Overstock’s tZERO Patents Tech for Recording Trades on Public Blockchains

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Security token trading platform tZERO has been awarded a patent for a way of recording trading data on public blockchains.The company, a subsidiary of retail giant Overstock, announced Tuesday that the patent for its new tech, dubbed “Time Ordered Merkle Epoch (TOME) methodology,” had been awarded by the U.S. Patent and Trademark Office.The firm explains:The technology will allow tZERO to record trades as hashes anchored on a public blockchain, verify previous trades and keep an immutable record of the transactions on its platform, according to the announcement.The method, tZERO CEO Saum Noursalehi said, “can be used in our suite of products, as well as licensed to companies across various industries that are seeking to maintain a tamper-proof and auditable record of time-series-based data.”It can also link the settlement of tokenized securities on a public blockchain with legacy trading systems and anchor data about the resulting on-chain settlements into public blockchains,…

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