Business
North Peak Resources Announces the Sale of its Blockchain Patents to Helix Applications Inc.
North Peak Resources Announces the Sale of its Blockchain Patents to Helix Applications I...
About this update from North Peak Resources Ltd
[{"type":"text","content":"\n \n \n \n North Peak Resources Announces the Sale of its Blockchain Patents to Helix Applications Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n [email protected]\n \n \n \n www.northpeakresources.com\n \n \n TSX Venture: NPR\n \n \n \n \n CALGARY, AB\n \n ,\n \n Feb. 24, 2021\n \n /CNW/ -\n \n NORTH PEAK RESOURCES LTD.\n \n (TSXV: NPR) (the \"\n \n Company\n \n \" or \"\n \n North Peak\n \n \") is pleased to announce it has agreed to sell its four (4)\n \n United States\n \n issued patents, ongoing related patent applications in\n \n China\n \n and related development work to Helix Applications Inc. (\"\n \n Helix\n \n \") (TSXV: HELX).  North Peak prepared and applied for these patents prior to its current status as mining company, as part of a broader application for the technology it was developing at the time within the blockchain sector.\n \n \n As part of the transaction, North Peak will receive a\n \n CAD$150,000\n \n cash payment and a 5% royalty on any profits generated by Helix and its affiliates from any commercial applications derived from the patents that Helix may develop as it seeks to evaluate the growing interest in the networks of digital token economics.\n \n \n The transaction includes the following patents:\n \n \n \n \n Chain Joining\n \n -\n \n (\n \n Patent Number: US 10,764,034) - issued on\n \n September 1, 2020\n \n , relating to the method and system for facilitation data transfer between blockchains.  This allows secure sharing of application data between different blockchains that run applications (\"application blockchains\"). Before chain joining, to securely share data using blockchain, multiple nodes had to be part of the same chain and/or the data had to be encrypted, which is not always desirable.\n \n \n \n \n \n Hyperconvergence\n \n – (Patent Number: US 10,740,139) - issued on\n \n August 11\n \n 2020, relating to the method and system for performing hyperconvergence using blockchains, providing lightness and flexibility. Hyperconvergence allows a singl...