Winklevoss twins, famous for co-founding ConnectU, a social media site which was inspiration for Mark Zuckerberg’s Facebook have come in news again. A company owned by Cameron and Tyler Winklevoss has been granted a patent for a system that seeks to improve the security of digital transactions.
Winklevoss IP, LLC, the legal entity that controls the patent had filed an application for the patent in November which was granted on April 10th by the US Patent and Trademark Office (USPTO). Interestingly, none of the Winklevosses are included on the list and the only inventors listed on the patent are Andrew Laucius, Cem Paya and Eric Winer. The patent can be summarized as a system, method, and program product for processing secure transactions within a cloud computing system.
The system proposed in the patent uses a combination of common cryptographic techniques such as hash functions and digital signatures to provide secure cloud-based digital asset exchange. While not mentioned in the patent, it is safe to assume that the proposed system will be used within Gemini’s infrastructure.
Computer systems to date have been susceptible to attacks, such as introduction to malicious code or the unauthorized access of information, over external data connections, such as the Internet. The present invention is an improvement to computer security technology.
In October 2015, Winklevoss twins launched Gemini, a digital currency exchanger that is aimed at both beginners and professionals. When the Bitcoin prices were skyrocketing a few months back, the twins had become world’s first bitcoin billionaires. They have been prominent figures in the crypto revolutions and will continue being so by making headlines like these.