The company, owned by Cameron and Tyler Winklevoss, founders of the cryptocurrency exchange Gemini, has received a patent for a system that is aimed at enhancing the security of digital transactions.
The application was filed in November, and the patent issued on Tuesday, the Bureau of patents and trademarks USA (USPTO). It describes “a system, method and software product for handling secure transactions in a cloud computing system.” In the list of developers provided by Andrew Laucius, CEM Paya and Eric Wiener (none of the brothers ever see in the list does not appear).
The patented system uses a combination of common cryptographic techniques, including hash functions and digital signatures. The chart included in the proposal, clearly explain what the system is intended to ensure security in the cloud-based exchange of digital assets.
From the description of the system we can conclude that the patent is prepared for use in the infrastructure of crypto currency exchange Gemini.
“The present invention is the improvement of the technology of computer security. Computer systems today are vulnerable to attacks, whether the introduction of malicious code or unauthorized access through external connections such as the Internet.”
Winklevoss IP, LLC, a legal entity that controls a patent, has several trademark and five patents, including this last one.
In recent months increased the number of patent applications related bloccano and cryptocurrencies. A recent patent awarded to a company owned by the automaker Ford, involves the use of technology to facilitate transactions between the cars. CMMP is an ecosystem based on cryptocurrency, which is able to manage car traffic. The project allows different cars to communicate with each other, and using GPS to analyze traffic. Also, one of the main advantages of this system is the fact that the person who made the payment in tokens gets “preferential access strip”.