US Patent Issued to Bank of America on July 22 for "Satellite data NFT transfer leveraging blockchain and smart contract capabilities" (Indian Inventor)

ALEXANDRIA, Va., July 23 -- United States Patent no. 12,367,466, issued on July 22, was assigned to Bank of America Corp. (Charlotte, N.C.).

"Satellite data NFT transfer leveraging blockchain and smart contract capabilities" was invented by Shailendra Singh (Maharashtra, India).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for establishing an alternative transaction gateway when a default transaction network is down leveraging a network of low-orbit satellites is provided. The method may include creating, using an internet of things ("IoT") device, a non-fungible token ("NFT") associated with a transaction executed at the IoT device. The method may include storing the NFT at the IoT device pending p...