VANCOUVER, April 2, 2020 /CNW/ - TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ | OTCQB:SQRMF) ("TAAL" or the "Company") announces that its operating subsidiary has filed a patent application (the "Patent") with the United Kingdom patent office, an important step in realizing the Company's strategic vision and in leveraging the power of blockchain infrastructure technologies in applications for transaction processing for general computational tasks.
New United Kingdom National Patent Application
TAAL Technology SEZC
TAAL Technology SEZC
31 March 2020
Method and Device for Generating Random Numbers
TAAL believes that the computational power being deployed in data centres, commonly known as 'mining farms', can be leveraged for other complementary purposes, apart from generating blocks and securing the blockchain.
This Patent deals with the generation of a significant stream of high-quality random numbers which has, in the past, been cumbersome and expensive due to the need for random environmental inputs.
In turn, these high-quality random numbers have multiple use-cases, including complex and advanced computational applications, such as artificial intelligence (AI) modelling scenarios within scientific, medical tracking and research and financial computer simulations that are in high demand. TAAL believes that, via this method, it can deliver an improved environment and random inputs to advanced users of computer-based simulations and AI systems.
The Patent's technology is fundamental to TAAL's strategic goal and vision for blockchain infrastructure and enterprise services, particularly its view that Bitcoin SV technology can be used for value-added applications outside of traditional transaction processing and payments use-cases.
Jerry Chan, CEO
About TAAL Distributed Information Technologies Inc.
TAAL is a Canadian based technology company leading in enterprise scale blockchain based information management and security through Bitcoin SV and other SHA-256 based digital asset platforms.
The CSE accepts no responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes "forward-looking information" as defined under applicable Canadian securities legislation. Forward‐looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action, statements with respect to the anticipated benefits, if any, effects, performance, capabilities or importance to TAAL or otherwise of, including with respect to the effects on, and of the capabilities of, the Bitcoin SV blockchain and the blockchain industry, statements with respect to the Patent generally (including use and applications therefor), regulatory approval of the Patent (including timing thereof), the anticipated effects of the Patent on the Company, if granted, statements with respect to 'mining farms' (including applications therefor) and statements with respect to TAAL's strategic goal and vision generally, if realized and, in certain cases, can be identified by the use of words such as "expects", or variations of such words and phrases or statements that certain actions, events or results "may" or "will", or the negative forms of any of these words and other similar expressions.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV and other digital assets and risks related to information processing using those platforms, integration issues, personnel and staffing requirements, technological change and obsolescence and risks that the Company is unable to obtain and/or maintain the necessary intellectual property rights needed to carry out future business activities. Actual results and future events and actions could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. TAAL disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE TAAL Distributed Information Technologies Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2020/02/c8403.html