Irvine, California--(Newsfile Corp. - May 21, 2021) - SmartAxiom Inc., a subsidiary of Life on Earth Inc (OTC Pink: LFER), announced today that it has received U.S. patent number 10,924,466 for its Intellectual Property (IP) 'System and Method for IoT Security.'
The patent covers SmartAxiom's innovative blockchain to manage and secure Internet-of-Things (IoT) systems.
Blockchains are ideal tools at building and providing the trust factor between IoT devices but have traditionally been plagued by suboptimal speed and an inordinate need for power to efficiently run on IoT devices. SmartAxiom's breakthrough multi-chain technology provides an industry first solution enabling devices to interact while meeting requirements of a 'Zero Trust' solution. Security is the critical factor in building a robust IoT structure and our patented solution can now provide this security on an unprecedented scale. The patent also covers far improved latency, reliability, scalability and manageability versus alternative solutions.
Amit Biyani, SmartAxiom President and one of the patent's inventors, commented, "We are very excited that the U.S. Patent office has recognized our innovation with approval of this patent. It covers the core distributed ledger technology (DLT) that makes our IoT management and secure communication solution so appealing to large companies. This application covers supply chains, distribution logistics, Industrial IoT and smart buildings to name a few. With this technology we can build the first true distributed IoT infrastructure that is blockchain-secured from endpoint-to-cloud. Additionally, it can track complete asset lifecycles, digital content or even the identity of people with non-fungible tokens (NFTs)."
Mahmood Khan, Life on Earth, CEO stated, "This is a very important IP and it will make a broad impact in the IoT as well as Cloud based solutions. In my next shareholder's update, next week, I will be including more specific details on how our solutions will help our customer's manage the cyber threats they face."