Chinese language e-commerce large Alibaba has registered a blockchain-based system patent in Brazil beneath the class of "insurance coverage," "mo
Chinese language e-commerce large Alibaba has registered a blockchain-based system patent in Brazil beneath the class of “insurance coverage,” “monetary enterprise” and “financial enterprise,” in keeping with the March 10th version of the Industrial Property Journal (NPI).
As reported by the NPI, the title of the mechanism is “Ant Unicorn.”
Concerning the monetary resolution, the patent covers actual property companies, bank card cost programs, bill processing and the strengthening of safety to course of transactions.
The report doesn’t specify whether or not the initiative shall be applied in Brazil.
Ant Unicorn expertise to be current within the forex buying and selling
Under are the specs of the patent as registered in NPI:
“International forex switch companies; overseas forex alternate; forex buying and selling; forex dealer; monetary transactions by means of blockchain.”
Ant Unicorn would additionally enter the sphere of bank card issuance and utility invoice cost options.
Nevertheless, the answer highlights throughout the patent’s submitting that they’ll have a selected concentrate on the true property market.
The patent continues to say blockchain expertise because the matrix of the system:
“Provision of loans; granting of momentary loans; monetary transactions by means of blockchain.”
The blockchain just isn’t an unknown expertise in Brazil and continues to collect recognition. As reported by Cointelegraph Brazil on July 12, the Brazilian state of Bahia has launched a blockchain software to trace the method of public bidding on authorities contracts.