USPTO Published Digital Currency And Blockchain Patents Filed By Barclay Barclays has filed two patent applications identifying with the transfer of digital currency and blockchain data storage, both published by the U.S. Patent and Trademark Office (USPTO) on July 19. The first patent depicts a framework for exchanging digital currency from payer to recipient that would safely confirm the identities of both, and in addition validating and recording transactions utilizing public-key cryptography and a digital currency ledger. Beyond currency transfer, the patent goes ahead to depict an extensive variety of use cases for safely and secretly processing data in a trustless manner using a blockchain system. One representation traces how claims and authentications could be verified on the blockchain, utilizing the case of credit status and insurance claims. Barclays imagines the potential recipients of such a framework to be people, authorities, companies, and banks, and in addition objects to which a digital wallet could be doled out, for example, an Internet of Things (IoT) item. The patent further layouts the invaluable steps of using a Merkle Tree Structure to store blocks keeping in mind the end goal to augment effectiveness and ease of data validation. The second patent relates all the more narrowly to storing and supporting data and claims identifying with specific entities, utilizing the validation of individual data for Know Your Customer (KYC) checks as a key case. As reported by Cointelegraph, this spring, it was rumored that Barclays was evaluating whether customer intrigue was adequate to warrant setting up a committed cryptocurrency trading desk. The claims were before long discredited by Barclays‘ CEO Jes Staley, in spite of the fact that the bank strikingly keeps on helping its customers to settle Bitcoin (BTC) future contracts that are offered on subsidiaries exchange, for example, CME Group Inc. also, CBOE Global Markets Inc. Barclays was likewise the first UK bank to open an account for a cryptocurrency exchange, making a deal with major U.S. exchange services and wallet provider Coinbase this March. The post USPTO Published Digital Currency And Blockchain Patents Filed By Barclay appeared first on OWLT Market.

Barclays has filed two patent applications identifying with the transfer of digital currency and blockchain data storage, both published by the U.S. Patent and Trademark Office (USPTO) on July 19.

The first patent depicts a framework for exchanging digital currency from payer to recipient that would safely confirm the identities of both, and in addition validating and recording transactions utilizing public-key cryptography and a digital currency ledger.

Beyond currency transfer, the patent goes ahead to depict an extensive variety of use cases for safely and secretly processing data in a trustless manner using a blockchain system. One representation traces how claims and authentications could be verified on the blockchain, utilizing the case of credit status and insurance claims.

Barclays imagines the potential recipients of such a framework to be people, authorities, companies, and banks, and in addition objects to which a digital wallet could be doled out, for example, an Internet of Things (IoT) item. The patent further layouts the invaluable steps of using a Merkle Tree Structure to store blocks keeping in mind the end goal to augment effectiveness and ease of data validation.

The second patent relates all the more narrowly to storing and supporting data and claims identifying with specific entities, utilizing the validation of individual data for Know Your Customer (KYC) checks as a key case.

As reported by Cointelegraph, this spring, it was rumored that Barclays was evaluating whether customer intrigue was adequate to warrant setting up a committed cryptocurrency trading desk. The claims were before long discredited by Barclays‘ CEO Jes Staley, in spite of the fact that the bank strikingly keeps on helping its customers to settle Bitcoin (BTC) future contracts that are offered on subsidiaries exchange, for example, CME Group Inc. also, CBOE Global Markets Inc.

Barclays was likewise the first UK bank to open an account for a cryptocurrency exchange, making a deal with major U.S. exchange services and wallet provider Coinbase this March.

The post USPTO Published Digital Currency And Blockchain Patents Filed By Barclay appeared first on OWLT Market.

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