CityLabs Simultaneously Acquires Four Patents Including Blockchain DID System
[Asia Economy Reporter Jang Hyowon] Citylabs, a KOSDAQ-listed company, announced on the 16th that it has simultaneously acquired a total of four patents, including one blockchain technology patent related to decentralized identity verification (DID) and three technologies utilizing multiple nodes.
The patents acquired by Citylabs include ▲a user authentication system that performs user authentication by integrating multiple blockchains into a single MiddleBlock ▲a content transmission method and device at a core node considering the user's expected disembarkation point ▲a content transmission device at a core node that controls multiple edge nodes based on the user's preferred content ▲a content transmission method and device that transmits extracted user-preferred content to multiple edge nodes using a reinforcement learning module. These four patents pertain to blockchain decentralized identity verification (DID) and technologies supporting smooth communication among multiple nodes in a hyperconnected smart city.
Based on the blockchain technology capabilities secured so far, the company plans to further strengthen its technological competitiveness related to its recent entry into the blockchain-based gaming business utilizing NFTs and other assets.
In particular, regarding the blockchain technology patents acquired today, the company expects that various services such as mobile games and platforms will be able to use various blockchain platforms through APIs for decentralized identity verification (DID) provided by Citylabs’ self-developed ‘MiddleBlock,’ facilitating business expansion.
Citylabs CEO Cho Youngjoong stated, “As this is our first attempt in the gaming business, separate from the familiar blockchain industry, we will recruit experts and create good opportunities through publishing structures across various scopes.”
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Meanwhile, CEO Cho also gave a positive response to some shareholders’ concerns about the recent exercise of conversion rights on Citylabs’ convertible bonds. He said, “Investors such as Daol Global, who recently exercised their conversion rights, have shown positive evaluations of Citylabs’ business situation, and we have mutually agreed to maintain partnerships from a mid- to long-term perspective.”
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