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Bloomio AG, holding of the Bloomio group, announced that the USPTO (United States Patent and Trademark Office) has issued US patent no. 10,790,976, which is described as a method for recovering crypto assets associated with a cryptocurrency wallet.
Citing a study by Chainalysis, Bloomio claims that around 4 million Bitcoins with a total value of over $ 60 billion have been lost and cannot be recovered. Their patented service seeks to address the problem of losing blockchain users’ personal private keys.
Bloomio’s system is said to distribute a multi-signature wallet in which a private key is stored by a user as a personal key, a second key is stored by a service provider, and a third key is a spare key stored by a vault to guarantee third party organization. The system ensures that every time the private key is lost, the wallet is not compromised.
“We are extremely satisfied with the continuous development of the Bloomio patent portfolio. This new issue continues to expand the breadth and depth of our Bloomio cybersecurity intellectual property portfolio covering security methods for Bloomio’s customers. Our clients have complete control over their crypto assets and have all the benefits of blockchain technology powered by Bloomio’s innovations in blockchain security, “he said. Maxim Lyadvinsky, President and CEO of Bloomio.
Bloomio is a digital securities market based in Switzerland. The platform allows projects to raise capital by tokenizing shares or debt and operates a blockchain-based market.
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