Knoxville, Tennessee, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Healthcare Integrated Technologies, Inc. (“HiTC”), a leading innovator of healthcare technology solutions, is proud to announce the issuance of its second United States patent number 11,866,950, on January 30, 2024. The patent is titled "System and Method for Assessing and Verifying the Validity of a Transaction." The patent underscores HiTC’s commitment to pioneering solutions for transaction verification and compliance monitoring across various industries.
This groundbreaking technology offers a robust framework for validating transactions through an intricate system of sensors and artificial intelligence (AI). By gathering and analyzing data from multiple sources, including sensor inputs and human-provided information, the system ensures the integrity and compliance of transactions with established terms. This method is particularly relevant in scenarios where the verification of compliance to agreed-upon terms or norms is critical.
Kenneth M. Greenwood, Scott Michael Boruff, and Jurgen Vollrath, the inventors behind this revolutionary patent, have developed an AI-powered algorithm capable of detecting anomalies and validating transaction compliance over time. The system not only enhances the security and reliability of transactions but also supports emergency situation identification and response, thereby significantly mitigating risks.
"We are thrilled to receive this patent, which represents a significant milestone in our journey to enhance transaction security and compliance verification," said Scott Michael Boruff, CEO of HiTC. "Our innovative approach, combining sensor data with AI analysis, sets a new standard in the industry. This patent is a testament to our team's dedication and ingenuity, and we are excited about the potential impacts of our technology on improving transactional integrity across sectors."
The patent for the "System and Method for Assessing and Verifying the Validity of a Transaction" is part of HiTC's expanding portfolio of intellectual property that aims to revolutionize how transactions are monitored and verified, ensuring compliance and enhancing safety in critical situations.
About Healthcare Integrated Technology Inc.
Healthcare Integrated Technologies, Inc. (OTCMKTS: HITC) is at the forefront of developing technological solutions aimed at improving transactional security and compliance in the healthcare industry and beyond. With a focus on innovation and quality, HiTC is dedicated to providing advanced solutions that meet the complex needs of its clients, ensuring both efficiency and reliability. HiTC is headquartered in Knoxville, Tennessee. More information on HiTC can be found at www.getHiTC.com.
Statements Regarding Forward-Looking Information
Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not a guarantee of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "should," "may," "will," "continue," "strategy," "position," "opportunity," statements regarding the "flexibility" of the Company or the negative of any of those terms or other variations of them or by comparable terminology. A discussion of these risk factors is included in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission.
Contact:
Mr. Scott M. Boruff, CEO
Phone: (865) 237-4448
Email: contact@getHiTC.com
