The subsidiary of retail giant Overstock tZERO received a patent for a technology that allows settlements on tokenized securities in the open blockchain.
tZERO said that Time Ordered Merkle Epoch (TOME) technology can help record trading data as well as intra-network settlement data in open blockchain registries.
For example, data on off-net trading and data on settlements within the Ethereum network can be combined and linked to the Bitcoin blockchain for “additional security and transparency”. TOME will also help the platform create a secure and verifiable record of these transactions.
“The technology can be used in our product suite, and is also licensed for companies from various industries who seek to keep a secure and verifiable record of data,” said tZERO CEO Saum Nursalehi.
Earlier this year, tZERO also received a patent for a technology for integrating cryptocurrencies with a traditional trading system.
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