US Patent Issued to State Farm Mutual Automobile Insurance on Aug. 18 for "Hybrid blockchain network for dynamic cross-account transfer operations" (Florida, Illinois Inventors)

ALEXANDRIA, Va., Aug. 18 -- United States Patent no. 12,711,496, issued on Aug. 18, was assigned to State Farm Mutual Automobile Insurance Co. (Bloomington, Ill.).

"Hybrid blockchain network for dynamic cross-account transfer operations" was invented by Ved Kommalapati (Bloomington, Ill.) and Jacob Braun (Oviedo, Fla.).

According to the abstract* released by the U.S. Patent & Trademark Office: "This document describes techniques for performing dynamic transfer operations based on a blockchain ledger without needing to perform computationally expensive cryptographic hash reversal operations. In some cases, an example system stores a hashed identifier on a blockchain ledger, along with one or more ledger values like an account balance value...