U.S. Patent 11138576 was awarded to MASTERCARD INTERNATIONAL INCORPORATED on October 05, 2021 and is entitled “Method and system for net settlement of withheld funds via blockchain.” The first named inventor is Aditya Koduri of Gurgaon, . The abstract contains an overview of the patent disclosure:

A method for minimizing inter-bank settlement through incremental updates stored via blockchains includes storing three blockchains: a balance blockchain updated periodically that includes an available balance for a plurality of blockchain wallets, a credit blockchain that includes credits made to a blockchain wallet, and a debit blockchain that includes payments made from the blockchain wallet. Holds are placed on related transaction accounts to enable the blockchain wallets to utilize payments made thereto without the need for a transaction account, where the holds are only updated when necessary based on periodic updates to the balance blockchain, thus minimizing settlements performed by the issuing institutions, thus reducing inter-bank settlements and enabling payees to receive payments from a transaction account without their own. Link to Full Patent

This blockchain patent was originally filed on November 25, 2019  as U.S. Patent Application 16/693648 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11138576. The primary examiner was Frantzy Poinvil.

MASTERCARD INTERNATIONAL INCORPORATED, who is the original assignee of this patent, has at least 1445 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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