U.S. Patent 11170370 was awarded to Wells Fargo Bank, N.A. on November 09, 2021 and is entitled “Systems and methods for distributed management of negative certificates for blockchain-based value exchange transactions.” The first named inventor is Ramanathan Ramanathan of Bellevue, WA. The abstract contains an overview of the patent disclosure:

A system and methods include a negative certificate authority for distributed management of negative certificates. An authorization restriction is associated with an untrusted user. A negative certificate generated for the untrusted user includes a public key associated with the untrusted user and an authorization restriction. The authorization restriction includes at least one global restriction, which is applicable to each consortium member that subscribes to the negative certificate. The authorization restriction includes at least one local restriction, which allows individual consortium members to further define their own locally applicable restrictions using the negative certificate authority. The negative certificate is accessible to each member of the consortium to enforce the authorization restriction against a transaction request. A secure contributor record including a unique cryptographically generated address is generated for each contributor. In some embodiments, the transaction request is a blockchain-based value exchange transaction, such as a payment transaction using fiat or math-based currency. Link to Full Patent

This blockchain patent was originally filed on July 14, 2017  as U.S. Patent Application 15/650562 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11170370. The primary examiner was Mohammad A. Nilforoush.

Wells Fargo Bank, N.A., who is the original assignee of this patent, has at least 1064 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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