US Postal Services Files for Patent Application for Backing up Data Using Blockchain Tech

The US Postal Service is eyeing to use the blockchain technology as part of a system to establish digital trust and has filed for a patent in the same direction. The patent application “Methods and Systems for Digital Trust Architecture” was published on March 22nd by US Patent & Trademark Office, was initially filed in last September.

According to the application filed, the system will provide trust to the users those are lacking in their ability to adequately provide the desired level of security citing concerns like transaction tampering and insecure messaging and among others.

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The application mentions: “There are many excellent reasons for online interactions to continue as they have been. However, in a multi-party, open source environment, there is also a need for a secure, trusted, and enforceable online environment, to enable greater trust and therefore an expansion of offerings online.”

The system includes several components including one dedicated to email and another that provisions public and private keys for the user. It also mentions for a blockchain component that can be configured to receive records from the user and add the records to a blockchain. According to the application, some part will work in tandem to bridge the blockchain and email segments.

“In some aspects, the user email component is further configured to receive input indicating whether information indicating the transmission of the encrypted email body data is to be stored in a blockchain and store the information in a blockchain in response to the input,” the applications mentions.

The patent filing is a significant development, as sometime back the US Postal Services has announced that it could create its own cryptocurrency as well as technology for its own supply chain applications.

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Dash Core Group Files Patent Ahead Of Evolution Platform Launch

Image: Dash cryptocurrency, by descryptive.com, via Flickr

The Dash Core Group, the US-incorporated company leading the development of the peer-to-peer payment platform and cryptocurrency Dash, has filed a provisional patent relating to its upcoming platform called Evolution, expected to launch in Alpha in H2 2018.

The patent deals with the registration and storage of metadata relating to blockchain-based user accounts on the Evolution platform. The group said it filed the patent for defensive purposes and will freely license its innovations to the public subject to terms and conditions of an accompanying licensing policy.

“Similar to how Tesla has ‘open sourced’ their electric automotive tech patents, we felt that it was worth applying for a minimal level of protection for our patent. Utilizing a set of licensing criteria similar to Tesla’s ‘Good Faith’ clause with its open patents, we can now freely license the patent to the public, while ensuring that no one co-opts the technology for use that contradicts the Dash network’s long-term goals of mass adoption,” Dash Core CEO Ryan Taylor told CoinJournal.

In a bid to boost the electric car industry, Tesla CEO Elon Musk vowed in 2014 that the company would not sue when other companies use its patents so long that these companies are “acting in good faith.”

This includes not asserting any patent or other intellectual property right for the use of technologies relating to electric vehicles or related equipment, not challenging any Tesla patent, and not marketing or selling any knock-off product, according to Tesla’s Patent Pledge.

“Dash Core Group is protecting the technology and all its potential users or developers from malicious actors that could patent the technology themselves to try to extract undue revenue or prevent others from using it,” Taylor said.

“We think the community will understand and appreciate the logic, and we see it as another major step toward enhancing the professionalism of the entire digital currency industry, as well as protection for what we envisage as a game-changing technology like Evolution.”

The patent, which lists as inventors the Dash developers Evan Duffield, Andy Freer, Timothy Flynn, Nathan Marley, Darren Tapp, Alex Werner and Will Wray, is for an overlay on the existing Dash protocol. The new overlay enables blockchain-based user accounts, as well as storage of metadata and the rules that govern interactions between accounts, while preserving the decentralization of the Dash network.

The patent itself is not public record currently, though it will become publicly available within 18 months after a non-provisional patent is filed.

The much-anticipated Evolution platform promises to introduce major improvements and several important developments, which Dash Core will share in the weeks and months ahead. “We’ll be announcing specific features as the rollout progresses,” Taylor said, adding that the patent filed in the previous weeks was “a good primer for what to expect.”

Notably, the new technologies to be released will allow developers to build their own decentralized application protocols on top of Dash, making it possible to introduce functionalities and features such as user accounts, password recovery, recurrent payments, among other things.

“Such a leap forward will be done thanks to data contracts that Dash has developed. These differ from smart contracts in that the computation is done at the client level instead of the network, but the data and relations are still validated in the blockchain,” Taylor explained.

While this will bring in additional possibilities for developers, the goal remains nevertheless to make Dash more accessible to a much broader audience.

“At a high-level Evolution will make Dash the industry’s first decentralized payments platform that can be used by the average user,” Taylor said.

“Our goal is to provide users with all the convenience and ease-of-use of a service like PayPal, but without sacrificing the unique benefits afforded by blockchain-enabled decentralization. User experience and accessibility has been one of the biggest roadblocks to user adoption of cryptocurrencies broadly speaking, and we believe the Evolution platform is going to play a major role in overcoming this challenge.”

Binance Embraces Cryptocurrency Innovation in Malta

The most active cryptocurrency market, Binance, relocates from Japan to Malta to operate under their new Digital Innovation Authority. The cryptocurrency trading platform promises to build relationships with financial institutions to provide the option of direct purchases of cryptocurrencies like Bitcoin with Fiat currency.

Tourist Destination to Tech leader?

Malta is a small island off the coast of Italy in the Mediterranean Sea, but is establishing acceptance of the big tech ideas coming out of the Blockchain space and the greater applications of Digital Ledger Technology (DLT). Their regulations will come in three steps:

  1. Formally establishing the “Digital Innovation Authority
  2. Issuing a Bill to outline registration for “Technology Service Providers” and certification of “Technology Arrangements
  3. Initial Coin Offering (ICO) regulation through a Bill that builds a framework for the process

Does a digital business need a home?

Binance is still a newcomer to the Altcoin exchange world, but since their launch last year in July, they have quickly moved to the forefront of activity by volume, and are now working to push the boundaries of governmental cooperation.

Relocation is nothing new to the company. It was founded in Hong Kong China, but moved their headquarters to Japan just two months after launching due to Chinese regulation changes. The Japanese Financial Services Authority issued a warning to the company on March 23rd, as they are not registered with the authority.

It seems that Binance was prepared for this situation, as they have also recently established offices in Taiwan. They will be completely shutting down operations in Japan, and have been welcomed by the Prime Minister of Malta.

What does this mean for the future?

With Malta taking steps to fully engage the possibilities of DLT, this could plant the seed of further cooperation between digital cryptocurrency organizations and existing physical institutions. The goal is to increase efficiencies in all aspects of business and government using DLT and Blockchain. As the association of these technologies moves beyond Bitcoin and other coins, it could spawn major increase in the adoption rate of cryptocurrencies.