Microsoft patents cross-platform token-management system

Microsoft has patented a method for implementing a cross-platform token-management system. According to the application for the USPTO, it will allow developers to create smart contracts that are not tied to a specific blockchain.

The patent was granted to a subsidiary of the technology giant Microsoft Technology Licensing. In the application, which was filed with the agency in February 2019, it describes a software service that enables individuals and organisations to create tokens on distributed ledger technology (DLT) networks and platforms. 

As examples of such systems, Microsoft cites Ethereum, as well as corporate blockchains Hyperledger Fabric, Quorum and R3 Corda. 

The service proposed by the company will provide users with several “token models” — each corresponding to a specific type of physical or digital assets. Depending on the chosen model, the token attributes to be issued on a given blockchain will be determined. 

“A registry-independent service acts as a single, unified interface for managing the lifecycle of tokens across several different DLT systems. Developers will be able to write code for transactions and manage tokens in a way that is independent of the underlying networks or platforms on which they are deployed,” the filing said.

In September, Microsoft will shut down the cloud-based blockchain platform Azure Blockchain Service. As an alternative, the company has offered clients to use Quorum Blockchain Service from ConsenSys, with which it collaborates.