IBM’s New Patent

Marcin Iwański
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(USPTO), one of the largest IT companies filed a blockchain patent application for the development of node-based transactional data identifiers.

“Node characteristics in a block” is called a patent and is designed to introduce a method for extracting data from nodes in a blockchain to identify different types of transactions. That can prevent, e.g., money laundering, any operation on a blockchain can have a node or several nodes that can carry useful information about the nature of the transaction.

For example, the system proposes a method to prevent money laundering by detecting whether there is a suspicious data in a node and what transactions were made, i.e., looking at daily transfer limits.

As we can find in a patent:

“A method, comprising: identifying a plurality of nodes operating on a blockchain; determining a new blockchain transaction; and determining one or more of the plurality of nodes as having one or more characteristics based on the new blockchain transaction.

(2) The method of claim 1, wherein the one or more characteristics comprise one or more of entity extraction, text mining, information analysis and discovery, compliance, semantic extraction, and ontology-based entity discovery.”

This system is implemented with modules that can be implemented as hardware devices, such as, GPUs, or hardware circuits.

As an IT giant, IBM looks closely at blockchain technology, this year began working with Columbia University to research to stimulate the development of blockchain applications and educational initiatives.

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