Block had eight patents in regtech during Q2 2024. Block Inc’s patents filed in Q2 2024 focus on decentralized nodes managing decentralized identities, payment devices using temporary tokens for transactions, and batch-processing open tabs for customers. The decentralized nodes store, receive, and transmit data based on rules, while the payment device generates and stores temporary tokens for transactions. The batch-processing system identifies user data, authorizes transactions, and settles transactions via a batch process when triggered by an event. GlobalData’s report on Block gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Block had no grants in regtech as a theme in Q2 2024.
Recent Patents
Application: Access controls for a decentralized network (Patent ID: US20240161072A1)
Block Inc. has filed a patent for a decentralized node system that generates a network of nodes storing, receiving, and transmitting data based on specific rules. The decentralized node associates decentralized identities with entities and presents user interfaces with access controls for managing third-party access to decentralized identity data. The system locates and transmits decentralized identity data based on rules specified by third-party entities, allowing for secure and controlled data access.
The patent also describes a method for a personal datastore within the decentralized node network to control third-party access through application programming interfaces. Users can specify rules and access controls through a user interface, associating decentralized identity data with specific interfaces. The system can automatically associate data with interfaces using machine learning and allows for uploading data to be accessed by third parties. Additionally, the patent outlines the use of decentralized identifiers to access personal datastores and the implementation of a shared resource for maintaining decentralized identities as part of a distributed state machine.
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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.
