The US Patent and Trademark Office (USPTO) published on Thursday a series of patent applications, some of which were related to distributed ledger technology (DLT), also called blockchain. Among the applicants, we noticed companies such as Microsoft (NASDAQ:MSFT), IBM (NYSE:IBM), Northern Trust Corporation (NASDAQ:NTRS), British Telecommunications, and JPMorgan (NYSE:JPM).
The US tech giant founded by billionaire Bill Gates filed applications for three interrelated patents, called “establishment of consortium blockchain network,” “consortium blockchain network with verified blockchain and consensus protocols,” and “transaction processing for consortium blockchain network.” All the applications were filed last year on June 29.
The inventions aim to secure the way companies engage in blockchain consortiums. According to the patent description, when the first blockchain node is endorsed, consortium founders can authorize a pre-determined type of blockchain or other protocol code. Also, they can define a pre-determined membership list that is held in a so-called trusted execution environment (TEE) of the first node.
“A determination may be made as to whether the membership lists and pre-determined blockchain or other security protocol code to be authorized from the proposed members match. If so, T...
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