MICROSOFT WINS CRUCIAL BLOCKCHAIN PATENT!

Microsoft's subsidiary Microsoft Technology Licensing has received patent approval from the US Patent and Trademark Office (USPTO)

The tech company filed a patent for the blockchain system in February 2019. Microsoft describes this system as a ledger-independent service. This is software that enables both individuals and organizations to create and manage tokens on various distributed ledger networks and platforms.

The platforms included in the patent application are Ethereum, R3 Corda, Chain Core, Hyperledger Fabric (supported by IBM), and Quorum Q3 (JP Morgan).

Multiple token templates

The advanced system is also described as a platform that can provide users with one or more token templates, each of these templates corresponding to a type of physical or digital asset.

It also serves as a single interface for managing the life cycle of tokens across different blockchains, allowing developers to write code for the transaction and management of tokens in a more efficient way.

The authors of the patent said that the blockchain-based token management system is certainly a more efficient tool for operations associated with crossing ledger boundaries.

Microsoft's blockchain venture

Just like other tech giants, Microsoft has increased its interest in blockchain technology over the years, which is evident from the projects it has initiated. In fact, the recent patent win isn't the first attempt to apply for a patent on a blockchain project.

Over the years, Microsoft has diligently filed patents for technologies to be used in the crypto industry. That means the company is aiming for a leadership role in the fast-growing market, with some analysts even saying it wants to replicate its massive success in the software market from back in the cryptocurrency industry.

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