Winklevoss Twins Wins The Cryptocurrency Key Storage Patent

Gemini, the cryptocurrency exchange founders and well known crypto enthusiasts Winklevoss Twins, Cameron and Tyler Winklevoss have won a patent based upon a cold storage facility involving air-gapped computers, remote vaults , plastic cards and papyrus.

Filed under the twins firm Winklevoss IP, LLC, the patent doc- published on Tuesday by U.S. Patent and Trademark Office, clearly defines an initial plan for the development of a network system capable of generating accounts via computer systems in order to save cryptocurrencies or crypto related ETPs(Exchange-traded-products). A security feature would be isolating all the computer systems except in the cases when they are used to transfer assets.

The constituent computer systems would then generate keys for new accounts, which would then further be segregated and Witten onto external memory devices, like flash drives, CD/DVD or even be written down on physical mediums such as papyrus or sheet of paper.

Cryptocurrency Key Storage System

There are various methods in paper for manufacturing cards, “for example, two sets may be stored on paper, and a third set is stored on papyrus,” but also specifies that at the very least one set of keys should be stored on electronic memory device. Then these keys must be delivered to a key storage company physically or via email/fax. The access to keys are provided to owners after three forms of identification.

The computing systems would be connected to a secure network, which in necessity would process transactions by connecting the machines to the blockchain network

As per the patent, the primary aim is the protection of asset keys to prevent theft.

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