US Patent Issued to NCHAIN LICENSING on Nov. 11 for "Secure multiparty loss resistant storage and transfer of cryptographic keys for blockchain based systems in conjunction with a wallet management system" (British Inventors)

ALEXANDRIA, Va., Nov. 11 -- United States Patent no. 12,470,371, issued on Nov. 11, was assigned to NCHAIN LICENSING AG (Zug, Switzerland).

"Secure multiparty loss resistant storage and transfer of cryptographic keys for blockchain based systems in conjunction with a wallet management system" was invented by Craig Steven Wright (London) and Stephane Savanah (London).

According to the abstract* released by the U.S. Patent & Trademark Office: "A solution for controlling access to a resource such as a digital wallet implemented using a blockchain. Use of the invention during set-up of the wallet can enable subsequent operations to be handled in a secure manner over an insecure channel. An example method comprises splitting a verification ele...