Alibaba files patent for a blockchain transaction system in Brazil

Monday 16 March 2020 05:28 CET | News

Alibaba has registered a blockchain-based system patent in Brazil under the category of insurance, financial business, and monetary

The name of the mechanism is ‘Ant Unicorn’ and it covers real estate services, credit card payment systems, invoice processing, and the security needed to process transactions, according to Industrial Property Magazine.

The specifications of the patent are foreign currency transfer services, foreign currency exchange, currency trading, currency broker, financial transactions through blockchain. Ant Unicorn would also enter the field of credit card issuance and utility bill payment solutions. However, the solution highlights within the patent’s filing are that they will focus on the real estate market.

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Keywords: Alibaba, Brazil, ecommerce, blockchain, real estate market, Ant Unicorn, credit card, currency, financial transactions
Categories: DeFi & Crypto & Web3
Countries: Brazil
This article is part of category

DeFi & Crypto & Web3

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