U.S. Patent 10762506 was awarded to UNITED SERVICES AUTOMOBILE ASSOCIATION (USAA) on September 01, 2020 and is entitled “Token device for distributed ledger based interchange.” The first named inventor is Duane Matthew Cash of Mountain View, CA. The abstract contains an overview of the patent disclosure:

A portable token device is described, the token device useable to request transactions performed over an interchange system. The token device authenticates a user through the use of biometric data such as a fingerprint. When in proximity to a point of sale (POS) terminal, the token device communicates with the POS terminal over a wireless network to authorize a transaction involving the user. The interchange system employs blockchain elements that can be used in a payment apparatus for managing payments or other types of transactions, and for managing user accounts. The interchange system enables users to enroll in the system, and enables the various users’ computing devices to be used as confirmation centers for new transactions and/or funds transfers between users. Link to Full Patent

This blockchain patent was originally filed on May 11, 2017  as U.S. Patent Application 15/592925 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10762506. The primary examiner was Clifford B Madamba.

UNITED SERVICES AUTOMOBILE ASSOCIATION (USAA), who is the original assignee of this patent, has at least 1657 total granted patents in the United States as of the date of this article. This blockchain patent has been cited 3 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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