Block had seven patents in regtech during Q1 2024. Block Inc’s patents in Q1 2024 focus on utilizing transaction data for presenting search results, expediting transaction processing using integrated in-store and online transactions, and implementing a blockchain-supported resource transfer communication protocol. These technologies aim to enhance user experience, streamline payment processes, and ensure secure and efficient resource transfers. GlobalData’s report on Block gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Block grant share with regtech as a theme is 42% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Using transaction data to present search results (Patent ID: US20240078555A1)
The patent filed by Block Inc. describes a method and system for using transaction data to present search results. The payment service computing platform receives transaction data and a search query from a payment application, determines a user risk metric based on the transaction data, generates a list of entities based on the user risk metric, and presents a portion of the list as search results. The system can identify high-risk users and merchants, display payment options based on risk metrics, and update search results based on updated transaction data.
The method involves accessing transaction data, determining user risk metrics, generating lists of entities, and presenting search results based on risk metrics. It allows for personalized lists of merchants, selection of payment options, and completion of transactions. The system can also rank entities based on user data, update search results with new transaction data, and restrict transactions based on risk thresholds. The use of machine-trained models, user interaction data, and third-party data enhances the accuracy of risk metrics and search results, providing a secure and efficient payment service experience for users.
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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.
