Block had three patents in internet of things during Q4 2023. Block Inc’s patents filed in Q4 2023 focus on wearable devices, such as finger rings, that communicate user information for transactions, making the process more convenient and encouraging use. Additionally, the patents cover a service computing device that manages a virtual cart for buyers, allowing them to easily purchase items from multiple merchant sites with a single transaction. GlobalData’s report on Block gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Block grant share with internet of things as a theme is 33% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for performing transactions (Patent ID: US20230401556A1)
Block Inc. has developed a wearable device, such as a finger ring, that communicates user information to a reader for transaction purposes. The device aims to make transactions more convenient for users by being easily accessible and encouraging use without the need to search for it. The device may be implemented as jewelry, like a ring, to be worn in an exposed manner for quick access.
The system includes a wearable device with electrical circuitry and an antenna for wireless transmission of user information to a reader, which then performs actions based on the received information. The device can authenticate the user, track clock-ins or clock-outs at work, grant access to areas, display user photographs for identity confirmation, provide authorization codes for events, and transmit financial account tokens for payment transactions. The method involves storing user information in the device, wirelessly transmitting it to a reader, authenticating the user, and performing actions based on the information received. The wearable device consists of a ring with electrical circuitry and an antenna for transmitting user information to a reader, which then responds with appropriate actions based on the information provided.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
