U.S. Patent 11037211 was awarded to Clarovia Holdings, LLC on June 15, 2021 and is entitled “Systems and methods for using smart contracts to control the trade, supply, manufacture, and distribution of commodities.” The first named inventor is Peter Albert Madakson of Tacoma, WA. The abstract contains an overview of the patent disclosure:

The present principles are directed to systems and methods for providing a trading system cooperatively integrated with manufacturing control and distribution systems, and, more specifically, to provide a trading, clearance, settlement, and depository for securities, commodities, and their derivatives (collectively “securities”) that utilize asset-backed, virtualized data tokens and blockchain technology to facilitate price discovery and automated transactions at all stages of the asset development, manufacturing, and distribution of commodities. Link to Full Patent

This blockchain patent was originally filed on August 11, 2017  as U.S. Patent Application 15/675697 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11037211. The primary examiner was Tarek Elchanti.

Clarovia Holdings, LLC, who is the original assignee of this patent, has at least 2 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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