(https://news.bitcoin.com/wp-content/uploads/2018/02/moneytoken-screen-696x390.png)
WIPO, the World Intellectual Property Organization, has received a new patent application, owned by the MoneyToken project, as announced on the MoneyToken blog.
The application describes a blockchain-based technology process of decentralized lending, secured by cryptocurrency assets as collateral, that doesn’t require vouching agents and that uses smart contracts and multi-signature wallets within the crediting process.
The premise is straightforward: By taking a cryptocurrency-backed loan with MoneyToken, users can receive liquid funds and hold their crypto assets all at the same time.
Source (https://news.bitcoin.com/pr-money-token-applies-for-royalty-free-patent-on-crypto-backed-lending-technology/)