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Firm Controlled by Winklevoss Twins Just Won a Patent that Aims to Secure Digital Transactions

April 12, 2018 15:56
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The Winklevoss IP LLC, the entity owned by Cameron and Tyler Winklevoss, known to the public as Winklevoss Twins has been granted a patent for a system that seeks to improve the overall security features of the digital transactions.

The patent granted by US Patent and Trademark Office (USPTO) on Tuesday has been filed in November last year describes itself as “system, method, and program product for processing secure transactions within a cloud computing system”. Andrew Laucius, Cem Paya and Eric Winer have been named as the investors in the project on the patent application. Neither of the Winklevoss Brothers are investor to the project.

The system uses common cryptographic techniques including hash functions and digital signatures that are aimed to provide security in a cloud-based digital asset exchange. There are no direct words on the application of the system but the patent’s language suggests that the system could be used within Gemini infrastructure.

The patent application reads:

“The present invention is an improvement to computer security technology. Computer systems to date have been susceptible to attack, whether the introduction of malicious code or the unauthorized access of information, over external data connections, such as the Internet. As computing systems increasingly move to distributed computing architectures, such as cloud computing, external data connections are often necessary to the functioning of the computing system.”

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