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21 Inc. Bitcoin allows customers to receive loans through credit cards

US Patent Office published a patent application, in which the most secret startup in the field of digital currency describes plan of its actions.

According to the patent, the text of which is published on the website of the US Patent Office, the company plans to establish a major service for the storage of digital currency.

"It is a system and method for storing digital currency in the online storage, as well as on the method of use of cryptocurrency for payments and the issuance of loans," specifies in a brief description of the patent.

The new storage will allow users to attach credit cards to their accounts in the system 21 Inc., and bring these to accounts digital currency of other people which is to be converted to its fiat money. Thus, the company's customers will be able to receive funds from the "distributed network of lenders and investors, which is managed by the company's server," says the patent.

In addition, the patent also includes a detailed description of the two-factor authentication system, by which the 21 Inc. plans to protect the wallets of its users. This protection system is present in many Bitcoin wallets, but CoinFox is not aware of other cases when the description of the system got in a US patent.

The company has applied for a patent in May 2015, but the Patent Office has published its just now. This does not diminish the importance of this publication as very little is known about 21 Inc.'s plans.

Bitcoin-startup of 21 Inc. was founded by a group of graduates of the Massachusetts Institute of Technology. In 2015, the startup has attracted more than $ 40 million investment, but has refused to disclose its plans for application of these funds. Shortly thereafter, the company introduced in the market of its main product – a miniature device for mining, which allows the use of virtually any device that works on electricity to obtain Bitcoins.

In 2016, the company posted a code that allows automatic carrying out of Bitcoin-translations. It also suggested that customers use the miners to gather data about atmospheric pressure. 21 Inc.'s site has published guide that allows each miner to connect to the barometer. It was assumed that the company's customers will be able to sell their devices data to companies collecting information about the climate in a given region. 21's idea has caused a wide resonance among Bitcoin enthusiasts and again caught the attention of market participants to young company from the US, which obtains patents on their researches – and carefully guarded secrets.


  • November 28, 2016 5:09 PM MSK