Goldman Sachs Awarded Cryptocurrency Patent

On July 11, 2017, the United States Patent and Trademark Office granted Goldman Sachs a patent for a “Cryptographic currency for securities settlement.” The patent, which was originally filed in October 2014, includes a cryptographic protocol and a supporting virtual wallet “that, in various embodiments, is a security and cash account for storing and managing the cryptographic currency.” According to the document, the virtual multi-asset wallet possesses the ability to generate, manipulate, and store SETLcoins, a new cryptocurrency for exchanging assets, like securities, cash, and cash equivalents, through a peer-to-peer network.
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Submitted July 14, 2017 at 09:55AM by casiokvik
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