State Farm Mutual Automobile Insurance had 27 patents in blockchain during Q2 2024. State Farm Mutual Automobile Insurance Co has filed patents for systems and methods related to blockchain-based user profiles, marking virtual objects in virtual environments, minting digital assets for user achievements, managing transactions associated with vehicles using distributed ledgers, and maintaining data security for confidential and personal data through blockchain technology. These patents aim to enhance trust profiles, record transactions, transmit notifications, link vehicle identification numbers to non-fungible tokens, and enable access sharing and smart contracts for various purposes. GlobalData’s report on State Farm Mutual Automobile Insurance gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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State Farm Mutual Automobile Insurance had no grants in blockchain as a theme in Q2 2024.
Recent Patents
Application: Systems and methods for generating a blockchain-based user profile (Patent ID: US20240171377A1)
State Farm Mutual Automobile Insurance Co. has filed a patent for a system and method that generates a blockchain-based user profile. The system receives blockchain IDs associated with a user and identifies blockchain transactions linked to these IDs to create a trust profile based on the transactions. This trust profile includes user information derived from the blockchain transactions. The system can determine the validity of a user's request to perform an activity based on the trust profile and specific events associated with the transactions.
The patent outlines a blockchain-based system that utilizes blockchain IDs to generate trust profiles for users by analyzing blockchain transactions. By determining the authenticity of events and assigning weights to them, the system can authorize user requests for activities. Additionally, the system can update trust profiles based on new blockchain transactions or non-blockchain transactions associated with the user. The patent also covers methods for establishing communication sessions between the system and computing devices to facilitate data transmission for authorized activities.
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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.
