“Private keys for a multi signature account may be stored as backups, e.g., in secure storage which may be difficult to access, and may be used in the event that more readily obtainable keys are lost.”

The famous twins, Cameron and Tyler Winklevoss, have filed for a new patent in storing virtual assets in a secure manner. The Winklevoss IP, LLC patent, named “Systems and methods for storing digital math-based assets using a secure portal,” this includes a new method which allows the division of a virtual asset account “into a plurality or private key segments”. The patent continues and goes onto state:Ethereum, Ripple, Litecoin and Bitcoin and other altcoins were mentioned in the patent as well. Earlier in the year, the Winklevoss IP won a patent application for crypto-based asset trading. Back in June this year, Cameron and Tyler Winklevoss also gained a similar patent for the crypto related ETP system. As reported by Coin telegraph on 13April this year, Winklevoss IP was allowed a patent for a system to enhance virtual transactions in a secure manner while implementing usual cryptographic encryption principles.