Chinese language e-commerce big Alibaba has registered a blockchain-based system patent in Brazil within the classes "insurance coverage," "monetary," and "financial," in line with the March 10 version of the Industrial Property Journal (NPI).
As reported within the NPI, the identify of the mechanism is "Ant Unicorn."
Relating to the monetary resolution, the patent covers actual property companies, bank card fee techniques, bill processing and strengthening the safety to course of transactions.
The report doesn’t specify whether or not the initiative will likely be carried out in Brazil.
Ant Unicorn know-how current within the forex buying and selling
Under are the specs of the patent as registered in NPI:
"International forex switch companies; forex alternate; forex buying and selling; forex dealer; monetary transactions via blockchain."
Ant Unicorn would additionally enter bank card issuance and power invoice fee options.
However the resolution highlights inside the patent software that they may have a particular give attention to the actual property market.
The patent continues to quote blockchain know-how because the matrix of the system:
"Loans granted; non permanent loans; blockchain monetary transactions."
The blockchain shouldn’t be an unknown know-how in Brazil and continues to realize in reputation. As reported by Cointelegraph Brazil on July 12, the Brazilian state of Bahia launched a blockchain software to trace the method of public bids on authorities contracts.