Bullet Blockchain Completes the Acquisition of the IP Portfolio Consisting of Bitcoin ATM Patents; Will Proceed With Licensing to the Industry

RENO, NV, Nov. 14, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Bullet Blockchain, Inc. (“BULT” or the “Company”), (OTCM: BULT), an advanced software development and SaaS company, specializing in blockchain technologies and Web 3.0, announced today that BULT acquired a wholly owned subsidiary from BOTS Inc., which holds the rights to U.S. Patent No. 9,135,787 – “Bitcoin Kiosk / ATM Device and System Integrating Enrollment Protocol and Method of Using the Same.” Known as the “Bitcoin ATM Patent,” this patent is related to the purchase and sale of cryptocurrencies utilizing a Bitcoin ATM or kiosk, giving customers the ability to purchase Bitcoin or other cryptocurrencies using cash, debit cards, or credit cards.

Many elements of intellectual property (IP) will be “standard-essential claims.” The acquired IP portfolio also includes a licensing agreement for U.S Patent No. 10,332,205 B1 (Bitcoin kiosk/ATM device and system and method of using the same). The combined patents acquired by BULT are critical for Bitcoin ATM networks to operate.

Acquiring the Bitcoin ATM Patent allows BULT to proceed with several coveted licensing agreements for the Bitcoin ATM industry. These licenses include the manufacturers of Bitcoin ATMs and top owner-operators. BULT will also look to introduce several licensing programs for Bitcoin ATM manufacturers, which will include a per-transaction licensing fee, revenue share, or partner program with owner-operators.

According to Coin ATM Radar, the US leads the world in the number of installed Bitcoin ATMs: reported to be over 34,119 nationwide. (source: Coin ATM Radar: https://coinatmradar.com).

Furthermore, according to Coin ATM Radar, the Top 10 operators run 26,192 crypto ATMs (77.3%) in the US. (source: Coin ATM Radar: https://coinatmradar.com/charts/top-operators/united-states/).

A recent research report was written by Grand View Research titled “Crypto ATM Market Size, Share & Trends Analysis Report By Type (One Way, Two Way), By Offering, By Coin Type (Bitcoin, Dogecoin, Ethereum, Litecoin), By Application, By Region, And Segment Forecasts, 2022 – 2030” indicated that the “global crypto ATM market size was valued at USD 75.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 61.7% from 2022 to 2030.” The research report indicates that “Crypto ATMs allow customers to transfer money abroad without the need for a bank account, it also enables users to convert cryptocurrency into fiat currency and allows for cash withdrawal through ATM machines. Furthermore, the legalization of cryptocurrency across several countries is also one of the major factors that bode well with the growth of the cryptocurrency ATM market.” (source: Global Crypto ATM Market Size & Share Analysis Report, 2030 (grandviewresearch.com )

BULT will continue its efforts to develop the first worldwide Bitcoin ATM network and consortium.

For travelers, this is especially convenient when traveling abroad, where Bitcoin ATMs may be more widely available. As a business function, by linking operators together, a Bitcoin ATM network and the consortium will effectively deliver buying and selling services (conducive to cryptocurrency) to end users much more efficiently, which would contribute to increased values. For example, the value of a cellular telephone network to customers increases with the number of customers that can be reached via the global network. Similarly, Bitcoin ATM networks will seek to link together Bitcoin ATMs in various locations, giving the customers of each operator greater access to their crypto accounts.

For more information, please visit www.BulletBlockchain.com

About Bullet Blockchain

Headquartered in Reno, Nevada, Bullet Blockchain Inc. – stock is publicly traded on the OTC Markets under the symbol (BULT) – is a diversified software development and SaaS company, specializing in blockchain technologies and Web 3.0. BULT is committed to driving the innovations needed to shape the future of digital and blockchain-related platforms through digital technology and decentralized blockchain solutions. Management is dedicated to strong growth and increasing the shareholders’ value.

Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our OTC Markets’ disclosures, press releases, public conference calls, and webcasts. We also use social media to communicate with our email subscribers and the public about BULT, services, and other related information. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in BULT to review the information we post on BULT’s social media channels listed below. This list may be updated from time to time.

Follow us at:

Find BULT news at http://www.BulletBlockchain.com

Follow BULT news on Twitter @ BULT_stock

Follow BULT on Reddit @ https://www.reddit.com/r/BULT/

Follow BULT on Facebook @ https://www.facebook.com/BulletBlockchainInc/

Follow BULT on LinkedIn @ www.linkedin.com/in/bullet-blockchain-inc

For investor and general information, please email contact@BulletBlockchain.com

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. 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, and governmental and public policy changes. 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 at some point in the future however, 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. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking.

Contact: contact@BulletBlockchain.com

This news is republished from another source. You can check the original article here