IBM to Help Regulators in Transaction Monitoring
August 20, 2018
International Business Machines corporation (IBM), on of the leaders in software manufacture and distribution around the globe, has filed a patent application for node transaction identifiers. This was revealed with the documents published by the US regulator USРТО three days ago.
The project named by IBM as “Node characterization in a blockchain” plans integrating method of data extraction from distributed ledger nodes for identifying various transactions. Thus, each operation in blockchain will have one or several nodes that will include important transaction data.
According to the document, system will be able to extract various types of data including necessary aspects, intellectual text analysis, data localization, etc. this method will affect positively state regulators.
Note that earlier the US bank Capital One filed patent application for authentication and forced user blocking. This system will help in monitoring some basic security factors, like KYC.