The application of blockchain and non-fungible tokens shows potential for eliminating back-office overhead and human error ahead of inflation
CLEARWATER, FL – May 10, 2021 – OriginClear Inc. (OTC Pink: OCLN), The Water Company for the New Economy™, announces today that it recently filed “System And Method For Water Treatment Incentive”, a patent application for using blockchain technology and non-fungible tokens (NFT) to simplify the distribution of payments on outsourced water treatment and purification services billed on a pay-per-gallon basis ahead of inflation.
Enabling Outsourced Water Treatment
“We have learned that paying numerous parties in service-based water treatment is a cumbersome process that creates mislaid emails and human error,” said Riggs Eckelberry, OriginClear CEO. “We believe the use of blockchain technology and NFT can eliminate these problems and help enable an outsourced water treatment marketplace.”
The Company has begun the development process of using such blockchain technology and NFT, while also exploring other ways to resolve payment issues.
Water on Demand
“Water is a risk that we expect smart managers will outsource, especially with worsening inflation,” said Riggs Eckelberry, OriginClear CEO. “Outsourcing through what we call Water on Demand™ could mean that these companies do not have to worry about the problem, either financing it or managing it.”
In fact, the Wall Street Journal this week reported that “everything screams inflation” and “investors are woefully unprepared for what may be a once-in-a-generation shift in the market.”
OriginClear Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.
These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable laws. There cannot be any assurance that the Company’s patent application will result in the granting of a patent.