U.S. Patent 11200570 was awarded to Alipay (Hangzhou) Information Technology Co., Ltd. on December 14, 2021 and is entitled “Blockchain-based trustable guarantees.” The first named inventor is Hui Zhou of Hangzhou, . The abstract contains an overview of the patent disclosure:

A method includes receiving a cyphertext of a digital document specifying a guarantee and one or more zero-knowledge proofs (ZKPs) related to a value associated with the guarantee; verifying the one or more ZKPs; upon successfully verifying the one or more ZKPs, storing the cyphertext to a blockchain based on performing a consensus algorithm; receiving a first message from a first computing device associated with the beneficiary or a representative of the beneficiary indicating there is no outstanding claim for the guarantee; sending a second message to a second computing device associated with a guarantor to confirm that the guarantor is discharged from undertaking payment under the guarantee; receiving a third message from the second computing device associated with the guarantor requesting the status of the guarantee to be changed to expired; and updating the status of the guarantee stored in the blockchain to indicate that the guarantee has expired. Link to Full Patent

This blockchain patent was originally filed on December 30, 2020  as U.S. Patent Application 17/138712 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11200570. The assistant examiner was Timothy Paul Sax.

Alipay (Hangzhou) Information Technology Co., Ltd., who is the original assignee of this patent, has at least 38 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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