U.S. Patent 10805068 was awarded to STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY on October 13, 2020 and is entitled “Systems and methods for feature-based rating via blockchain.” The first named inventor is Douglas Albert Graff of Mountain View, MO. The abstract contains an overview of the patent disclosure:

The present embodiments relate to systems and methods for using a blockchain to record information related to the lifecycle of a vehicle associated with a Vehicle Identification Number (VIN). For example, the VIN lifecycle process may be used to develop safety-feature based insurance models. The systems and methods may include calculating a safety rating for a safety feature based upon data accessed at a blockchain. The safety rating may be used to generate a product associated with a new vehicle type, such as an insurance product covering the new vehicle type. The systems and methods described herein may allow for using a blockchain which gives the option for private information, and permissioned participants in the blockchain. In particular, the systems and methods may allow for a distributed consensus amongst businesses, consumers, and authorities, as to the validity of information and transactions stored on the blockchain. Link to Full Patent

This blockchain patent was originally filed on February 20, 2018  as U.S. Patent Application 15/899799 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10805068. The primary examiner was Longbit Chai.

STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY, who is the original assignee of this patent, has at least 1288 total granted patents in the United States as of the date of this article. This blockchain patent has been cited 5 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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