American Express (AMEX) subsidiary, American Express Travel Related Services Company, filed a patent for their blockchain use case that helps to identify and match a photograph of a receipt to available transaction records
On November 13, the patent file: Linking digital images with related records was published by the US Patent and Trademark Office. The patent document showed the process involved in correlating receipt images with available stored data, which is done through ‘optical character recognition’.
In the planned blockchain system, data blocks will serve as databases that contain hierarchical, relational, graphical blockchain information, and it also includes configurations. It is equipped with better security required for each block to retain transactions and the completion of blockchain executables.
Diverse Blockchain-Related Patents
Major establishments from various industries are active in filing patents for their own blockchain real-world applications. Some of the most recent filings came from Sony, which wants to use the technology to protect intellectual property; MasterCard has filed one for keeping track of consumer payments through blockchain; and Bank of America, which has more than 50 patents, patented a device for storing private keys.