U.S. Patent 10637644 was awarded to Capital One Services, LLC on April 28, 2020 and is entitled “System and method for authorizing transactions in an authorized member network.” The first named inventor is Jeremy Goodsitt of Champaign, IL. The abstract contains an overview of the patent disclosure:

In the disclosed transaction processing system, members of an authorized network of consumers and merchants manage account information using blockchain ledgers. Because both consumers and merchants maintain copies of the blockchain, for any consumer/merchant transaction, both entities can quickly validate the transaction because both are aware, via their blockchain entries, of the current status of the account sourcing the transaction, allowing fast and accurate transaction validation without the need to incur the processing charges inherent in traditional fiat currency credit transactions. Link to Full Patent

This blockchain patent was originally filed on December 21, 2018  as U.S. Patent Application 16/230106 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10637644. The primary examiner was David Garcia Cervetti.

Capital One Services, LLC, who is the original assignee of this patent, has at least 2278 total granted patents in the United States as of the date of this article. This blockchain patent has been cited 1 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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