U.S. Patent 10778438 was awarded to Alibaba Group Holding Limited on September 15, 2020 and is entitled “System and method for controlling restrictions on digital asset.” The first named inventor is Wenlong Yang of Huizhou, . The abstract contains an overview of the patent disclosure:

Methods, systems, and apparatus, including computer programs encoded on computer storage media, for controlling restrictions on digital asset. One of the methods includes: detecting a triggering event for derestricting a quantity of a digital asset associated with a tangible asset, wherein the tangible asset corresponds to a blockchain contract deployed on a blockchain; generating a blockchain transaction for transferring the quantity of the digital asset from a restricted blockchain account associated with the blockchain to an unrestricted blockchain account associated with the blockchain, wherein the blockchain transaction invokes the blockchain contract corresponding to the tangible asset; and sending the blockchain transaction to a blockchain node for adding to the blockchain. Link to Full Patent

This blockchain patent was originally filed on January 14, 2020  as U.S. Patent Application 16/742005 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10778438. The primary examiner was Thanhnga B Truong.

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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