US Patent Issued to Stichting IP-Oversight on Sept. 15 for "Method for creating commodity assets from unrefined commodity reserves utilizing blockchain and distributed ledger technology" (Canadian, Dominican Inventors)

ALEXANDRIA, Va., Sept. 15 -- United States Patent no. 12,737,804, issued on Sept. 15, was assigned to Stichting IP-Oversight (Lutjebroek, Netherlands).

"Method for creating commodity assets from unrefined commodity reserves utilizing blockchain and distributed ledger technology" was invented by Christopher Youb (Edmonton, Canada) and Bruce Youb (Puerto Plato, Dominican Republic).

According to the abstract* released by the U.S. Patent & Trademark Office: "A token system and method, employing a token representing an interest in a smart contract, comprising: a distributed ledger, storing parameters of a smart contract, the smart contract representing an agreement, secured by a security interest in property, to execute the security interest u...