US Patent Issued to International Business Machines on June 23 for "Privacy-preserving secure offline payments" (Swiss Inventors)

ALEXANDRIA, Va., July 15 -- United States Patent no. 12,664,530, issued on June 23, was assigned to International Business Machines Corp. (Armonk, N.Y.).

"Privacy-preserving secure offline payments" was invented by Elli Androulaki (Zurich, Switzerland), Kaoutar El Khiyaoui (Zurich), Alessandro Sorniotti (Zurich), Angelo De Caro (Zurich, Switzerland), Marcus Brandenburger (Zurich) and Ilie Circiumaru (Zurich).

According to the abstract* released by the U.S. Patent & Trademark Office: "According to one embodiment, a method, computer system, and computer program product for conducting offline payments is provided. The embodiment may include adding funds from a funding source to an initial token using a commitment scheme. The embodiment may a...