“Alcatel-Lucent filed for Patent Application WO2013127713 A1 ‘Decentralized Electronic Transfer System’ with the World Intellectual Property Organization (WIPO). The essence of the patent is a system whereby a decentralized currency such as Bitcoin is stored in a secure environment known as a Vault (i.e. secured repository) and a smaller unsecured portion of funds are stored in an unsecured Wallet (i.e. unsecure repository). An unsecured wallet would be on a mobile phone for example. Funds are doled out from the secure vault to the less secure wallet to provide the wallet holder with less cumbersome and frictionless experience when spending bitcoin in day to day transactions.”
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Tip Freedomwat.ch Staff with Bitcoin
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