US Patent Issued to NCHAIN LICENSING on April 29 for "Smart contract execution using distributed coordination" (British Inventors)

ALEXANDRIA, Va., June 9 -- United States Patent no. 12,289,408, issued on April 29, was assigned to NCHAIN LICENSING AG (Zug, Switzerland).

"Smart contract execution using distributed coordination" was invented by John Fletcher (Cambridge, Great Britain) and Thomas Trevethan (London).

According to the abstract* released by the U.S. Patent & Trademark Office: "The invention relates to distributed ledger technologies such as consensus-based blockchains. Computer-implemented methods for smart contract outcome determination are described. The invention is implemented using a blockchain network, which may be, for example, a Bitcoin blockchain. A set of conditions is determined between counterparties, with the set of conditions having a plurali...