ALEXANDRIA, Va., June 10 -- United States Patent no. 12,293,357, issued on May 6, was assigned to DIAMOND STANDARD INC. (New York).
"Deploying physical diamond tokens on a blockchain" was invented by Cormac L. Kinney (New York).
According to the abstract* released by the U.S. Patent & Trademark Office: "A diamond asset comprising one or more diamonds and an encryption chip is used to asset-back a cryptographic token that can be used to conduct transactions. The cryptographic token is written to a blockchain using a smart contract that is configured to enable a transaction associated with the token in response to two or more of: a signature by the encryption chip, a signature by the owner of the diamond asset, and a validation of a visual ...