Winklevoss twins apply for digital asset storage patent

September 06, 2018
Neil Dennis

After the disappointment of being refused a listing for their bitcoin exchange-traded fund, the Winklevoss twins’ company has filed a patent for “securely storing digital assets” according to the US Patent Office.

Cameron and Tyler Winklevoss: the twins’ have applied for a crypto-storage patent

The patent application from Winklevoss IP LLC describes “systems and methods for storing digital math-based assets using a secure portal”. Among those digital math assets it lists bitcoin, litecoin, ripple, ether and many more individual tokens.

Security systems described may also be used, according to the filing, as security protocols for other financial products such as derivates, exchange-traded products, funds and debt instruments.

Private keys

Using a system of private keys for added security, the patent application also makes provision for at least one isolated computer that is not directly connected to an external data network.

Earlier in the year Cameron and Tyler Winklevoss’ company were granted a patent for crypto-based asset trading that allowed for the settlement of exchange-traded products using cryptocurrencies.

While their applications to the Patent Office have proved successful in the past, the twins have had less success in their dealings with financial regulators. In July, the Securities and Exchange Commission rejected their proposed rule change that would have allowed for the listing of a bitcoin exchange-traded fund.

Post written by Neil Dennis
Neil is a business journalist of some 20 years experience, 16 of those writing, commissioning and editing on the capital markets desk of the Financial Times. He left the FT two years ago to pursue a freelance career, working for FX-MM and Capital.com among others.

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