Amazon Technologies Receives Patent For Streaming Data Marketplace Enabling Cryptocurrency Transaction Data

Amazon Technologies Receives Patent For Streaming Data Marketplace Enabling Real Time Cryptocurrency Transaction Data

A subsidiary of eCommerce giant Amazon, Amazon Technologies, received the patent today for their new streaming data marketplace. This would enable users to receive real-time cryptocurrency transaction according to the document published on April 17.

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In order to meet the demand of organizations that need help managing large amounts of data, Amazon Technologies has developed a way for processing streaming data on a much larger scale with low latency.

This technology will also help developers build real-time dashboards, generate alerts, drive recommendations, capture exceptions, as well as make other real time operational decisions.

The streaming service would be able to process information from several sources such as website click streams, social media, operational logs, marketing and financial information, along with a host of other data.

The patent states that transactions will be completely visible to all participants in the network, which includes global Bitcoin transactions (or any other cryptocurrency transaction).

 “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.”

Customers seeking data may subscribe to their chosen data stream and opt for selected enhancements which may not be inherently a part of their chosen data stream.

In related news, Bank of America file for a patent on a blockchain based storage system. The Winklevoss brothers were also granted a patent for a system which enhances the security of digital transactions within a cloud computing system. This will enable security for data verification.

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