Winklevoss Twins’ Company Files New Patent for Securely Storing Digital Assets
Cameron and Tyler Winklevoss’ company has filed a new patent for “securely storing digital assets,” the U.S. Patent and Trademark Office (USPTO) revealed Tuesday, September 4.
The Winklevoss IP, LLC patent, entitled “Systems and methods for storing digital math-based assets using a secure portal,” includes a new method that allows for the division of a digital asset account “into a plurality of private key segments,” providing more secure technology for cryptocurrencies. The patent states:
“Private keys for a multi-signature account may be stored as backups, e.g., in secure storage, which may be difficult to access, and may be used in the event that more readily obtainable keys are lost.”
According to the filing, the patent applies to “digital math-based assets,” where Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) are mentioned among other altcoins.
Earlier this spring, Winklevoss IP had won a patent application for crypto-based asset trading that allows for the settlement of exchange-traded products (ETPs) using cryptocurrencies. In June, the Winklevoss’ brothers also won a similar patent for a crypto-related ETP system.
Back in April, Winklevoss IP was granted a patent for a system to enhance the security of digital transactions, implementing common cryptographic encryption principles, as Cointelegraph reported April 13.