Amazon technologies granted patent for a streaming data marketplace to receive real-time cryptocurrency transaction data

According to a document released on April 17th, Amazon Technologies, a subsidiary of the e-commerce giant Amazon, received a patent for a streaming data marketplace, which would allow the subscribers to receive real-time cryptocurrency transaction data. This technology will help organizations manage large amounts of data more efficiently.

The filing stated:

“streaming analytics service may enable developers to build real-time dashboards….. capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions”

The data service can process information from website click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, and metering data. By subscribing to the desired data stream, the users can access the data. They can also select the desired enhancements that are not already available in the data stream that they have subscribed to.

This innovation describes how the value of a Bitcoin transaction stream can be increased when it is used with other data and the role that merchants and law enforcement agencies can have in bringing about this change.

It can also be used by a law enforcement agency that wants 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 patent stated. The customer can purchase the data by amount, i.e how much data is used, in megabyte or gigabyte, rather than for an amount of time, like a day, week, or month.

The shipping address can be combined with the information about a Bitcoin transaction, which corresponds to the address, to make a combined data stream by using information available from retailers who accept Bitcoin.

Joe Manzanares, a crypto investor tweeted: 

“If Amazon decides to build the marketplace out, the centralized offering could pose a competitive threat to startups.”

Janet Rodriguez, a Twitter user said:

“Amazon is trying to make a centralized marketplace but i hope that the data is really secure!”

Mary Jones, a Twitter user said:

“all companies are discussing crypto and can’t move fast enough to get their arms around this tech”

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