CoupDog has been granted an key patent from the US Patent Office (USPTO) for our innovative application of Blockchain technology in solving the security and fraud protection challenges in the coupon and promotion industry.
The Patent issues is No. US 11,004,191, titled “COUPON SYSTEM AND METHODS USING A BLOCKCHAIN” and was granted on May 11, 2021.
Some key areas the patent covers are:
How SmartCoupon tokens are created and stored on the Blockchain
The key components of a SmartCoupon including how the purchase requirements for consumers are defined (the ‘Business Rules’) and the value of the reward for consumers is defined (the ‘Unit Value’)
How these SmartCoupons are retrieved by POS systems, electronically validated and then redeemed so that Retailers can be reimbursed by Retailers
Details on the Patent may be found here.