Big Blue appears to be making serious inroads in the crypto space.
CoinDesk reports that IBM has been awarded a U.S. patent for its so-called “self aware” token.
Per a document filed at the United States Patent and Trademark Office, the token is a ledger-based system which can record transaction data despite being disconnected from its related crypto platform. When it finally reconnects, the system automatically uploads all the “offline” transaction data.
The system allows the system to track any individual token from creation to destruction, including all the payments locations, amounts, and token holder information in between.
The ability to validate and authenticate digital tokens across their lifetime, IBM says, should “bolster trust and viability, allowing e-Currencies to operate across disparate economic systems, fostering easier participating alongside sovereign currencies and other non-standard currencies.”
“Such a system would constitute a significant improvement to the art of financial data processing,” the patent continued. Self-aware tokens record data by measuring their value against the other asset involved in the transaction, which is said to better aggregate and quantify values against other assets, including other cryptocurrencies or fiat currencies.