Microsoft’s subsidiary Microsoft Technology Licensing has received patent approval from the US Patent and Trademark Office (USPTO)
The tech company filed a patent for the blockchain system in February 2019. Microsoft describes this system as a ledger-independent service. This is software that allows both individuals and organizations to create and manage tokens on various distributed ledger networks and platforms.
The platforms included in the patent application are Ethereum, R3 Corda, Chain Core, Hyperledger Fabric (supported by IBM) and Quorum Q3 (JP Morgan).
Multiple token templates
The advanced system is also described as a platform that can provide users with one or more token templates, each corresponding to a type of physical or digital asset.
It also serves as a single interface for managing the lifecycle of tokens across different blockchains, allowing developers to write code to transact and manage tokens in a more efficient manner.
The authors of the patent said that the blockchain-based token management system is certainly a more efficient tool for operations related to crossing ledger boundaries.