Xerox Applies for Blockchain Timestamp Patent

despite the poor information surrounding cryptocurrencies this week, the rush for brand spanking new and modern uses for Blockchain era maintains. A recent patent software by way of Xerox indicates a desire to create a Blockchain-based totally timestamp protocol for statistics including copies or images. The timestamp could be irrevocable, meaning that the information may want to then be admissible in courts as evidence.

The software consists of unique analysis of ways proof of existence can functionally create the correct chain for stamping every records factor. The software says:

“The evidence of existence is a specific example of the evidence of existence provider. In this example, the evidence of lifestyles carrier may be understood as a set of miner nodes who add blocks to [Bitcoin’s Blockchain]. The proof of life is an example handiest. some other carrier that uses the [Blockchain] of the Bitcoin or any other carrier that makes use of the [Blockchain] apart from the Bitcoin may be used as the proof of lifestyles provider.”

Xerox had in advance filed a separate pair of Blockchain-associated patents as properly. The declaration follows on the heels of other important establishments filing patents for Blockchain era applications. bank of the usa, in fact, these days filed nine precise Blockchain generation patent applications relating to fee methodology, bringing their total to over thirty.