Microsoft wins coin patent! The US Patent Office approved the creation of blockchains and management tokens for businesses
according to the public documents on the website of the US Patent and Trademark Office (USPTO), The USPTO on Thursday granted a patent to Microsoft Technology Licensing,LLC, a subsidiary of Microsoft, The patent is ledger-Independent Token Service and the patent number is 11102003.
Microsoft filed this patent application on February 25, 2019. In the patent summary, Microsoft describes the patent as a token service for a separate ledger, a software service that enables individuals and organizations to create and manage tokens on different distributed ledger networks.
"owns the computer system with this software service, which, upon receiving the request to create a token from the user, further provides the user with one or more token templates, each of which corresponds to a physical or digital asset and has various functions. Tokens are then created on a distributed ledger network based on a template chosen by the user. The
software system provides a standard interface for managing tokens, meaning that developers can manage tokens without knowing the code for a particular token. Microsoft's goal is to make the process of creating and managing tokens simpler and more efficient. Microsoft said blockchain platforms for the service include Ethereum, IBM-backed Hyper Ledger Fabric, J.P.Morgan's enterprise blockchain platform Quorum, R3Corda, ChainCore." In recent years, Microsoft has made frequent moves in the field of blockchain. In March last year, Microsoft successfully filed a patent for a cryptocurrency mining system that allows individuals to mine data from their physical activity. In February, Microsoft partnered with Regen Network, built on the Cosmos blockchain, to purchase 43,338 metric tons of carbon rights from Australian farms using blockchain technology, demonstrating the potential of a new business model to drive environmental progress. However, Microsoft's cloud business, Azure Blockchain Services, announced in May that it would be discontinued on September 10, but would provide users with the opportunity to migrate directly to Ethereum software company ConsenSys' Quorum blockchain.