TessPay

We have developed a financial technology platform for securing and streamlining financial transactions (the “Platform”) that utilizes blockchain technology to provide payment assurance and liquidity through a finance supply chain. Our Platform makes use of smart contracts, as programmatic representations of the terms of a legal contract between transacting parties, to affect automated financial settlements (account balance computations) to the supply chain participants. The Platform was developed in response to a need to transition from the current payment process down the supply chain (typically triggered by a manager or trusted party) to a more modern protocol that mandates simultaneous payment of all component and sub-component suppliers when the primary party makes a payment into the supply chain. The blockchain elements of the system were in temporary abeyance during part of 2021 and 2022 with a secure database substituting for blockchain technology during a systems upgrade. The blockchain elements of the Platform returned to service during the first quarter of 2023. We elected to initially deploy the Platform and its services within the wholesale telecommunications industry, then into funding participating providers (each, an “ACP Provider”) under the Affordable Connectivity Program, or “ACP”, of the United States Government, operating under the Federal Communications Commission, or “FCC”, and subsequently into the major projects commercial construction industry.