U.S. Patent 10819504 was awarded to Alibaba Group Holding Limited on October 27, 2020 and is entitled “System and method for digital asset transfer.” 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 digital asset buyback. One of the methods includes: obtaining a request for buying back a digital asset from a first blockchain account, the request comprising a quantity of the digital asset; identifying, based on the request, a blockchain contract that is deployed on the blockchain and that corresponds to the digital asset; generating a blockchain transaction for transferring the quantity of the digital asset from the first blockchain account to a second blockchain account associated with digital asset buyback, wherein the blockchain contract comprises a restriction prohibiting transfer of the digital asset out of the second blockchain account; and sending, to a blockchain node for adding to the blockchain, the blockchain transaction for transferring the quantity of the digital asset from the first blockchain account to the second blockchain account. Link to Full Patent

This blockchain patent was originally filed on April 22, 2020  as U.S. Patent Application 16/855891 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10819504. The primary examiner was Mohammed Waliullah.

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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