Social Good Foundation Inc. Acquires Patent for Mechanism to Accumulate Cryptoassets by Using Credit Cards and Smartphone Payments

Jun 10th, 2020 09:00 AM Pacific Daylight Time

Social Good Foundation Inc. Acquires Patent for Mechanism to Accumulate Cryptoassets by Using Credit Cards and Smartphone Payments

The Social Good Foundation Inc. (Location: Tokyo, Japan, Soichiro Takaoka, Chief Executive Officer, herein referred to as SGF) is pleased to announce the approval of their blockchain-related patent in Japan for a "mechanism to return to users cryptoassets by receiving purchase amount information from credit card details and smartphone payment data" (Patent No. 6635536).

By collaborating with credit card companies and smartphone payment operators in advance, the SGF is able to automatically transfer cryptoassets back to everyone who makes purchases with a particular card/smartphone payment method (and it’s also possible to filter such information by applicable shops, products, and audiences). Plus, they have secured partnerships with over 1,600 retailers in Japan and over 260 large international retail businesses (major shopping sites, etc.) as of the end of May 2020. Now, with this recent patent approval, they plan to start providing services in Japan.

Additionally, international patents have already been applied for, and preparations are underway to obtain patents in the U.S.A., China, the EU, India, Southeast Asia, and other countries around the world. Along with developing their own services at the SGF, at which they are at the forefront, they are also planning to provide “license permits” to point return/point rewards companies, credit card/smartphone payment operators, major platform businesses, and major e-commerce businesses in each of the various countries.

For details regarding license approval, etc., please contact us here.

Press Release
SocialGood Patents Mechanism to Accumulate Cryptoassets by Using Credit Cards and Smartphone Payments