Patent · US Active

Systems and methods for blockchain-based payments

US11270276B1 · kind B1 · utility

7Cited by

15References

20Claims

0Family size

Assignee

State Farm Mutual Automobile Insurance Company · US

Inventors

Melinda Teresa Magerkurth · Utica, US
Eric Bellas · Bloomington, US
Jaime Skaggs · Chenoa, US
Shawn M. Call · Bloomington, US
Eric R. Moore · Heyworth, US
Vicki King · Bloomington, US
Burton J. Floyd · Mackinaw, US
David Turrentine · Normal, US
Steven T. Olson · Bloomington, US
Timothy Caleb Wells · Bloomington, US
Corin Rebekah Chapman · Bloomington, US
Edward W. Breitweiser · Bloomington, US
Robert Gomez · Bloomington, US
Shelia Cummings Smith · Bloomington, US

Key dates

Filing date	Jan 22, 2018
Grant date	Mar 8, 2022
Priority date	—
Expiry date	Sep 26, 2038

Classification

Technology area (CPC H)Electricity
CPC primaryH04L2209/56
WIPO fieldDigital communication
WIPO sectorElectrical engineering

Abstract

Methods and systems for processing a blockchain comprising a plurality of immutable insurance policy payment records corresponding to insurance policies are provided. According to certain aspects, a transaction request indicating a policy payment for an insurance policy may be received at a first node. A block including an insurance policy payment record indicating the policy payment may be added to a blockchain and transmitted to another node for validation. The first node may add the block to a copy of the blockchain, where the block may be identified by a hash value that references a previous block in the blockchain that includes at least one additional insurance policy payment record.

Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.