Amazon’s new patent for data marketplace
Retail king Amazon has won a new patent for a streaming data marketplace that includes Bitcoin use.
The marketplace will allow subscribers to receive real-time crypto transaction data.
The patent describes a platform in which organizations individuals and can place streaming data feeds up for sale.
Customers can then pay to subscribe to those data feeds.
Amazon Technologies, which is a subsidiary of the e-commerce giant, has been awarded the patent.
In addition to the base filing, the application says developers could expand on the data to build tools around it:
“Developers could build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions.”
Amazon lists a number of potential uses for the marketplace in its filing.
These use cases, the patent suggests, could include:
“Web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth.”
Give cryptocurrency transactions more transparency
The marketplace patent contains a notable use focused on the cryptocurrency market, however.
It describes combining Bitcoin and cryptocurrency transaction data with individual streams.
The filing argues that “the data stream may become more valuable” by combining crypto data with info from additional sources.
The marketplace patent states:
“For example, 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.”
Amazon’s filing also states that the marketplace would have potential uses for law enforcement, saying:
“For example, a law enforcement agency may 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.
“The agency may not want additional available enhancements such as local bank data records.
“The streaming data marketplace may price this desired data out per GB (gigabyte), for example, and the agency can start running analytics on the desired data using the analysis module.”
For cryptocurrency users, one of the leading plus-points is the varying anonymity.
For many retailers, however, trading with anonymous customers may be off-putting.
It seems as though Amazon is preparing for this by attaching real-world identities to cryptocurrency transactions.
Although this may go against the ideals of many crypto purists, one could argue that it’s another step towards mass-adoption of cryptocurrencies.