Bullet Blockchain, Inc. (OTC: BULT) a diversified software development and software as a service (SaaS) company, which specializes in blockchain technologies and Web 3.0. The Company, through its wholly owned subsidiary, First Bitcoin Capital, LLC (FBC), is the owner and licensor of two Bitcoin (BTC/XBT) ATM patents.
Reflecting on Bitcoin's (BTC/XBT) resurgence, saw a remarkable climb from $16,605 on January 1, 2023, to a closing value of $43,402 on December 7, 2023, marking a staggering 161.38% year-to-date increase.
Bullet Blockchain's ownership of Bitcoin (BTC/XBT) ATM patents gains added significance. The company holds exclusive rights to the patent titled "Bitcoin Kiosk/ATM Device and System Integrating Enrolment Protocol and Method of Using the Same," identified as United States Patent Number 9,135,787. These rights are vested in Bullet Blockchain through its wholly-owned subsidiary, First Bitcoin Capital LLC.
The mentioned patent relates to cryptocurrency transactions facilitated by a kiosk or Bitcoin (BTC/XBT) ATM, allowing customers to purchase Bitcoin (BTC/XBT) and other cryptocurrencies using credit cards, debit cards, or cash. Additionally, the company, through its subsidiary First Bitcoin Capital, possesses another patent, United States Patent Number 1033220581, titled "Bitcoin Kiosk/ATM Device and System and Method of Using the Same," covering the kiosks themselves. Combining both patents is essential for the seamless operation of Bitcoin (BTC/XBT) ATM machines and their associated networks.
On November 8, the spotlight turned toward the company following an announcement regarding a significant achievement in its patent portfolio. Bullet Blockchain revealed the successful completion of its inaugural patent royalty and licensing agreement with a Bitcoin (BTC/XBT) ATM operating entity. Moreover, the company received its initial payment as stipulated in the agreement.
The company further revealed the introduction of several customized licensing programs designed specifically for manufacturers of Bitcoin (BTC/XBT) ATMs. These programs encompass elements such as revenue sharing, partner initiatives, and licensing fees based on transactions. The press release highlighted that First Bitcoin persisted in addressing the business dealings of unlicensed Bitcoin ATM operators, despite being in contravention of the company's intellectual property portfolio for Bitcoin ATMs.
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