The leader in online Commerce, Amazon has received a patent that allows the company to create a platform for tracking the cryptocurrency transactions in real-time. The patent received a subsidiary of Amazon Technologies.
According to the application, developers can «create real-time control panel, to detect errors and generate alerts, show recommendations, as well as in real-time to create other operational and business decisions.»
In the patent application, Amazon describes a lot of possibilities of application of technology, however, the most interesting of them is related to the cryptocurrency market. Themselves separate data flows on the stock market are of limited value. However, once the transactional data is integrated with information from other sources, «the data stream becomes more valuable.» The patent States:
«For example, the group of online retailers accepting bitcoin transactions, the delivery address may be associated with a bitcoin address a specific customer. Then the company can combine the delivery address with the data of bitcoin transactions, thereby creating the combined data, and then can republish the data in a combined stream.»
Also, the patent notes the importance of technology for the market and for law enforcement. According to Amazon law enforcement officers can use this system to obtain global information about the transactions of bitcoin or for each individual country. The system will correlate transactional data with information Internet service providers, which is associated with a particular network address of bitcoin. Therefore, the system will keep track of addresses that are marked as «fraudulent».
In this case, no additional information would not be necessary – market data will allow you to track all transactions and to transfer them for examination to the authorities. Amazon plans to create such a platform, which will obviously be a strong competitor with other blockchain projects working on the creation of decentralized logistics and regulatory systems.
Over the last few months many large companies have either applied for the patent associated with bloccano or cryptocurrency, or have already received it. For example, in March of this year the canadian TD Bank filed
a patent application for a blockchain system, asset tracking, and in March, Ford received
the patent on the system to optimize road traffic on the basis of cryptocurrency. In addition, the Chinese insurer ZhongAn decided to patent
blockchain to combat counterfeit goods, PayPal has filed
patent application for new method of cryptocurrency transactions, and last December Apple filed
a patent application for a blockchain-based platform for creating and verifying time stamps.