The United States Patent and Trademark Office (USPTO) has approved a patent for “ledger-independent token services” to Microsoft Technology Licensing on August 24.
- The service, funded by John Marley Gray, Philip Gregory Cignavitch, Supriya Madhuram, and Nayana Patel, can provide the users one or more token templates through a computer system. One template will also include control functions for transferring, minting, and burning quantities of the token.
- The computer system would include one token template corresponding to a fungible asset type with a fixed supply, one to a non-fungible asset type with variable supply, and one to a non-fungible asset type with a fixed supply.
- The tech giant filed for the patent on February 25, 2019, to develop software that can help users create and manage tokens across different platforms quickly and efficiently.
- Due to the increasing popularity of cryptocurrency among the population, last year, the company also received a patent for a cryptocurrency mining system that leverages human activities, including brain waves and body heat, when performing online tasks such as using search engines, chatbots and reading ads.