US Patent Issued to VERONA HOLDINGS SEZC on June 23 for "Smart contract-managed decentralized lending processes using collateral tokens that includes a conditional collateral sale stage" (Oregon, Nevada, California Inventors)

ALEXANDRIA, Va., July 15 -- United States Patent no. 12,664,583, issued on June 23, was assigned to VERONA HOLDINGS SEZC (George Town, Cayman Islands).

"Smart contract-managed decentralized lending processes using collateral tokens that includes a conditional collateral sale stage" was invented by Lukasz Jakub Sliwka (Las Vegas), Jonathan Yantis (Grants Pass, Ore.) and William Edward Quigley (Pacific Palisades, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A loan process smart contract manages a collateralized loan process for a loan against a collateralized item, the collateralized loan process including tokenizing and locking a collateral token that tokenizes the collateral item, managing a conditi...