BlackStar Enterprise Group, Inc. (BEGI) has received a ‘Notice of Allowance’ from the United States Patent and Trademark Office (USPTO) for a patent application titled “System and Method for Matching Orders and Immutable Blockchain Ledger for all Customer Trading Activity with Settlement into the Broker-Dealer Ecosystem.” This patent could revolutionize blockchain trading of digital securities.
What Does the Patent Do?
The patented technology enables the trading of common shares of a public company on a blockchain. Company shares can be traded on a decentralized network without a traditional broker or exchange. This could have a significant impact on the way that securities are traded in the future.
What is BDTPTM?
The patented software is called the BlackStar Digital Trading PlatformTM (BDTPTM). BDTPTM is designed for electronic fungible shares in book entry and is compliant with U.S. brokerage firms. This means that BDTPTM can trade shares of any company listed on a U.S. exchange.
Significance of this patent
This patent is significant because it is the first of its kind to enable the trading of common shares of a public company on a blockchain. This is a significant breakthrough for the blockchain industry, as it could revolutionize how securities are traded. The patent could also have a significant impact on the value of BEGI’s stock.
Potential Benefits of this Technology
There are several potential benefits of this technology. First, it could make it easier and more secure to trade securities. Second, it could reduce the costs of trading securities. Third, it could make it possible to trade securities in new and innovative ways.
What Does This Mean for BlackStar?
BlackStar’s CEO, Joseph E Kurczodyna, sees the potential for BDTPTM to revolutionize blockchain trading of digital securities. He believes the patent could give BlackStar a 20-year monopoly on digital equity trading of securities on a blockchain. The patent is expected to be issued in November 2023.
Future Insights
Once the patent is issued, BlackStar can start licensing its technology to other companies. The company is also planning to develop its blockchain-based trading platform.
Overall, this is a significant positive development for BlackStar Enterprise Group, Inc. The company is now well-positioned to capitalize on the growing interest in blockchain technology.
More information regarding the topic can be found in the Company’s recent filings on the SEC website, i.e., BLACKSTAR ENTERPRISE GROUP, INC.
SEC Disclaimer
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. This press release may contain forward-looking statements. The words or phrases “would be,” “will allow,” “intends to,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in BlackStar’s (“the Company’s”) business plan. The creation of subsidiaries and expansion of services into new sectors should not be construed as an indication in any way whatsoever of the future value of the Company’s common stock or its present or future financial condition. The Company’s filings may be accessed at the SEC’s Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
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