Tyler and Cameron Winklevoss, the founders of the Gemini cryptocurrency exchange, have obtained 6 stablecoin-related patents, according to filings with the U.s. Patent and Trademark Office.

Three of the patents — the first, 2nd and the fifth on the listing — all  describe systems for changing the supply of a public blockchain-based stablecoin. The first patent describes how trusted tertiary parties such as exchanges or banks can generate the asset, also on-demand.

Stablecoins as a office of traditional finance

Two of the patents — the tertiary and sixth on the list — describe a system for creating a stablecoin on a public blockchain. The 3rd patent likewise suggests that backed stablecoins could exist used every bit collateral in financial transactions that are executed via smart contracts.

The fourth patent — filed on April 23, 2022 — "relates to the utilize of a stable value digital asset to pay dividends for securities and other financial instruments tied to a blockchain." This paper suggests that dividends from securities similar stocks could be paid in stablecoin.

The battle for crypto patents

As the cryptocurrency space is maturing and showing real potential, major companies are increasingly researching relevant technologies and patenting them. As Cointelegraph reported in late January, tech behemothic IBM has been awarded a patent for the development of a "self-aware token" designed to tape events of an offline transaction.

Brian Amstrong, the CEO of major crypto exchange Coinbase, has patented a organization that allows users to transact Bitcoin via electronic mail and his company received a patent for a system that identifies and flags not-compliant accounts at the terminate of 2022.

Walton professor of information systems and the director of the Blockchain Middle of Excellence at the Academy of Arkansas Mary Lacity recently suggested that the U.S. and Prc are currently contesting for authority in the blockchain manufacture. On Feb. 1, the Chinese patent application process for blockchain technologies was antiseptic in an try to streamline it and proceeds an reward in this boxing.