Accenture patents two solutions to improve blockchain interoperability

Getting your Trinity Audio player ready...

Accenture has patented two solutions for enhancing interoperability of the blockchain technology.

According to the U. S. Patent and Trademark Office, the first patent was published in August 2018. The patent is a method to make cryptologic blockchains more interoperable. The patent explains that these solutions will allow the users to share their token data using a digital signature on the distributed ledger.

The document also explains that the solution can send a multi-signature certification message to a recipient who solicits information. This means that the receiver can then verify the digital signatures through public keys

Accenture’s second patent was filled in September 2018. The patent is also related to an interoperability smart contract solution. In the document, Accenture explained that this solution would use a pre-commit authorization. With this technology, people would be able to lock token data on the blockchain as this person awaits confirmation from the receiver before sending the tokens.

Last July, Accenture filed another blockchain-based patent aimed at improving its logistics network. According to information published on the USPTO website, Accenture wants to use blockchain technology to make its logistics operations more efficient, secure, and quick.

A few players have also filed to a similar patent solution. Reportedly, the USPTO granted a new blockchain patent to IBM for the implementation of decentralized technology to manage the operations of self-driving vehicles.

The USPTO also granted a patent to a multinational media corporation Thomson Reuters. The patent is for an identity management system that uses blockchain technology. As described in the patent, the system can receive an identity from an identity provider system and then store it on a blockchain in the form of an identity token.

Earlier this year, Accenture was among the few companies assessed by Everest Group as most capable of delivering blockchain solutions successfully. In the report, Accenture’s strengths were in its investments in research that have led to patents, open source contributions, partnerships with other companies and successful delivery of services.

Recently, Accenture joined the International Association of Trusted Blockchain Applications (INATBA). The European Union formed INATBA brings together various companies including cryptocurrency companies Ripple and Iota, leading information technology company IBM, and blockchain development company ConsenSys. INATBA’s primary goal is to advance blockchain technology.