US Patent Issued to International Business Machines, The Board of Trustees of the University of Illinois on July 14 for "Privacy-preserving decentralized multi-party netting" (American, Swiss Inventors)

ALEXANDRIA, Va., July 14 -- United States Patent no. 12,682,340, issued on July 14, was assigned to International Business Machines Corp. (Armonk, N.Y.) and The Board of Trustees of the University of Illinois (Urbana, Ill.).

"Privacy-preserving decentralized multi-party netting" was invented by Angelo De Caro (Zurich, Switzerland), Andrew Miller (Champaign, Ill.) and Amit Agarwal (Champaign, Ill.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for a fully distributed privacy-preserving multi-lateral netting between parties is disclosed. The method comprising collecting pending transactions between at least a part of the parties, publishing a commitment of pending transactions to a bulletin board, sec...