Capital One Financial had 30 patents in blockchain during Q1 2024. Capital One Financial Corp has filed patents related to verifying electronic utility data records for sustainable energy utilization, secure cryptographic authentication of contactless cards, transaction exchange platform using a streaming data platform and microservices, and cryptographically secured transfer of an item using blockchain technology. These patents aim to improve security, efficiency, and sustainability in financial transactions and data verification processes. GlobalData’s report on Capital One Financial gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Capital One Financial grant share with blockchain as a theme is 40% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for allocating blockchain incentives (Patent ID: US20240104599A1)
The patent filed by Capital One Financial Corp. describes a system for verifying electronic utility data records to determine authenticity and sustainable energy utilization. The system assigns weighting factors based on sustainable energy usage, generates sustainable energy scores, ranks the records, and provides incentives to computing devices associated with high-ranking records. The system dynamically adjusts the threshold level for incentives based on the weighting factor and computing devices' performance. The method involves creating an oracle to retrieve energy data, verifying records with a utility server, determining sustainable energy proportions, assigning weighting factors, generating scores, ranking records, providing incentives, and adjusting the threshold level. The incentives are linked to mining rewards during blockchain mining, and unauthentic records are rejected without incentives. The system also periodically updates rankings and incentives based on performance, ensuring ongoing optimization of energy-efficient blockchain mining practices. The patent aims to promote sustainable energy usage in blockchain mining by rewarding environmentally friendly practices and encouraging efficient energy consumption.
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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.
