Western Union, Volkswagen, And AT&T Filed The Patents For Apps Based On Blockchain Technology

As a sign of the current exploration of the blockchain technology benefits for big companies, the U.S. Patent and Trademark Office (USPTO) publicized, on July 5th, some patent applications based on this technology filed by Volkswagen, Western Union, and AT&T.

Volkswagen adopts blockchain technology for vehicle-to-vehicle communication

Volkswagen’s patent, the Method application, is a digital storage medium for vehicle-to-vehicle communication. The system is an exchange of messages between vehicles, in which every message is connected to the previous one and cryptographically encrypted

In this system, which employs the immutability and encryption of the blockchain technology, no party can modify the previously released data, presenting a complete negotiation.

Western Union patented its own blockchain technology app

Western Union filed a patent application for a system of notifications of recurrent secure transfers and payments. This app, based on blockchain technology, would permit receiving and processing transactions and data transfer in various domains within electronic networks.

The unprecedented thing with this patent application, however, is that Western Union included cryptocurrencies among the assets that can be transferred on its system’s blockchain.

AT&T to introduce a token as a mean of exchange

AT&T launched the “System and Method for Generating a Secure Token from a Service Provider” which debates the generation of a token by an online service provider based on user account information. This token would be employed as a means of exchange between AT&T and the user for upcoming apps and systems which could be related to an online gaming platform.

The document from AT&T refers to the generation of a secure token and suggests other data that the provider will manage, including the user’s account data. Before, the telecommunication company had already obtained the acceptance of another patent. Namely, in June 2017 AT&T got the green light to implement blockchain technology and cryptocurrency in the collection of its domestic services.

You might like

About the Author: Anna Galvez

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.