U.S. Patent 11080687 was awarded to BLOCX LLC on August 03, 2021 and is entitled “Systems and methods for blockchain-based transaction settlement.” The first named inventor is Anna Vladi of Glen Rock, NJ. The abstract contains an overview of the patent disclosure:

A system may include a blockchain network, a trust entity, and multiple user devices. A smart contract of the blockchain network may be configured to receive data from the trust entity and transfer digital stable tokens to a first user’s cryptocurrency wallet. The first user may generate a blockchain transaction on the blockchain network in order to transfer some digital stable tokens to a second user. The second user may cash out some of the digital stable tokens via a smart contract of the blockchain network. The smart contract may send an instruction to the trust entity’s computing system to transfer fiat currency into a financial account of the second user. A token cross-chain bridge may also facilitate the exchange of cryptocurrency for digital stable tokens. Link to Full Patent

This blockchain patent was originally filed on July 15, 2020  as U.S. Patent Application 16/930168 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11080687. The assistant examiner was Taylor S Rak.

BLOCX LLC, who is the original assignee of this patent, has at least 1 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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