Glance Technologies Inc. (“Glance” or the “Company”) (CNSX:GET-CN.CN) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce that it has filed a provisional patent application with the United States Patent and Trademark Office directed at methods, systems and techniques for cryptographic token transfers.
This patent application is for a foundational technology to lower costs and improve speed and efficiency of cryptocurrency transactions, even where the value of the transaction may be relatively small, as well as to facilitate converting between cryptocurrencies whose transactions are recorded on different blockchains. It also facilitates storing information of different sensitivity levels on differently permissioned blockchains, which can be useful when privacy is important.
Desmond Griffin, CEO of Glance, says “some of the current barriers to adopting cryptocurrencies for everyday payments are high costs per transaction for small value transactions, slow speed of execution when trying to pay in real time, and potential disclosure of more information than may be desired from a user. This patent application proposes various technological solutions that can be used to solve these problems. The aim for Glance is to make cryptocurrency payments practical for day-to-day payment situations.”
Glance believes that blockchain and cryptocurrencies are fundamentally transformative technologies, providing significant opportunities for the early pioneers in this space. In addition to facilitating cryptocurrency transactions, the technology described in this patent application is applicable to the Glance Coin loyalty reward token that will allow Glance merchants to reward and provide deals and incentives to customers.
About Glance Technologies Inc.
Glance Technologies is the owner of Glance Pay and Glance PayMe, a pair of complementary smartphone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.
For more information about Glance, please go to www.glance.tech.
For more information, contact:
VP Business Development
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “may”, “believe”, “thinks”, “expect”, “exploring”, “expand”, “could”, “anticipate”, “intend”, “estimate”, “plan”, “pursue”, “potentially”, “projected”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of Glance’s business strategies and its expectations concerning future operations, the Company’s ability to receive approval for patent applications and that the technology described in the patent will be applicable to the Glance Coin loyalty reward token. Although Glance considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among other things, risks that Glance’s patent applications may not be approved and risks related to the development of the Glance Coin loyalty reward token, including risks that Glance’s technology will not lower costs and improve speedy and efficiency of cryptocurrency transactions or allow for disclosure of different levels of communication of information. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form and Prospectus of Glance, which may be accessed through Glance’s profile on SEDAR at www.sedar.com. Glance cautions investors that any forward-looking information provided by Glance is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
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