Goldman Sachs “SETLcoin” was granted an encrypted currency patent


nnnThe US Patent and Trademark Office (USPTO) announced on July 11 that the patent application for the “SETLcoin” encrypted currency settlement system submitted by Goldman Sachs in 2015 has been approved and patented. The system is designed to help companies use SETLcoin to convert digital stocks or digital currencies, indicating that digital money has been well received by well-known banks and technology giants.n
nnTranslated by: Inan
nWell-known investment bank Goldman Sachs proposed “SETLcoin” encrypted currency settlement system was awarded a patent.n
nUS Patent and Trademark Office (USPTO) on July 11 announced the Goldman Sachs named “securities settlement encryption currency” patent. Goldman Sachs at the end of 2015 made the patent application also caused a sensation, boarded the news headlines.n
nThe concept envisioned the use of built-in encrypted currency to settle securities trading systems. When the patent application was filed in December 15, an overview of the use of SETLcoin to convert digital stocks or digital currencies (especially Bitcoin and Leite) for companies such as Google and Microsoft.n
nThe following is a description of Goldsmith’s system:n
nn”[A] The SETLcoin wallet can hold the same securities or the same securities with different denominations (for example, an IBM-S SETLcoin value of 100 IBM shares) .SETLcoin wallet can also store multiple securities (eg 1 IBM-S SETLcoin and 2 For example, an IBM-S SETLcoin can redeem one or more ‘GOOG’SETLcoin (ie Google shares), $ 13,000 for SETLcoin, 100 Leight and / or 5 bits.n
nnGoldman Sachs’ patent application was first submitted in October 2014, and its inventors include Paul Walker, head of Goldman Sachs Technology and Phil Venables, chief information officer.n
nGoldman Sachs representatives have not yet responded and commented on the matter.n

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