{"schema_version":"1.0","canonical_url":"https://patentable.app/patents/US-11245513","patent":{"patent_number":"US-11245513","title":"System and method for authorizing transactions in an authorized member network","assignee":null,"inventors":[],"filing_date":"2020-03-18T00:00:00.000Z","publication_date":"2022-02-08T00:00:00.000Z","cpc_codes":["H04L","H04L","G06F","G06Q","G06Q","G06Q","G06Q","H04L","H04L","G06Q","H04L"],"num_claims":20,"abstract":"In the disclosed transaction processing system, members of an authorized network of consumers and merchants manage account information using blockchain ledgers. Because both consumers and merchants maintain copies of the blockchain, for any consumer/merchant transaction, both entities can quickly validate the transaction because both are aware, via their blockchain entries, of the current status of the account sourcing the transaction, allowing fast and accurate transaction validation without the need to incur the processing charges inherent in traditional fiat currency credit transactions."},"analysis":{"summary":null,"layman_explanation":null,"technical_analysis":null,"business_analysis":null,"faqs":null,"topics":[],"tech_cluster":null},"seo":{"title":"System and method for authorizing transactions in an authorized member network","description":"In the disclosed transaction processing system, members of an authorized network of consumers and merchants manage account information using blockchain ledgers. Because both consumers and merchants ma","keywords":[]},"attribution":{"source":"Patentable","source_url":"https://patentable.app","canonical_url":"https://patentable.app/patents/US-11245513","license":"CC-BY-4.0-like","license_terms":"AI-generated analysis on this page (summary, layman_explanation, technical_analysis, business_analysis, faqs) may be reused with attribution and a visible link back to the canonical URL above. Patent abstracts, claims, and bibliographic data are USPTO public domain.","required_link":"https://patentable.app/patents/US-11245513","citation_suggestion":"Patentable. \"System and method for authorizing transactions in an authorized member network\" (US-11245513). https://patentable.app/patents/US-11245513","copyright_holder":"Nomic Interactive Technology LLC"},"links":{"html":"https://patentable.app/patents/US-11245513","json":"https://patentable.app/api/llm-context/US-11245513","site":"https://patentable.app","llms_txt":"https://patentable.app/llms.txt"},"generated_at":"2026-05-31T20:32:48.755Z"}