US Patent Issued to NCHAIN LICENSING on May 6 for "System and method for multi-party generation of blockchain-based smart contract" (British, Luxembourger Inventors)

ALEXANDRIA, Va., June 10 -- United States Patent no. 12,294,644, issued on May 6, was assigned to NCHAIN LICENSING AG (Zug, Switzerland).

"System and method for multi-party generation of blockchain-based smart contract" was invented by Alexandra Covaci (London), Simone Madeo (London), Patrick Motylinski (London) and Stephane Vincent (Luxembourg).

According to the abstract* released by the U.S. Patent & Trademark Office: "Systems and methods described relate to executing, by a third computing entity different from a first computing entity and a second computing entity, a smart contract generated by the first computing entity and the second computing entity. A verification key is determined based on a power of a secret, the power of the sec...