SAN DIEGO, Calif., Nov. 22, 2022 (GLOBE NEWSWIRE) — GBT Technologies Inc. (OTC PINK: GTCH) (“GBT” or the “Company”) is evaluating the implementation of its intelligent financial and database management technologies for social media applications. GBT’s AI driven, credit cards management systems may be an efficient candidate to be used within social media and entertainment applications due to its financial benefits characteristics. The technology consists of a smart system to analyze and process credit cards in the most advantageous way for its user. Transactions are monitored, tracked and secured by an artificial intelligence engine to ensure efficiency, user’s highest financial benefit and future planning.
The technology will be evaluated within web and mobile applications that are based on GBT’s patented database management method and is specifically tailored for social media applications. GBT’s patented, database management methods are designed to ensure superior cybersecurity measures for the assessed mobile and web applications. The application’s financial transactions will be supervised according to their characteristics, user’s best interest and lines of credit. GBT plans to evaluate its patented database management system to implement a blockchain operation, with the goal of creating a robust cybersecurity measure. GBT’s database sharing is planned to protect against data theft and ensuring user’s privacy. GBT plans to evaluate the usage of tokens, coins and other common media application financial mediums to work in conjunction with its technology. GBT targets to evaluate its intelligent financial system as an efficient, highly secured, monetary assistant within social and entertainment mobile and web application ensuring user’s best interest with a robust security.
“In today’s social media and entertainment world, financial transactions are an integral task of our daily operations. If it’s placing an electronic ad, purchasing digital tokens or buying a piece of artwork, we are performing entertainment related financial transactions daily. There are numerous credit cards, banks and other monetary oriented transactions executed within mobile and web applications, every second, worldwide. We decided to evaluate our intelligent financial IP and database management technologies with the goal of creating an efficient, highly secured monetary system especially tailored for social media and entertainment applications. We plan to assess these technologies in a wide range of applications including high resolution graphics, gaming and media. Our AI controlled, financial transaction management system is targeted to automatically assist users with their monetary decisions and security by monitoring the user’s accounts and selecting the best debit choice according to the transaction’s characteristics at that time.
The system will learn the user’s financial transaction’s pattern and his/her lines of credit characteristics, and rank them according to their financial attributes. When a transaction will be needed to be executed, the system will select the best card, bank account or other monetary method to be used according to its rank, ensuring the user’s best financial interest. Our patented database sharing and management system will ensure a robust level of cybersecurity via blockchain and segmentation techniques. GBT’s Artificial Intelligence technology is aimed to be used to empower the entire system ensuring fast performance and robust security. The purpose of our evaluation is to assess the implementation of our financial and database technologies, to create a personal, secured financial system, particularly designed for social media and entertainment with the goal of offering best payment method choice, fast and highly secured,” stated Danny Rittman, GBT’s CTO.
There is no guarantee that the Company will be successful in researching, developing or implementing this system or that it will be granted the patent (or prior provisional patent). In order to successfully implement this system, the Company will need to raise adequate capital to support its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company will be successful in any or all of these critical steps.
GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices, thus providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.
Dr. Danny Rittman, CTO