Patrick was a distinguished engineer at Cisco Systems and has been involved in Internet-related standardization since 1989, both in Sweden and worldwide. Fältström is an editor of standards for Internationalizing Domain Names in Applications (IDNA) and E.164 number mapping in DNS (ENUM), both standards of the Internet Engineering Task Force (IETF).

Patrik was also one of two area directors of the IETF applications area for five years, followed by being a member of the Internet Architecture Board (IAB) for three years. He served as a member of the Internet Society (ISOC) Board of Trustees from 2006 to 2009. Patrik currently serves as a member of ICANN's Security and Stability Advisory Committee (SSAC) and Root Server System Advisory Committee (RSSAC).

Patrik is an pppointed Member of the Swedish government's IT Advisory Board (IT-Rådet). He has an MSc in Mathematics from the University of Stockholm.