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The financial services giant American Express (Amex) has filed a patent for a blockchain-based system to capture and transmit the image of a receipt, according to the US Patent and Trademark Office (USPTO) patent application published on 13 November.
The patent applicant is listed as American Express Travel Related Services Co., Inc., the company's travel subsidiary. The new archive, entitled "Linking digital images with related records", includes a new method for receiving, recording and transmitting the image of a receipt.
The file describes how the system allows a user with a mobile device to capture the image of a receipt. The system then, through "optical character recognition", decrypts the image and compares it to "related records", ie transaction history.
The repository mentions the use of "data blocks" and specifies that "Any database discussed here may include the relational, hierarchical, graphical, blockchain or object-oriented structure and / or any other database configuration."
The advantages reported by the use of blockchain technology, in particular for data storage, are further processed in the repository:
"The blockchain structure can include a distributed database that maintains a growing list of data records.The blockchain can provide more security because each block can contain individual transactions and the results of any blockchain executable."
In July, American Express Travel Related Services Co. filed another patent for a blockchain-based system that would automate payment proofs by encrypting payment payload data with a public key on an initial node of a blockchain.
Earlier this spring, Amex announced it was integrating blockchain to allow merchants to design custom offers for cardholders in order to increase customer engagement.
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