Open Text had three patents in blockchain during Q2 2024. Open Text Corp has developed a system of circular blockchains with different structures, including single genesis blocks and multiple genesis blocks. They have also created a Blockchain as a Service (BaaS) platform that allows tenants to authenticate, access, and add transaction blocks to the blockchain, providing both Escrow and Audit capabilities. GlobalData’s report on Open Text gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Open Text had no grants in blockchain as a theme in Q2 2024.
Recent Patents
Application: Circular blockchains (Patent ID: US20240211936A1)
The patent filed by Open Text Corp describes a system for creating a plurality of circular blockchains with different structures, including a single genesis block, multiple genesis blocks, and a combination of genesis block and connection blocks. The system involves a microprocessor executing instructions to establish these circular blockchains, where the last block in each chain links back to the genesis block(s) or connection blocks. The circular blockchains can be locked or active, and may include features like hash values, digital signatures, and locking links to ensure security and integrity.
Additionally, the patent outlines a method for creating these circular blockchains, emphasizing the linking back to genesis blocks or connection blocks. The system can also create non-circular blockchains with individual genesis blocks that are linked together to form a genesis blockchain. Overall, the invention provides a flexible and secure approach to organizing and connecting multiple circular and non-circular blockchains, enhancing the efficiency and reliability of blockchain technology applications.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
