Financial software developer Intuit has been awarded a patent for processing BTC payments via SMS and we’ve covered the details in today’s edition of Bitcoin in Brief. Also in The Daily, Brave browser plans to enable BAT tips for tweets and Reddit posts, cryptocurrency is projected to constitute 5 percent of the portfolios of US investors next year, and in Thailand, a famous actor has been arrested for an alleged crypto investment fraud.
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Intuit Awarded Patent for BTC Payments via SMS
California-based company Intuit, a financial software developer, has been awarded a patent for processing bitcoin core (BTC) payments via text messages (SMS), according to a filing published by the US Patent and Trademark Office on August 7. The patent that outlines a system to transfer BTC funds by sending text messages on smartphones was filed back in 2014. According to its abstract:
The method includes receiving, by a payment service, a payment text message comprising a payment amount and an identifier of a payee mobile device, validating the payment text message based on a payer balance of a virtual payer account maintained by the payment service for the payer […] transferring, in response to creating the virtual payee account, the payment amount from the virtual payer account to the virtual payee account […].
Despite the prolonged consideration of the patent application, Intuit has been continuously developing its crypto-cash payment solutions in the meantime. Earlier, the company announced it had reached a partnership agreement with the payment provider Veem to build a system for processing international cryptocurrency payments.
Brave Browser to Enable Tips for Tweets and Posts
Brave, the privacy-oriented web browser that supports opt-in ads
