defines user roles and maps the roles to capabilities.

• The Enterprise Interface interfaces to enterprise software such as ERP, CRM, and others known in the art. The Enterprise Interface is comprised of modules for interacting with third-party software.

• The Content Scanner scans a received message for malicious content because the data portion of a transaction may carry unknown data that may be dangerous to a network, including malware or other malicious programs.  

• The Blockchain Interface interfaces to other blockchains. The interface is comprised of modules for linking to one or more blockchains.
  

“Blockchain, in our opinion, is revolutionizing banking, financial markets, supply chains, shipping & payment industries to mention just a few areas of the global economy. It’s very exciting to know that our patent sits at the center of it all. We expect that a lot of these industry giants will be reaching out to us to understand how they can work with us once they learn how important our patent is to the world of blockchain,” says George Waller, CEO of BlockSafe.

About StrikeForce Technologies Inc.
StrikeForce Technologies helps to prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication, keystroke encryption along with mobile solutions. StrikeForce Technologies, Inc. (OTCQB:SFOR) is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or by phone at (732) 661-9641 or toll-free at (866) 787-4542.

Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press 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: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the Company's pending patent applications, COVID-19, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the company.

StrikeForce Contact Info:
Mark L. Kay, CEO
marklkay@strikeforcetech.com
(732) 661-9641

BlockSafe Technologies Contact Info:
George Waller, CEO
gwaller@blocksafetech.com
(732) 661-9641

FAQ

What is the significance of the new patent awarded to StrikeForce Technologies?

The patent provides a major intellectual property advantage in connecting enterprise networks to blockchains.

What are the key features of StrikeForce's patent?

Key features include a Blockchain Security Agent, authenticator, rules engine, policy engine, enterprise interface, content scanner, and blockchain interface.

How is the blockchain market expected to grow according to StrikeForce?

The global blockchain technology market is projected to reach USD $394.6 billion by 2028 with a CAGR of 82.4% from 2021 to 2028.

What companies are increasing their blockchain and crypto patents?

Companies like IBM, Dell, Bank of America, Mastercard, and Intel are actively acquiring blockchain and crypto patents.

What industry impact does StrikeForce expect from its new patent?

StrikeForce anticipates significant interest from industry giants seeking partnerships due to the strategic importance of their patent.