Datavault AI (NASDAQ: DVLT) announced that the U.S. Patent and Trademark Office has issued a Notice of Allowance for all 24 claims in its patent application covering blockchain-based methods and systems designed to detect and mitigate naked and excessive short selling through tokenized dividend distribution. The allowed claims include technologies for issuing digital dividend tokens on a distributed ledger, reconciling token issuance with reported share positions to identify settlement discrepancies, automating settlement and share recalls, supporting CUSIP reclassification, and providing real-time reporting and audit capabilities. The company said the intellectual property expands its blockchain and tokenization portfolio while creating potential licensing opportunities for exchanges, transfer agents, broker-dealers, custodians, issuers and digital asset platforms.
To view the full press release, visit https://ibn.fm/Ce5bf
About Datavault AI Inc.
Datavault AI(TM) is leading the way in AI-driven data experiences, valuation and monetization of assets in the Web 3.0 environment. The Company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Sciences and Data Sciences divisions.
In brief
Datavault AI Inc. says the U.S. Patent and Trademark Office issued a Notice of Allowance covering all 24 claims in its application for blockchain-based methods intended to detect and address naked and excessive short selling. The proposed system uses tokenized dividend distribution and includes digital tokens recorded on a distributed ledger, comparisons between token issuance and reported share positions, and tools for settlement, share recalls, CUSIP reclassification, reporting and audits. The company says the allowed claims expand its blockchain and tokenization intellectual property portfolio and could support licensing to market participants such as exchanges, transfer agents, broker-dealers, custodians, issuers and digital asset platforms. The release does not provide details on a granted patent or any licensing agreements.
Key takeaways
- The USPTO issued a Notice of Allowance for all 24 claims in Datavault AI’s patent application.
- The application covers blockchain-based systems using tokenized dividends to detect and address certain short-selling activity.
- Claimed functions include position reconciliation, settlement automation, share recalls, CUSIP reclassification and reporting.
- The company says the intellectual property could create licensing opportunities for several financial-market participants.
Datavault AI’s Acoustic Sciences division features WiSA(R), ADIO(R) and Sumerian(R) patented technologies and industry-first foundational spatial and multichannel wireless, high-definition sound transmission technologies with intellectual property covering audio timing, synchronization and multi-channel interference cancellation. The Data Science division leverages the power of Web 3.0 and high-performance computing to provide solutions for experiential data perception, valuation and secure monetization.
Datavault AI’s platform serves multiple industries, including high-performance computing software licensing for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, energy and more. The Information Data Exchange(R) enables Digital Twins and the licensing of name, image and likeness by securely attaching physical real-world objects to immutable metadata, fostering responsible AI with integrity. The Company’s technology suite is fully customizable and offers AI- and machine-learning-based automation, third-party integration, detailed analytics and data, marketing automation and advertising monitoring.
The Company is headquartered in Philadelphia, PA. Learn more about Datavault AI at https://dvlt.ai.
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Questions around this news
What does Datavault AI’s patent application cover?
The application concerns blockchain-based methods intended to detect and address naked and excessive short selling using tokenized dividend distribution. The allowed claims describe issuing dividend tokens on a distributed ledger, comparing token issuance with reported share positions, and using discrepancies to identify settlement issues. They also cover automated settlement and share recalls, CUSIP reclassification, and reporting and audit functions.
What does a USPTO Notice of Allowance mean?
A Notice of Allowance indicates that the U.S. Patent and Trademark Office has determined that patent claims in an application are allowable. It is a step in the patent process, not itself the same as an issued patent. The applicant generally must complete the remaining procedural requirements before a patent is granted.
What licensing opportunities does the company identify?
The company says the intellectual property could create licensing opportunities for organizations including exchanges, transfer agents, broker-dealers, custodians, issuers, and digital asset platforms. The release does not identify any licensing agreements, partners, or terms; it describes these opportunities as potential outcomes of the patent-related intellectual property.
How could tokenized dividends help identify settlement discrepancies?
The approach described in the release involves issuing digital dividend tokens on a distributed ledger and comparing that issuance with reported share positions. A mismatch could be flagged as a settlement discrepancy. The allowed claims also include capabilities for automating settlement and share recalls, alongside reporting and audit functions.
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