Replies to post #108594 on Bots Inc (BTZI)

[lesgetrich]

how will they enforce the patent and who will they send to enforce it?

Patents are enforced just like any other legal contract. They've hired a law firm to go after the companies. If they refuse to pay they're taken to court. If they lose, they either pay up or their assets are seized by court order. BTZI is using a carrot and stick approach by dangling membership in an ATM network as an incentive to pay up. Note that there are roughly 5,000 more US ATM's deployed today than there were just four months ago...

BOTS INC RETAINS PRESTIGIOUS PATENT LAW FIRM TO HANDLE BITCOIN ATM PATENTS AND OTHER BLOCKCHAIN TECHNOLOGIES

SAN JUAN, PUERTO RICO, Jan. 04, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI), an emerging innovator of products, technologies, and services for the rapidly growing digital robotic automation, blockchain technologies and manufacturing industry announced today that it has retained the services of the prestigious New York, USA and Swiss-based law firm of Henry Park to handle its intellectual property matters.

The Company owns the first “Bitcoin ATM “patent and is actively looking to acquire or license additional Bitcoin related patents. The primary attorney on the BOTS’ account is Joe DiDonado, Esq.

Mr. DiDonato's practice concentrates on matters related to intellectual property and gaming as many issues overlap between these two practice areas. Relying on his experience in corporate transactions regarding intellectual property and gaming and his knowledge of the substantive laws and rules of both areas, Mr. DiDonato provides practical legal advice that considers both the business plan and the protection of products and services.

The price of bitcoin surged past the $34,000 mark at the beginning of 2021 -a new all-time-high and this latest milestone follows the 2020 surges that accelerated during the COVID-19 pandemic. The new high took bitcoin’s market cap to two-thirds of a trillion dollars.

Bitcoin.com recently published a report: Blockchain Patents 'Skyrocket' in 2020, Alibaba Owns the Most Crypto Patents -indicated that a study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent holder in 2020 capturing 10x the number of patents held by IBM. The report notes that blockchain patents “are skyrocketing” this year and so far in 2020, there’s been more distributed ledger technology and cryptocurrency patents published than all of 2019. It seems distributed ledger technology and cryptocurrency solution patents are becoming a thing again in 2020. A few years ago various reports said that Bank of America (BoA) and the firm Nchain were gobbling up all the patents applied to digital assets and blockchain technology.

Paul Rosenberg, BOTS Inc’s CEO stated, "We are excited to have Joseph's intellectual property experience in guiding us in protecting our valuable Bitcoin ATM intellectual properties. We are actively looking to acquire or license and develop additional Bitcoin related intellectual property and currently are negotiating to license additional patents in this space.”

As previously announced: BTZI is the founder of the First Worldwide Bitcoin ATM consortium or network, blockchain-powered computer network that will enable Bitcoin ATM customer wallets issued by a Bitcoin ATM operator that will be a member of the network to be used to perform Bitcoin ATM transactions through ATMs that belong to another operator of the network. This is especially convenient when traveling abroad, where Bitcoin ATMs may be widely available. A network is a common way of delivering buying or selling cryptocurrency services that increase the network value by linking many operators together. 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 link together Bitcoin ATMs in various locations, giving the customers of each operator greater access to their crypto accounts.

According to CoinATMradar.com, as of January 2021, there were over 11,400 Bitcoin ATMs installed in the USA. Average Bitcoin ATM kiosk processes 130-180 transactions monthly. This translates into $18-20 Million as potential income for the Company per year.

What Is Bitcoin (BTC)?

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people named, “Satoshi Nakamoto.” It was launched soon after, in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words -to allow “online payments to be sent directly from one party to another without going through a financial institution.”

Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.