Financial services company American Express sent a new patent application that describes a blockchain-service, allowing you to confirm payments.
A patent application by American Express, was published by the patent and trademark office last week. It is described a platform based on blockchain technology, which is designed to store the information confirming the payment. Thus the company hopes to create a quality system proof of transactions between buyers and sellers without the use of any checks or receipts.
On the platform can be used to store any information that the participants consider necessary: data on transactions, contracts, proof of payment, including the amount of transactions and identification data. The blockchain is likely to be public, so the access to this information will have all stakeholders that will ensure the transparency of transactions. In addition, the public network can use the computing power of user devices to improve safety.
According to the company, this is not the only possible application of this system. For example, the data to be stored in the blockchain, can be used to facilitate access to theatres, movies, concerts, and events. The client will not need to have a ticket, as proof that he paid the visit, will be in the system. In the same way you can arrange delivery rooms in hotels and renting other properties. According to the creators, this system can contribute to the spread of the so-called sharing economy, the economy of collaborative consumption and use.
Recall that this is not the first step American Express in the direction of the sphere of blockchain technology. In October last year, the company began the development of a reward system for users. In may this year she announced that integrates into their system Hyperledger Blockchain. Also recently it became known that American Express is working closely with Ripple and looking for a coordinator for the sales to increase the client base of international money transfers through a network of RippleNet. The company, commenting on this, said that he was going to focus on the introduction of technical solutions to meet customer needs.
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