Tech giant Microsoft has now forayed into the blockchain and cryptocurrency space. As per recent reports, Microsoft has filed a patent named, “Cryptocurrency system using body activity data”, under which it is planning to build a system where individuals can mine cryptocurrencies without the help of high-end mining machines and computers.
As per the patent, Microsoft is developing a new cryptocurrency system to enable users to use their body activity data and mine cryptocurrencies. This will basically mitigate the need for specialized mining devices. The document further states, “For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing an advertisement or using certain internet services, can be used in the mining process.”
How does it work?
A server will allot a specific task to a user’s device, which can communicate back to the server. The body activity of the individual is then tracked by a special sensor. On the other hand, a cryptocurrency system will tally the user’s body activity with a pre-defined set of conditions. If these match, then the verified user is incentivized with cryptocurrency by the system.
As of now, the technical architecture of Microsoft’s system is not available. We will update this article with more information.
Other Blockchain-based patents
A number of technology companies are experimenting and exploring the potential of blockchain technology, in a quest to remain relevant in the fast-growing technology spectrum across the world. Interestingly, the United States Patent and Trademark Office has granted as many as 227 blockchain-based patents in a five-year time frame between 2014-2019.
Other notable patents in the tech industry include IBM and Coinbase. While IBM patented the development of a so-called “self-aware token”, Coinbase patented a method to allow users to make Bitcoin (BTC) payments using email addresses linked to wallet addresses, at zero transaction fees.
These potential developments are indeed driving crypto adoption is some way or the other. Recently, Binance announced the launch of its Visa debit card to ease-up the process of shopping with cryptocurrencies.