U.S. Patent 10733583 was awarded to Alibaba Group Holding Limited on August 04, 2020 and is entitled “Blockchain-based withholding operations.” The first named inventor is Xu Wang of Qinhuangdao, . The abstract contains an overview of the patent disclosure:

Implementations of this specification provide blockchain-based payment withholding operations. An example method performed by a blockchain node includes receiving a withholding transaction from a payment system connected to a blockchain, the withholding transaction having been constructed by the payment system in response to detecting a withholding request whose certificate has been stored on the blockchain; in response to receiving the withholding transaction, invoking verification logic declared in a smart contract, to verify whether the withholding information complies with a withholding rule for a target account between the payment system and a withholding requester; and after verifying that the withholding information complies with the withholding rule, generating a verification success event that causes the payment system to perform deduction processing on the target account based on the withholding information. Link to Full Patent

This blockchain patent was originally filed on February 26, 2020  as U.S. Patent Application 16/801329 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10733583. The primary examiner was William E Rankins.

Alibaba Group Holding Limited, who is the original assignee of this patent, has at least 1834 total granted patents in the United States as of the date of this article. This blockchain patent has been cited 0 times by other U.S. patents according to our law firm research, and can be considered an innovative patent in the field of cryptocurrency and blockchain.

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