US Patent Issued to NCHAIN LICENSING on Feb. 4 for "Method and system for efficient transfer of cryptocurrency associated with a payroll on a blockchain that leads to an automated payroll method and system based on smart contracts" (British Inventors)

ALEXANDRIA, Va., Feb. 5 -- United States Patent no. 12,217,224, issued on Feb. 4, was assigned to NCHAIN LICENSING AG (Zug, Switzerland).

"Method and system for efficient transfer of cryptocurrency associated with a payroll on a blockchain that leads to an automated payroll method and system based on smart contracts" was invented by Craig Steven Wright (London) and Stephane Savanah (London).

According to the abstract* released by the U.S. Patent & Trademark Office: "Techniques are presented for securely transmitting a output script or information associated with a payroll and a user between a first node and a second node. The method comprises: determining a symmetric-key based on a common secret, based on a first node second private key a...