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As of August 6th 2019, tZERO announced its receipt of the Time Ordered Merkle Epoch (TOME) patent from the U.S. Patent and Trademark Office. The new patent will allow data from transactions via traditional trading systems and private blockchains to be immutably anchored on public blockchains.
The technology behind the new TOME patent is expected to integrate blockchain technology with traditional trading systems.
TOME is a base-layer technology that uses digital signatures to record and verify time-series data to include trades, executions, and settlements.
Through the new technology, incoming trades can be recorded quickly and efficiently in a time-series, producing a hash at any time interval, which can then be anchored on a public blockchain.
With a such a capability, tZERO can verify the existence of previous trades and even produce an immutable and auditable record of those transactions.
Ultimately, the technology behind TOME allows for low-latency systems, to include both traditional matching engines and private blockchain ledgers, to be immutably anchored to public blockchains.
According to tZERO CEO Saum Noursalehi,
“This technology, which is synergistic with the patent that we announced earlier this year, has many use-cases in our ecosystem. It 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. Today’s announcement showcases our technological leadership in blockchain innovation and underscores the strength of tZERO’s intellectual property and its growing portfolio of strategic assets.”
“ [The new technology] can record and anchor the execution venue’s transactional data and the resulting on-chain settlement data into public blockchain ledgers. For example, off-chain trade data and on-chain settlement data occurring on an Ethereum mainnet can be combined and anchored into the Bitcoin blockchain for added resiliency, security and transparency.”
In July, tZERO announced the tokenization of a major motion film, “Atari: Fistful of Quarters”. During the same month, the company announced the hiring of new management executives, which came from the likes of IMAX and Barclays.
What do you think of tZERO’s TOME patent? Will tZERO go on to actualize its vision of transforming Wall Street? Let us know what you think in the comments section below.
Image courtesy of tZERO.