Amazon Technology Inc., a subsidiary of e-commerce and cloud computing giant Amazon (TIKER: AMZN.NASDAQ), has been granted a patent for streaming data service that could allow its subscribers to receive real-time cryptocurrency transactions data.
According to the document filed with the US Patent and Trademark Office (USPTO), the company has developed a technology for processing streaming data on a large scale with relatively low latency.
By combining raw data and data from multiple other sources, the technology adds value to the information being presented to customers and other relevant individuals. One example is a data stream that publishes or includes global Bitcoin (TIKER: BTC.EXANTE) (or any other cryptocurrency) transactions.
“These transactions are completely visible to each participant in the network. The raw transaction data may have little meaning to a customer unless the customer has a way to correlate various elements of the stream with other useful data,” the documents reads.
For example, the firm said, 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,” the filing reads.
Customers that wish to consume data may subscribe to the desired data stream and may optionally select desired enhancements that are not already included in the desired data stream.
The company said that a law enforcement agency may also be a customer and may desire to receive global Bitcoin transactions, correlated by country, with ISP data to determine source IP addresses and shipping addresses that correlate to Bitcoin addresses.
By Siranush Ghazanchyan