Patent · US Active

Systems and methods for fund transfers via blockchain

US12141328B1 · kind B1 · utility

0Cited by

20References

10Claims

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	Nov 12, 2024
Priority date	—
Expiry date	Oct 26, 2040

Classification

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

Abstract

Methods and systems for managing and/or processing a blockchain to maintain data security for confidential and/or personal data are provided. According to certain aspects, the disclosed data security techniques may enable access sharing functionality utilizing the blockchain. The data security techniques disclosed herein also enable the use of smart contracts to transfer funds associated with payment obligations. A node may receive a transaction indicative of a settlement condition of a smart contract being satisfied. Accordingly, the transaction may be compiled into a block of a blockchain and routed to the smart contract. The smart contract may direct a node to transfer funds in accordance with the payment obligations.

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