U.S. Patent 10790976 was awarded to BLOOMIO AG on September 29, 2020 and is entitled “System and method of blockchain wallet recovery.” The first named inventor is Alexey Raevsky of Moscow, . The abstract contains an overview of the patent disclosure:

Disclosed are systems and methods for recovering cryptocurrency assets which may be tied to a lost personal private encryption key. The disclosed system deploys a multi-signature wallet formed from a set of keys including the user’s personal key, the key of an organization provides blockchain service for the user, and a reserve key stored by third-party escrow organization. To recover a lost user private key, the system generates and digitally signs with the appropriate private keys a blockchain transaction that includes a script configured, when executed by a node in a blockchain network, to replace the user key with a replacement key. Link to Full Patent

This blockchain patent was originally filed on August 01, 2018  as U.S. Patent Application 16/051571 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10790976. The primary examiner was Mohammad W Reza.

BLOOMIO AG, who is the original assignee of this patent, has at least 1 total granted patents in the United States as of the date of this article. This blockchain patent has been cited 2 times by other U.S. patents according to our law firm research, and can be considered an innovative patent in the field of cryptocurrency and blockchain.

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