Capital One Financial had 20 patents in blockchain during Q4 2023. The patents filed by Capital One Financial Corp in Q4 2023 focus on utilizing blockchain technology for assessing and securing credit risk, sharing creditworthiness information through a distributed ledger, providing secure physical storage systems, recovering blockchain wallet items, and securely sharing data stored in a blockchain. These technologies aim to enhance credit assessment processes, improve data security, and facilitate efficient data sharing among financial institutions. GlobalData’s report on Capital One Financial gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Capital One Financial grant share with blockchain as a theme is 60% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for securing risk in blockchain networks (Patent ID: US20230419403A1)
The technology disclosed in this patent by Capital One Financial Corp involves the use of creditworthiness tokens issued on a blockchain network in response to specific financial events to assess and secure credit risk. These creditworthiness tokens are allocated to an identity based on event data received from an external oracle device, reflecting the impact of financial activities on the creditworthiness of the entity. The tokens can be transferred or collateralized, representing creditworthiness across various financial institutions. Additionally, the patent outlines the process of storing issuance smart contracts, sending event queries, minting creditworthiness tokens, and managing loan smart contracts to address defaults or late payments.
The blockchain node device described in the patent is equipped with processors and memory to execute instructions related to storing smart contracts, sending event queries, receiving event data, determining creditworthiness tokens, and allocating them to identities. These tokens are transferable and fungible, with the ability to record the original owner's information. Furthermore, the device can handle loan smart contracts, collateral management, and penalty enforcement based on the creditworthiness tokens allocated. The technology aims to streamline credit risk assessment and management processes by leveraging blockchain technology and external data sources to enhance the accuracy and efficiency of credit evaluations.
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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.
