Amazon, tech giant wins a patent for data feed marketplace, and it could change cryptocurrency marketplace. The U.S. Patent & Trademark Office has approved the license. It was filed in 2014 by Amazon technologies. However, they have criteria for the data feed marketplace. Below are some examples:
Note from CNBC that states patent examples:
“For example, a group of electronic or internet retailers who accept bitcoin transactions may have a shipping address that may correlate with the bitcoin address. The electronic retailers may combine the shipping address with the bitcoin transaction data to create correlated data and republish the combined data as a combined data stream. A group of telecommunications providers may subscribe downstream to the combined data stream and be able to correlate the IP (Internet Protocol) addresses of the transactions to countries of origin. Government agencies may be able to subscribe downstream and correlate tax transaction data to help identify transaction participants.”
The second example provides how the law enforcement agency may use the information.
“For example, a law enforcement agency may be a customer and may desire to receive global bitcoin transactions, correlated by country, with ISP data to determine source IP addresses and shipping addresses that correlate to bitcoin addresses. The agency may not want additional available enhancements such as local bank data records. The streaming data marketplace may price this desired data out per GB (gigabyte), for example, and the agency can start running analytics on the desired data using the analysis module.”
Looking at both example, I feel optimistic about technologies helping individuals live a better life.
Everything has Pros and Cons. However, I feel it’s better to look at the bright side on how it can help us.
What do you think about Amazon patent for data feed marketplace?