IBM Will Ensure Transactions via Nodes Data: Blockchain License Patent Is Pending

The technological giant IBM has applied for a blockchain patent. They hope, that it would serve for the development of transaction data identifiers based on nodes. The system is called Node Characterization in Blockchain and is developed to introduce the new method of data extraction, based on the blockchain technology.

It is based on the main blockchain principle, that each node in the blockchain can have some volume of information about the transaction character.

The described feature will serve for a number of functions, such as entity extraction, information analysis and discovery, compliance, text mining and many more functions connected with information and information extraction.

This system will allow authorities monitoring data security over the blockchain. For example, the system offers something that would be really helpful from the regulatory point of view. What about anti-money laundering method? Whenever a node performs a suspicious activity on the blockchain or any violation, it will be detected and the appropriate measures will be taken.

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