In today’s world, many companies have discovered that blockchain technology is advantageous. As the future of technology, the blockchain can be applied in various industries in a bid to make life easier and more enjoyable. This is why the United States Patent and Trademark Office has received many blockchain patents in recent time. Different companies are trying to capitalize on the blockchain technology.
Xerox Wins Patent For Blockchain Auditing System
One of the most recent companies to win a patent is Xerox. In August, the company filed a patent for a system that will allow people track electronic files that have been revised. The system is based on blockchain technology so it’s credibility is legitimate. According to the information on the patent, Xerox’s tech can detect modifications and track changes made on digital documents. Because the blockchain is decentralized, this system is resistant to tampering.
The system relies on a series of blockchain nodes that have the power to either approve or dismiss modifications made on a document. When a document is revised, the users will receive an alert from the management network. This happens when the revised version is different from the verified version or when a node doesn’t approve the document.
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The company intends to use this new technology to audit electronic files in various industries from FinTech, medical, taxation, law, educational, etc. The filing made reference to how this technology will be useful in criminal investigations. It can be used to track crime scene pictures, interviews, DNA tests, etc. All these documents will be protected from tampering. The filing states that the marks will be irrevocable and thus valid as evidence in court when necessary.
Blockchain Patents Across Major Companies
Xerox is one of many companies that have filed blockchain patents in recent times. The United States Patent and Trademark Office has received blockchain-related applications from many electronic and tech companies. Not too long ago, smartereum.com reported that IBM has filed more blockchain-related patents than any other company in the United States. The most recent patent by IBM is about a technology that can help scientists during research and keep records of results.
Many other tech companies have filed patents for one blockchain-related product or another. While some have come up with useful products that can solve real-world problems, many others haven’t.
Xerox Corporation is an American-based global firm that deals digital and print solutions. It has products in over 160 countries with its headquarters in Connecticut. The company was founded in Rochester, New York and this area has the largest population of employees. In the year 2010, Xerox purchased Affiliated Computer Services for $6.4 billion. Xerox regularly makes the list of Fortune 500 companies.