KRNC, a blockchain initiative funded by the U.S. government, announced today that it has obtained the first U.S. patent on its proprietary technology for integrating blockchains with the legacy banking system. The technology, called Proof-of-Balance, allows anyone with online banking to unlock cryptographic tokens in proportion to their fiat savings. These tokens have the same verifiable scarcity as Bitcoin, and they can be used to interact with smart contracts and decentralized applications. “Proof-of-Balance brings blockchain...