US Patent Issued to American Express Travel Related Services on Sept. 23 for "Transaction authorization process using blockchain" (American, Indian Inventors)

ALEXANDRIA, Va., Sept. 23 -- United States Patent no. 12,423,696, issued on Sept. 23, was assigned to American Express Travel Related Services Co. Inc. (New York).

"Transaction authorization process using blockchain" was invented by Balaji Balaraman (Bangalore, India), Andras L Ferenczi (Peoria, Ariz.), Sathish B. Muthukrishnan (Phoenix) and Harish R. Naik (Phoenix).

According to the abstract* released by the U.S. Patent & Trademark Office: "Systems and methods for transaction authorizations using a distributed database are disclosed. The system may allow registered transaction account holders and merchants to interact and complete transactions according to workflows enforced by smart contracts. The system may include an issuer system tha...