Nomura Research Institute has patented a virtual currency remittance method involving multiple computers connected to a blockchain network. The method includes steps for user authentication, selecting remittance recipients based on conditions, and executing transactions within the network. GlobalData’s report on Nomura Research Institute gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Nomura Research Institute, Virtual banking assistant was a key innovation area identified from patents. Nomura Research Institute's grant share as of January 2024 was 22%. Grant share is based on the ratio of number of grants to total number of patents.

Virtual currency remittance method using blockchain and geographical restrictions

Source: United States Patent and Trademark Office (USPTO). Credit: Nomura Research Institute Ltd

A recently granted patent (Publication Number: US11853978B2) outlines a virtual currency remittance method executed within a system comprising multiple first computers and a second computer connected to a blockchain network. Each first computer includes a database (DB) and blockchain associated with specific channels for virtual currency use. The method involves steps such as communicating with a user's terminal to acquire account discrimination information, displaying remittable accounts based on user context information, determining the recipient account, and executing the transaction within the blockchain network. The system ensures compliance with geographical and temporal conditions for remittance, enhancing security and efficiency in virtual currency transactions.

Furthermore, the patent details additional features such as acquiring user discrimination information, associating user and account discrimination information within a financial institution's account management system, and accessing balance information before executing transactions. By integrating user context, account management, and balance monitoring, the virtual currency remittance method offers a comprehensive solution for secure and streamlined transactions within the blockchain network. These innovative features aim to address the challenges associated with traditional remittance methods, providing a robust framework for efficient virtual currency transfers while ensuring compliance with relevant conditions and user preferences.

To know more about GlobalData’s detailed insights on Nomura Research Institute, buy the report here.

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