The Winklevoss Twins to Receive New Patent

Patent is about  a system that is designed to improve the security of digital transactions
12 April 2018   857

A company owned by the Winklevoss brothers, the founders of the Gemini exchange, received a patent for a system designed to enhance the security of digital transactions. This is reported by CoinDesk.

The application was filed in November, and the patent itself was issued recently by the US Patent and Trademark Office. It describes the "system, method, and program product for processing secure transactions within a cloud computing system".

The system uses a combination of common cryptographic techniques, including hashing functions and digital signatures. It is designed to ensure the security of transactions on the cloud exchange.

Although the document does not directly mention this, there are reasons to believe that the technology can be used in the infrastructure of the Gemini exchange.

The present invention is an improvement to computer security technology. Computer systems to date have been susceptible to attack, whether the introduction of malicious code or the unauthorized access of information, over external data connections, such as the Internet. As computing systems increasingly move to distributed computing architectures, such as cloud computing, external data connections are often necessary to the functioning of the computing system.

Patent Application

Winklevoss IP, LLC, which was awarded with the patent, owns many trademarks and 5 patents, including issued this week.

Xapo to Move from Hong Kong to Switzerland

According to Ted Rogers, Xapo president, Switzerland is the best place for crypto companies
23 January 2019   78

The well-known cryptocurrency company Xapo has decided to move the majority of units from Hong Kong to the Swiss “Cryptowalley”, BitcoinExchangeGuide reports.

The main structures of Xapo have worked in Hong Kong for several years. Nevertheless, the company is convinced that Switzerland has a more friendly legal infrastructure in relation to cryptocurrencies. This, Xapo believes, will enable the company to improve the quality of services and better comply with regulatory requirements.

It was one thought that Hong Kong was the holy grail of crypto regulations. But it has become more opaque. It’s a reality of this industry that you have to be agile and react to regulatory changes all the time. Swiss regulators are smart, interested and sophisticated in dealing with the financial markets. 

Ted Rogers

President, Xapo

Also, according to him, Switzerland is the best place to create cryptocurrency and blockchain companies.

Currently, Xapo has about 250 employees. At the same time, only 10 of them work in Zug.