• Days
  • Hours
  • Mins
  • Secs
  • Mon, 16 Sep 2019, 02:02 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Overstock's tZERO wins patent for TOME technology to use public blockchain to record trades

Wed, 07 Aug 2019, 08:40 am UTC

Overstock’s security token trading platform tZERO has been awarded a patent by the U.S. Patent and Trademark Office for a technology that uses digital signatures to record and verify market data including related trades, executions, and settlements.

Dubbed as “Time Ordered Merkle Epoch (TOME),” the new solution reportedly aggregates different data on both traditional matching engines and private blockchain networks, which can be anchored into a public blockchain.

The system would allow tZERO to record data from incoming trades in a time series, produce a hash at any time interval, which can then be anchored on a public blockchain. As noted in the patent, TOME technology is designed for enterprise-level users, which means crypto firms can utilize it to report trade activities. Regulators can also utilize it for audit purposes.

The proposed technology can also track past trading activities and make an auditable record for the said transactions.

This technology, which is synergistic with the patent that we announced earlier this year, has many use-cases in our ecosystem. It can be used in our suite of products, as well as licensed to companies across various industries that are seeking to maintain a tamper-proof and auditable record of time-series-based data,” Saum Noursalehi, tZERO CEO, said.

In June, tZERO also launched a new digital wallet and exchange services app for cryptocurrencies, called “tZero Crypto App.” The platform allows investors to buy, sell, and hold crypto assets directly on their smartphones, instead of using vulnerable, third-party custodians.

The Overstock subsidiary was recently on a hiring spree, onboarding executives from major entities such as Barclays and iMax. As previously reported, it has gotten Brooke Navarro, Michael Mougias, and Alexandra Sotiropoulos and appointed them as Head of Issuance, Head of Investor Relations, and Head of Communications, respectively.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • wesb
  • 2019.08.20 22:14:16
Unfortunately the article does not discuss the realities of the patent. It has very long claims, which reduce the chances of it being enforceable as competitors can likely workaround.
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $10,384.70 (+0.36%)
  • Ethereum (ETH) $193.80 (+2.97%)
  • XRP (XRP) $0.263300 (+0.63%)
  • Bitcoin Cash (BCH) $307.51 (+0.60%)
  • Litecoin (LTC) $71.87 (+1.36%)
  • Bitcoin (BTC) $10,384.70 (+0.36%)
Sep 13, 2019 (Friday)
11:12
Libra Association head confident about crypto launch in H2 2020
10:42
Blockchain industry welcomes Mastercard-R3 collaboration, but skeptical about the future of private networks
09:52
tZERO to bring blockchain to film financing via new partnership
09:11
France mulls blocking Facebook's Libra project on European soil as FINMA chief weighs pros and cons of the cryptocurrency
07:26
Thailand's PTT, Energy Web Foundation to develop blockchain renewable energy marketplace
07:17
Russia’s Alfa-Bank launches liquidity management service on Waves Blockchain
06:40
Zelle co-founder Mike Kennedy replaces Adam Ludwin as CEO of Interstellar
06:34
Crypto Technicals: XMR/USD recovery lacks traction, price action capped below 21-EMA (75.86)
05:56
Crypto Technicals: BTC/USD trades range-bound, no clear directional bias
05:03
PundiX to launch a fully blockchain-powered phone Blok on Blok (BOB)
04:54
Cryptokitties maker Dapper Labs secures $11.2M to develop blockchain Flow, scores deals from Warner Music, Ubisoft
04:48
Crypto exchange Huobi likely to attempt backdoor IPO in Hong Kong
03:49
Binance's NYDFS-approved stablecoin BUSD is now live on Paxos, to be listed on Binance next week
03:33
Deutsche Telekom's T-Labs launches blockchain e-mobility pilot 'Xride'
Sep 12, 2019 (Thursday)
12:24
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:13
Binance Futures to go live on September 13
11:43
Santander issues $20M bond using Ethereum blockchain
08:55
Binance US to open user registration next week
07:38
Marshall Islands to launch a pre-sale for its blockchain-based national cryptocurrency
06:38
United Kingdom leads with most number of registered cryptocurrency exchanges: Study
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft