BUSINESS METHOD FINANCIAL PATENTS
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May 28, 2024
Total CPC G06Q Subclass (business methods) patents issued: 161
Financial industry business method patents reviewed herein: 5
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PATENT: Blockchain network interaction controller; US 11,995,618 B2; 5/28/2024; CPC G06Q 20/06; 14 claims; assigned to Visa International Service Association.
ABSTRACT: Described herein are systems and methods for virtualizing policy enforcement amongst participants of an overlay network. In some embodiments, each of the participants may maintain a separate blockchain network. The overlay network may receive smart contracts or other policy documents that include information on interactions with a particular participant or between participants. A controller, which may be implemented on any node of the overlay network, may then extract an interaction algorithm from that smart contract that may be stored in policy data to be used in completing transactions between two participants of the overlay network. In some embodiments, the policy data may include cost data which may be used to determine how two entities may interact.
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PATENT: Computer-implemented system and method for generating and extracting user related data stored on a blockchain; US 11,995,645 B2; 5/28/2024; CPC G06Q 20/3578; 12 claims; assigned to nChain Licensing AG.
ABSTRACT: A computer implemented system and a method for providing user related data, such as reputational information, on users of a blockchain involved in transactions is detailed. The method includes an approach for evaluating fulfilment of transactions, particularly in the context of contracts, and then providing a record of that on the blockchain through reputational information. As a result, at a late time, this reputational information can be retrieved. Similar reputational information for other transactions can be retrieved and linked to the same user, for instance based on the use of a hash of the master public key for a user. Aggregate reputational information can be computed from the pieces of reputational information retrieved.
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PATENT: Blockchain-based method and system for specifying the recipient of an electronic communication; US 11,995,646 B2; 5/28/2024; CPC G06Q 20/3825; 12 claims; assigned to nChain Licensing AG.
ABSTRACT: A method and corresponding system is presented for controlling a blockchain transaction output and/or specifying the recipient of the output. It also provides a method of controlling and/or generating an electronic communication. The unlocking script is provided in order to spend an output from a further transaction (Tx.sub.2) on the blockchain. The input of the transaction (Tx.sub.1) and/or the output of the further transaction (Tx.sub.2) may be associated with a tokenised asset represented on, or referenced via, the blockchain. The notification address may be associated with an asset or resource represented on the blockchain, or a controller of an asset or resource represented on the blockchain. The notification address may be a network address, a cryptographic key, a uniform resource locator (URI), email address or any other address or identifier which can be represented in the metadata of a transaction script and used as a destination for an electronic communication.
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PATENT: Systems for purchasing shares in an entity holding digital math-based assets; US 11,995,720 B1; 5/28/2024; CPC G06Q 40/04; 20 claims; assigned to Gemini IP, LLC.
ABSTRACT: Systems, methods, and program products for providing an exchange traded product holding digital math-based assets are disclosed. Shares based on digital math-based assets may be created using one or more computers by determining share price information based upon quantities of digital math-based assets held by a trust, electronically receiving a request from an authorized participant user device to purchase a quantity of shares, electronically transmitting a quantity of digital math-based assets to one or more destination digital asset accounts for receipt of digital math-based assets from the authorized participant based on the determined share price information and the requested quantity of shares, and electronically issuing shares to the authorized participant.
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PATENT: Transactionally deterministic high speed financial exchange having improved, efficiency, communication, customization, performance, access, trading opportunities, credit controls, and fault tolerance; US 11,995,722 B2; 5/28/2024; CPC G06Q 40/04; 25 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: The disclosed embodiments relate to implementation of a trading system, which may also be referred to as a trading system architecture, having improved performance which further assures transactional determinism under increasing processing transaction loads while providing improved trading opportunities, fault tolerance, low latency processing, high volume capacity, risk mitigation and market protections with minimal impact, as well as improved and equitable access to information and opportunities.
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May 21, 2024
Total CPC G06Q Subclass (business methods) patents issued: 128
Financial industry business method patents reviewed herein: 5
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PATENT: Method and system of blockchain disbursements; US 11,989,703 B2; 5/21/2024; CPC G06Q 20/0655; 8 claims; assigned to Mastercard International Incorporated.
ABSTRACT: A method for facilitating benefit disbursements through the use of tokens and blockchain includes: receiving beneficiary information from a first computing system, the beneficiary information including a beneficiary identifier; storing a blockchain data entry, the blockchain data entry including a disbursement token associated with the beneficiary information and a recipient value generated using a public key of a cryptographic key pair; receiving a redemption message from a second computing system, the redemption message including the disbursement token, a digital signature generated using a private key of the cryptographic key pair, transaction account data, and a redemption amount; validating the digital signature using the public key of the cryptographic key pair; and transmitting a transfer message to the first computing system, the transfer message including the transaction account data and the redemption amount.
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PATENT: Sharded permissioned distributed ledgers; US 11,989,704 B2; 5/21/2024; CPC G06Q 20/0655; 20 claims; assigned to Oracle International Corporation.
ABSTRACT: A sharded, permissioned, distributed ledger may reduce the amount of work and communication required by each participant, thus possibly avoiding scalability bottlenecks that may be inherent in previous distributed ledger implementations and possibly enabling the use of additional resources to translate to increased throughput. A sharded, permissioned, distributed ledger may be made up of multiple shards, each of which may also be a distributed ledger and which may operate in parallel. Participation within a sharded, permissioned, distributed ledger may be allowed only with permission of an authority. A sharded, permissioned, distributed ledger may include a plurality of nodes, each including a dispatcher configured to receive transaction requests from clients and to forward received requests to verifiers configured to append transactions to individual ones of the shards.
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PATENT: Omnibus address generation and autoconversion of cryptocurrency; US 11,989,722 B2; 5/21/2024; CPC G06Q 20/381; 18 claims; assigned to Coinbase, Inc.
ABSTRACT: Aspects of the disclosure relate to event processing. A computing platform may prefetch, prior to receipt of a purchase request, a plurality of pay to addresses (associated with an omnibus account, used to route funds from the omnibus account to a merchant account, and not associated with a particular merchant account when prefetched). The computing platform may receive, from a client, a request to make a purchase from a merchant, and may associate the client and the merchant with one of the prefetched pay to addresses/notify the client of the prefetched pay to address. The computing platform may monitor the prefetched pay to address for receipt of a predefined amount of cryptocurrency associated with the purchase. Upon detecting receipt of the predefined amount of cryptocurrency, the computing platform may transfer funds corresponding to the purchase from the omnibus account to an account for the merchant.
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PATENT: Blockchain-implemented systems and methods for secure access control; US 11,989,725 B2; 5/21/2024; CPC G06Q 20/3825; 13 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention relates to a method of enabling conditional access to resource. The condition is the performance of a task. The task can be performed by one party or entity on behalf of another party or entity. The person, device or system controlling access to the resource creates a task that includes the broadcast of a transaction on the blockchain. In particular the transaction (part of the task) has a plurality of outputs, including a locking-output. Additional transactions or mechanism are created that enable access to the resource only when the task has been completed. Access to the resource is achieved by (i) the initial broadcast of the resource that makes it conditionally available and (ii) the subsequent broadcast of the transaction, which fulfils or satisfies the condition that enables access to the resource. Multi-signatures and a refund mechanism are used by the parties to lock access to the resource. These multi-signatures are spread between the stages and transactions. The initial deposit broadcast makes the resource available, but access is prohibited because it is locked by a first multi-signature and allocated to a refund mechanism. The task, and transaction to be broadcast, are created wherein the transaction has a locking-output secured by a second multi-signature and also allocated to the refund mechanism. Access to the resource, however, requires both multi-signatures of the refund mechanism to have been signed and the broadcast of the main transaction.
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PATENT: Configurable order entry, matching, coordination, and market data intervals; US 11,989,779 B2; 5/21/2024; CPC G06Q 40/04; 16 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: Methods, system and articles of manufacture are disclosed including configurable order entry, matching, coordination and market data intervals. An example method to decouple order entry and matching of contra-side orders includes receiving a trade order during an order entry interval, wherein the order entry interval defines a first period. The example method also includes starting a matching interval at the expiration of the order entry interval, wherein the matching interval includes a second period and wherein the first period is contiguous to the second period. The example method further includes matching the trade order, during the matching interval, with one or more opposing tradable object trade orders received during the order entry interval, the trade order having a same price or same quantity as the one or more opposing trade orders.
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May 14, 2024
Total CPC G06Q Subclass (business methods) patents issued: 141
Financial industry business method patents reviewed herein: 5
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PATENT: Method, system, and media for machine learning annotation and image marketplace using blockchain ledgers; US 11,983,655 B2; 5/14/2024; CPC G06Q 10/06395; 20 claims; assigned to IBM.
ABSTRACT: A method, a computer system, and a computer program product for marketplace creation and model training in a blockchain network is provided. Embodiments of the present invention may include uploading images to a marketplace. Embodiments of the present invention may include recording references to the images on a blockchain ledger. Embodiments of the present invention may include measuring local and global annotations. Embodiments of the present invention may include determining an image quality threshold has been met. Embodiments of the present invention may include providing an annotation quality metric to the marketplace. Embodiments of the present invention may include pre-processing and standardizing the images. Embodiments of the present invention may include training a model. Embodiments of the present invention may include recording the model in the blockchain ledger. Embodiments of the present invention may include providing the model to the marketplace.
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PATENT: Bank-driven model for preventing double spending of digital currency transferred between multiple DLT networks using a trusted intermediary; US 11,983,705 B1; 5/14/2024; CPC G06Q 20/3678; 17 claims; assigned to Wells Fargo Bank.
ABSTRACT: A method for preventing the double-spending of digital currency that transfers between multiple distributed ledger technology (DLT) networks. The method includes receiving a message including a smart contract and executing the smart contract. The method further includes detecting a transaction request to transfer the first digital currency from the first DLT network to the second DLT network. The method further includes destroying the digital currency and creating, based on the unit of fiat currency, a second digital currency of a second type on the second DLT network. The method further includes transferring, responsive to detecting the transaction request, the first digital currency from the first DLT network to the second DLT network.
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PATENT: Systems and methods for addressing security-related vulnerabilities arising in relation to off-blockchain channels in the event of failures in a network; US 11,983,709 B2; 5/14/2024; CPC G06Q 20/3829; 12 claims; assigned to nChain Licensing AG.
ABSTRACT: A method in accordance with the invention includes: providing to a hub, from an enclave associated with a TEE at a node, an enclave public key; establishing a channel with the hub by broadcasting to a blockchain network a funding transaction which encumbers a digital asset with a first public key, a second public key and a third public key such that the encumbrance of the digital asset may be removed by: 1) both a first signature generated from a first private key corresponding to the first public key and a second signature generated from a second private key corresponding to the second public key; or 2) a third signature, valid for the third public key, the third public key associated with a group; receiving a commitment transaction encrypted with the enclave public key; detecting a failure; and issuing a failsafe activation request to the group using data from the enclave.
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PATENT: Hierarchy-based blockchain; US 11,983,711 B1; 5/14/2024; CPC G06Q 20/40; 20 claims; assigned to Citibank, N.A.
ABSTRACT: A computer-implemented method comprising receiving a transaction request from a first node within the plurality of nodes, the transaction request corresponding to a pending transaction between the first node and a second node; identifying a distributed ledger associated with the pending transaction, the distributed ledger including a first record having a hierarchy file indicating a hierarchy among the first node, the second node, and the third node; identifying a second record having an executable file to approve the transaction request received from the first node; executing the executable file, wherein the executable file is configured to retrieve data from a data source associated with the third node and analyze data to approve or deny the transaction request; and appending a third record comprising the set of transaction attributes to the distributed ledger.
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PATENT: Decision tree data structure based processing system; US 11,983,771 B2; 5/14/2024; CPC G06Q 40/04; 23 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: A decision tree based processing system implements a decision tree data structure to process publicly available files, such as websites suspected to contain data generated by a data transaction processing system which may be constantly fluctuating and varying. The data transaction processing system generates the data based on processing electronic data transaction request messages received over a network.
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May 7, 2024
Total CPC G06Q Subclass (business methods) patents issued: 139
Financial industry business method patents reviewed herein: 5
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PATENT: Time lock technique for securing a resource on a blockchain; US 11,978,043 B2; 5/7/2024; CPC G06Q 20/3829; 15 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention comprises a solution for securing an output (UTXO) in a single blockchain (e.g. Bitcoin) transaction (TX) so that it can only be unlocked by an authorised party at an allowed time, and in accordance with external data supplied to the transaction's locking script. The invention may comprise two steps which are implemented within a redeem script provided within the UTXO's locking script: 1) Calculation of a time-related value (which we will call T.sub.supplied) using the external data provided; and 2) use of the calculated T.sub.supplied value in a time lock technique to ensure that unlocking occurs at a time pre-determined time. The invention allows external data to be introduced into the time lock control of a transaction on the blockchain. It also includes a technique for combining absolute and relative time locks (e.g. CLTV and CSV as known in the Bitcoin protocol).
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PATENT: Client authentication using split key signing on a blockchain platform; US 11,978,044 B2; 5/7/2024; CPC G06Q 20/3829; 2 claims; assigned to nChain Corp.
ABSTRACT: An approach is disclosed on a blockchain platform for authenticating clients. A public and private key is created at a client device. The private key into is split two or more parts. The split private key part is split into to two or more client devices including a first client device and a remaining client devices. Signing to authenticate a challenge to login using a partial key part occurs at the first client device. The challenge is sent to the remaining client devices wherein the remaining client devices that sequentially sign using short range wireless network connection and respond back to the challenge to login without a password.
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PATENT: Method and system for anonymous directed blockchain transaction; US 11,978,045 B2; 5/7/2024; CPC G06Q 20/383; 12 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for posting of anonymous directed transaction includes: storing a plurality of entity profiles, each including an entity identifier and a secret value; receiving a transaction request from a first entity, the request including transaction data and a specific entity identifier associated with a second entity; identifying a specific entity profile that includes the specific entity identifier; generating a first hash value via application of one or more hashing algorithms to the transaction data; generating a second hash value via application of one of more hashing algorithms to a combination of the first hash value and the secret value included in the identified specific entity profile; and posting the first hash value and second hash value to a publicly accessible data source.
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PATENT: Event management and validation platform using a recursive hierarchic blockchain; US 11,978,118 B2; 5/7/2024; CPC G06Q 40/04; 20 claims; assigned to Bank of America Corporation.
ABSTRACT: Aspects of the disclosure relate to implementation of a recursive hierarchic blockchain for event validation and processing. A computing platform may receive event data from first and second data sources. The computing platform may store, in a first distributed ledger, an event record for each event from the first data source and may store, in a second distributed ledger, an event record for each event from both data sources. In response to determining that a validation condition for a current block of the second distributed ledger has been satisfied, the computing platform may compute a hash and generate a numeric representation of the first distributed ledger. In a new block of the second distributed ledger, the computing platform may store the hash and the numeric representation. The computing platform may write, to the new block of the second distributed ledger, additional event data from both data sources.
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PATENT: Market operation through regulation of incoming order match allocation and/or dynamic resting order match allocation priorities; US 11,978,119 B1; 5/7/2024; CPC G06Q 40/04; 26 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: The disclosed embodiments relate to regulation of a rate of incoming orders by buffering or otherwise batching orders together as they are received and subsequently forwarding batches of orders to a match engine for processing thereby in a manner which may equalize orders from traders having varying abilities to rapid submit orders or otherwise capitalize on market events. The disclosed embodiments further relate to prioritizing the matching of resting orders against an incoming order. In particular, the disclosed embodiments alter the priority of a given resting order to match against an incoming order, relative to other suitably matching resting orders, as a function of how long the orders have been resting on the order book.
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April 30, 2024
Total CPC G06Q Subclass (business methods) patents issued: 134
Financial industry business method patents reviewed herein: 5
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PATENT: Registry and automated management method for blockchain-enforced smart contracts; US 11,972,422 B2; 4/30/2024; CPC G06Q 20/3829; 19 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention relates to the fields of tokenisation, blockchain and smart contract technologies. It provides a technical arrangement which simplifies the automated management of contracts. The invention comprises a method and system which use a computer-based repository for storage of the contract. The contract is then represented by a transaction on the blockchain. Metadata within the transaction's script includes a hash of the contract and a means of identifying its location within the repository. The transaction also includes an unspent output (UTXO) which indicates its status as an open (ie not terminated) contract. The contract is terminated by spending the output at a later point in time, for example, using nLockTime+CheckLockTimeVerify (CLTV). By combining this concept with other techniques and computing components, the invention can provide a powerful mechanism for implementing various tasks such as renewing or rolling over the contract, or dividing it into sub-contracts or conditions. Furthermore, as the status and existence of the contract is evidence via the blockchain, this provides a permanent, publicly visible and non-alterable record of the contract.
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PATENT: Risk determination enabled crypto currency transaction system; US 11,972,432 B2; 4/30/2024; CPC G06Q 20/4016; 20 claims; assigned to PayPal, Inc.
ABSTRACT: Systems and methods for providing risk determination in a crypto currency transaction include receiving, through a network via a broadcast by a first payer device, a first crypto currency transaction that includes a first payee public address. A first request for a determination of risk associated with the first crypto currency transaction is then identified in the first crypto currency transaction, with the first request including risk criteria. A first payee involved in the first crypto currency transaction is then identified using the first payee public address, and first payee risk information is accessed via at least one external risk information database based on the identification of the first payee. If it is determined that the first payee risk information satisfies the at least one risk criteria in the first request, the first crypto currency transaction is provided for addition to a block in a crypto currency public ledger.
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PATENT: Managing blockchain transactions; US 11,972,481 B2; 4/30/2024; CPC G06Q 40/00; 20 claims; assigned to IBM.
ABSTRACT: An example operation may include one or more of changing a status of a current blockchain to a closed and retired status based on expiration of a limited time window, creating a genesis block associated with a new blockchain, storing a world state of the current blockchain in the genesis block, creating one or more smart contracts, storing the one or more smart contracts on the new blockchain, and initiating an open stage on the new blockchain, and the open stage permits one or more potential blockchain transactions to be written to the new blockchain.
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PATENT: Systems and methods for providing leveraged, trading-volatility-responsive, intraday balancing based on projected pricing; US 11,972,482 B2; 4/30/2024; CPC G06Q 40/04; 7 claims; assigned to Bank of America Corporation.
ABSTRACT: The disclosure provides an intra-day/hourly balancing of a fund index. The disclosure includes retrieving the value of an underlying index at a first balancing point at a point in time that is close, in time, to the balancing point and determining the value of the underlying index at a second balancing point. If the value of the underlying index increased, then the method increases an exposure to the underlying index. If the value of the underlying index decreased, then the method decreases the exposure. The method may then compare the current trading volatility of the underlying index to a historic trading volatility. If the current volatility is greater than the historic volatility, then the method decreases the leverage of the intra-day index with respect to the underlying index. If the current volatility is less than the historic volatility, then the method increases the leverage.
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PATENT: Fee/rebate contingent order matching system and method; US 11,972,484 B2; 4/30/2024; CPC G06Q 40/04; 7 claims; assigned to NYSE Chicago, Inc.
ABSTRACT: A specialized computer matching system programmed to match orders for financial instruments of any type; where orders are matched at a price equal to the best available price or within the best available prices in the market; where priority of matching orders is ranked by price; where orders at the same price may be further ranked based on other attributes; where orders may optionally specify that the order sender is willing to pay a fee to (or receive a rebate by) an Order Matching Entity (i.e., a fee/rebate contingency (FRC)); where an order's optional FRC must be met in order to match the order; and where an order which cannot be matched solely because its FRC rate prevents it from matching with another order temporarily yields priority—other than price priority—to other orders ranked below to permit those orders to be matched.
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April 23, 2024
Total CPC G06Q Subclass (business methods) patents issued: 134
Financial industry business method patents reviewed herein: 5
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PATENT: Using distributed databases for network regression analysis; US 11,966,884 B2; 4/23/2024; CPC G06Q 10/20; assigned to Bank of America Corporation.
ABSTRACT: A computing platform may communicate with a device agent to receive digital system maintenance reporting, which may include information regarding steps taken to resolve issues of a digital system during a troubleshooting process. The computing platform may analyze the steps taken, and determine whether the steps resolved the troubleshooting. The computing platform may filter ineffective steps, and store steps associated with successful solutions in one or more distributed databases. The computing platform may receive information identifying a problem faced by a different system. The computing platform may analyze the distributed database to identify similar steps that successfully resolved the problem in the past, and mitigate the problem using the similar successful steps.
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PATENT: Method and system for dispute resolution in a public blockchain; US 11,966,889 B2; 4/23/2024; CPC G06Q 20/0658; assigned to Mastercard International Incorporated.
ABSTRACT: A method for dispute resolution for a blockchain transaction includes: receiving, by a receiver of a processing server, a blockchain transaction identifier and a dispute reason code from a first computing device of a blockchain network, the blockchain transaction identifier and the dispute reason code comprising a dispute request, the blockchain transaction identifier identifying a transaction on a blockchain; transmitting, by the receiver of a processing server, the blockchain transaction identifier and the dispute reason code to a processing device of the processing server; identifying, by the processing device of the processing server, the transaction, a merchant blockchain address, and a currency amount within a blockchain data value of the blockchain based on the blockchain transaction identifier; determining, by the processing device of the processing server, the transaction is invalid; and performing, by the processing device of the processing server, a dispute resolution process for the blockchain transaction.
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PATENT: Apparatus for cryptographic resource transfer based on quantitative assessment regarding non-fungible tokens; US 11,966,894 B2; 4/23/2024; CPC G06Q 20/1235; 18 claims; assigned to Glimpse Enterprises Incorporated.
ABSTRACT: An apparatus for cryptographic resource transfer based on quantitative assessment regarding non-fungible tokens is presented. The apparatus includes at least a processor and a memory communicatively connected to the at least a processor containing instructions configuring the at least a processor to receive a user profile representing a user and an associated cryptographic security, a user digest, and a temporal resource request. The at least a processor is configured to determine a predictive quantifier of the user profile, identify a resource-backed entity to the user as a function of the predictive quantifier, wherein the resource-backed entity includes a cryptographic resource, and generate a token entry. The token entry includes a conditional trigger configured to enable a cryptographic transfer of the cryptographic security and the cryptographic resource, wherein the token entry is configured to be deployed on an immutable sequential listing.
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PATENT: Real-time processing distributed ledger system; US 11,966,914 B2; 4/23/2024; CPC G06Q 20/382; assigned to Bank of America Corporation.
ABSTRACT: A system, computer program product, and method for executing real-time processing of resource transfers using distributed ledger technology is provided. In particular, the system utilizes a private or semi-private blockchain to create a distributed ledger which comprises a record of all resource transfers between a number of entities. The real-time processing system addresses a number of computer technology-centric challenges associated with executing resource transfers. In particular, executing resource transfers on a real-time basis allows the nodes of the blockchain to more evenly distribute computing workload over time when compared to more traditional resource transfer systems that use batch processing to execute transfers.
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PATENT: System and method for preparing for a SEC financial statement audit by recording corporate governance information on an immutable blockchain; US 11,966,974 B2; 4/23/2024; CPC G06Q 40/04; 21 claims; assigned to Blackstar Enterprises Group, Inc.
ABSTRACT: The present disclosure describes systems and methods for storing pertinent company information on an immutable blockchain. Preferred embodiments disclose systems and methods of preparing for, and complying with, a SEC financial statement audit by recording corporate governance information on an immutable blockchain. The recorded information, which cannot be subsequently backdated or manipulated, provides SEC auditors compliant and accurate information, which streamlines the audit and reduces costs.
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April 16, 2024
Total CPC G06Q Subclass (business methods) patents issued: 143
Financial industry business method patents reviewed herein: 5
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PATENT: Linked blockchain structures for accelerated multi-chain verification; US 11,961,039 B2; 4/16/2024; CPC G06Q 10/0838; 23 claims; assigned to IBM.
ABSTRACT: Techniques are described for linked blockchains that allow computing devices to access information from an acceptance blockchain about acceptance reports stored in an enterprise delivery blockchain that are also linked to a product blockchain that stores information of the products of the acceptance reports. An acceptance report is indicative of operability of a product in a service provided by a service provider. A processor is configured to access the block in the enterprise delivery blockchain, retrieve the acceptance report from the block in the enterprise delivery blockchain, determine an identifier, identified in the block in the enterprise delivery blockchain, to a block in an acceptance blockchain, access the block in the acceptance blockchain via the determined identifier, retrieve from the block in the acceptance blockchain contextual information of the acceptance report, and output the acceptance report and contextual information of the acceptance report.
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PATENT: Method for paying cost of IoT device based on blockchain and merkle tree structure related thereto, and server, service providing terminal, and digital wallet using the same; US 11,961,057 B2; 4/16/2024; CPC G06Q 20/102; 6 claims; assigned to Coinplug, Inc.
ABSTRACT: A method of a payment for an Internet of Things (IoT) device is provided. The method includes steps of: a payment supporting server (a) on condition that the payment supporting server has registered certificates of the IoT device, a service providing device, and a digital wallet in a first blockchain, manages their transaction IDs, has registered a representative hash value in a second blockchain, manages their transaction IDs, and manages link information between the IoT device and the digital wallet, confirming validity of a billing transaction, and (b) acquiring identification information on the digital wallet; and (c) paying the billing detail using the digital wallet, registering its payment result in the first blockchain, registering in the second blockchain, if one anchoring condition is satisfied, a first representative hash value, and transmitting the payment result to the service providing device, the IoT device, and the digital wallet.
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PATENT: Cryptocurrency system; US 11,961,068 B2; 4/16/2024; CPC G06Q 20/3672; 12 claims; assigned to Newtown Partners LTD.
ABSTRACT: A computer-implemented method for managing cryptocurrency is disclosed. A plurality of users are provided with an in-marketplace wallet suitable for storing linked digital tokens that are linked in value to cryptocurrency tokens and are required to transact on a digital marketplace platform. A cryptocurrency reserve is provided for storing cryptocurrency tokens. Responsive to a user purchasing linked digital tokens from a marketplace store, linked digital tokens are transferred to the in-marketplace wallet an equivalent value of cryptocurrency tokens are transferred to the cryptocurrency reserve. Responsive to a user withdrawing a number of linked digital tokens from the in-marketplace wallet, the desired number of linked digital tokens are removed from the user's in-marketplace wallet and an equivalent value of cryptocurrency tokens are transferred from the cryptocurrency reserve to an out-of-marketplace wallet of the user for storing cryptocurrency tokens outside of the marketplace platform.
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PATENT: Techniques for conducting transactions utilizing cryptocurrency; US 11,961,072 B2; 4/16/2024; CPC G06Q 20/38; 20 claims; assigned to Visa International Service Association.
ABSTRACT: Embodiments of the invention are directed to systems and methods for conducting a transaction utilizing a cryptocurrency. The user may fund a cryptocurrency account with his pre-existing cryptocurrency. An issuer may purchase cryptocurrency within a cryptocurrency exchange. The user may then utilize a payment device (e.g., a Crypto Debit Card) that is associated with a cryptocurrency balance to conduct a transaction with a merchant for goods and/or services. An authorization request message may be transmitted to the authorizing entity computer. The authorizing entity computer may determine a cryptocurrency amount corresponding to the fiat currency transaction amount of the authorization request message. A sell request message may be transmitted to an exchange that facilitates the sale of the cryptocurrency amount. If the sale is successful, the authorizing entity computer may transmit an authorization response message indicating that the transaction is approved and the merchant may release the purchased goods and/or services.
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PATENT: Randomization of orders at matching in electronic trading systems; US 11,961,140 B2; 4/16/2024; CPC G06Q 40/04; 20 claims; assigned to Chicago Mercantile Exchange, Inc.
ABSTRACT: The disclosed embodiments relate to a latency floor mechanism for processing incoming orders to an electronic trading system which impart a delay on orders, not when they are received, but when they are matched by the match engine/CLOB thereby imparting zero added latency between order submission/modifications/cancellations and price market data publication by the electronic trading system because the disclosed randomization processing delay applies only to matched orders, which represent a small fraction of the market events.
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April 9, 2024
Total CPC G06Q Subclass (business methods) patents issued: 139
Financial industry business method patents reviewed herein: 5
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PATENT: Systems and methods for cryptocurrency pool management; US 11,954,672 B1; 4/9/2024; CPC G06Q 20/3674; 20 claims; assigned to Coinbase, Inc.
ABSTRACT: A multitenant custodial wallet that provides users with a flexible primitive for managing discrete sets of cryptographic keys to interact with one or more blockchain protocols. By recognizing a pool primitive (e.g., pool object), a wallet can manage a set of keys as a single pool, in addition to managing keys individually.
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PATENT: Method and system for user-based distributed ledgers; US 11,954,673 B2; 4/9/2024; CPC G06Q 20/3674; 16 claims; assigned to Mastercard International Incorporated.
ABSTRACT: A method for processing cryptographic currency transactions through user-based blockchain ledgers includes: receiving, by blockchain node in a blockchain network, a new cryptographic currency transaction from a first computing device including unspent transaction outputs, a sender public key, receiver public key, destination address, and cryptographic currency amount; identifying, by the blockchain node, a sending blockchain associated with the sender public key including the unspent transaction outputs; validating, by the blockchain node, the sending blockchain by generating a hash value using the sending blockchain and comparing the generated hash value to a historic sender hash value associated with the sender public key; generating, by the blockchain node, a new sender hash value by hashing a combination of the sending blockchain and the new cryptographic currency transaction; and transmitting, by the blockchain node, the generated new sender hash value to a plurality of additional nodes in the blockchain network.
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PATENT: Method and system for communication between blockchains on heterogeneous blockchain networks; US 11,954,678 B2; 4/9/2024; CPC G06Q 20/388; 14 claims; assigned to Mastercard International Incorporated.
ABSTRACT: A system for communicating between blockchains on heterogeneous blockchain networks. The system can include a sending blockchain configured to transmit a first message via a sending blockchain protocol, wherein the sending blockchain forms a part of a sending blockchain network. The system can include a sending adapter node configured to receive the first message from the sending blockchain and translate the first message from the sending blockchain protocol to an adapter protocol. The system can include a receiving adapter node configured to receive the first message from the sending adapter node and translate the first message from the adapter protocol to a receiving blockchain protocol. The system can include a receiving blockchain configured to receive the first message from the receiving adapter node, and validate the first message, wherein the receiving blockchain forms a part of a receiving blockchain network.
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PATENT: Blockchain-enhanced open internet of things access architecture; US 11,954,681 B2; 4/9/2024; CPC G06Q 20/401; 12 claims; assigned to Southeast University (CN)l
ABSTRACT: A blockchain-enhanced open Internet of Things (IoT) access architecture includes an access point, a number of IoT devices, a hash access mechanism, a blockchain mining network, and a blockchain enabling mechanism that manages network access of the IoT device. The blockchain-enhanced open IoT access architecture provided in the present invention provides a secure, reliable, fair, and short-packet access service for a plurality of devices in an IoT network by using features of a blockchain such as distributed storage, tamper-proofing, and traceability, thereby promoting the trust and cooperation between the devices and ensuring the security and efficiency of the network in the large-scale untrustworthy IoT network. The blockchain-enhanced open IoT access architecture in the present invention can provide secure and reliable IoT access with low latency and a high value in practice.
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PATENT: Blockchain consumer ledger; US 11,954,697 B2; 4/9/2024; CPC G06Q 30/0201; 11 claims; assigned to NCR Corporation.
ABSTRACT: Disclosed herein are systems and methods for interacting with a consumer ledger. The systems and methods include: receiving a copy of the consumer ledger from one of a plurality of miners; adding a transaction to the consumer ledger; and transmitting the consumer ledger to the plurality of miners for conformation.
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April 2, 2024
Total CPC G06Q Subclass (business methods) patents issued: 119
Financial industry business method patents reviewed herein: 5
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PATENT: Cryptographically secure booster packs in a blockchain; US 11,948,132 B2; 4/2/2024; CPC G06Q 20/065; 27 claims; assigned to Fall Guy LLC.
ABSTRACT: A facility for cryptographically securing booster packs using tear transactions is described.
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PATENT: Method and device for performing credit evaluation on work publisher on basis of blockchain; US 11,948,155 B2; 4/2/2024; CPC G06Q 30/018; 27 claims; assigned to Advanced New Technologies Co., Ltd.
ABSTRACT: Disclosed are a method and device for performing credit evaluation on a work publisher on the basis of a blockchain. The method and device can perform originality analysis on a target work published by a target service node to the blockchain so as to obtain an originality representation value corresponding to the target work. If the originality representation value is low, a copyright credit score corresponding to the target service node is deducted. The deduction is subjected to consensus verification performed by a plurality of service nodes and can only be made public in the blockchain after the consensus verification is successful. The blockchain can publicize a copyright credit score deduction record corresponding to the target service node, based on which the copyright credit score corresponding to the target service node can be determined. The lower the copyright credit score, the poorer the credit level of the target service node.
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PATENT: Method and system for providing high-speed storage and retrieval of information; US 11,948,192 B2; 4/2/2024; CPC G06Q 40/04; 18 claims; assigned to JPMorgan Chase Bank, N.A.
ABSTRACT: A method for providing high-speed storage and retrieval of information from a plurality of sources is disclosed. The method includes retrieving data from the sources; identifying a deterministic perfect hash function based on the retrieved data for stock symbols and corresponding stock information, the perfect hash function relating to a mapping of distinct elements in the corresponding stock information with the stock symbols; generating, by using the retrieved data, a parameter that relates to an instruction to calculate the identified perfect hash function, the parameter including a host file, a simulation file, and a hash state file; programming a register and a memory that are associated with the processor by using the parameter; and determining, via the programmed register and the programmed memory, a hash value for incoming stock symbols, the hash value relating to a symbol index that locates information corresponding to the incoming stock symbols.
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PATENT: System and method for securities finance smart contracts on blockchains and distributed ledgers; US 11,948,193 B2; 4/2/2024; CPC G06Q 40/04; 28 claims.
ABSTRACT: A blockchain-based system and method for enforcing a smart contract on a network comprising one or more cryptographically-signed blocks. The systems and method permit an original lender or regulatory body to manage risk by tracing a security loan from end-to-end. The system and method also dynamically tracks the value of the loan collateral and if the collateral falls below a predetermined a minimum collateral value threshold within a range of tolerance the system automatically transmits recall and stop trade orders to the relevant parties. In addition, as the chain of transactions grow, the system and method continue to add to an immutable easily verifiable blockchain which facilitates verification and regulatory compliance.
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PATENT: Blockchain instrument for transferable equity; US 11,948,194 B1; 4/2/2024; CPC G06Q 40/04; 20 claims; assigned to Equity Shift, Inc.
ABSTRACT: Systems and methods for offering and purchasing tokenized securities on a blockchain platform meeting current and future federal, state, and offering and holding entity rules and regulations. Tokenized securities purchased during or after the tokenized securities offering are tradable on a secondary market. The server computer of the tokenized securities provides an automated transfer capability for tokenized securities holders.
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March 26, 2024
Total CPC G06Q Subclass (business methods) patents issued: 172
Financial industry business method patents reviewed herein: 5
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PATENT: Intelligent employment-based blockchain; US 11,941,583 B1; 3/26/2024; CPC G06Q 10/105; 16 claims; assigned to Massachusetts Mutual Life Insurance Company.
ABSTRACT: A method comprises receiving a request to generate a customized dataset comprising data stored onto a blockchain; retrieving user work history data associated with a user from one or more block instances of the blockchain; in response to presenting the user work history data on a display of the second computing device, receiving a selection of a subset of the user work history data from the second computing device; generating a blockchain address corresponding to one or more hash values of a subset of the one or more block instances associated with the selection of the subset of the user work history data; and transmitting the blockchain address to the second computing device.
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PATENT: Application framework using blockchain-based asset ownership; US 11,941,613 B2; 3/26/2024; CPC G06Q 20/3678; 20 claims; assigned to NASDAQ, Inc.
ABSTRACT: Systems and methods are provided for recording ownership information in a distributed ledger (such as a blockchain), and for performing application processing utilizing the distributed ledger. An example server computer system is configured to: record on a blockchain ownership information of an asset; to configure, for each owner of the asset, a digital wallet associated with a private cryptographic key and at least one blockchain address; using a blockchain address from a digital wallet to access ownership information in the blockchain; perform application processing using the accessed ownership information; and record in the blockchain, updated ownership information or other information associated with the ownership information in accordance with the performed application processing.
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PATENT: Validation and storage of transaction data for a blockchain; US 11,941,619 B2; 3/26/2024; CPC G06Q 20/3829; 20 claims; assigned to PayPal, Inc.
ABSTRACT: A system includes a memory and a processor configured to execute computer instructions stored in the memory that when executed cause the system to perform operations. The operations include receiving transaction data associated with a transaction via a transaction component. The operations include incorporating at least a portion of the transaction data into a security process associated with challenge-response authentication of a data block for the transaction data. The data block includes cryptographic hash data for another data block in a blockchain associated with the data block. The operations include validating the data block associated with the blockchain based on the security process.
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PATENT: Event triggered trading; US 11,941,692 B2; 3/26/2024; CPC G06Q 40/04; 11 claims; assigned to Chicago Mercantile Exchange, Inc.
ABSTRACT: Networks, systems and methods for event triggered trading of investment vehicles are disclosed. Orders that are conditioned upon events occurring outside a market may be submitted to an exchange. The conditional orders may be held or stored until the occurrence or non-occurrence of the event. An event data feed is provided to provide information identifying the occurrence or non-occurrence of the event. In response to receiving information via the data feed identifying the event, the orders conditioned upon the event will be triggered, matched, and executed.
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PATENT: Measuring risk tolerance using virtual or augmented reality view of simulated outcome; US 11,941,700 B1; 3/26/2024; CPC G06Q 40/06; 18 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: One embodiment relates to a computing system. The computing system includes a risk analysis circuit. The risk analysis circuit is configured to simulate a plurality of investment outcomes. The risk analysis circuit is configured to display at least one augmented reality or virtual reality depiction of at least one of the plurality of investment outcomes via a display device. The risk analysis circuit is configured to monitor a reaction of a user to the displayed augmented reality or virtual reality depictions. The risk analysis circuit is configured to generate a user reaction score based on the reaction of the user. The risk analysis circuit is configured to generate an overall score for each of the plurality of investment outcomes by weighing the user reaction score and investment outcome.
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March 19, 2024
Total CPC G06Q Subclass (business methods) patents issued: 175
Financial industry business method patents reviewed herein: 5
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PATENT: Delegated off-chain payments using cryptocurrencies; US 11,935,042 B2; 3/19/2024; CPC 20/401; 8 claims; assigned to NEC Corporation.
ABSTRACT: A method for securing an interblockchain transaction includes receiving, from a first user application, a registration request including a first permissioned blockchain public key and a first permissionless blockchain public key. The method also includes performing, by the processing circuitry, receiving, from a second user application, a second registration request including a second permissioned blockchain public key and a second permissionless blockchain public key. The permissioned blockchain public keys are valid on the permissioned blockchain and the permissionless blockchain public keys are valid on the permissionless public blockchain. In addition, the method includes receiving, from the first user application, a transaction identification, the transaction identification identifying a first transfer transaction executed on the permissionless public blockchain. The transaction identification identifies the first and second permissionless blockchain public keys.
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PATENT: Managing blockchain-based trustable transaction services; US 11,935,048 B2; 3/19/2024; CPC 20/389; 19 claims; assigned to Alipay (Hangzhou) Information Technology Co., Ltd.
ABSTRACT: Disclosed herein are methods, systems, and apparatus, including computer programs encoded on computer storage media, for managing blockchain-based trustable transaction services. One of the methods includes: storing order data of an order between a buyer and a seller on a blockchain of a blockchain network, the order data including one or more payment conditions and data of a trustable undertaking (TU) service for the order, verifying that the buyer has the TU service for the order guaranteed by the buyer financial institution, generating a smart contract for the order based on the order data on the blockchain, and executing the smart contract to automatically instruct the buyer financial institution to make a payment of the order for the buyer to the seller according to the TU service for the order in response to determining that a payment condition for the payment specified in the smart contract is met.
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PATENT: Leveraging blockchain based machine learning modeling for expense categorization; US 11,935,050 B2; 3/19/2024; CPC 20/389; 21 claims; assigned to Capital One Services, Ltd.
ABSTRACT: Systems and methods disclosed herein provide automatic expense categorization of transactions or expenditures based on a machine learning (ML) model trained using anonymized transactional data for expenditures that are stored in a public blockchain. The anonymized transactional data for the expenditure and the expense category, may be distributed throughout the blockchain network and recorded in the blockchain. In some implementations, an expenditure may be submitted to the blockchain network for expense categorization. The transactional data for the expenditure may be anonymized to remove confidential and personal identifying information (PII) before it is distributed throughout the blockchain network. Each participating node of the blockchain network may utilize the ML model to identify an expense category for the expenditure. The participating nodes may provide a consensus mechanism in order to arrive at a shared understanding of how to categorize the expenditure.
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PATENT: Unpriced order auction and routing; US 11,935,121 B2; 3/19/2024; CPC 40/04; 21 claims; assigned to NYSE Group, Inc.
ABSTRACT: An unpriced order auction and related market center and process are disclosed which allow posting market centers (e.g., exchanges) to schedule an auction that includes unpriced (Market) orders only. Such unpriced order auction executes at the midpoint of the NBBO, ensuring that the cross reflects the best prices in the entire marketplace, while discouraging the manipulation of the auction price on the posting market center. The disclosed auction also executes concurrently, but separately from the regular continuous matching process.
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PATENT: Blockchain systems and methods for managing usage-based contracts; US 11,935,128 B2; 3/19/2024; CPC 40/08; 20 claims; assigned to State Farm Mutual Automobile Insurance Company.
ABSTRACT: A system for generating and managing usage-based contracts using blockchains configured to (i) store an insurance contract for a currently occurring or upcoming trip, where the insurance contract is to insure the driver, passenger, and/or vehicle during the trip, where the insurance contract includes terms, conditions, or other clauses (e.g., mileage limitations, limitations on autonomous vehicle operation, etc.) and is in a blockchain structure, and where several nodes store copies of the insurance contract in the blockchain structure; (ii) receive, from the driver and/or (autonomous) vehicle, a requested modification of one or more terms, conditions, or other clauses of the insurance contract, (iii) transmit the requested modification to an insurance auction network, (iv) receive a response to the request from the insurance auction network; and (v) store the response in a new block in the insurance contract (e.g., a smart contract) to facilitate providing trip insurance in a transparent manner.
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March 12, 2024
Total CPC G06Q Subclass (business methods) patents issued: 139
Financial industry business method patents reviewed herein: 5
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PATENT: Deploying physical diamond tokens on a blockchain; US 11,928,674 B2; 3/12/2024; CPC G06Q 20/3825; 26 claims; assigned to Diamond Standard Inc.
ABSTRACT: A diamond asset comprising one or more diamonds and an encryption chip is used to asset-back a cryptographic token that can be used to conduct transactions. The cryptographic token is written to a blockchain using a smart contract that is configured to enable a transaction associated with the token in response to two or more of: a signature by the encryption chip, a signature by the owner of the diamond asset, and a validation of a visual layout of the diamond asset.
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PATENT: Hierarchy-based distributed ledger; US 11,928,677 B2; 3/12/2024; CPC G06Q 20/389; 19 claims; assigned to Citibank, N.A.
ABSTRACT: A computer-implemented method comprising receiving a request to execute a transaction transferring transaction data from a first account to a second account associated with a second computing device in communication with a distributed ledger, the request comprising an identification of the first account and the second account; identifying a third account associated with a third computing device in communication with the distributed ledger; retrieving first account data for the first account and third account data for the third account from the distributed ledger; comparing a first value from the first account data and a third value from the third account data to a threshold; determining the transaction satisfies a transaction policy; and generating a record in the distributed ledger indicating the transaction transferring the transaction data from the first account to the second account in response to the determination that the transaction satisfies the transaction policy.
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PATENT: Systems and methods for expediting math-based currency transactions; US 11,928,687 B1; 3/12/2024; CPC G06Q 20/405; 18 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Systems, methods, and computer-readable storage media utilized in math-based currency (MBC) exchange utilizing MBC transaction guarantees. One method includes receiving, from a merchant point of sale (POS) terminal, a payment reimbursement request comprising a guarantee identifier associated with an MBC transfer. The method further includes determining, utilizing the guarantee identifier, transaction information. The method further includes determining, utilizing the transaction information, the guarantee identifier is associated with a failed transaction based on accessing and analyzing a plurality of disputed transactions on an MBC blockchain. The method further includes, in response to identifying the failed transaction, initiating an MBC payment from the financial computing system to an MBC address of a merchant. The method further includes providing, to the merchant POS terminal, a payment confirmation.
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PATENT: Virtual trading floor; US 11,928,731 B1; 3/12/2024; CPC G06Q 40/04; 14 claims; assigned to Cboe Exchange, Inc.
ABSTRACT: A method for virtual floor trading implemented via an exchange system includes establishing a secure connection with a first market participant and transmitting, to a first to a computing device associated with a first market participant, data causing a graphical user interface (GUI) of the computing device to render a graphical representation of a virtual trading floor associated with the exchange system. The method also includes receiving a first order and transmitting, to a second computing device associated with a second market participant, data causing a GUI of the second computing device to render a second graphical representation of the virtual trading floor comprising a first virtual trader associated with the first market participant. The method includes receiving, from the second computing device, a second order, determining that the second order matches the first order, and executing a transaction based on the first order and the second order.
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PATENT: Method and apparatus for scannable non-fungible token generation; US 11,928,748 B1; 3/12/2024; CPC G06Q 50/184; 16 claims; assigned to Blockchain Life, LLC.
ABSTRACT: An apparatus and method for scannable non-fungible token generation, the apparatus including at least a processor and a memory communicatively connected to the processor. The memory containing instructions configuring the processor to receive a creative work datum, determine a creative work class as a function of the creative work datum, generate a creative work token as a function of the creative work datum, and store the creative work token in an immutable sequential listing, where storing the creative work token includes generating a smart contract associated with the creative work datum, the smart contract also including the creative work class. The processor further configured to generate a machine-readable code as a function of the creative work token and the creative work class and transmit the machine-readable code to an output device.
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March 5, 2024
Total CPC G06Q Subclass (business methods) patents issued: 194
Financial industry business method patents reviewed herein: 5
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PATENT: System and method for authorizing blockchain network transactions; US 11,922,402 B2; 3/5/2024; CPC G06Q 20/36; 28 claims; assigned to Frontage Road Holdings, LLC.
ABSTRACT: Systems and methods are provided that authorize blockchain network transactions based on a work requirement. A blockchain network has a plurality of nodes. At least one node of the plurality of nodes is configured to determine whether a token has satisfied a work requirement. The work requirement represents participation of performing work within the blockchain network. The at least one node is further configured to approve a transaction as a function of determining that the work requirement has been satisfied and, to disapprove the transaction as a function of determining that the work requirement has not been satisfied. By enabling the transaction to be approved based on a work requirement, the token, for example, can be authenticated as having an inherent functional value. In this way, the blockchain network or token exchange can attest to the token not being a security, which would be subject to federal securities and regulations.
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PATENT: Using an internal ledger with blockchain transactions; US 11,922,403 B2; 3/5/2024; CPC G06Q 20/3674; 17 claims; assigned to PayPal, Inc.
ABSTRACT: Systems, methods, and computer-readable media disclosed herein relate to reducing computation and computing resources for certain blockchain related transactions. Specifically, software algorithms and architecture allow some transactions to avoid the need for recordation on a blockchain, which can be computationally expensive both for a requesting device and for various nodes on the blockchain. Thus, a computer system may receive indications of incoming transactions transferring digital assets to particular user accounts, and in response to requests from user accounts, the computer system facilitates one or more internal transactions between those accounts. In response to a request from a particular internal user account, the computer system may perform an outgoing transaction transferring one or more digital assets to an external user account from one or more internal user accounts. The incoming transactions and outgoing transaction are recorded on the blockchain, but the internal transactions are recorded on an internal ledger rather than the blockchain, saving computational power and improving computer operations.
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PATENT: Method and system for payment for central bank digital currency; US 11,922,404 B2; 3/5/2024; CPC G06Q 20/3678; 8 claims; assigned to Line Plus Corporation.
ABSTRACT: Payment methods and systems for processing a payment using a Central Bank Digital Currency (CBDC) without a double payment in an offline situation (e.g., in a situation in which a terminal of a user is unable to be connected) to a server through a network may be provided.
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PATENT: System and method for performing transactions with exchangeable cryptocurrency and legal tender currency; US 11,922,405 B2; 3/5/2024; CPC G06Q 20/38; 11 claims.
ABSTRACT: A system and method for performing transactions with exchangeable cryptocurrency and legal tender, and more particularly relates to system and method that utilizes a complementary legal tender currency subsystem for operating a banking module, a vaulting module, a legal tender fund module that has accounting information for complementary legal tender, a cache fund module, a crypto-currency module that has accounting information for virtual monetary tokens, a crypto-shares module that has accounting information for virtual share tokens, an escrow fund module, a trust fund module, a payment processing module, banking module, and vaulting module. The modules store, exchange, and maintain accounts for cryptocurrency and legal tender through a payment processing module. The payment processing module allows a customer and manager to transact for products and services through legal tender and cryptocurrency; and then generate revenue for the merchant through affiliate profits, trading the currencies for profit, and lower transaction fees.
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PATENT: System and method for optimizing data writing to a blockchain; US 11,922,414 B2; 3/5/2024; CPC G06Q 20/389; 20 claims; assigned to PayPal, Inc.
ABSTRACT: A mempool of a miner of a blockchain system is accessed. The mempool contains at least a first transaction and a second transaction. A determination is made that the first transaction and the second transaction are related to each other. In response to the determination, the first transaction and the second transaction are linked. The linking of the first and second transactions comprises aggregating data associated with the first transaction and the second transaction into an aggregated data set. The aggregated data set is written into a single block of the blockchain system.
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February 27, 2024
Total CPC G06Q Subclass (business methods) patents issued: 175
Financial industry business method patents reviewed herein: 5
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PATENT: Check tampering prevention using blockchain; US 11,915,208 B2; 2/27/2024; CPC G06Q 20/042; 20 claims; assigned to Capital One Services, LLC.
ABSTRACT: Various embodiments are directed to techniques for ensuring that a negotiable instrument has not been altered between the time the instrument leaves the hands of the payor and when the check is presented for redemption by the payee by recording an image of the check in a data block in a blockchain and retrieving the image when the check is presented for redemption for comparison with the check. A match between the stored image and the check indicates that no alteration of the check has occurred.
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PATENT: Systems and methods for domestic and/or cross border blockchain transaction solutions involving central bank digital currency; US 11,915,213 B2; 2/27/2024; CPC G06Q 20/0655; 22 claims; assigned to TraDove, Inc.
ABSTRACT: Systems and methods are provided for processing global CBDC transactions in a blockchain supported network, where domestic and foreign banking institutions may provide mutual hosting of a consortium blockchain to allow more seamless and direct CBDC supported transactions, and CBDC exchanges in real-time or near-real time.
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PATENT: Method and system for prevention of lost currency in blockchain networks to missing wallets; US 11,915,228 B2; 2/27/2024; CPC G06Q 20/0674; 16 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency includes receiving a new blockchain transaction by a blockchain node in a blockchain network, confirming the new blockchain transaction including identifying a precedence transaction that was previously conducted and stored in the blockchain that involves both blockchain wallets included in the new blockchain transaction, including the new blockchain transaction in a new block that is generated, and distributing the new block to additional nodes in the blockchain network for confirmation and addition to the blockchain.
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PATENT: Blockchain-implemented systems and methods for concurrent bytecode interpretation; US 11,915,238 B2; 2/27/2024; CPC G06Q 20/401; 17 claims; assigned to nChain Licensing AG.
ABSTRACT: Computer implemented methods are provided that create and/or validate a spending blockchain transaction that includes i) a plurality of locking scripts each representing an instance of an execution thread (which can be execution threads that are forked from an execution thread represented by a locking script of a previous blockchain transaction and/or execution threads of at least one previous blockchain transaction that are managed and/or controlled for inter-thread communication and control) or ii) a locking script representing an instance of an execution thread joined from a plurality of execution threads represented at least one previous blockchain transaction. Once created and/or validated, the spending blockchain transaction can be communicated on a blockchain network for storage in a blockchain ledger. The blockchain transactions can implement thread-specific locking scripts and associated fork, join and barrier constructs for concurrent or asynchronous threads of execution. The transactions can be validated and stored in a blockchain ledger. The blockchain transactions can be used as part of a smart contract.
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PATENT: System and method for analyzing credibility of cryptocurrency-related information; US 11,915,253 B2; 2/27/2024; CPC G06Q 30/0202; 20 claims; assigned to Capital One Services, LLC.
ABSTRACT: Embodiments disclosed herein provide for analyzing cryptocurrency-related information using artificial intelligence. The system and methods provide for: a credibility analysis engine configured to determine the credibility of the cryptocurrency-related information; an artificial intelligence engine configured to predict a cryptocurrency market trend based on the credibility of the cryptocurrency-related information; and a processor is configured to generate and execute a personalized trading decision based on the predicted cryptocurrency market trend.
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February 13, 2024
Total CPC G06Q Subclass (business methods) patents issued: 219
Financial industry business method patents reviewed herein: 5
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PATTENT: Systems and methods for domestic and/or cross border blockchain transaction solutions involving central bank digital currency; US 11,900,338 B2; 2/13/2024; CPC G06Q 20/0655; 27 claims; assigned to TraDave, Inc.
ABSTRACT: Systems and methods are provided for processing global CBDC transactions in a blockchain supported network, where domestic and foreign banking institutions may provide mutual hosting of a consortium blockchain to allow more seamless and direct CBDC supported transactions, and CBDC exchanges in real-time or near-real time.
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PATENT: Implementing logic gate functionality using a blockchain; US 11,900,364 B2; 2/13/2024; CPC G06Q 20/3678; 23 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention presents a solution in which blockchain Transactions are created to implement the functionality of a logic gate. The invention may be implemented on the Bitcoin platform or an alternative blockchain platform. The transaction includes a locking script which comprises instructions selected so as to implement the functionality of a logic gate such as OR, AND, XOR, NOT and so on. In some examples, the instructions may be provided in a hashed form. When the script is executed (because a second transaction is attempting to spend the output associated with the locking script) the inputs will be processed by the conditional instructions to provide an output of TRUE or FALSE. The second transaction is transmitted to the blockchain network for validation and, if determined to be valid, it will be written to the blockchain. Validation of the second transaction can be interpreted as a TRUE output. Thus, the locking script of the first transaction provides the functionality of the desired logic gate. The invention provides numerous advantages and can be used in a wide variety of applications, such as for the implementation of control systems and processes.
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PATENT: Method and system for enabling traceable privacy-maintaining multi-hop offline transactions in digital currencies; US 11,900,367 B2; 2/13/2024; CPC G06Q 20/3825; 18 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for processing offline cryptocurrency transfers includes: receiving, by a receiver of a computing device, a first transfer message, wherein the first transfer message is cryptographically signed using a first private key of a first key pair; validating, by a processor of the computing device, the cryptographic signature of the first transfer message using a first public key of the first key pair; storing, in a memory of the computing device, the validated first transfer message; receiving, by an input device of the computing device, a transfer instruction, the transfer instruction including at least a communication address; and electronically transmitting, by a transmitter of the computing device, the validated first transfer message to an external device based on at least the communication address.
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PATENT: Blockchain agnostic token network; US 11,900,373 B2; 2/13/2024; CPC G06Q 20/401; 20 claims; assigned to Block, Inc.
ABSTRACT: A blockchain agnostic token network is described. In an example, a request to purchase a non-fungible token (NFT) minted on a blockchain from a seller is received. Based at least in part on context data associated with at least one of the user, the seller, or a digital asset associated with the NFT, a plurality of available blockchains is determined for holding the NFT. Information associated with the plurality of blockchains is surfaced and one of the plurality of blockchains is determined for holding the NFT. Based at least in part on the determined blockchain, the NFT is transferred to the determined blockchain and associated with a user account for subsequent viewing.
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PATENT: Blockchain architecture with record security; US 11,900,380 B2; 2/13/2024; CPC G06Q 20/4016; 19 claims; assigned to Visa International Service Association.
ABSTRACT: Described herein is a system in which an electronic record is stored within a distributed environment. In this system, a validation node may receive a transaction record from an acceptance node. The validation node may verify that the acceptance node is authorized 5 to participate in a blockchain network, identify a user associated with the transaction record, and append the transaction record to an electronic record. The transaction record may be associated with a digital signature formed by hashing multiple data elements, and then encrypting the hashed data elements using a private encryption key.
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Among the several thousand patents the USPTO grants each week are usually 100 plus business method patents. Among these are usually a number in the financial area. In the USPTO's current categorization system, business method patents are generally categorized as a subgroup of Subclass/Subgroup CPC G06Q. A sampling of recent financial-related business method patents are summarized on this webpage.
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February 6, 2024
Total CPC G06Q Subclass (business methods) patents issued: 158
Financial industry business method patents reviewed herein: 5
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PATENT: Forcing the injection of a previous transaction's bytecode into a blockchain transaction; US 11,893,582 B2; 2/6/2024; CPC G06Q 20/389; 15 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention relates to distributed ledge technologies such as consensus-based blockchains. Methods for causing an injection of a serialized previous transaction into a locking script are described. The invention is implemented using a blockchain network, which may be, for example, a Bitcoin blockchain. A first transaction to validate is received at a node in a blockchain network, with the first transaction including a first script. The first script, as a result of being executed, causes the node to at least obtain a first set of field values corresponding to the first transaction and obtain a second set of field values corresponding to a particular transaction. A second transaction is obtained, with the second transaction having been validated and including a second script. The second script, as a result of being executed, causes the node to at least obtain the first set of field values and the second set of field values of the particular transaction supplied as a result of execution of the first script, extract a transaction identifier from the first set of field values, and determine, based at least in part on the second set of field values, that the particular transaction corresponds to the transaction identifier. The first transaction is validated by executing the first script and the second script.
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PATENT: Method for creating commodity assets from unrefined commodity reserves utilizing blockchain and distributed ledger technology; US 11,893,626 B2; 2/6/2024; CPC G06Q 30/0645; 20 claims; assigned to Stichting IP-Oversight.
ABSTRACT: A token system and method, employing a token representing an interest in a smart contract, comprising: a distributed ledger, storing parameters of a smart contract, the smart contract representing an agreement, secured by a security interest in property, to execute the security interest unless a token is returned within a period; a communication port configured to interface with an automated communication network for communications between a plurality of cryptographic hardware processors; and an automated distributed virtual state machine, hosted by the plurality of cryptographic hardware processors, employing a distributed consensus model for transaction validation, the automated distributed virtual state machine being configured to: communicate distributed consensus messages through the automated communication network; communicate the token; execute the smart contract defined by the parameters, receiving inputs and producing outputs on a blockchain; and communicate an immutable message for exercise of the security interest.
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PATENT: Systems and methods for cryptographic trading; US 11,893,637 B2; 2/6/2024; CPC G06Q 40/04; 20 claims; assigned to Coinbase, Inc.
ABSTRACT: A system and method that relies upon smart contracts to facilitate cryptocurrency trades through a plurality of different exchanges. The system and method preferably operate on the blockchain.
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PATENT: System and method for content stake via blockchain; US 11,893,638 B2; 2/6/2024; CPC G06Q 40/04; 22 claims; assigned to Verasity Limited.
ABSTRACT: A content stake offering system is disclosed. The content stake offering system includes a content stake offering module, comprising computer-executable code stored in non volatile memory, a processor, and a plurality of computing devices. The content stake offering module, the processor, and the plurality of computing devices are configured to receive a request to sell a stake of content, determine a value of the content, generate a stake offering based on the value of the content, and update the value of the content. Determining the value of the content includes transferring data of a piece of content between the plurality of computing devices, recording a content data, which corresponds to the transferred data of the piece of content, in a database chunk, hashing the database chunk into a hashed database chunk, and appending the hashed database chunk to a block on a blockchain.
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PATENT: System and method for processing a trade order; US 11,893,639 B2; 2/6/2024; CPC G06Q 40/04; 28 claims; assigned to Intercontinental Exchange Holdings, Inc.
ABSTRACT: Systems and apparatus for processing a trade order include a computer configured for receiving market data for a financial asset, receiving pricing parameters and receiving proposed order quantity and price data. The computer is further configured for constructing proposed trades based on the proposed order quantity and price data, and for calculating a theoretical price for the financial asset based on the market data, pricing parameters as well as the proposed order price data. In addition, the computer is configured for comparing the constructed trades with the theoretical price, and displaying market data indicators relative to the theoretical price indicators based on the comparison.
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January 30, 2024
Total CPC G06Q Subclass (business methods) patents issued: 186
Financial industry business method patents reviewed herein: 5
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PATENT: Generating and applying a prediction model based on blockchain data; US 11,887,037 B2; 1/30/2024; CPC G06Q 10/67; 29 claims; assigned to Oracle International Corporation.
ABSTRACT: Generating and applying a prediction model based on blockchain data is disclosed. Based on blockchain data related to historical invoices, a prediction model is generated using machine learning. The prediction model is used to generate a recommendation for a particular entity to obtain a target funding amount by a target funding date. The prediction model is applied to the particular entity's outstanding invoices. Based on blockchain data related to the outstanding invoices, the prediction model determines a predicted cost that the particular entity would incur in obtaining funding, by the target funding date, using each outstanding invoice. A funding type to be used for each invoice is also identified. Invoices are selected based on the predicted costs. An interface presents the recommendation to use the selected invoices to obtain the target funding amount by the target funding date.
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PATENT: Method and device for providing transaction service for cryptocurrencies based on different blockchains; US 11,887,107 B2; 1/30/2024; CPC G06Q 20/3825; 13 claims; assigned to Nexon Korea Corporation.
ABSTRACT: A method of transaction between a first cryptocurrency transacted based on a first blockchain and a second cryptocurrency transacted based on a second blockchain includes obtaining first transaction information with respect to a first transaction in which a first user transmits the first cryptocurrency to a second user, and second transaction information with respect to a second transaction accompanying the first transaction and in which the first user receives the second cryptocurrency from the second user; if the first transaction information satisfies terms of agreement between the first user and the second user, adding, to the first transaction information, first condition information depending on validity of the second transaction information and activating the first transaction of the first cryptocurrency; and digitally signing the first transaction information to which the first condition information is added, to prove the terms of agreement, and transmitting the first transaction information to a node on a network of the first blockchain.
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PATENT: System and method for discretionary broker quotes and pegged broker quotes; US 11,887,188 B2; 1/30/2024; CPC G06Q 40/04; 24 claims; assigned to NYSE Group, Inc.
ABSTRACT: To represent broker interest in a security, a system receives broker interest to buy or sell a security at a first price with a minimum trade size, and receives an order with an order trade size. The system determines whether the order trade size is greater than the minimum trade size, and responsive to determining whether the order trade size is greater than the minimum trade size, the system trades at least part of the broker interest against the order if the order trade size is greater than the minimum trade size.
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PATENT: Apparatuses, methods and systems for a tracking platform for standardized instruments; US 11,887,189 B2; 1/30/2024; CPC G06Q 40/04; 22 claims; assigned to Chicago Mercantile Exchange, Inc.
ABSTRACT: A computer implemented method for a tracking platform comprises receiving a plurality of data records for the financial instrument; determining a number of units of the futures contract associated with a starting capital amount based on the near settlement price of the data record with the earliest timestamp; processing the data records in sequence based on the timestamp by setting a value for a roll indicator; updating the number of units of the financial instrument if necessary; and determining a profit and loss (“PNL”) for the data record based on the number of units of the financial instrument and a change in settlement price; calculating a tracking value for the financial instrument based on the PNLs of the processed data records; and generating at least one financial instrument having a value that is determined from the calculated tracking value.
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PATENT: Visual depiction of warnings and errors; US 11,887,190 B2; 1/30/2024; CPC G06Q 40/04; 18 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: Methods, systems and computer-readable storage media disclosed herein provide visual depictions of warnings and errors. An example method includes detecting, using a computing device, a change in a design of a trading algorithm. The trading algorithm is defined by a user-specified arrangement of blocks representing trading functionality. The example method includes determining, using the computing device, whether the trading algorithm complies with a trading algorithm rule. The example method includes facilitating, using the computing device, at least one of warning handling or error handling when the trading algorithm does not comply with the trading algorithm rule. Facilitating warning handling or error handling includes displaying a warning or an error to the user in connection with the trading algorithm before the trading algorithm is available for execution.
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January 23, 2024
Total CPC G06Q Subclass (business methods) patents issued: 118
Financial industry business method patents reviewed herein: 5
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PATENT: Blockchain cross-chain non-fungible token exchange; US 11,880,809 B2; 1/23/2024; CPC G06Q 20/065; 11 claims; assigned to Frontage Road Holdings, LLC/
ABSTRACT: A system and corresponding method exchange a nonfungible token (NFT) via blockchain cross-chain fungible token transfers. The system comprises first and second blockchains. The first blockchain holds the NFT in a first escrow digital wallet. The NFT is available for trade by a seller and is associated with a trade value. The first blockchain monitors a balance of fungible tokens, owned by a buyer, that are transferred from a second blockchain to a second escrow digital wallet of the first blockchain. In response to detecting that the balance monitored represents the trade value, the first blockchain transfers, simultaneously, (i) the NFT from the first escrow digital wallet to a first digital wallet of the first blockchain, the first digital wallet owned by the buyer, and (ii) the balance of fungible tokens from the second escrow digital wallet to a second digital wallet of the second blockchain, the second digital wallet owned by the seller.
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PATENT: Systems and methods for securely sharing public blockchain addresses; US 11,880,810 B1; 1/23/2024; CPC G06Q 20/065; 14 claims; assigned to Citibank, N.A.
ABSTRACT: A system includes a first processor configured to transmit to a second processor via a secure network session, a first payload configured for a transaction in a public blockchain network including a transaction amount, and a wallet address of a cryptocurrency account, and, in response to receiving, from a blockchain node associated with the cryptocurrency account, an indication that the cryptocurrency account has received a first monetary amount via the public blockchain network, transmit, to the second processor via the secure network session, a second payload indicating the first monetary amount that is less than the transaction amount. In response to the second processor validating the first monetary amount, the second processor transmits, using a blockchain node associated with the cryptocurrency account, a remainder of the transaction amount to the cryptocurrency account via the public blockchain network.
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PATENT: Managing digital blockchains via digital tokens, systems, methods, and apparatus; US 11,880,824 B1; 1/23/2024; CPC G06Q 20/3672; 35 claims; assigned to Nant Holdings IP.
ABSTRACT: A computer-based digital notarized ledger management system comprises at least one computer-readable memory storing a primary ledger and software instructions. The system further comprises at least one processor coupled with the memory, the processor performs operations upon software instruction execution. The at least one processor performs instructions to receive a ledger request comprising target ledger parameters, generate in the memory, at least one digital token representing a target ledger based on target ledger parameters, mint according to at least one primary ledger smart contract, the at least one digital token as a set of non-fungible tokens (NFTs) having at least some of the target ledger parameters and representing the target ledger on the primary ledger, instruct at least one computing node to instantiate the target ledger in at least one node memory according to the target ledger parameters, and instruct the at least one node to enable target ledger transactions.
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PATENT: Efficient, accurate, and secure processing of digital asset conversion to fiat currency; US 11,880,826 B2; 1/23/2024; CPC G06Q 20/381; 9 claims; assigned to Bakkt Marketplace, LLC.
ABSTRACT: Various embodiments of the present disclosure are generally directed to processing conversions of digital assets to fiat currency. An example method includes obtaining a conversion rate for a digital asset via an API, providing the conversion rate via a client device, receiving a digital asset conversion request and executing a digital asset conversion within a configurable time period. Executing the digital asset conversion includes causing digital asset units to be debited from the digital asset user account and causing fiat currency units to be credited to a fiat currency user account. The method further includes dynamically providing a notification of execution of the digital asset conversion via the client device, updating account balance data objects associated with the digital asset user account and the fiat currency user account, and subsequent to executing the digital asset conversion, executing a fiat currency transaction (e.g., a settlement) with a digital asset exchange system.
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PATENT: Platform for a plurality of services associated with a blockchain; US 11,880,839 B2; 1/23/2024; CPC G06Q 20/401; 20 claims; assigned to nChain Licensing AG.
ABSTRACT: In a first aspect, the present disclosure proposes methods, devices and systems for implementing a platform providing a plurality of services that are associated with a blockchain, using a platform processor associated with an application programming interface (API) that is capable of receiving a client request in a Hypertext Transfer Protocol (HTTP) transmission protocol format for a service. Further to suitable verification of the identity of the client and/or the request, a destination address or endpoint for the requested blockchain service is determined, and at least one blockchain transaction is generated based on the destination address to obtain an output script. A result based on the output script is then sent to the given client in the HTTP transmission protocol format. In some aspects, the blockchain transaction is associated with an event stream that is implemented as a Finite State Machine on the blockchain.
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January 16, 2024
Total CPC G06Q Subclass (business methods) patents issued: 142
Financial industry business method patents reviewed herein: 5
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PATENT: Virtual currency settlement method, apparatus, and electronic device; US 11,875,315 B2; 1/16/2024; CPC G06Q 20/065; 6 claims; assigned to Antpool Technologies Limited.
ABSTRACT: The present disclosure provides a currency settlement method and apparatus. The currency settlement method includes: settling with a mining node that acquired a first virtual currency according to a workload performed by the mining node and an income type of the mining node; according to a settlement currency type, transacting with an exchange institution to exchange an amount in the first virtual currency into an amount in a second virtual currency, the second virtual currency being the settlement currency type; and transferring the amount of the second virtual currency to an account.
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PATENT: Method and system for secure data record distribution using a blockchain; US 11,875,340 B2; 1/16/2024; CPC G06Q 20/3678; 14 claims; assigned to nChain Licensing AG.
ABSTRACT: A computer-implemented method for improving the security of a data record distribution process using a blockchain having a group of input nodes and a group of output nodes, each group having a private-public key pair, but wherein the nodes only have a key share of their respective private key and no node has a full private key. Using threshold signature scheme, secret share joining, and stealth addresses, data records from the input nodes are pooled at a stealth address determined through collaborative action of the input nodes, requiring cooperative determination of their public key, a shared secret, and the stealth address. The public key is copied into the transaction. The output nodes locate the transaction and extract the public key, collaboratively verify its authenticity, and collaboratively determine the shared secret. Having done so, the output nodes may, collectively, sign a second transaction for distributing data records from the stealth address to the output addresses. The invention may be used in conjunction with the Bitcoin blockchain, for example, or another blockchain implementation.
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PATENT: Systems, methods, and apparatuses for dynamically assigning nodes to a group within blockchains based on transaction type and node intelligence using distributed ledger technology; US 11,875,400 B2; 1/16/2024; CPC G06Q 40/03; 21 claims; assigned to Salesforce, Inc.
ABSTRACT: Exemplary systems, methods, and apparatuses dynamically assign nodes to a group within blockchains based on transaction type and node intelligence using Distributed Ledger Technology (DLT) in conjunction with a cloud based computing environment. The exemplary system operates a blockchain interface to the blockchain on behalf of a plurality of tenants of the host organization, creates a consensus group on the blockchain and associates the consensus group with a specific transaction type for transactions to be processed via the blockchain. The system further assigns participating nodes to the consensus group and grants increased weight consensus voting rights to the consensus group.
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PATENT: Blockchain instrument for transferable equity; US 11,875,406 B1; 1/16/2024; CPC G06Q 40/04; 20 claims; assigned to Equity Shift, Inc.
ABSTRACT: Systems and methods for offering and purchasing tokenized securities on a blockchain platform meeting current and future federal, state, and offering and holding entity rules and regulations. Tokenized securities purchased during or after the tokenized securities offering are tradable on a secondary market. The server computer of the tokenized securities provides an automated transfer capability for tokenized securities holders.
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PATENT: Techniques for accurate evaluation of a financial portfolio; US 11,875,408 B2; 1/16/2024; CPC G06Q 40/06; 13 claims; assigned to State Street Corporation.
ABSTRACT: Various embodiments are generally directed to techniques for accurate evaluation of a financial portfolio. Techniques described herein may include an apparatus comprising: a processing circuit; and an approximate computing engine, executed on the processing circuit, operative to process data items corresponding to prices of funds, compute a Net Asset Value (NAV) based on the data items, determine a precision associated with the Net Asset Value (NAV), and based upon a precision metric, determine whether to use the Net Asset Value (NAV) in a business decision. Other embodiments are described.
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January 9, 2024
Total CPC G06Q Subclass (business methods) patents issued: 188
Financial industry business method patents reviewed herein: 5
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PATENT: Devices and methods for selective contactless communication; US 11,868,988 B2; 1/9/2024; CPC G06Q 20/352; 20 claims; assigned to Capital One Services.
ABSTRACT: A card having an antenna, one or processors, and memory having stored thereon a first application and a second application configured to receive an input of the card and determine a request associated with the input. The card is further configured to activate, responsive to determining that the request is consistent with a contactless EuroPay-MasterCard-Visa (EMV) data standard, the first application. The first application is configured to communicate, via near field communication (NFC), data to the communicating device via the antenna based on the EMV data standard for payment purposes. The card is further configured to activate, responsive to determining that the request is consistent with a near field communication data exchange format (NDEF) standard, the second application. The second application is configured to communicate, via NFC, data to the communicating device via the antenna based on the NDEF standard for verification/identification purposes.
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PATENT: System and method for conducting and securing transactions when blockchain connection is unreliable; US 11,868,991 B2; 1/9/2024; CPC G06Q 20/3478; 4 claims; assigned to Liquineq AG.
ABSTRACT: A system for transacting in an environment with intermittent connectivity via a network backbone to a blockchain. A merchant device transmits a set of credentials for an ad hoc network to a buyer device and establishes a private peer-to-peer ad hoc network connection with the buyer device. It then conducts a transaction with the buyer device via the private peer-to-peer ad hoc network. If no network connection is available to a transaction blockchain, the merchant device stores a record of the transaction until such network becomes available and later sends the record of the transaction to the transaction blockchain.
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PATENT: Geocoding geocode datasets in know your customer blockchain data blocks for spatial analytical risk modeling; US 11,869,007 B2; 1/9/2024; CPC G06Q 20/389; 16 claims; assigned to Bank of America Corporation.
ABSTRACT: Aspects of the disclosure relate to geocoding geocode datasets in KYC blockchain data blocks for spatial analytical risk modeling. In some embodiments, a computing platform may receive a client request to initiate a transaction with an enterprise organization. Using financial documentation and identification documentation associated with the client request, the computing platform may generate geocode coordinates and may identify a series of geographic risk factors. The computing platform may translate the geocode coordinates and the geographic risk factors into analytical overlays. The computing platform may stack the analytical overlays to generate an interactive spatial risk analysis model. The enterprise organization may use the interactive spatial analytical risk model to analyze the client request, and to determine whether to approve or deny the client request.
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PATENT: Voting system to prevent fraud using blockchain technology; US 11,869,018 B2; 1/9/2024; CPC G06Q 20/0185; 20 claims; assigned to Gleipnir Technologies LLC.
ABSTRACT: A voting system comprises at least one voting machine comprising: at least one voting machine processor performing voting machine operations comprising initializing a vote blockchain with a vote blockchain genesis block, the vote blockchain genesis block comprising a voting machine identifier and a genesis block hash value; creating a data structure comprising a plurality of votes and a hash value of a preceding block; determining a new block hash value of the data structure; appending a new block comprising the data structure and the new block hash value to the vote blockchain; and storing the vote blockchain in the at least one voting machine memory.
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PATENT: Distributed spreading tools and methods; US 11,869,080 B2; 1/9/2024; CPC G06Q 40/04; 12 claims; assigned to Trading Technologies International Inc.
ABSTRACT: Certain embodiments provide systems, methods, and apparatus for trading in a distributed server architecture. An example method includes receiving, by a computing device, a definition for a trading strategy, wherein the trading strategy includes a first tradeable object and a second tradeable object. The example method includes selecting, by the computing device, a first server to process one or more trade orders for the first tradeable object and a second server to process one or more trade orders for the second tradeable object. The example method includes sending, by the computing device, the definition for the trading strategy to the first server and the second server.
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January 2, 2024
Total CPC G06Q Subclass (business methods) patents issued: 228
Financial industry business method patents reviewed herein: 5
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PATENT: Systems and methods for cryptocurrency asset bundles; US 11,861,570 B2; 1/2/2024; CPC G06Q 20/065; 20 claims; assigned to Coinbase, Inc.
TECHNICAL FIELD: This invention relates generally to the cryptocurrency field, and more specifically to a new and useful system and method for providing asset bundles in the cryptocurrency field.
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PATENT: Method and system for stabilizing digital currency; US 11,861,571 B2; 1/2/2024; CPC G06Q 20/0655; 20 claims; assigned to Infrared5, Inc.
ABSTRACT: The present invention is directed to systems and methods for maintaining a stabilized digital currency is provided. The systems and methods include monitoring for one or more digital transactions in a service provider network utilizing digital coins, minting and storing a predetermined percentage of reserve tokens of the digital coins in a reserve pool, providing compensation for the one or more digital transactions as utility tokens of the digital coins, and monitoring current value of the digital coins for the digital currency for inflation or deflation.
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PATENT: Method for paying cost of IoT device based on blockchain and merkle tree structure related thereto, and server, service providing terminal, and digital wallet using the same; US 11,861,573 B2; 1/2/2024; CPC G06Q 20/102; 4 claims; assigned to Coinplug, Inc.
ABSTRACT: A method of a payment for an Internet of Things (IoT) device is provided. The method includes steps of: a payment supporting server (a) on condition that the payment supporting server has registered certificates of the IoT device, a service providing device, and a digital wallet in a first blockchain, manages their transaction IDs, has registered a representative hash value in a second blockchain, manages their transaction IDs, and manages link information between the IoT device and the digital wallet, confirming validity of a billing transaction, and (b) acquiring identification information on the digital wallet; and (c) paying the billing detail using the digital wallet, registering its payment result in the first blockchain, registering in the second blockchain, if one anchoring condition is satisfied, a first representative hash value, and transmitting the payment result to the service providing device, the IoT device, and the digital wallet.
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PATENT: Blockchain system for confidential and anonymous smart contracts; US 11,861,606 B2; 1/2/2024; CPC G06Q 20/383; 19 claims; assigned to Visa International Service Association and The Board of Trustees of the Leland Stanford Junior University.
ABSTRACT: Blockchain-based, smart contract platforms have great promise to remove trust and add transparency to distributed applications. However, this benefit often comes at the cost of greatly reduced privacy. Techniques for implementing a privacy-preserving smart contract is described. The system can keep accounts private while not losing functionality and with only a limited performance overhead. This is achieved by building a confidential and anonymous token on top of a cryptocurrency. Multiple complex applications can also be built using the smart contract system.
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PATENT: System and method for aggressively trading a strategy in an electronic trading environment; US 11,861,705 B2; 1/2/2024; CPC G06Q 40/04; 13 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: System and method for aggressively trading a spread trading strategy in an electronic environment are provided herein. According to the example embodiments, a trader may configure the automated trading tool to trade as aggressively as possible by leaning on a price without an associated quantity. This allows a trader to possibly obtain a more profitable price as well as get filled faster. Traders submit an order for a spread and the automated trading tool calculates the quote order price based on a defined level of aggressiveness, the leaned on price, and the desired spread price. Based on the level of defined aggressiveness and the gap in the market, the automated trading tool may lean on a mildly, moderately, or extremely aggressive price.
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December 26, 2023
Total CPC G06Q Subclass (business methods) patents issued: 183
Financial industry business method patents reviewed herein: 5
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PATENT: Virtual currency management method; US 11,853,978 B2; 13/26/2023; CPC G06Q 20/065; 6 claims; assigned to Nomura Research Institute, Ltd.
ABSTRACT: Provided is a virtual currency remittance method that causes a second computer connected to a first computer including a state DB that manages account discrimination information and balance information related to virtual currency relevant to an account discriminated by the account discrimination information, and remittable account discrimination information, and a blockchain that manages transaction information including first account discrimination information, second account discrimination information, and a sum of virtual currency to be remitted from an account discriminated by the first account discrimination information to an account discriminated by the second account discrimination information.
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PATENT: Math based currency credit card; US 11,853,979 B1; 13/26/2023; CPC G06Q 20/0655; 20 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Systems, methods, and computer-readable storage media utilized in remote math based currency (MBC) transactions. One method includes receiving, from a customer computer system, a token generation request associated with a remote MBC transaction including an amount of MBC funds to transfer, wherein the token generation request includes an identifier of a recipient computer system, and generating and transmitting, to the customer computer system, a token embedded with at least an MBC account number of the customer computer system. The method further includes receiving, from the recipient computer system, the token, wherein the recipient computer system is associated with a recipient MBC account, and creating a first and second public and private key pair. The method further includes transmitting the first public and private key pair to a recipient account destination of the recipient MBC account, and updating a pooled MBC account database with the second public and private key pair.
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PATENT: Method for pooling in a proof-of-space-based blockchain via singletons; US 11,854,009 B2; 13/26/2023; CPC G06Q 20/401; 10 claims; assigned to Chia Network Inc.
ABSTRACT: A method for pooling and retrieving block rewards in a reward pool including an operator node and a set of member nodes in a distributed network extending a proof-of-space-based blockchain includes: submitting a transaction configured to generate a singleton in a set of singletons, the singleton including: an outer puzzle hash linking the singleton to a singleton puzzle hash; and an inner puzzle hash defining a pool address associated with the reward pool; generating a block including a proof-of-space and a block reward allocated to the singleton puzzle hash; detecting the block reward allocated to the singleton puzzle hash; identifying the singleton linked to the singleton puzzle hash; and submitting a transaction configured to: remove the singleton from the set of singletons; and transfer the block reward from the singleton puzzle hash to the pool address.
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PATENT: System and method for matching orders and immutable blockchain ledger for all customer trading activity with settlement into the broker dealer ecosystem; US 11,854,080 B2; 13/26/2023; CPC G06Q 40/04; 21 claims; assigned to Blackstar Enterprises Group, Inc.
ABSTRACT: The present invention discloses a system and method of trading regulated equities with the SEC on an immutable blockchain, while also integrating with the rules and regulations of the existing brokerage ecosystem. In these systems and methods, customers are invited by at least one broker dealer to participate as a user on the digital trading platform to take a cash immutable action that comprises the placement of at least one of an order, bid or offer. The action, containing a digital price, is then entered into the digital trading platform, stored on the platform and used to facilitate a spot market transaction between a buyer and a seller.
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PATENT: Blockchain instrument for transferable equity; US 11,854,082 B1; 13/26/2023; CPC G06Q 40/04; 30 claims; assigned to Equity Shift, Inc.
ABSTRACT: Systems and methods for offering and purchasing tokenized securities on a blockchain platform meeting current and future federal, state, and offering and holding entity rules and regulations. Tokenized securities purchased during or after the tokenized securities offering are tradable on a secondary market. The server computer of the tokenized securities provides an automated transfer capability for tokenized securities holders.
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December 19, 2023
Total CPC G06Q Subclass (business methods) patents issued: 127
Financial industry business method patents reviewed herein: 5
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PATENT: Math based currency credit card; US 11,847,620 B1; 12/19/2023; CPC G06Q 20/0655; 15 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Embodiments include a method of performing a math based currency (“MBC”) transaction. The method includes receiving, from a recipient computer system, information regarding an MBC backed credit card account, information regarding a recipient account and an amount of funds to be transferred to the recipient account from the MBC backed credit card account. The method further includes verifying, by the financial institution computer system, that the amount of funds that are available in the MBC backed credit card account. In various embodiments the method includes updating, by the financial institution computer system, an overlay ledger to increase the balance owed by a customer that holds the MBC backed credit card account.
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PATENT: Batch-processing transactions in response to an event; US 11,847,657 B2; 12/19/2023; CPC G06Q 20/405; 20 claims; assigned to Block, Inc.
ABSTRACT: Batch-processing of open tabs associated with one or more customers of a merchant is described. An identifier and/or payment instrument associated with the customer may be determined and a tab data structure associated with a customer may be created. The tab data structure may be configured to store interactions between the customer and the merchant. Details of transactions between the customer and the merchant may be stored while the tab remains open. In response to determining that an event has occurred, the open tab(s) may be closed and the stored transactions may be processed via a batch-processing technique. In this way, the open tabs associated with the customer and/or the merchant may be processed in batch, thereby reducing the level of interaction and resources required of the merchant and customer to process tabs individually and reducing the amount of delayed and/or lost funds.
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PATENT: Systems and methods for providing non-fully-transparent markets; US 11,847,699 B2; 12/19/2023; CPC G06Q 40/04; 9 claims; assigned to BGC Partners, Inc. ABSTRACT: Receiving a request to reveal a bid or an offer, transmitting a price and a size that corresponds to the bid or the offer; waiting a pre-determined period of time, and executing the bid or the offer at a default price and a default size, in the event that no command is submitted to trade within the pre-determined period of time.
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PATENT: Data processing method, system, and non-transitory computer-readable medium; US 11,847,700 B2; 12/19/2023; CPC G06Q 40/04; 20 claims; assigned to Nasdaq Technology AB.
SUMMARY: An overall object and purpose of the securities settlement system (SSS) is to increase the flow of successful trades, by minimizing the demands for liquidity of cash especially. A securities settlement system that achieves the object and purpose is obtained through a securities settlement system comprising an input for receiving trade information, a selector for selecting a group of trades to be cleared, an aggregation unit for determining an aggregated obligation to be cleared by each user associated with the group of trades and a settlement unit for executing the aggregated obligations for each user to clear the trades in the group of trades.
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PATENT: Systems and methods for maintaining the viability of a good-until-bettered order type in electronic trading systems; US 11,847,701 B2; 12/19/2023; CPC G06Q 40/04; 18 claims; assigned to BGC Partners, Inc.
ABSTRACT: Systems and methods of trading items on an electronic trading system according to the invention are provided. The embodiments of the invention are based at least in part on a new order type. The new order type is a modification of a conventional good-until-bettered order type. A good-until-bettered bid/offer is received along with instructions that specify a good-until-bettered increment value and/or duration. The good-until-bettered order is maintained in the electronic trading system until a bid/offer that is better by the specified plurality of standard trading increments is received by the electronic trading system and/or remains in the system for the good-until-bettered duration.
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December 12, 2023
Total CPC G06Q Subclass (business methods) patents issued: 118
Financial industry business method patents reviewed herein: 5
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PATENT: Blockchain-based authentication and authorization; US 11,842,317 B2; 12/12/2023; CPC G06Q 10/0832; 20 claims; assigned to eBay Inc.
ABSTRACT: The disclosed technologies include receiving a request from a second computing device to verify ownership of a blockchain address. A challenge content is generated and sent to the requestor. A signature is received comprising a hash of the challenge content generated using a private key. A public key corresponding to the private key is obtained, and the signature is validated using the public key. In response to validating the signature, a characteristic is associated with a user associated with the blockchain address.
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PATENT: Blockchain communications and ordering; US 11,842,335 B2; 12/12/2023; CPC G06Q 20/3674; 16 claims; assigned to Quant Network Ltd.
ABSTRACT: The present disclosure provides a computer implemented method for maintaining a record of an order of messages appearing on one or more blockchains, the method comprising: identifying a plurality of messages, wherein each of the messages in the plurality of transactions is included on any of the one or more blockchains; and storing a record of the plurality of messages in a data store, wherein the record is indicative of the relative order of the plurality of transactions.
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PATENT: Secure off-chain blockchain transactions; US 11,842,338 B2; 12/12/2023; CPC G06Q 20/3829; 15 claims; assigned to nChain Licensing AG
ABSTRACT: There may be provided a computer-implemented method. It may be implemented using a blockchain network such as, for example, the Bitcoin network. The computer-implemented method includes: i) attaching a digital asset of a first party to an exchange platform by: a) computing a first shared key associated with the digital asset using a key of the first party and a first key of the exchange platform; and b) depositing the digital asset to a blockchain network by: 1) generating a funding transaction payable to any party from the digital asset using the first shared key; and 2) broadcasting the funding transaction to the blockchain network; and ii) reassociating the digital asset from the first party to the second party by: a) computing a second key of the exchange platform using a key of the second party such that: 1) the key of the first party becomes invalid; and 2) a second shared key associated with the digital asset that is computed from the key of the second party and the second key of the exchange platform is equal to the first shared key associated with the digital asset; and b) replacing the first key of the exchange platform with a second key of the exchange platform.
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PATENT: System and method for optimizing execution of trading orders; US 11,842,394 B2; 12/12/2023; CPC G06Q 40/04; 20 claims; assigned to BGC Partners, Inc.
ABSTRACT: A system for processing trading orders comprises an optimizer module operable to receive a first trading order and a second trading order. The optimizer module is further operable to receive market data associated with at least one market center. The optimizer module is further operable to determine whether to transmit the second trading order to the at least one market center prior to transmitting the first trading order to the at least one market center, the determination based at least in part on the market data.
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PATENT: User-defined algorithm electronic trading; US 11,842,401 B2; 12/12/2023; CPC G06Q 40/04; 12 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: Certain embodiments reduce the risks of traditionally programmed algorithms such as syntax errors, unclear logic, and the need for a non-trader programmer to develop the algorithm as specified by a trader by reducing or eliminating the writing of programming code by a user. Certain embodiments provide building block buttons and an algorithm area to define an algorithm. Certain embodiments provide live evaluation of an expression as the algorithm is being defined. Certain embodiments provide a design canvas area and blocks for designing an algorithm. Certain embodiments provide live feedback for blocks as the algorithm is being designed. Certain embodiments provide for initiating placement of an order to be managed by a selected user-defined trading algorithm from a value axis and for displaying working orders being managed by different user-defined trading algorithms on the value axis. Certain embodiments provide a ranking tool.
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December 5, 2023
Total CPC G06Q Subclass (business methods) patents issued: 171
Financial industry business method patents reviewed herein: 5
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PATENT: Cognitive enabled blockchain based resource prediction; US 11,836,656 B2; 12/5/2023; CPC 10/06312; 20 claims; assigned to IBM.
ABSTRACT: A method, computer system, and a computer program product for blockchain based resource predictions and management is provided. Embodiments of the present invention may include receiving a request for a prediction of a future resource requirement. Embodiments of the present invention may include loading data structures. Embodiments of the present invention may include classifying collected data. Embodiments of the present invention may include predicting the future resource requirement. Embodiments of the present invention may include adjusting the priority of the future resource requirement. Embodiments of the present invention may include providing notifications.
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PATENT: Systems and methods for private network issuance of digital currency; US 11,836,690 B1; 12/5/2023; CPC 20/0655; 20 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Systems, methods, and computer-readable storage media of private network issuance of digital currency. One method includes establishing, via a first private network, a first private network connection between a digital wallet application of a user device and the processing circuit. The method further includes receiving an issuance request associated with a first denomination of digital currency. The method further includes issuing a first digital currency token, wherein issuing is an off-chain exchange transferring the first denomination outside a digital currency ledger.
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PATENT: System and method for processing payments in fiat currency using blockchain and tethered tokens; US 11,836,717 B2; 12/5/2023; CPC 20/381; 16 claims.
ABSTRACT: A method of processing a payment including receiving a payment lookup request, identifying a user network account on a blockchain network, sending a payment authorization request to and receiving authorization from a user, transferring ownership of an in-network token responsive to the authorization, sending a debit request to a user financial account, receiving a debit response from the user financial account, sending a credit request to a receiver financial account, and receiving a credit response from the receiver financial account.
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PATENT: Systems and methods for crypto currency automated transaction flow detection; US 11,836,718 B2; 12/5/2023; CPC 20/389; 20 claims; assigned to CipherTrace, Inc.
ABSTRACT: Systems and methods for automatically searching crypto currency transaction paths and discovering transaction flows between individuals and identifiable services, trim or prune out irrelevant transactions and addresses, and present the relevant information as an identifiable transaction chain are provided herein. In various embodiments the present technology dramatically increases the productivity of investigators and auditors researching crypto currency transactions.
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PATENT: Blockchain based account funding and distribution; US 11,836,723 B2; 12/5/2023; CPC 20/401; 20 claims; assigned to State Farm Mutual Automobile Insurance Company.
ABSTRACT: The present methods and systems relate to using and accessing data stored in a blockchain, and in particular, interacting with the blockchain and users via smart contracts to handle account funding and distribution methods. The methods and systems include receiving a transaction from a participant, and verifying the transaction, such as by accessing a smart contract stored on the blockchain and checking a set of parameters against a set of conditions stored in the smart contract. Depending on whether the set of parameters satisfy the conditions, the results may be communicated to participants about the success or failure of the transaction.
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November 28, 2023
Total CPC G06Q Subclass (business methods) patents issued: 196
Financial industry business method patents reviewed herein: 5
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PATENT: Method and system for optimizing blockchain parsing using a wallet's static characteristics; US 11,829,995 B2; 11/28/2023; CPC G06Q 20/36; 16 claims; assigned to Mastercard International Incorporated.
ABSTRACT: A method for optimized validation of a blockchain transaction through the use of a parallel database and date management includes: receiving a new blockchain transaction that includes unspent transaction outputs; identifying, in a parallel database, a start date for a blockchain wallet involved in the new transaction; identifying a subset of blocks in the blockchain that have been added to the blockchain since the start date; validating the new blockchain transaction by validating the unspent transaction outputs using the subset of blocks; and, if the validation is successful, adding the new transaction to the blockchain, or, if the validation is unsuccessful, notifying the submitter of the failed validation.
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PATENT: Authenticated data feed for blockchains; US 11,829,998 B2; 11/28/2023; CPC G06Q 20/3678; 26 claims; assigned to Cornell University.
ABSTRACT: An apparatus in one embodiment comprises a processing platform having at least one processing device. The processing platform implements a trusted bridge configured for at least temporary coupling between one or more data sources and a smart contract program of a blockchain. The trusted bridge comprises a secure enclave component and a relay component. Data obtained from a given one of the data sources via the relay component of the trusted bridge is authenticated in the secure enclave component of the trusted bridge. Information based at least in part on the data authenticated in the secure enclave component of the trusted bridge is provided to the smart contract program of the blockchain via the relay component of the trusted bridge. The secure enclave component illustratively receives a request for authenticated data from the blockchain smart contract program via the relay component, and responds to the request via the relay component.
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PATENT: Blockchain consensus method, accounting node and node; US 11,830,001 B2; 11/28/2023; CPC G06Q 20/389; 14 claims; assigned to China Unionpay Co., Ltd.
ABSTRACT: A blockchain consensus method includes: an accounting node generating a block and broadcasting verification information of the accounting node to other accounting nodes among N accounting nodes; receiving and verifying acknowledgement information broadcast by the other accounting nodes; and adding the block to a blockchain when the received acknowledgement information satisfies a second set condition. The N accounting nodes are determined according to coin age information carried in election requests broadcast by M election nodes. The acknowledgement information broadcast by the other accounting nodes is generated and broadcast by a first accounting node when received preparation information of a second accounting node meets a first set condition; the preparation information of the second accounting node is generated and broadcast by the second accounting node when validating the verification information; and each of the first accounting node and the second accounting node is any one of the other accounting nodes.
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PATENT: API framework for clearing non-deliverable interest rate swaps; US 11,830,068 B2; 11/28/2023; CPC G06Q 40/04; 34 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: A blockchain consensus method includes: an accounting node generating a block and broadcasting verification information of the accounting node to other accounting nodes among N accounting nodes; receiving and verifying acknowledgement information broadcast by the other accounting nodes; and adding the block to a blockchain when the received acknowledgement information satisfies a second set condition. The N accounting nodes are determined according to coin age information carried in election requests broadcast by M election nodes. The acknowledgement information broadcast by the other accounting nodes is generated and broadcast by a first accounting node when received preparation information of a second accounting node meets a first set condition; the preparation information of the second accounting node is generated and broadcast by the second accounting node when validating the verification information; and each of the first accounting node and the second accounting node is any one of the other accounting nodes.
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PATENT: Risk mitigation in an electronic trading system; US 11,830,073 B2; 11/28/2023; CPC G06Q 40/04; 12 claims; assigned to NYSE Group, Inc.
ABSTRACT: An electronic trading system (ETS) implements risk mitigation methods for orders and quotes associated with a market participant on the ETS. The methods determine a measure of risk associated with one or more trading positions. One of the methods globally counts the number of breaches of risk thresholds associated with a trading symbol and market participant across all matching engines on the ETS over a rolling time period, and if this global risk counter exceeds a maximum, disables all further trades by the market participant on the ETS. Another method limits the number of automatic re-enablements that a market participant can request in response to prior breaches of risk thresholds that resulted in disabling any further trading by the market participant on the ETS.
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November 21, 2023
Total CPC G06Q Subclass (business methods) patents issued: 210
Financial industry business method patents reviewed herein: 5
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PATENT: Blockchain network interaction controller; US 11,823,141 B2; 11/21/2023; CPC G06Q 20/06; 14 claims; assigned to Visa International Service Association.
ABSTRACT: Described herein are systems and methods for virtualizing policy enforcement amongst participants of an overlay network. In some embodiments, each of the participants may maintain a separate blockchain network. The overlay network may receive smart contracts or other policy documents that include information on interactions with a particular participant or between participants. A controller, which may be implemented on any node of the overlay network, may then extract an interaction algorithm from that smart contract that may be stored in policy data to be used in completing transactions between two participants of the overlay network. In some embodiments, the policy data may include cost data which may be used to determine how two entities may interact.
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PATENT: Smart contract of a blockchain for management of cryptocurrencies; US 11,823,177 B2; 11/21/2023; CPC G06Q 20/3672; 10 claims; assigned to Bprotocol Foundation.
ABSTRACT: There is provided a processor(s) executing a blockchain smart contract, for: managing a primary reserve of primary tokens and a secondary reserve of secondary tokens, receiving a transaction request, obtaining an external price of the primary token, compute an updated value of the primary reserve according to the external price, in response to the updated total value of primary reserve being unequal to an initial staked value of the primary reserve, adjust primary and secondary dynamic reserve weights, wherein a total value computed by a function of the primary reserve after being increased or decreased by a target amount of primary tokens and using the adjusted primary and secondary dynamic reserve weights, is equal to the initial staked value of the primary reserve, and the total value of the primary reserve is maintained at a predefined ratio to a total value of the secondary reserve, and executing the transaction request.
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PATENT: Optimization of high volume transaction performance on a blockchain; US 11,823,178 B2; 11/21/2023; CPC G06Q 20/3674; 17 claims; assigned to IBM.
ABSTRACT: An example operation may include one or more of identifying a newly proposed transaction of a blockchain, initiating a consensus operation to determine whether to authorize the newly proposed transaction, retrieving a key-value pair identified from a previous transaction, comparing an index value associated with the key-value pair of the previous transaction to an index value associated with a key-value pair of the newly proposed transaction, and providing an affirmative consensus to accept the newly proposed transaction in the blockchain when the index value associated with the key-value pair of the previous transaction is contiguously sequential with the index value associated with the key-value pair of the newly proposed transaction.
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PATENT: Distributed ledger technology utilizing asset tracking; US 11,823,180 B1; 11/21/2023; CPC G06Q 20/3678; 16 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Systems, methods and computer-readable storage media utilized to track a plurality of assets on a distributed ledger network. One method includes receiving, by an asset issuer computing device, a request to track a specific asset on the distributed ledger network. The method further includes determining, by the asset issuer computing device, an asset type associated with the specific asset. The method further includes generating, by the asset issuer computing device, a unique identifier identifying the specific asset. The method further includes generating, by the asset issuer computing device, a unique tracking identifier, the unique tracking identifier including a subset of identifiers, the subset of identifiers including an asset issuer identifier, an asset type identifier, and the unique identifier. The method further includes providing, by the asset issuer computing device to the distributed ledger network, the unique tracking identifier, the specific asset, and a dataset associated with the specific asset.
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PATENT: NFC mobile currency transfer; US 11,823,182 B2; 11/21/2023; CPC G06Q 20/3829; 20 claims; assigned to Capital One Services, LLC.
ABSTRACT: Various embodiments are generally directed to NFC-based mobile currency transfers. A mobile payment may be programmatically initialized when at least two mobile devices come into NFC communications range. A payment card associated with an account used to fund the currency transfer may be tapped to one or more of the devices to allow a server to validate the currency transfer.
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November 14, 2023
Total CPC G06Q Subclass (business methods) patents issued: 152
Financial industry business method patents reviewed herein: 5
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PATENT: Blockchain digital currency: systems and methods for use in enterprise blockchain banking; US 11,816,642 B2; 11/14/2023; CPC G06Q 20/065; 18 claims.
ABSTRACT: Methods and systems for using blockchain digital currency are provided herein. The methods and systems comprise a blockchain digital currency that is created and utilized on a permission-based network of financial institutions. The blockchain digital currency is created by a central authority and minted into circulation by banks within the network, and is backed by reserves of real world currency of any country. The digital currency can be used for any type of financial transaction, and the system provides security, trust, traceability and a detailed audit trail for all transactions.
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PATENT: Centralized digital currency transactions utilizing a digital wallet; US 11,816,661 B2; 11/14/2023; CPC G06Q 20/3672; 20 claims; assigned to IBM.
ABSTRACT: A method, computer system, and a computer program product for managing digital currency is provided. The present invention may include initializing a digital wallet. The present invention may include receiving one or more digital currencies. The present invention may include performing one or more transactions using the one or more digital currencies, wherein each of the one or more transactions has a hash value recorded on a local ledger maintained on the digital wallet. The present invention may include broadcasting the local ledger to a shared ledger maintained by a fund source. The present invention may include synchronizing the digital wallet with the found source by releasing a value held in suspense based on a total value of the one or more digital currencies remaining on the digital wallet.
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PATENT: Method and system for enabling communication between blockchains on heterogeneous blockchain networks; US 11,816,662 B2; 11/14/2023; CPC G06Q 20/3674; 16 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A system for enabling communication between blockchains on heterogeneous blockchain networks. The system can include a sending blockchain network comprised of a sending blockchain that includes a plurality of blocks, each block including a block header and one or more transaction values associated with an identification request transmitted by the sending blockchain. The system can include a directory service node configured to receive the identification request from the sending blockchain, and identify a receiving blockchain, which forms part of a receiving blockchain network. The system can include an identity service node configured to receive a trust request from the directory service node to determine whether a valid trust certificate is available for the receiving blockchain and enable communication between the sending blockchain and the receiving blockchain, when the valid trust certificate is determined to be available.
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PATENT: Generation of live market data for decentralized systems from transaction data extracted from a blockchain; US 11,816,732 B1; 11/14/2023; CPC G06Q 40/04; 20 claims; assigned to Challenger Deep SAS.
ABSTRACT: Methods and systems for providing mechanisms for generating live market data for decentralized exchanges (DEXs) from transaction data extracted from a blockchain are provided. In embodiments, blockchain data associated with at least one token is obtained from a blockchain. The blockchain data corresponds to at least one executed function of a DEX protocol associated with the at least one token. Transaction data associated with the at least one executed function using at least one model generated based on an implementation of the DEX protocol is extracted from the blockchain data corresponding to the at least one executed function. The extracted transaction data is structured into a standardized format for market data corresponding to the at least one executed function associated with the at least one token, and the market data for the at least one token is outputted via one or more off-chain distribution channels.
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PATENT: Tokenization of social impact on the blockchain and related methods; US 11,816,733 B1; 11/14/2023; CPC G06Q 40/06; 18 claims; assigned to The Joan and Irwin Jacobs Technion-Cornell Institute.
ABSTRACT: Systems and methods for tokenization of social good. A disclosed method includes encoding a smart contract based on a plurality of project parameters for a social impact project, wherein the smart contract includes at least one self-executing code; and issuing a token to a user based on an investment made by the user, wherein issuing the token to the user further comprises recording a first transaction on a blockchain indicating that the user owns the token, wherein each of the at least one self-executing code is configured to record a second transaction on the blockchain based on the plurality of project parameters and data related to progress of the social impact project, wherein each second transaction includes a respective transfer of funds via the token issued to the user.
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November 7, 2023
Total CPC G06Q Subclass (business methods) patents issued: 196
Financial industry business method patents reviewed herein: 5
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PATENT: Secure provision of undetermined data from an undetermined source into the locking script of a blockchain transaction; US 11,810,018 B2; 11/7/2023; CPC G06Q 20/389; 15 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention relates to distributed ledge technologies such as consensus-based blockchains. Computer-implemented methods for securely providing undetermined data from a determined or undetermined source are described. The invention is implemented using a blockchain network, which may be, for example, a Bitcoin blockchain. A first transaction to validate is received at a node in a blockchain network, with the first transaction including a first script that includes at least a first value, at least a portion of which includes data that is unconstrained by a second script, and a second value. A second transaction is obtained. The second transaction having been validated and including the second script that, as a result of being executed, causes the node to obtain the first value and the second value as a result of execution of the first script, and validate, based at least in part on first value and the second value, that the data is associated with a data source. The first transaction is validated by executing the first script and the second script.
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PATENT: Systems and methods for tracking subdivided ownership of connected devices using block-chain ledgers; US 11,810,079 B2; 11/7/2023; CPC G06Q 20/0655; 20 claims; assigned to The Toronto-Dominion Bank.
ABSTRACT: The disclosed embodiments include computerized systems and methods for generating secured block-chain-based ledger data structures that track subdivide ownership and usage of one or more assets, such as Internet-connected devices. In one instance, an apparatus associated with a rules authority of the secured block-chain-based ledger may detect an occurrence of a triggering event related to at least one of partial ownership interests in the assets, and may access and decrypt a set of rules hashed into the secured block-chain-based ledger using a confidentially-held master cryptographic key. The apparatus may identify a rule associated with the detected event, and perform one or more operations consistent with the rule, including a generation of additional data blocks reflecting a change in at least one of the partial ownership interests, and additionally or alternatively, processes that adaptively monitor a compliance of one or more partial owners with an imposed usage restriction.
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PATENT: Systems and method for tracking enterprise events using hybrid public-private blockchain ledgers; US 11,810,079 B2; 11/7/2023; CPC G06Q 20/0655; 19 claims; assigned to The Toronto-Dominion Bank.
ABSTRACT: The disclosed embodiments include computerized systems and methods for generating secured blockchain-based ledger data structures that track occurrences of events across fragmented and geographically dispersed lines-of-business of an enterprise. In one instance, an apparatus associated with a rules authority of the secured blockchain-based ledger may detect an occurrence of a triggering event, and may access and decrypt a set of rules hashed into the secured blockchain-based ledger using a confidentially-held master cryptographic key. The apparatus may identify a rule associated with the detected event, and perform one or more operations consistent with the rule, including a disbursement of various rewards to employees in response to customer-specific interactions with the enterprise. The disclosed embodiments provide a rules process for aggregating mutually incompatible enterprise data that specifies the events, and for tracking the events in uniform data structures accessible across the enterprise.
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PATENT: Systems and methods for facilitating transactions using a digital currency; US 11,810,106 B2; 11/7/2023; CPC G06Q 20/3678; 25 claims; assigned to Ridgeview Digital LLC.
ABSTRACT: Systems and methods for facilitating a transaction between a first entity and a second entity using a digital currency are described. In some aspects, a computing node participates in a private distributed ledger for a financial institution and stores one or more transaction blocks representing transactions in a digital currency. The digital currency is issued by the financial institution and is fixed with respect to a fiat currency. The computing node is configured to receive a transaction for transferring an amount of digital currency from a first entity to a second entity, generate a new transaction block representing the transaction, transmit the new transaction block to other computing nodes participating in the private distributed ledger, receive an indication of validity of the new transaction block, and insert the new transaction block into the private distributed ledger.
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PATENT: Systems and methods for asset sharing using distributed ledger techniques; US 11,810,183 B1; 11/7/2023; CPC G06Q 30/0645; 20 claims; assigned to USAA.
ABSTRACT: Systems and methods described herein facilitate the tracking of shared ownership of assets, such as real property as well as other types of property, using distributed ledger technology (DLT) techniques. For example, in timesharing scenarios, by storing data relating to shared ownership of particular assets in a distributed ledger, such as a blockchain, various aspects of the shared ownership of the shared asset may be tracked in an immutable and secure manner with all parties involved having transparency into the data relating to the shared asset. For example, the embodiments described herein enable tracking of certain aspects relating to shared ownership of a shared asset, such as scheduling of time periods during which certain share owners may take custody, tracking of transfers of custody of the shared asset between share owners, transfer of control of smart devices associated with the shared asset, and so forth.
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October 31, 2023
Total CPC G06Q Subclass (business methods) patents issued: 150
Financial industry business method patents reviewed herein: 5
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PATENT: Systems and methods for blockchain-based payment transactions, alerts, and dispute settlement, using a blockchain interface server; US 11,803,823 B2; 10/31/2023; CPC G06Q 20/10; 20 claims; assigned to Worldplay, LLC.
ABSTRACT: Systems and methods are disclosed for blockchain-based payment transactions, alerts, and dispute settlement, using a blockchain interface server. One method includes: receiving a transaction identifier for a series of transaction events stored in a shared ledger; and performing iterations of: identifying a new transaction event in the series of transaction events; presenting the new transaction event to participants of the transaction; determining whether the identified new transaction event indicates a dispute of one or more attributes of the transaction by a transaction participant; if the identified new transaction event indicates a dispute, receiving a proposed change to the disputed attribute of the transaction by the participant of the transaction; presenting the indication of the dispute and the proposed change to other participants; prompting the other participants to respond to the indication; executing a dispute settlement process to determine revised attributes of the transaction; and presenting the revised attributes.
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PATENT: Secure control of transactions using blockchain; US 11,803,847 B2; 10/31/2023; CPC G06Q 20/389; 15 claims; assigned to eBay, Inc.
ABSTRACT: Technologies are shown for controlling a transaction on a digitally stored blockchain by creating a contract data block for a transaction involving entities and by event code executed after receipt of digital signatures from the entities. A refund transaction may be digitally signed by entities and linked to the contract block within the blockchain. A payment transaction block may also be digitally signed by entities and linked to the contract block. Code authorized to execute by the blocks executes based on receipt of digital signature events.
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PATENT: Method for detecting block chain abnormal behavior based on graph embedding; US 11,803,855 B2; 10/31/2023; CPC G06Q 20/4016; 4 claims; assigned to Yantai University.
ABSTRACT: Disclosed is a method for detecting a block chain abnormal behavior based on graph embedding. The method comprises S100: data collection: acquiring public block chain abnormal behavior node data on the Internet, and acquiring normal nodes in a number equal to that of abnormal behavior nodes at the same time; S200: establishment of abnormal behavior recognition model: extracting features of all nodes, constructing the nodes subjected to feature extraction into a transaction graph, and forming the abnormal behavior recognition model based on a graph embedding technology according to the constructed transaction graph; and S300: transaction detection: determining a transaction risk according to the obtained abnormal behavior recognition model when a transaction occurs, and prompting a user of a risk level. According to the method for detecting the block chain abnormal behavior based on graph embedding, abnormal behaviors possibly existing in block chain transactions can be effectively detected and early warned.
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PATENT: Method and system for implementing chargebacks on a distributed ledger system; US 11,803,857 B2; 10/31/2023; CPC G06Q 20/407; 20 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for recording chargebacks in blockchain transactions includes: storing a blockchain comprised of a plurality of blocks, each block being comprised of a block header and data values, where each data value includes a unique transaction identifier and data corresponding to a processed payment transaction; receiving a chargeback request including a specific transaction identifier corresponding to a unique transaction identifier included in a data value in the blockchain; generating a first transaction data value comprising the specific transaction identifier, a first new unique transaction identifier, and data indicating that a chargeback is requested for the corresponding payment transaction; transmitting the first transaction data value to a blockchain node; generating a second transaction data value comprising the specific transaction identifier, a second new unique transaction identifier, and data indicating a resolution for the chargeback for the corresponding payment transaction; and transmitting the second transaction data value to a blockchain node.
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PATENT: Distributed ledgers for enhanced chain of custody certification; US 11,803,864 B2; 10/31/2023; CPC G06Q 30/0185; 16 claims; assigned to Bank of America Corporation.
ABSTRACT: Aspects of the disclosure relate to enhanced chain of custody certification. A computing platform may establish, within a period of time of receiving data, a first distributed ledger that includes the data. The computing platform may receive a request to access the data. The computing platform may compute a first hash of the data indicating a state of the data prior to being accessed, and may record the first hash in a second distributed ledger. After granting data access, the computing platform may receive first information indicating actions performed on the data and second information indicating reasons for accessing the data. The computing platform may compute a second hash of the data indicating a state of the data after being accessed, and may record the second hash and the second information in the second distributed ledger. The computing platform may record, in a third distributed ledger, the first information.
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October 24, 2023
Total CPC G06Q Subclass (business methods) patents issued: 220
Financial industry business method patents reviewed herein: 5
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PATENT: Stablecoin as a medium of exchange on a blockchain-based transaction network; US 11,797,955 B2; 10/24/2023; CPC G06Q 20/0655; 19 claims; assigned to Ceres Cain LLC.
ABSTRACT: Aspects of this disclosure relate to various systems and methods for use in a regulated industry and using an SEC qualified stablecoin as a store of value and medium of exchange on a blockchain-based transaction network. The system includes a stablecoin blockchain system with a stablecoin blockchain framework, a stablecoin ecosystem, and a stablecoin blockchain transaction network. The stablecoin blockchain system facilitates transactions between stablecoin blockchain participants within the stablecoin ecosystem. The stablecoin ecosystem conducts transactions across a stablecoin blockchain transaction network and a distributed blockchain ledger.
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PATENT: Blockchain transaction processing; US 11,797,987 B2; 10/24/2023; CPC G06Q 20/401; 26 claims; assigned to VeChain Foundation Limited.
ABSTRACT: Embodiments of the present disclosure relate to methods, devices, a computer readable storage medium and a computer program product for processing or managing a blockchain transaction. In a method for processing a blockchain transaction, a blockchain node of a blockchain for processing the blockchain transaction receives a transaction request, the transaction request indicating at least a initiator of the transaction, transaction content and a transaction recipient of the transaction. The blockchain node computes, based on the transaction content, a transaction fee for processing the transaction. The blockchain node determines whether the initiator of the transaction is a sponsored user of the transaction recipient, and determines a payment account from which the transaction fee is deducted in response to determining that the initiator of the transaction is a sponsored user of the transaction recipient. The transaction processing and management schemes as provided in the present disclosure enable ordinary users use blockchain services conveniently.
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PATENT: Blockchain-based product authentication system; US 11,798,008 B2; 10/24/2023; CPC G06Q 30/0185; 20 claims; assigned to Touch Point Worldwide, Inc.
ABSTRACT: Methods and systems are presented for providing instant authentication of a product and enhanced user experience with the product via blockchain technologies. A product verification system uses blockchain technologies to track the supply chain process of each instance (e.g., each copy) of a product. Upon receiving a request for authenticating an item, a code provided with the item is scanned. A token corresponding to an instance of a product is determined based on the code. The product verification system traverses a blockchain to access data associated with the token. The item is authenticated based on the data. Additional content provided by the supply chain and/or the manufacturer of the instance of the product may be presented on a user device in response to authenticating the item.
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PATENT: Managing blockchain-based trustable transaction services; US 11,798,050 B2; 10/24/2023; CPC G06Q 30/0619; 20 claims; assigned to Alipay (Hangzhou) Information Technology Co., Ltd.
ABSTRACT: Disclosed herein are methods, systems, and apparatus, including computer programs encoded on computer storage media, for managing blockchain-based trustable transaction services. One of the methods includes: storing order data of an order between a buyer and a seller on a blockchain of a blockchain network, the order data including one or more payment conditions, verifying that the buyer has a trustable automatic payment service guaranteed by a buyer financial institution, generating a smart contract for the order based on the order data on the blockchain, and executing the smart contract to automatically instruct the buyer financial institution to make a payment of the order for the buyer to the seller according to the trustable automatic payment service in response to determining that a payment condition for the payment specified in the smart contract is met based on order status data uploaded to the blockchain.
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PATENT: Blockchain digital cryptocurrency loan system; US 11,798,073 B2; 10/24/2023; CPC G06Q 40/02; 9 claims.
ABSTRACT: A cryptographic blockchain computer network digital cryptocurrency loan system that rewards both the loan holder and the loan paying network users with system utility fund tokens for each loan payment made. System utility fund tokens entitle the system users to receive dividend distributions of passive income from a system digital cryptocurrency investment fund.
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October 17, 2023
Total CPC G06Q Subclass (business methods) patents issued: 204
Financial industry business method patents reviewed herein: 5
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PATENT: Blockchain supported resource transfer communication protocol; US 11,790,334 B1; 10/17/2023; CPC G06Q 20/10; 20 claims; assigned to Block, Inc.
ABSTRACT: Blockchain supported resource transfer communication protocol techniques are described. In an implementation, a semantic message is received encoding parameters to be implemented as part of a resource transfer involving a digital wallet. A quote is generated specifying attributes as part of implementing communication connections to perform the resource transfer in compliance with the parameters specified by the semantic message. An acceptance message is received indicating acceptance of the quote, the acceptance message including credentials of the digital wallet. Generation is initiated of an application executable as part of a blockchain as complying with the parameters and the attributes. Data describing the application as executable as part of the blockchain is transmitted for distribution to the digital wallet. The resource transfer is initiated through execution of the application as part of the blockchain.
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PATENT: Intelligent distributed ledger consent optimizing apparatus for asset transfer; US 11,790,336 B2; 10/17/2023; CPC G06Q 20/102; 20 claims; assigned to Bank of America Corporation.
ABSTRACT: Aspects of the disclosure relate to processing asset transfers. A computing platform may receive an asset transfer request and extract information from it. The computing platform may modify a distributed ledger to include a new block corresponding to the asset transfer request. The computing platform may identify a consensus method by identifying, for each of a plurality of consensus methods, a subset of blocks from the distributed ledger that, when used to execute the corresponding consensus method, result in a lowest energy consumption value in comparison to remaining subsets of blocks. The computing platform may execute each consensus method using the corresponding identified subset of blocks, which may result in establishing consensus to process the asset transfer request. Based on establishing the consensus, the computing platform may direct an event processing platform to process the asset transfer request, which may cause the event processing platform to process the request accordingly.
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PATENT: Multi-actor transaction simulation in a blockchain network; US 11,790,360 B1; 10/17/2023; CPC G06Q 20/389; 24 claims; assigned to Gearlay Technologies Inc.
ABSTRACT: A simulation method implemented at least in part at a node of a blockchain network enables detection of suspected malicious behaviour. When a purchase of a token of interest by a user is detected, information about other queued transactions awaiting committal to the blockchain is retrieved, and a batch of probing transactions is constructed using the information about the queued transactions. The batch includes a probing transaction representing a sale of the token by the user. At the node, the state of the blockchain is overridden so that the user's wallet and other wallets appear to contain bytecode executable to aggregate multiple transactions into a single call, and the batch of transactions is thus executed in a single call. The results are evaluated to determine whether the sale of the token by the user was successful. If the evaluation is not successful, remedial action may be taken.
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PATENT: Cryptocurrency storage distribution; US 11,790,363 B2; 10/17/2023; CPC G06Q 20/4014; 20 claims; assigned to Bank of America Corporation.
ABSTRACT: A computing platform having at least one processor, a memory, and a communication interface may receive, via the communication interface, a transaction request from a participant. The computing platform may identify a user and one or more linked digital wallets associated with the transaction request. The computing platform then may execute an algorithm for comparing the transaction request to predetermined criteria associated with the one or more linked digital wallets. The computing platform may establish, via the communication interface, a first connection with a user computing device and, while the first connection is established, transmit to the user computing device transaction information which, when executed by the user computing device, causes a notification to be displayed on the user computing device.
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PATENT: Data distribution architecture; US 11,790,450 B2; 10/17/2023; CPC G06Q 40/04; 24 claims; assigned to Chicago Mercantile Exchange Inc
ABSTRACT: Disclosed are a system and method, also referred to herein as an architecture, for efficiently communicating a high volume of data from a server over an electronic communications network to geographically disperse recipients, where one or more of those recipients may receive a customized version of that data, e.g., content, timing and/or form. As the data is generated, timing information and/or changes to information regarding customizations is incorporated forming a data stream which is communicated to local data publishers (“LDP's”). Upon receipt, the LDP' s extract the data, customization, or timing information and act accordingly when transmitting the received data to the recipients. Customization is applied to update local control databases which specify the customizations for subsequently received data before transmission. By acting on the messages in real time, e.g., as they are received, the LDP's, even if they don't receive the messages at the same time, then perform the same functions in the same relative order relative to the data stream.
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October 10, 2023
Total CPC G06Q Subclass (business methods) patents issued: 206
Financial industry business method patents reviewed herein: 5
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PATENT: Systems and method for expediting math-based currency transactions; US,783,322 B1; 10/10/2023; CPC G06Q 20/3678; 20 claims; assigned to Wells Fargo Bank.
ABSTRACT: Systems and methods for expediting math-based currency (“MBC”) transactions are described. A financial institution facilitates the expedited MBC transactions. The expedited MBC transactions are achieved by guaranteeing merchants that a pending MBC transaction between the merchant and a customer will be verified by the MBC verification nodes. A provided guarantee can be collected on by the merchant in the event that a guaranteed MBC transaction is not verified by the MBC verification nodes.
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PATENT: Blockchain blacklist anti-money laundering system (BBAMLS); US,783,342 B1; 10/10/2023; CPC G06Q 20/4016; 30 claims; assigned to Wells Fargo Bank.
ABSTRACT: A system and method for checking the sanction status of an entity to determine whether the entity is prohibited from engaging in transactions with an organization. The system and method include receiving a request to form an agreement between an organization and an entity and maintaining, in a sanctioned entity blacklist, associations between a plurality of entities and a plurality of identifiers. Each identifier of the plurality of identifiers indicates that a respective entity of the plurality of entities has sanctioned entity status prohibiting the respective entity from engaging in a transaction with one or more organizations. The system and method include determining a sanctioned entity status associated with the entity based on a digital certificate and the sanctioned entity blacklist. The system and method include generating, responsive to determining the sanctioned entity status associated with the entity, an error condition indicating that the digital certificate failed validation.
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PATENT: Blockchain enabled collaborative transaction information processing for a supply chain; US,783,346 B2; 10/10/2023; CPC G06Q 30/018; 21 claims; assigned to General Electric Company.
ABSTRACT: According to some embodiments, a system may facilitate collaborative transaction processing associated with a supply chain having a first entity and a second entity. In particular, a first entity database may store electronic records including information associated with at least a portion of the supply chain, and a first entity communication port may exchange information via a distributed computer system. A first entity computer processor may retrieve from the first entity database the information associated with the at least a portion of the supply chain. A subset of information about the supply chain may be identified by the first entity computer processor as being of interest to the second entity. The identified subset of information about the supply chain may then be recorded via a secure, distributed transaction ledger.
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PATENT: Deep learning approach for assessing credit risk; US,783,414 B2; 10/10/2023; CPC G06Q 40/03; 36 claims; assigned to Refinitive US Organization LLC.
ABSTRACT: Systems and methods to facilitate credit risk assessment are described herein. The systems and methods described herein relate to implementing and training a credit risk model comprising a document model and a company model. The document model may be configured to read text of a document, understand long range relationships between words, phrases, and the occurrence of one or more financial events, and create a document score that indicates whether the financial events are likely to occur based on that document. A document-model-state vector may be generated that represents important features and relationships identified within each document and across a set of documents for a given entity based on the document scores. The company model may produce a sequence of default probability scores representing overall likelihoods of the occurrence of the financial events for an entity based on the document-model-state vector for documents associated with that entity.
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PATENT: Systems for redeeming shares in an entity holding digital math-based assets; US,783,417 B1; 10/10/2023; CPC G06Q 40/04; 22 claims; assigned to Gemini IP, LLC.
ABSTRACT: A first networked computer system for providing an exchange traded product holding digital math-based assets is disclosed, and may comprise: one or more processors; and non-transitory computer-readable memory having stored thereon machine-readable instructions that cause the one or more processors to perform a method comprising: receiving a first electronic request to redeem a first quantity of units; determining unit information including a second quantity of the first digital asset; obtaining one or more destination digital asset account identifiers that provide access to one or more destination digital asset accounts; initiating the transfer of a third quantity of digital math-based assets from the one or more origin digital asset accounts; broadcasting occurrence of the transfer of the third quantity of digital math-based assets to the decentralized electronic ledger; verifying a receipt of the third quantity of digital math-based assets; and canceling the first quantity of units.
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October 3, 2023
Total CPC G06Q Subclass (business methods) patents issued: 206
Financial industry business method patents reviewed herein:
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PATENT: Secure real-time product ownership tracking using distributed electronic ledgers; US 11,775,945 B2; 10/3/2023; CPC G06Q 20/0655; 21 claims; assigned to The Toronto-Dominion Bank.
ABSTRACT: A processor receives a signal representing data including event information detailing an event involving an entity having a registered ownership interest in a product and loads a portion of a distributed electronic ledger for tracking ownership information associated with the product. The distributed electronic ledger includes, within a block thereof and associated with the product, an event trigger list including entity data associated with each entity having a registered ownership interest in the product and a rules engine including rules associated with event triggers in the event trigger list. The processor determines whether a triggering event corresponding to the event is stored in the event trigger list and, when the event has a corresponding triggering event, determines the associated rule within the rules engine. The processor updates and saves the distributed electronic ledger by performing an action specified by the determined associated rule.
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PATENT: Method and system for improved blockchain performance through aggregation; US 11,775,962 B2; 10/3/2023; CPC G06Q 20/3672; 29 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for periodic aggregation of blockchain transactions for reduced processing times and bandwidths includes: storing at least a cryptographic key pair comprising a private key and a public key and a plurality of unspent blockchain transactions, each unspent blockchain transaction including at least an output address and transaction amount; generating a digital signature using the private key; generating a recipient address using the public key; generating a new blockchain transaction after satisfaction of a trigger condition, the new blockchain transaction including each of the plurality of unspent blockchain transactions as inputs, the digital signature, the recipient address, and a transfer amount based on a summation of the transaction amount for each of the unspent blockchain transactions; and transmitting the new blockchain transaction to a node in a blockchain network.
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PATENT: Synchronized processing of data by networked computing resources; US 11,776,054 B2; 10/3/2023; CPC G06Q 40/04; 20 claims; assigned to Royal Bank of Canada.
FIELD: The present disclosure relates generally to systems, methods, and machine-interpretable programming or other instruction products for the management of data processing by multiple networked computing resources. In particular, the disclosure relates to the synchronization of related requests for processing of data using distributed network resources.
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PATENT: Transactionally deterministic high speed financial exchange having improved, efficiency, communication, customization, performance, access, trading opportunities, credit controls, and fault tolerance; US 11,776,055 B2; 10/3/2023; CPC G06Q 40/04; 32 claims; assigned to Chicago Mercantile Exchange, Inc.
ABSTRACT: The disclosed embodiments relate to implementation of a trading system, which may also be referred to as a trading system architecture, having improved performance which further assures transactional determinism under increasing processing transaction loads while providing improved trading opportunities, fault tolerance, low latency processing, high volume capacity, risk mitigation and market protections with minimal impact, as well as improved and equitable access to information and opportunities.
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PATENT: Controlling price cascade movements in an electronic trading system; US 11,776,056 B2; 10/3/2023; CPC G06Q 40/04; 18 claims; assigned to LIFFE Administration and Management.
ABSTRACT: A disclosed system, method and computer readable storage medium includes mechanism for controlling cascade price movements in an electronic trading system. Price limits control the prices at which traders can place orders. An upper price limit prevents traders from placing orders above the upper limit and a lower price limit prevents traders from placing orders below the lower limit. The gap between the upper limit and the indicative marked price as well as the gap between lower limit and the indicative market price is controlled so as to cause a breaking effect on very rapidly changing market price.
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September 26, 2023
Total CPC G06Q Subclass (business methods) patents issued: 139
Financial industry business method patents reviewed herein: 5
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PATENT: Digital asset price regulation system using distributed ledger transaction processing rewards; US 11,769,183 B2; 9/26/2023; CPC G06Q 30/00; 8 claims; assigned to OptDyn, Inc.
ABSTRACT: A system is provided for regulating the price of digital assets through work performed by a plurality of transaction processing (and/or validating) systems incented by rewards to participate on distributed ledgers such as blockchain networks. The system increases the demand for price regulated digital assets through an automated, tamperproof, hence mandatory conversion of a portion of digital assets received as work rewards for processing transactions in exchange for other digital assets targeted for price control. The system, composed of hardware and software, operates with or without intermediaries, where the reward is ultimately distributed to owners of said transaction processing systems. The system provides a means to control the price of digital assets to stabilize digital currencies, assist regulators to enforce anti-money laundering and tax evasion laws, while optionally providing price reductions using rebates to consumers and subsidies to manufacturers of distributed ledger transaction processing and/or validating systems.
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PATENT: System and method for dynamically managing message flow; US 11,769,203 B2; 9/26/2023; CPC G06Q 40/04; 10 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: System and method for dynamically managing message flow. According to the example embodiments, an intermediary network device or a client device dynamically manages the flow of messages received from an electronic exchange by analyzing the client device's capabilities, such as CPU utilization. Based on a percentage of total CPU utilization, the level of throttling is dynamically adjusted, such that if the percentage of CPU utilization, or load, increases, then throttling is increased from a lower level to a higher level. Similarly, if the percentage of CPU utilization decreases significantly enough, then throttling is decreased to a lower level.
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PATENT: Systems and methods of matching customizable data transaction requests; US 11,769,204 B2; 9/26/2023; CPC G06Q 40/04; 20 claims; assigned to NASDAQ, Inc.
ABSTRACT: A computer system is provided that allows participants to submit agent data structures for processing. Each agent data structure includes a valuation function for a first resource and a property of a second resource. The computer system performs a dual sided evaluation process to determine when contra-sided agents match with one another. A match is determined by comparing results of valuation functions of the agent data structures.
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PATENT: System and method for controlled market data delivery in an electronic trading environment; US 11,769,205 B2; 9/26/2023; CPC G06Q 40/04; 16 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: A system and methods for controlled market data delivery are described. According to one example embodiment, upon detecting a preset threshold of updates in a queue at a gateway, a predetermined number of market updates may be processed before any data is sent to a client terminal. According to one method, update types may be used to control how many updates are processed before any data is sent. Also, once the number of updates to be processed is set, a market update having a higher priority update type may be used to trigger a change in the number of market updates that was set for processing.
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PATENT: Method and system for conducting and recording insurance claim transactions using blockchain; US 11,769,209 B2; 9/26/2023; CPC G06Q 10/08; 18 claims; assigned to MediConCen Limited.
ABSTRACT: A method and system for conducting and recording insurance claim transactions using blockchain is provided. The method comprises the steps of: receiving a first verification element from a claimant at an authenticated provider device of a provider; verifying an eligibility of said claimant at a financer and an eligibility of said provider at a provider network according to said first verification element and said provider device; receiving a second verification element from said claimant at said provider device, said second verification element being distinct from said first verification element; conducting said insurance claim transaction by triggering a transaction chaincode at said provider device according to said second verification element; recording an entry of said insurance claim transaction on a blockchain ledger of a blockchain system; wherein a hashed value of an irreversible hash of said first verification element and said second verification element is stored in a global ledger of said blockchain system, and said entry of insurance claim transaction is stored in a private ledger of said blockchain system only accessible by said financer and said provider network; wherein a proof of claim of said insurance claim transaction is collected from said provider device at the time said transaction chaincode is triggered.
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September 19, 2023
Total CPC G06Q Subclass (business methods) patents issued: 204
Business method patents reviewed herein: 5
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PATENT: Artificially intelligent computing engine for travel itinerary resolutions; US 11,763,212 B2; 9/19/2023; CPC G06Q 10/025; 19 claims; assigned to Amgine Technologies (US), Inc.
ABSTRACT: Systems and methods for fulfilling travel requests are described herein. A method for fulfilling travel requests may commence with receiving a travel request from a user and determining itinerary components based on the travel request. The method may further include generating an itinerary network based on the itinerary components. The itinerary network may be generated by creating a plurality of nodes and creating a plurality of edges within the itinerary network. Each of the plurality of nodes may represent information associated with the travel request. The plurality of edges may represent an order of the plurality of nodes in time based on dependencies between the plurality of nodes. The method may further include generating a travel itinerary responsive to the travel request. The method may continue with presenting the generated travel itinerary to the user on a user interface of a computing device associated with the user.
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PATENT: Systems and methods for synchronizing processing statement deployment across diverse computer networks using a three-tiered artificial intelligence architecture; US 11,763,236 B2; 9/19/2023; CPC G06Q 10/0635; 20 claims; assigned to Citibank, N.A.
ABSTRACT: Systems and methods are described for a three-tiered artificial intelligence architecture that synchronizes processing statement deployment across diverse computer networks. The system may receive, at a user interface, a first request for a first recommendation. The first recommendation includes a set of standardized processing statements for implementing on a function. The system may input the first request into a first network component. The first network component includes first, second, and third models. The first model is trained to generate a library of standardized processing statements. The second model is trained to generate a plurality of standardized processing characteristic values for each standardized processing statement in the library. The third model is trained to generate recommendations of sets of standardized processing statements to functions. The system receives an output from the first network component and generates for display the first recommendation based on the output.
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PATENT: Systems configured to manage cryptocurrency wallets having cost basis tracking and methods of use thereof; US 11,763,274 B2; 9/19/2023; CPC G06Q 20/0655; 20 claims; assigned to Capital One Services, LLC.
ABSTRACT: Cryptocurrency can be stored in a plurality of cryptocurrency wallets associated with a plurality of respective users and managed by establishing a unit cost basis value for each cryptocurrency unit in a fiat currency. For example, a purchase request is received by a server computer from a user device. The purchase request is associated with a merchant to be paid in a cryptocurrency chosen by a user and stored in a cryptocurrency wallet of the user. A cryptocurrency exchange from multiple cryptocurrency exchanges having the best cryptocurrency exchange rate is identified for converting the chosen cryptocurrency to the fiat currency. A gain for the purchase transaction is calculated when the best cryptocurrency exchange rate is greater than the unit cost basis value of the chosen cryptocurrency stored in the cryptocurrency wallet of the user. The fiat currency converted in the identified cryptocurrency exchange is received from the cryptocurrency exchange to pay the merchant.
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PATENT: System and method for cryptocurrency point of sale; US 11,763,275 B2; 9/19/2023; CPC G06Q 20/0658; 20 claims; assigned to Coinbase, Inc.
ABSTRACT: Systems and methods for enabling auxiliary accounts and/or auxiliary devices to create and process cryptocurrency transactions on a behalf of a primary account while enforcing limited auxiliary entity access to the primary entity's overall transaction information. Cryptocurrency transactions may be point of sale charges. Some methods may include receiving a charge request from a payor system, determining a merchant cryptocurrency address for the charge request, providing the merchant cryptocurrency address to the payor system, generating a transaction that identifies the merchant cryptocurrency address, signing the transaction, broadcasting the transaction, storing the merchant cryptocurrency address in association with information, related to the charge request, detecting a blockchain transaction that identifies the merchant cryptocurrency address, and/or detecting at least one transaction confirmation for the detected blockchain transaction.
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PATENT: Systems and method for conducting and managing cryptocurrency transactions; US 11,763,297 B2; 9/19/2023; CPC G06Q 20/3676; 8 claims; assigned to JPMorgan Chase Bank, N.A.
ABSTRACT: A method for digital coin issuance may include: receiving, at a ledger interoperability service and from a gateway communication service, a request to deposit a digital coin balance for an amount of funds for a client to a client digital coin wallet on a distributed ledger; receiving, at an omnibus account, a transfer of the funds from a client demand deposit account for the client; identifying, by the ledger interoperability service, an address for the client digital coin wallet on the distributed ledger using an address book; submitting, by the ledger interoperability service, a request to the gateway communication service to issue the digital coin balance to the client digital coin wallet and to generate postings for the digital coin balance for the distributed ledger; and receiving, by the ledger interoperability service, confirmation from gateway communication service of writing the digital coin balance to the client digital coin wallet.
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September 12, 2023
Total CPC G06Q Subclass (business methods) patents issued: 187
Financial industry business method patents reviewed herein: 5
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PATENT: Artificial intelligence based project implementation; US 11,755,999 B2; 9/12/2023; CPC G06Q 10/103; 19 claims; assigned to Accenture Global Solutions Limited.
ABSTRACT: In some examples, artificial intelligence based project implementation may include implementing, for a project team, self-evaluation of viability for utilizing a project implementation framework. The project team may be guided on utilization of the project implementation framework. A discussion by the project team may be documented in a digital format during envisioning associated with the project implementation framework, and documented information may be maintained for reference during execution, by the project team, of a journey associated with the project implementation framework. During execution of the journey, implementation of a social contract by the project team may be evaluated. A determination may be made as to whether the social contract is not implemented for at least one specified occurrence associated with the project implementation framework, and at least one impediment associated with the project implementation framework may be identified. The identified impediment associated with the project implementation framework may be remediated.
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PATENT: Systems and methods for virtual currency exchange; US 11,756,013 B2; 9/12/2023; CPC G06Q 20/108; 20 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for initiating a virtual currency exchange includes a merchant computing device a) receiving a message including a user account identifier, payment credential data, and a request for an amount of virtual currency to be delivered; b) transmitting a message delivering the requested amount of virtual currency; and c) receiving a user assignment message that assigns to the merchant an amount of assigned virtual currency from the delivered virtual currency. Steps a, b, and c are performed while the merchant computing device is in a first physical location. The method also includes, subsequent to steps a, b, and c, connecting to a payment network while the merchant computing device is at a second physical location and transmitting, to a virtual currency payment system via the payment network, an assignment completion message including the user account identifier, a merchant account identifier associated with the merchant, and the assigned virtual currency.
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PATENT: Secure management of content distribution data blocks on a blockchain; US 11,756,030 B2; 9/12/2023; CPC G06Q 20/389; 20 claims; assigned to eBay Inc.
ABSTRACT: Technologies are shown for content distribution on a blockchain involving generating a content distribution data block on a content distribution data blockchain, that stores digital content, data identifying the digital content, an owner identifier, an access holder identifier, and a use conditions attribute for identifying use requirements for the digital content. A use requirement is defined in the use conditions attribute. An owner identified in the owner identifier sets the access holder identifier to an identifier for a user entity. An access request is received from the user entity and, in response, whether a current use condition of the user entity satisfies the use requirement in the use conditions attribute is verified. If it is verified that the current use condition of the user entity satisfies the use requirement in the use conditions attribute, the digital content is distributed to the first user entity.
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PATENT: Multicurrency blockchain platform and method of use; US 11,756,031 B1; 9/12/2023; CPC G06Q 20/401; 20 claims; assigned to Coinbase, Inc.
TECHNICAL FIELD: This invention relates generally to the computer networking field, and more specifically to a new and useful system and method for interacting with multiple blockchains by using a multicurrency blockchain platform.
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PATENT: Settings optimization engine using artificial intelligence to enhance client privacy; US 11,756,112 B2; 9/12/2023; CPC G06Q 40/02; 20 claims; assigned to Bank of America Corporation.
ABSTRACT: Aspects of the disclosure relate to using machine learning to modify account privacy settings. A computing platform may identify initial account settings for an individual of a plurality of individuals. Using a settings optimization model, the computing platform may identify account data and third party data for the individual. Using the settings optimization model, the computing platform may identify discrepancies between the initial account settings for the first individual and account settings for a subset of the plurality of individuals having common characteristics with the individual. Based on the discrepancies, the computing platform may identify settings modifications for the individual, and may determine that a modification of the settings modifications applies to a detected interaction of the individual. The computing platform may direct an enterprise data source to perform the modification, which may cause the enterprise data source to modify the initial account settings based on the modification.
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September 5, 2023
Total CPC G06Q Subclass (business methods) patents issued: 168
Financial industry business method patents reviewed herein: 5
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PATENT: Method for improving operating profits with better automated decision making with artificial intelligence; US 11,748,758 B2; 9/5/2023; CPC G06Q 20/4016; 20 claims; assigned to Brighterian, Inc.
ABSTRACT: A business method to reverse an authorization request denial made according to general guidelines if the particular customer and the particular transaction pass various threshold tests. Alternatively, each customer is assigned different and independent personal thresholds for transaction types, amounts, times, locations, and context. These thresholds are then applied if an instant payment transaction request is about to be declined.
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PATENT: User control of anonymized profiling data using public and private blockchains in an electronic ad marketplace; US 11,748,784 B2; 9/5/2023; CPC G06Q 30/0269; 22 claims; assigned to Concord Technologies Inc.
ABSTRACT: The disclosure relates to securing and enabling user control of profiling data, blockchain-driven matching of users and advertiser-identified anonymous profiling data records of interest, and smart contracts encoded by blockchain for executing transactions. The system may include an anonymized database of profiling data, which is unlinked to any user. The system may implement a private blockchain to store user-defined settings that provide user control over whether and how the profiling data may be used. If a grant to use the data is received, a link is stored that allows the system to identify a user associated with the anonymous profiling data records. If the grant is revoked, the link may be removed. The system may also implement public blockchain technology to record a public information relating to grants, online marketing transactions, making them verifiable, immutable, and transparent for various stakeholders including advertisers, publishers, and users.
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PATENT: System and method for prioritized automated trading in an electronic trading environment; US 11,748,810 B2; 9/5/2023; CPC G06Q 40/04; 13 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: A system and method are provided for prioritized automated trading. One example method may include receiving a plurality of parameters, where each parameter has an order-related action associated with a trading strategy, and then detecting one or more events that trigger a plurality of order related actions. The method then includes determining priority levels in relation to a plurality of triggered order-related actions using at least one priority rule, and processing the plurality of triggered order-related action in an order associated with the determined priority levels.
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PATENT: Blockchain instrument for transferable equity; US 11,748,811 B1; 9/5/2023; CPC G06Q 40/04; 20 claims; assigned to Equity Shift, Inc.
ABSTRACT: Systems and methods for offering and purchasing tokenized securities on a blockchain platform meeting current and future federal, state, and offering and holding entity rules and regulations. Tokenized securities purchased during or after the tokenized securities offering are tradable on a secondary market. The server computer of the tokenized securities provides an automated transfer capability for tokenized securities holders.
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PATENT: Tracking liquidity order; US 11,748,812 B2; 9/5/2023; CPC G06Q 40/04; 25 claims; assigned to NYSE Group, Inc.
ABSTRACT: A tracking liquidity order and related market center and process are disclosed which allow posting market centers (e.g. exchanges) to fill routable, smaller orders that would have otherwise routed off the posting market center. Such tracking liquidity orders increase the liquidity of that posting market center and allow it to execute more orders internally, without having to route them to an away market center.
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August 29, 2023
Total CPC G06Q Subclass (business methods) patents issued: 167
Financial industry business method patents reviewed herein: 5
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PATENT: Augmented intelligence explainability with recourse; US 11,741,429 B2; 8/29/2023; CPC G06Q 10/10; 17 claims; assigned to Tecnotree Technologies, Inc.
ABSTRACT: A method, system and computer-readable storage medium for performing a cognitive information processing operation. The cognitive information processing operation includes: receiving data from a plurality of data sources; processing the data from the plurality of data sources to provide cognitively processed insights via an augmented intelligence system, the augmented intelligence system executing on a hardware processor of an information processing system, the augmented intelligence system and the information processing system providing a cognitive computing function; performing an explainability with recourse operation, the explainability with recourse operation providing an assurance explanation regarding the cognitive computing function; and, providing the cognitively processed insights to a destination, the destination comprising a cognitive application, the cognitive application enabling a user to interact with the cognitive insights.
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PATENT: Integrated priorities and activities alignment, coordination and visualization systems and methods; US 11,741,430 B1; 8/29/2023; CPC G06Q 10/10; 20 claims; assigned to
The Petergren Group, LLC.
ABSTRACT: Systems and methods for constructing a scheme containing one or more statements of a plurality of objectives and for using the constructed system are disclosed herein. The system receives an initial statement of a plurality of objectives related to an organization's strategy. For each objective the construction system provides access to one or more authorized users to enable the one or more authorized users to update the information on the objective; automatically analyzes the updated information to identify relationships in the objectives; automatically updates the information to include the one or more relationships; and automatically converts the updated information into a standardized format to publish the updated, converted information. The system includes storing the converted information on the plurality of components. The system then provides remote access to the updated, converted information to the one or more authorized users.
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PATENT: Cryptographic currency exchange; US 11,741,430 B1; 8/29/2023; CPC G06Q 20/065; 20 claims; assigned to Coinbase, Inc.
ABSTRACT: A system and method for transacting cryptographic currency is described. An exchange database associated with a number of buyers and sellers is maintained at a host computer system. Cryptographic currency is received from one or more of the sellers at an exchange wallet associated with the exchange database. A match is created within the exchange database, including a buy offer for the cryptographic currency from a buyer and a sell offer for the cryptographic currency from a seller. A cryptographic currency withdrawal request is received from the buyer, and in response, the host computer system determines that a total amount of cryptographic currency represented in the exchange database matches a total amount of the cryptographic currency within the exchange wallet, transfers the cryptographic currency to the buyer's wallet, and updates the exchange database by deducting a first value of the cryptographic currency that is transferred to the buyer's wallet.
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PATENT: Blockchain-based transaction mechanisms; US 11,741,439 B2; 8/29/2023; CPC G06Q 20/065; 20 claims; assigned to National Currency Technologies, Inc.
ABSTRACT: A method for implementing a set of transaction mediums dedicated to a common commitment includes obtaining a set of transaction mediums at a first networked transaction node. The method also includes individually transacting each of the transaction mediums to a second networked transaction node in a first transaction. The method further includes individually, separately and uniquely marking each of the transaction mediums with a first identifiable characteristic limited only to the set of transaction mediums.
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PATENT: Systems and methods for streamlining credit and/or debit card transactions utilizing blockchain supported credit tokens and/or debit tokens; US 11,741,441 B2; 8/29/2023; CPC G06Q 20/065; 29 claims; assigned to TraDove, Inc.
ABSTRACT: Systems and methods are provided for processing credit token and debit token based transactions in a blockchain supported network.
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August 22, 2023
Total CPC G06Q Subclass (business methods) patents issued: 169
Financial industry business method patents reviewed herein: 5
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PATENT: Method and system for a failsafe mechanism for blockchain wallets; US 11,734,655 B2; 8/22/2023; G06Q 20/0658; 16 claims; assigned to MasterCard International Incorporated.
ABSTRACT: A method for propagating survival of cryptographic currency after inactivity over a predetermined period of time in a blockchain through the use of smart contracts includes: receiving a propagation request that includes unspent transaction output addresses, a digital signature, and a recipient address; generating a smart contract that is configured to self-execute after a predetermined period of time to initiate transfer of cryptographic currency from the output addresses to the recipient address; submitting the smart contract to a node in a blockchain network for addition to the blockchain; monitoring for new blockchain transactions involving any of the unspent transaction output addresses; generating a new smart contract to update the unspent transaction output addresses based on new blockchain transactions; and submitting the new smart contract to a node in a blockchain network after updating.
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PATENT: Blockchain based loan securitization; US 11,734,756 B1; 8/22/2023; G06Q 40/03; 20 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Examples described herein relate to systems, apparatuses, and methods for generating a securitized loan blockchain, including providing at least one security criterion, identifying at least one loan block of a loan blockchain that satisfies the security criterion, where the loan blockchain corresponds to at least one loan, and the security criterion is associated with the at least one loan block and a dynamic financial profile of a borrower of the at least one loan, and generating a security blockchain including at least a first security block, where the first security block is associated with a loan link identifier object that identifies the loan block of the loan blockchain.
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PATENT: Trade authorization blockchain-based export and valuation system; US 11,734,758 B2; 8/22/2023; G06Q 40/04; 4 claims; assigned to Trade Collaboration Engine, LLC.
ABSTRACT: A system applying semantics from and applying analytics to an uploaded prior approval document to identify legal language terms affecting export approval, associating these terms with synonyms and thesaurus based comparisons and generating a control language common to prior approval agreements, thus increasing a population of trade authorizations in a blockchain and thereby enhancing an automated trade control term ontology repository. In response to a transaction of a digital asset, inter-attribute relationships are applied to evolve valuation blockchain entries for similar digital assets.
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PATENT: System and method for a risk check; US 11,734,759 B2; 8/22/2023; G06Q 40/04; 15 claims; assigned to Trading Technologies International Inc
ABSTRACT: Various systems and methods are described herein for a risk check. The risk check bases a decision to allow a trading strategy to proceed on whether the order quantity for each leg of the trading strategy satisfies a certain condition. Particularly, when a trading strategy is initiated, the quantity for each of the orders to be submitted on behalf of the trading strategy, including the quantity of the initial order and any subsequent orders, is then compared to a corresponding risk value. If the order quantity for each of the orders is less than the corresponding risk value, then the trading strategy can proceed and the initial order can be sent on to the exchange. However, if the order quantity for any of the orders exceeds the risk value, then the initial order is not sent to the electronic exchange. Additionally, as described herein, quantity associated with the trading strategy is held or reserved for execution of the trading strategy regardless of the activity taken by the trader since the trading strategy was initiated. The reserved quantity can be drawn from the trading strategy until the quantity is depleted, the trading strategy has ended, or both, for example.
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PATENT: Systems and methods for operating a math-based currency exchange; US 11,734,760 B1; 8/22/2023; G06Q 40/04; 18 claims; assigned to Wells Fargo Bank, N.A
ABSTRACT: Systems and methods utilized to protect data. One method includes receiving a trade order and determining a current exchange rate for a plurality of different currency transactions. The method further includes determining a trade sequence, generating a first public and private key pair for the trade order and a second public and private key pair, and transmitting the public key of the first public and private key pair. The method further includes receiving a trade confirmation and updating an account balance entry on an overlay ledger. The method further includes broadcasting the trade order to a plurality of MBC verification nodes and in response to the plurality of MBC verification nodes verifying the trade order, updating a blockchain.
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August 15, 2023
Total CPC G06Q Subclass (business methods) patents issued: 202
Financial industry business method patents reviewed herein: 8
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PATENT: Systems and methods for sending and receiving math-based currency via a fiat currency account; US 11,727,395 B1; 8/15/2023; CPC G06Q 20/381; 18 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: A method performed by a processor of a financial institution computing system includes authorizing an account holder to execute transactions in an MBC from a financial account of the account holder that includes funds in a fiat currency. A transaction request is received, including a request to transfer a first amount of funds from the financial account to a recipient. The first amount is defined in MBC. The financial account is debited by a second amount, which is an amount of fiat currency equivalent to the first amount of MBC. A service call is transmitted to the MBC partner. The service call includes instructions to create a temporary account to hold the MBC, to exchange the second amount from fiat currency to MBC, to credit the temporary account with the funds exchanged to MBC, and to transfer the first amount in MBC from the temporary account to the recipient.
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PATENT: Methods and apparatus for mortgage loan securitization based upon mortgage servicing stored on blockchain; US 11,727,484 B2; 8/15/2023; CPC G06Q 40/03; 20 claims; assigned to Ranieri IP, LLC.
ABSTRACT: Apparatus and methods for creation of securities based upon servicing records verified via a blockchain distributed ledger. The Blockchain is distributed to Participants in the Loan, such as the Borrowers, Regulators, Servicers, and Vendors. Participants may submit an aggregation criteria, such as for example a criteria used for selecting loans to be included in a securitization pool. The present disclosure further provides a method for homogenizing a variety of loan criteria and memorializing execution of a smart contract on the Blockchain.
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PATENT: System and method for improved distribution of market information; US 11,727,485 B2; 8/15/2023; CPC G06Q 40/04; 15 claims; assigned to Trading Technologies International Inc.
ABSTRACT: A data distribution system and method are described herein to improve the distribution of market information to subscribing client devices. Market information updates are provided to subscribing devices over a communication link every time a change in the market occurs. If a bandwidth limitation is reached on the communication link, the preferred embodiments switch to a second mode of transmission such that the market information updates are provided only at predetermined intervals. The preferred embodiment monitors the bandwidth consumption to determine what mode of transmission to apply, and in response, it can dynamically change between modes of transmission. By dynamically adjusting the mode of transmission to comport with the current network bandwidth, the preferred embodiments may provide a network friendly, data intensive, and fast response market information feed.
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PATENT: User action for continued participation in markets; US 11,727,487 B2; 8/15/2023; CPC G06Q 40/04; 7 claims; assigned to Trading Technologies International Inc.
ABSTRACT: The state of a trade order may be defined and/or maintained in response to user action at a trading device. A trading device may receive a user action on a graphical user interface (GUI). The user action may cause the submission of the trade order to the electronic exchange. The trading device may receive a user action on the GUI to define an active order state. The trading device may maintain the order state until receiving an identified user action on the GUI to change the order state to inactive, which may cause the trade order to be canceled or held at the electronic exchange. The user action causing the change in the order state may be an active use action, such as a selection, or a passive user action, such as a failure to perform a selection. Such user action may encourage user attention when managing trade orders.
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PATENT: System and method for pre-marshalling messages in an electronic trading environment; US 11,727,488 B2; 8/15/2023; CPC G06Q 40/04; 13 claims; assigned to Trading Technologies International Inc.
ABSTRACT: System and methods for pre-marshalling messages in an electronic trading environment are provided. Specifically, pre-marshalling messages allows for client and network devices to create messages in response to a defined first condition. Pre-marshalling messages allows a trading system to do more processing up front before the message is needed and when a second condition is satisfied. Thus, when the message is needed no further or very little processing must be performed to generate and send the message. The client and/or network device may allocate a separate, unused, or under-utilized processing thread to the task of creating pre-marshalled messages. Pre-marshalled messages may be stored in memory at the network device until it is determined that the second condition has been satisfied. Once a pre-marshalled message is sent, the unused pre-marshalled messages that were stored in memory may be deleted or may be overwritten with newly pre-marshalled messages.
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PATENT: Listed options position compression system; US 11,727,491 B2; 8/15/2023; CPC G06Q 40/04; 22 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: Systems are provided for compressing portfolios of open option positions. Market participants may provide constraints, such as net delta and gamma values within a specific tolerance. A compression engine uses a linear, integer and/or linear-quadratic programming solver to analyze portfolios of multiple market participants and identify multilateral option spread trades that result in portfolios that are compressed subject to the constraints.
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PATENT: Cryptographic method and system for secure extraction of data from a blockchain; US 11,727,501 B2; 8/15/2023; CPC G06Q 40/12; 12 claims; assigned to nChain Licensing AG.
ABSTRACT EXCERPT: The invention relates generally to cryptographic techniques for secure processing, transmission and exchange of data. It also relates to peer-to-peer distributed ledgers such as (but not limited to) the Bitcoin blockchain. In particular, it relates to control solutions for identifying, protecting, extracting, transmitting and updating data in a cryptographically controlled and secure manner. It also relates to system inter-operability and the ability to communicate data between different and distinct computing systems.
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PATENT: System and method for automated blockchain custody service for managing a set of custodial assets with block chain authenticity verification; US 11,727,504 B2; 8/15/2023; CPC G06Q 50/01; 26 claims; assigned to Strong Force TX Portfolio 2018, LLC.
ABSTRACT: A system and method for automated blockchain custody service for managing a set of custodial assets with block chain authenticity verification is disclosed. An example system includes an asset identification service circuit structured to interpret assets corresponding to a financial entity configured to take custody of them; an identity management service circuit structured to authenticate a plurality of identifiers corresponding to a plurality of actionable entities entitled to take action with respect to the assets, wherein the identifiers comprise at least one credential; a blockchain service circuit structured to store asset control features in a blockchain structure comprising a distributed ledger configuration; and a financial management circuit structured to communicate the interpreted plurality of assets and authenticated plurality of identifiers to the blockchain service circuit for storage in the blockchain structure as asset control features, and to record the asset control features in the distributed ledger configuration as asset events.
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August 8, 2023
Total CPC G06Q Subclass (business methods) patents issued: 162
Financial industry business method patents reviewed herein: 6
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PATENT: Transferring funds between two parties; US 11,720,866 B1; 8/8/2023; CPC G06Q 20/10; 18 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: A method for transferring funds to a second electronic computing device includes establishing a first pre-paid payment account on a first electronic computing device. The first pre-paid payment account is used to establish one or more second pre-paid payment accounts. The one or more second pre-paid payment accounts have a value that is less than or equal to the first pre-paid payment account. A first account identifier is obtained for one of the second pre-paid payment accounts. The first account identifier is sent to the second electronic computing device. The sending of the first account identifier to the second electronic computing device results in a transfer of ownership of the one more second pre-paid accounts from a first user at the first electronic computing device to a second user at the second electronic computing device.
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PATENT: Blockchain-based product authentication system; US 11,720,906 B2; 8/8/2023; CPC G06Q 30/0185; 20 claims; assigned to Touch Point Worldwide, Inc.
ABSTRACT: Methods and systems are presented for providing instant authentication of a product and enhanced user experience with the product via blockchain technologies. A product verification system uses blockchain technologies to track the supply chain process of each instance (e.g., each copy) of a product. Upon receiving a request for authenticating an item, a code provided with the item is scanned. A token corresponding to an instance of a product is determined based on the code. The product verification system traverses a blockchain to access data associated with the token. The item is authenticated based on the data. Additional content provided by the supply chain and/or the manufacturer of the instance of the product may be presented on a user device in response to authenticating the item.
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PATENT: Cryptographic-token minting scheduler; US 11,720,913 B2; 8/8/2023; CPC G06Q 30/0215; 20 claims; assigned to Rakfin, Inc.
ABSTRACT: Described processes include: obtaining instantiation records of a cryptographic token; selecting historical instantiations of the cryptographic token; determining, based on a measure of central tendency of the adjusted tractable values of the selected historical instantiations, a target tractable value of a new instantiation period; accessing transaction records corresponding to one or more transactions in which amounts of the cryptographic token were transferred to addresses inoperable to transfer received cryptographic tokens to other addresses; identifying, from the transaction records, transactions corresponding to the new instantiation period; and determining to instantiate the cryptographic token for the new instantiation period in response to identifying a set of transactions corresponding to the new instantiation period having an aggregate tractable value meeting or exceeding the target tractable value of the new instantiation period.
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PATENT: Algorithmic model to allow for order completion at settlement or at close using exchange mandated rules for settlement determination; US 11,720,963 B2; 8/8/2023; CPC G06Q 40/04; 17 claims; assigned to Fidessa Trading UK Limited.
ABSTRACT: A system and method for managing and processing Market-On-Close orders for financial instruments by dynamically employing trading strategies according to settlement rules for financial instruments is provided. Techniques disclosed can include the use of an execution model that allows a trader to submit a MOC order using a trading system. The trading system can be configured to store settlement and validation rules corresponding to a given trading instrument and/or exchange and can be configured to execute the order according to the rules specified by an exchange. The model disclosed herein can rely on exchange mandated settlement rules and settlement times, can accept the order prior to the settlement time, and can manage the order according to parameters and details of the execution model and the settlement rules specified by an exchange for a given instrument.
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PATENT: System and method for natural language order fill; US 11,720,964 B2; 8/8/2023; CPC G06Q 40/04; 17 claims; assigned to JPMorgan Chase Bank, N.A.
ABSTRACT: Various methods, apparatuses/systems, and media for implementing a natural language order fill module are disclosed. A database stores data corresponding to trade details of a particular trade. A processor is operatively coupled to the database via a communication network. The processor configures a free-form text box to receive user input data corresponding to the trade details (e.g., abbreviations data, varying sentence syntax data, special characters data and details data, etc.) of the particular trade; implements neural networks algorithm to interpret and extract key trade details data from the receive user input data corresponding to the trade details of the particular trade regardless of text structure of the input data; and automatically fills in corresponding trading ticket fields in real-time based on the extracted key trade details data.
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PATENT: System and method for matching trading orders based on priority; US 11,720,965 B2; 8/8/2023; CPC G06Q 40/04; 11 claims; assigned to BGC Partners, Inc.
ABSTRACT: A system for managing trading orders comprises a memory to store a first trading order for a particular trading product, wherein the first trading order comprises display and reserve portions and is received from a first trader. The memory may store a second trading order for the particular trading product, wherein the second trading order comprises display and reserve portions and is received from a second trader after the first trading order. A processor of the system communicatively coupled to the memory may receive from a counterparty trader a counterorder for the trading product. The processor may use the counterorder to fill the display portions respectively of the first and second trading orders. After filling the display portion of the second trading order, the processor may exclusively offer at least a portion of the counterorder to the first trader for a configurable period of time.
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August 1, 2023
Total CPC G06Q Subclass (business methods) patents issued: 126
Financial industry business method patents reviewed herein: 4
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PATENT: Method and system for trust-based payments via blockchain; US 11,715,099 B2; 8/1/2023; CPC G06Q 20/38215; 20 claims; assigned to Mastercard International Incorporated.
ABSTRACT: A method for processing a trust-based transaction via a blockchain includes: receiving data associated with a proposed trust-based transaction including at least a transaction amount, payment data, and a broker identifier; processing payment for the transaction amount using the payment data; identifying a blockchain address associated with a broker corresponding to the broker identifier; generating a digital token, wherein the digital token is unique to the proposed trust-based transaction; electronically transmitting the generated digital token to a first computing device; and electronically transmitting at least the transaction amount, blockchain address, and at least one of: the generated digital token and data used to generate the generated digital token to a node associated with a blockchain network.
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PATENT: Single-use payment tokens; US 11,715,101 B2; 8/1/2023; CPC G06Q 20/385; 17 claims; assigned to Mastercard International Incorporated.
ABSTRACT: Provided are systems and methods for managing and implementing single-use payment-enabled tokens. In one example, a method may include distributing, via a server, a payment-enabled token to a payment application on a computing device, the payment-enabled token being mapped to a payment account of the payment application via a tokenization service, detecting use of the payment-enabled token as a payment via the payment application, and in response to the detecting, deactivating the payment-enabled token at the server and storing an identifier of the payment-enabled token and an additional data element of the payment-enabled token that identifies the payment account together within a data structure of the server.
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PATENT: Systems and methods of an interface for use in electronic trading; US 11,715,157 B2; 8/1/2023; CPC G06Q 40/04; 10 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: Various systems and methods for presenting and interacting with electronic trading related information on a display screen of a computer system are provided. According to one or more embodiments, buttons are positioned and compressed along an axis, where each button corresponds to a function. A button can be selected through an action of a user input device. A button is removed from the region when a function corresponding to the button is no longer current and when the cursor is not positioned within the region. The remaining buttons, if any, in the region are compressed subsequent to removing the button from the region. A button is not removed from the region when the cursor is positioned within the region.
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PATENT: Methods involving a hub platform and communication network configured for processing data involving time-stamped/time-sensitive aspects and/or other features; US 11,715,158 B2; 8/1/2023; CPC G06Q 40/04; 347 claims; assigned to ClearingBid, Inc.
ABSTRACT: Systems and methods involving a hub platform, communication network, and memory configured for processing data involving time-stamped/time-sensitive aspects and other features are disclosed. In one example, an illustrative system may comprise a hub computer platform and associated computing components configured to generate a plurality of portals including at least first and second portals, including aspects such as automatically updating information displayed therein in real-time between portals, automatically attaching and/or processing timestamps and identifier information that are attached to orders upon receipt and acceptance thereof, automatically generating and/or processing order book data, generating, updating and/or interactively displaying various tabular and/or graphical information such as order information that is automatically processed based on timestamps and/or other inputs and data, and/or generating other GUI features that, for example, may graphically display and automatically update level-of-involvement information.
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July 25, 2023
Total CPC G06Q Subclass (business methods) patents issued: 122
Financial industry business method patents reviewed herein: 7
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PATENT: Cryptocurrency payment network; US 11,710,108 B2; 7/25/2013; CPC G06Q 20/065; 20 claims; assigned to Block, Inc.
ABSTRACT: In one embodiment, a method includes receiving a request for payment associated with a transaction between a first user and a second user, where the request specifies a payment amount in a fiat currency and identifying an indication that the first user intends to satisfy the request for payment using a non-fiat instrument. The method also includes initiating a first transfer of a value corresponding to the payment amount in the non-fiat instrument from a first balance of the first user to one or more service balances of a payment service and initiating a second transfer of a value corresponding to the payment amount in the fiat currency from the one or more service balances of the payment service to a second balance of the second user.
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PATENT: Blockchain-based transaction kiosk; US 11,710,112 B2; 7/25/2013; CPC G06Q 20/18; 20 claims; assigned to BitAccess Inc.
ABSTRACT: The systems and methods described herein provide for facilitating in-person payments at a transaction kiosk. First, the system provides an authentication interface for display at a network-enabled transaction kiosk. A user is authenticated at the kiosk via the authentication interface, and based on that authentication, the system detects a payment application and a payment request corresponding to the user, wherein the payment application is associated with a service provider and the payment request was created with the payment application. Next, the system identifies a user interface scheme associated with the payment application, and then updates the user interface for display at the transaction kiosk to match the user interface scheme, then initiates a blockchain payment based on the payment request.
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PATENT: System and method for a mobile wallet; US 11,710,118 B1; 7/25/2013; CPC G06Q 20/36; 20 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: A mobile device includes at least one processor, a memory and computer-executable instructions stored thereon. The mobile device is structured to determine first geolocation information indicative of a location of the mobile device and determine, based on the first geolocation information, that the mobile device is located within a predetermined geographic region from a plurality of merchant locations. The mobile device generates an electronic alert message regarding the plurality of merchant locations and displays the electronic alert message to the user. The mobile device determines a user selection of a payment card via a mobile wallet application running on the mobile device. Second geolocation information regarding a location of the mobile device is determined. A code generate a code for a purchase transaction is generated. The code includes the second geolocation information, tokenized payment card information, and a merchant identifier.
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PATENT: Using a nested random number-based security ecosystem for block chains for electronic cash tokens and other embodiments; US 11,710,122 B2; 7/25/2013; CPC G06Q 20/389; 20 claims; assigned to Matrics2, LLC.
ABSTRACT: Methods, systems, and apparatuses for block chain security schemes for electronic cash tokens are described herein.
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PATENT: Blockchain-based method and apparatus for managing biological asset object; US 11,710,129 B2; 7/25/2013; CPC G06Q 20/40145; 20 claims; assigned to Alipay (Hangzhou) Information Technology Co., Ltd.
ABSTRACT: The present specification provides a blockchain-based method and apparatus for managing a biological asset object. The method is performed by a node device in a blockchain network, a smart contract for managing a biological asset object is deployed in the blockchain, and processing logic corresponding to contract code of the smart contract includes biological asset object creation logic, the method including: obtaining an asset object creation transaction generated by a client, where the asset object creation transaction includes identification information of a target organism; and invoking the smart contract, executing the biological asset object creation logic, and creating a target biological asset object corresponding to the target organism based on the identification information of the target organism.
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PATENT: Systems and methods for routing trade orders based on exchange latency; US 11,710,183 B2; 7/25/2013; CPC G06Q 40/04; 16 claims; assigned to Trading Technologies International Inc.
ABSTRACT: Systems and methods for routing trade orders based on exchange latency are disclosed. An example method includes measuring a first latency associated with a first exchange based on a processing time of a first trade order; and routing a second trade order from a trading device to one of the first and a second exchange based on the first latency.
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PATENT: Blockchain subrogation claims with arbitration; US 11,710,190 B2; 7/25/2013; CPC G06Q 40/08; 20 claims; assigned to State Farm Mutual Automobile Insurance Company.
ABSTRACT: A shared ledger operated by a group of network participants according to a set of consensus rules manages and resolves subrogation claims between a clamant and a defendant with arbitration. Evidence regarding the value of the subrogation claim is sent to the shared ledger by the parties to the subrogation claim, such as sending data to a smart contract deployed on the shared ledger. The parties to the claim may request arbitration, especially after attempts to settle the claim on-chain between the two parties have failed. An arbitrator may request evidence from the parties and/or request responses from the parties to accept damages calculations and/or settlement offers. Once the claim is resolved, the arbitrator may release funds on the chain to the prevailing party or may accept confirmation that any payments have been made between the parties off-chain.
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July 18, 2023
Total CPC G06Q Subclass (business methods) patents issued: 160
Financial industry business method patents reviewed herein: 10
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PATENT: Virtual currency for managing advertising and content delivery; US 11,704,635 B2; 7/18/2023; CPC G06Q 20/065; assigned to T-Mobile USA, Inc.
ABSTRACT: A content delivery platform may deliver program content segments and advertising content segments to multiple user devices. The content delivery platform may deliver a program content segment to a primary user device of a user for presentation on the primary user device. The content delivery platform may retrieve an advertising content segment from an advertising content store for presentation. The advertising content segment is provided by an advertiser that is sponsoring the presentation of the program content segment on the primary user device. The content delivery platform may send the advertising content segment to a secondary user device of the user for presentation at the secondary user device.
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PATENT: Method and system for blockchain-based vehicle identifiers and wallets for decentralized payments; US 11,704,663 B2; 7/18/2023; CPC G06Q 20/3678.
ABSTRACT: A system for blockchain-based unique identifiers and decentralized payments including a first computerized system that includes a unique identifier, a second computerized system including a gateway device that can communicate with a blockchain network, generate a transaction to transfer a token value responsive to receiving the unique identifier and synchronize the generated transaction to the blockchain network. One of the first computerized system and the second computerized system is installed in a vehicle and the other is installed in a fixed structure.
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PATENT: Systems and methods for bartering services and goods using distributed ledger techniques; US 11,704,726 B1; 7/18/2023; CPC G06Q 30/08; assigned to USAA.
ABSTRACT: Systems and methods described herein track bartering using distributed ledger techniques to, for example, facilitate the establishment of a bartering marketplace that enables users to barter for, and ultimately exchange, services and/or goods with each other. In certain embodiments, a monetary value may be assigned to each service and/or good to be bartered to establish appropriate bartering baselines. In addition, in certain embodiments, additional monetary value exchanges may be tracked for particular exchanges to make sure that the exchanges are fair.
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PATENT: Method and apparatus for real-time treasury applications; US 11,704,727 B2; 7/18/2023; CPC G06Q 40/02; 14 claims; assigned to JPMorgan Chase Bank, N.A.
ABSTRACT: Various methods, apparatuses/systems, and media for accessing data in real time are provided. A plurality of data sources are provided, each including various data corresponding to a user's account held and managed by an institution. A processor implements API connectivity to connect a user's system of choice to each of the plurality of data sources. A receiver receives user's login data associated with the user's account from the user's system of choice. The processor accesses data corresponding to the user's account in real time from the plurality of data sources via the API connectivity; and causes a GUI of the user's system of choice to display the data in real time.
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PATENT: Crypto multiple security asset creation and redemption platform; US 11,704,733 B2; 7/18/2023; CPC G06Q 40/04; 17 claims; assigned to tZero IP, LLC.
ABSTRACT: An asset trading system utilizing a distributed ledger and configured to: when a creation request to create a digital fund token representing at least one share of a fund having a plurality of different assets (i) is received, (ii) is electronically signed with a private key associated with a first addressed account, and (iii) indicates a composition of the at least one share of the fund: place the plurality of different assets represented by the at least one share of the fund into an escrow account; create the digital fund token, wherein the digital fund token indicates the composition of the share of the fund; and record the creation of the digital fund token on a distributed ledger.
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PATENT: System for processing withholding payments; US 11,704,734 B2; 7/18/2023; CPC G06Q 40/04; 17 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: Systems and methods are provided for efficiently processing withholding payments for constructive dividends. A party that receives constructive dividend payments also has a corresponding short position in a withholding financial instrument. A clearing house computer system adjusts the value of a withholding financial instrument in response to receipt of constructive dividend payments. The clearing house computer system determines a variation margin amount for the short party and processes a variation margin payment from the short party to a withholding account through the variation margin settlement system.
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PATENT: Systems and methods for an electronic auction; US 11,704,735 B2; 7/18/2023; CPC G06Q 40/04; 30 claims; assigned to NYSE Group, Inc.
ABSTRACT: Verifiable order message handling for electronic auctions. Electronic order messages are received, with at least one message including an order of a predetermined type having sell order information associated with an entity having securities not previously registered for transactions. Requests for participation in an electronic auction are identified from among the messages. The requests include auction-only order information, with at least one request including the order of the predetermined type. It is determined whether the sell order information in the order of the predetermined type meets a predetermined auction condition based on an auction price. When the sell order information meets the predetermined auction condition, the order is permitted to participate in the electronic auction, such that the order is executed in full in the electronic auction. When the sell order information does not meet the predetermined auction condition, the electronic auction is canceled.
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PATENT: Computerized portfolio management tool; US 11,704,736 B1; 7/18/2023; CPC G06Q 40/06; 20 claims; assigned to Wells Fargo Bank, N.A.
ABSTRACT: Various examples are directed to providing portfolio management tools. For example, a system may generate a portfolio management user interface comprising a first table and a first rebalancing button. The first table may comprise an asset class name column; a model portfolio column indicating asset class weights in a model portfolio; a test portfolio column indicating asset class weights in a test portfolio; a modification column indicating modifications to asset class weights; a modified portfolio column indicating asset class weights in a modified portfolio; and a plurality of rows comprising a first row for a first asset class of the asset classes and a second row for a second asset class of the asset classes. The system may receive an indication that the user selected the rebalancing button and generate a first set of modifications to asset class weights to reduce a difference between the test portfolio and the model portfolio.
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PATENT: Method and system for processing transactions based on transaction archetypes; US 11,704,743 B2; 7/18/2023; CPC G06Q 40/12; 20 claims; assigned to Intuit Inc.
ABSTRACT: Certain aspects of the present disclosure provide techniques for processing transactions in a computing system. An example method generally includes receiving a request to perform an operation with respect to an object included in the request. A system identifies an archetype defining properties of the object included in the request. Based on the identified archetype, the system identifies data repositories to commit data to in order to perform the requested operation and rules for performing the operation with respect to the object. One or more actions are executed against the identified data repositories according to the identified rules.
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PATENT: Futures margin modeling system having seasonality detection; US 11,704,731 B2; 7/18/2023; CPC G06Q 50/06; 26 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: A physical container (e.g., a battery) may be filled up (charged) or emptied (discharged) with energy commensurate with requirements to post a particular amount of collateral. The disclosure provides computing systems and methods for processing data using a novel combination of wavelet techniques and rolling techniques to more efficiently detect seasonality in particular products (e.g., energy products) to more accurately model and determine collateral/margin requirements. A clearinghouse computing device may be configured to generate a margin requirement for a portfolio of products and may include a processor to process instructions that cause the clearinghouse computing device to perform wavelet decomposition and rolling methods on a historical database of records.
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July 11, 2023
Total CPC G06Q Subclass (business methods) patents issued: 95
Financial industry business method patents reviewed herein: 10
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PATENT: Distributed ledger system for automated claim adjudication; US 11,699,131 B2; 4/11/2023; CPC G06Q 10/10; 20 claims; assigned to Synchrony Bank.
ABSTRACT: In one aspect, a distributed ledger system include a first network node configured to detect a triggering condition for processing a claim; collect user and broker information for processing the claim; convert the information from a first computer-readable format to a second computer-readable format; validate the converted information based on corresponding digital signatures; generate claim state objects based on the validated information to be used by each node of the distributed ledger system to execute a smart contract for processing the claim; receive one or more updated claim state objects from a second network node reflecting updated processing status of the claim to be used by each node of the distributed ledger system to execute the smart contract for processing the claim; and process the claim based on results of execution of the smart contract using the one or more updated claim state objects.
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PATENT: Systems and methods for monitoring and analyzing financial transactions on public distributed ledgers for suspicious and/or criminal activity; US 11,699,159 B2; 4/11/2023; CPC G06Q 20/4016; 20 claims; assigned to Jumio Corporation.
ABSTRACT: Systems and methods configured for monitoring and analyzing financial transactions on public distributed ledgers for suspicious and/or criminal activity are disclosed. Exemplary implementations may: access public third-party information for addresses involved in financial transactions; correlate a first portion of the public third-party information with transaction addresses; label the financial transactions and/or the addresses according to characteristics, such that individual ones of the addresses either have been labeled or are unlabeled; cluster the financial transactions and/or the addresses into a set of clusters that includes a first cluster; assign levels of risk for suspicious and/or criminal activity to the addresses and the financial transactions; and responsive to comparisons of levels of risk with a threshold, report transactions for suspicious and/or criminal activity.
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PATENT: Cryptocurrency mining selection system and method; US 11,699,183 B2; 4/11/2023; CPC G06Q 40/04; 1 claim; assigned to WT Data Mining and Science Corp.
ABSTRACT: A system and method of optimizing cryptographic mining yields includes analyzing, by a cryptocurrency mining selection system, data associated with factors of interest for one or more cryptocurrencies using machine learning algorithms. Data that is determined to be predictive of the future value of newly mined tokens is used to determine which tokens will have the highest and lowest future values. Based on the predicted value of tokens in the future and the current value of those tokens for each cryptocurrency, the system outputs one or more instructions to buy tokens in cryptocurrencies predicted to increase in value, to sell tokens in cryptocurrencies predicted to decrease in value, and to instruct associated cryptocurrency mining hardware to switch to generating new tokens in one or more selected cryptocurrencies to maximize yields.
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PATENT: Context based filtering within subsets of network nodes implementing a trading system; US 11,699,184 B2; 4/11/2023; CPC G06Q 40/04; 20 claims; assigned to tZero IP, LLC.
ABSTRACT: A method includes generating first messages having a first message type, at a first subset of network nodes in a peer-to-peer network, based on requests received from a first external computing device; submitting second events to the peer-to-peer network, the first events having payloads that are based on the first message type; and using at least one directed acyclic graph (DAG) to attempt to reach a consensus about timestamps in the first events. The method also includes receiving, at a second subset of network nodes, events having different payload types from the peer-to-peer network and filtering for first events having payloads based on the first message type; and when one of the second subset of network nodes receives a first event having a payload that is based on the first message type, converting the payload into a second message that is sent to a second external computing device.
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PATENT: Systems and methods for privacy-preserving inventory matching; US 11,699,185 B2; 4/11/2023; CPC G06Q 40/04; 11 claims; assigned to JPMorgan Chase Bank, N.A.
ABSTRACT: Systems and methods for privacy-preserving inventory matching are disclosed. In one embodiment, in an information processing apparatus comprising at least one computer processor, a method for inventory matching may include: (1) receiving, from each of a plurality of clients, a masked submission comprising an identification of at least one security to buy or sell and a desired quantity to buy or sell; (2) aggregating the masked submissions resulting in a sum of the desired quantities to buy or sell; (3) matching at least two of the clients to conduct a transaction based on aggregation and their respective masked submissions; and (4) conducing the transaction between the matched clients.
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PATENT: Systems and methods for IT supply chain management on a distributed platform; US 11,699,186 B1; 4/11/2023; CPC G06Q 40/04; 20 claims; assigned to EDJX, Inc.
ABSTRACT: Systems and methods for buying, selling, and financing enterprise IT infrastructure capacity on a decentralized and distributed marketplace platform are disclosed. In one embodiment, the decentralized and distributed IT marketplace platform is based on the blockchain technology. In one embodiment, a blockchain-based IT marketplace platform provides a decentralized supply chain for IT assets and financial services and establishes a self-regulating and trustless marketplace of connected consumers, producers, and financiers. In one embodiment, the blockchain-based IT marketplace platform enables developing, executing, financing and monetizing modern, cloud native, enterprise compute infrastructure and software applications.
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PATENT: Systems and methods for computing an index for a binary options transaction; US 11,699,187 B2; 4/11/2023; CPC G06Q 40/04; 18 claims; assigned to CFPH, LLC.
ABSTRACT: Methods, apparatuses, and article of manufactures for receiving a plurality of bids and offers for a binary options instrument. Each bid and offer comprises a quantity and a price. A subset of bids and offers from the plurality of received bids and offers is generated. At least one rule is applied to the subset of bids and offers to generate a reduced subset of bids and offers. A binary options index is computed from the reduced subset of bids and offer. A request for a binary options transaction that is based on the computed binary options index is received.
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PATENT: Banking as a service enabled virtual exchange computing platform; US 11,699,188 B2; 4/11/2023; CPC G06Q 40/04; 20 claims; assigned to Bank of America Corporation.
ABSTRACT: A computing system includes a first computing platform and a virtual exchange computing platform, where the first computing platform provides an application and a first electronic value token and the virtual exchange computing platform is communicatively coupled to the first computing platform. The virtual exchange computing platform receives the information corresponding to the first electronic value token and calculates, via API functions linking to banking as a service (BaaS) functionality processed by a valuation computing platform, a valuation of the first electronic value token. The virtual exchange computing platform causes presentation, via a network and on a first user device, a user interface screen presenting a visualization of a value of the electronic value token and comprising an input and triggers, based on a received trade input from the user interface, a virtual exchange of value involving the first electronic value token.
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PATENT: Scalable enforcement of aggregation constraints within transactions; US 11,699,193 B2; 4/11/2023; CPC G06Q 40/12; 20 claims; assigned to IBM.
ABSTRACT: Embodiments relate to aggregation operations. More specifically, embodiments relate to enforcing an aggregation constraint across a distributed network of compute nodes responding asynchronously. Each compute node individually processes the local partial aggregate value in parallel and asynchronously communicates with a conflict resolution node (CRN).
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PATENT: System and method for blockchain-based network transitioned by a legal contract; US 11,699,201 B2; 4/11/2023; CPC G06Q 50/18; 18 claims; assigned to DocuSign, Inc.
ABSTRACT: A system and method for transitioning a distributed ledger network according to a legal contract that includes: establishing a contract, which comprises generating a set of programmable clauses for the contract by implementing a templating system comprised of a template model that contains the logic of each programmable clause of the set of programmable clauses; operating a distributed ledger network between participants, wherein the distributed ledger network is configured with an application model that maps to the template model; updating the contract state; updating the distributed ledger network according to the application model; in response to at least one update to the contract state, recording an update to the distributed ledger network; and in response to at least one contract-associated update in the distributed ledger network, initiating execution of at least one programmable clause of the contract and recording a subsequent update to the distributed ledger network.
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July 4, 2023
Total CPC G06Q Subclass (business methods) patents issued: 170
Financial industry business method patents reviewed herein: 10
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PATENT: System and method for rendering virtual currency related services; US 11,694,169 B2; 7/4/2023; CPC G06Q 20/065; 27 claims; assigned to OX Labs Inc.
ABSTRACT: Technique introduced here relates to virtual currency related services, and more specifically, to tools for providing crypto or other digital currency (e.g. bitcoin) related services, including bitcoin DNS service, sending bitcoins over social media communication networks, a bitcoin trading platform and secure storage services for bitcoin.
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PATENT: Implementing logic gate functionality using a blockchain; US 11,694,193 B2; 7/4/2023; CPC G06Q 20/3678; 18 claims; assigned to nChain Licensing AG.
ABSTRACT: The invention presents a solution in which blockchain Transactions are created to implement the functionality of a logic gate. The invention may be implemented on the Bitcoin platform or an alternative blockchain platform. The transaction includes a locking script which comprises instructions selected so as to implement the functionality of a logic gate, such as the XOR gate. When the script is executed (because a second transaction is attempting to spend the output associated with the locking script) the inputs will be processed by the conditional instructions to provide an output of TRUE or FALSE. The inputs are pre-processed by one or more computing agents so that they are evaluated to TRUE or FASLE prior to being used as inputs to the script. The second transaction is transmitted to the blockchain network for validation and, if determined to be valid, it will be written to the blockchain. Validation of the second transaction can be interpreted as a TRUE output. Thus, the locking script of the first transaction provides the functionality of the desired logic gate. The invention provides numerous advantages and can be used in a wide variety of applications, such as for the implementation of control systems and unit.
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PATENT: Method and system for directing an exchange associated with an anonymously held token on a blockchain; US 11,694,196 B2; 7/4/2023; CPC G06Q 20/3825; 17 claims; assigned to nChain Licensing AG.
ABSTRACT EXCERPT: The invention provides a method and corresponding system for controlling the generation of a blockchain transaction, and/or the recipient of a transaction output. It can also be used to control and record the ownership of an asset represented on the blockchain without the need for a separate registry of ownership. The ownership and transfers thereof can be handled and recorded without the need for knowledge of the parties involved or their identities.
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PATENT: Object oriented smart contracts for UTXO-based blockchains; US 11,694,197 B2; 7/4/2023; CPC G06Q 20/3825; 10 claims; assigned to BCDB, Inc.
ABSTRACT: Disclosed is method and system for turning existing object-oriented programming languages into smart contract languages without introducing new syntactic features. The invented method and system provide a protocol that enables storing a history of computations on a decentralized computer network, such as UTXO-based blockchain system, for any object-oriented computer language. The invented method and system further provide for storing and updating data on blockchains, where such blockchains may be used in cryptocurrency applications and for smart contracts.
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PATENT: System and method for transferring resources using a blockchain; US 11,694,198 B2; 7/4/2023; CPC G06Q 20/3829; 19 claims; assigned to nChain Licensing AG.
ABSTRACT: A computer-implemented includes sending a public key associated with a particular node in a cyclically-ordered set of nodes participating in a blockchain network to an initiator node; receiving, by the particular node from a node immediately previous to the particular node in the cyclically-ordered set, a first value based on public keys associated with each node from the particular node through to the initiator node; determining a locking value based on the first value and the public key associated with the particular node; and preparing using the locking value, a transaction arranged to transmit control of a resource from a source address associated with the particular node to a receiving address of a node immediately subsequent to the particular node. The control of the resource is to be transmitted responsive to satisfaction of an execution condition including supply of an unlocking value corresponding to the locking value.
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PATENT: Utilizing artificial intelligence to make a prediction about an entity based on user sentiment and transaction history; US 11,694,257 B2; 7/4/2023; CPC G06Q 40/04; 20 claims; assigned to Capital One Services, LLC.
ABSTRACT: A device receives comment information that is associated with users and includes comments provided by the users, about an entity, via social media sources, and receives transaction information that is associated with the users and includes financial transactions of the users with the entity. The device determines correlations between the comment information and the transaction information, where the correlations between the comment information and the transaction information provide weights to the comment information to generate weighted comment information. The device generates a prediction about a future stock price of the entity based on the weighted comment information, the transaction information, and the correlations between the comment information and the transaction information, and provides the prediction about the future stock price of the entity for display.
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PATENT: Authorization of a trading strategy algorithm; US 11,694,259 B2; 7/4/2023; CPC G06Q 40/04; 8 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: Systems, methods, and computer-readable storage media are provided for authorizing a trading algorithm prior to execution of the trading algorithm. An example method includes receiving a trading algorithm definition associated with a unique identifier and sending the unique identifier to an algorithm server that is operable to execute programming code representing the trading algorithm. The unique identifier may be associated with a trader authorized to execute the programming code. The algorithm server may check the unique identifier prior to execution of the programming code to ensure that the trading algorithm has been authorized.
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PATENT: Market data redaction tools and related methods; US 11,694,260 B2; 7/4/2023; CPC G06Q 40/04; 9 claims; assigned to Trading Technologies International, Inc.
ABSTRACT: An example method includes receiving, at a first computing device, market data related to a plurality of tradeable objects. The example method includes displaying, via an interface, the received market data via at the first computing device. The interface is based on an interface object model including a plurality of data components corresponding to the received market data. The example method includes receiving an input selection to share the interface with a second computing device and generating a transfer object model based on the interface object model in response to the receipt of the input selection. The example method includes identifying a first group of the plurality of data components included in the transfer object model and redacting the first group of the plurality of data components corresponding to the received market data components. The example method includes transmitting the redacted transfer object model to the second computing device.
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PATENT: Blockchain instrument for transferable equity; US 11,694,264 B1; 7/4/2023; CPC G06Q 40/04; 20 claims; assigned to Equity Shift, Inc.
ABSTRACT: Systems and methods for offering and purchasing tokenized securities on a blockchain platform meeting current and future federal, state, and offering and holding entity rules and regulations. Tokenized securities purchased during or after the tokenized securities offering are tradable on a secondary market. The server computer of the tokenized securities provides an automated transfer capability for tokenized securities holders.
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PATENT: System and method for centralized clearing of over the counter foreign exchange instruments; US 11,694,265 B2; 7/4/2023; CPC G06Q 40/04; 26 claims; assigned to Chicago Mercantile Exchange Inc.
ABSTRACT: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.
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