The application, which signifies the New York-based global bank’s growing interest in cryptocurrency, has been filed with the US Patent & Trade Mark office.
The technology provides a virtual, multi-asset wallet for a traditional cash and securities account for an investor or trader. The technology facilitates transactions between non-virtual wallets and a virtual wallet and vice versa on the same peer-to-peer network.
The currency protocol supports a virtual wallet that serves the functions normally associated with such a wallet; a security and cash account for managing and storing cryptocurrency. Instead of representing a single, transferable item, the SETL coin wallet holds multiple positionable objects such as a security share that the application refers to as a positional item inside the cryptographic currency (PIC), and a position such as a quantity of PIC represented by the wallet.
The application notes that bitcoin is the first cryptocurrency to gain broad attention, followed by Litecoin, Novacoin, Namecoin, Feathercoin, Terracoin, Dogecoin and Peercoin.
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