China UnionPay had 53 patents in digitalization during Q2 2024. China UnionPay Co Ltd filed a patent related to a blockchain consensus method that involves determining a target sub-blockchain for a target block, adding the block to the sub-blockchain, obtaining valid blocks from multiple sub-blockchains, and globally ranking the valid blocks to create a global blockchain. GlobalData’s report on China UnionPay gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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China UnionPay had no grants in digitalization as a theme in Q2 2024.
Recent Patents
Application: Blockchain consensus method, apparatus, and device, and storage medium (Patent ID: US20240163121A1)
The patent filed by China UnionPay Co Ltd. describes a blockchain consensus method that involves determining a target sub-blockchain for a target block, obtaining sequences of valid blocks from multiple sub-blockchains, and globally ranking these blocks based on logical clocks to create a global blockchain. The method includes steps for generating target blocks, merging field information, verifying output results, and determining parent blocks within the sub-blockchains. Additionally, the method involves synchronizing with other nodes to obtain target blocks and performing verifications based on output results, parent block information, and logical clocks.
Furthermore, the patent details the process of selecting valid blocks within sub-blockchains based on block weights, determining stable and unstable blocks, and globally ranking stable blocks to create the final global blockchain. The apparatus and computer program described in the patent are designed to implement this blockchain consensus method, including modules for matching, screening, and ranking valid blocks based on logical clocks. Overall, the patent outlines a comprehensive approach to achieving consensus in a blockchain system by organizing and ranking blocks from various sub-blockchains to create a coherent global blockchain structure.
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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.
