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Accenture Awarded Two Patents for Blockchain Interoperability Solutions

April 8, 2019

Accenture Awarded Two Patents for Blockchain Interoperability Solutions

Global consulting firm Accenture has received patents for two solutions pertaining to blockchain interoperability. This news comes by way of information published by the United States Patent and Trademark Office (USPTO) on April 2nd.

Filed in August of last year, the first patent is for a method of cryptologic blockchain interoperability, wherein network participants can share token data stored on a distributed ledger network through the use of a digital signature. Furthermore, participants can send a multi-signature certification message to a recipient who requests information; the recipient is then able to verify the digital signatures with public keys.

Filed last September, the second patent, outlines an interoperability smart contract solution that employs a pre-commit authorization wherein the sender has the ability to lock token data on the blockchain while waiting for the receiver’s confirmation.

Accenture filed another blockchain-based patent last July geared toward improving its logistics network. Per information published on the USPTO website, Accenture wants to employ blockchain technology to make its logistics operations more secure, efficient, and quick.

Earlier this month, Accenture joined the International Association of Trusted Blockchain Applications (INATBA) alongside cryptocurrency companies Ripple and Iota, blockchain development company ConsenSys, and leading information technology company IBM. Formed by the European Union (EU), INATBA’s primary goal is to advance blockchain technology.

Recently, the USPTO granted a new blockchain patent to IBM concerning the implementation of decentralized technology to manage the operations of self-driving vehicles — a growing and competitive space in Silicon Valley.

Elsewhere in the world of blockchain patents, multinational media corporation Thomson Reuters was granted a patent for an identity management system that employs blockchain technology, also on April 2nd. As described in the patent, the system is able to receive an identity from an identity provider system and then store it on a blockchain in the form of an identity token.