AmEx blockchain patent publicly released

16 Jul, 2018
by Arthur Sillers
AmEx blockchain patent publicly released

A patent application from American Express released publicly today is another in a series of AmEx blockchain technologies it is seeking to develop.

According to the patent, AmEx is trying to expand the ways that customers can provide evidence and records for transactions in addition to traditional receipts and bank statements. The proposed technology would utilize the blockchain's built in security and verification abilities and would go further by possibly allowing those payments to "unlock a hotel, rental or shared economy property door using the card" by referring to payments verified on the blockchain's public ledger.

This follows previous patents that AmEx has been filing which include customer rewards programs which would leverage previous payments to customize rewards based on spending patterns, according to Coindesk. For these patents, AmEx has partnered with Hyperledger, a blockchain consortium which seeks to expand the various applications of blockchain technology into a variety of products.

AmEx's forays into blockchain development represent another step in the bridging of the worlds of traditional finance and blockchain technology.

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