RATE Group | Coinbase CEO Receives Patent for Transacting Bitcoin via Email
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Coinbase CEO Receives Patent for Transacting Bitcoin via Email

20 Dec Coinbase CEO Receives Patent for Transacting Bitcoin via Email

Posted at 10:59h in Bitcoin News by

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Brian Amstrong, the CEO of Coinbase, has patented a system that allows users to transact Bitcoin (BTC) directly using email.

First filed in March 2015 and awarded by the United States Patent and Trademark Office (USPTO) on Dec. 17, the method enables users to make Bitcoin payments using email addresses tied to wallet addresses, without incurring transaction fees.

Zero-fee convenience

As the abstract for the invention indicates, email addresses serve as identifiers for users’ wallet addresses within the system. The method couples a Bitcoin wallet creation and management module with a corresponding email module on a given host computer system:

Diagram of the invention

Diagram of the invention. Source: USPTO

As the patent outlines, the invention includes the creation of a vault — which can be an individual or group’s — in which unclaimed Bitcoin are stored, ostensibly to heighten security:

“Hot wallet functionality is provided that transfers values of some Bitcoin addresses to a vault for purposes of…

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