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US Patent Office Awards Amazon Technologies a Patent For Streaming Data Marketplace

Amazon’s eCommerce subsidiary, Amazon Technologies, was just issued a patent for what's called a streaming data marketplace. The new tech will allow users to see real-time cryptocurrency transactions, but might not be that appealing to those who value privacy.

A new patent has been issued to the eCommerce group Amazon Technologies. According to the patent dated April 17, 2018, the technology allows Amazon to manage and process large amounts of streaming data with low latency.

Simply titled, “Streaming data marketplace”, the abstract of the patent reads in part,

"A technology for a streaming data marketplace is provided. In one example, a method may include requesting to receive a first stream of data from a first source via the streaming data marketplace. The first stream of data may be received and then correlated and combined with data from a second source as a combined stream. The combined stream may then be published to the streaming data marketplace."

The service will allow the ability to process and collect information at hundreds of terabytes of data per hour from thousands of sources, and it will also allow developers to write applications that will process information in real time with relatively low latency. According to Amazon the information may be derived from sources like financial information, marketing, website click-streams and social media.

Transactions are supposed to be visible by all using the network, which will be any/all cryptocurrencies. This may be disconcerting to those who enjoy their privacy since this would be jeopardizing the anonymity seeked by cryptocurrency users. On the other hand, if you're shopping online you must provide your recipient information in the first place. However, in this case others can see your cryptocurrency address along with all of the other information that goes along with it, such as your phone number and physical address.

In the patent, Amazon describes how a transaction might occur:

“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.”

Source: Amazon Technologies Inc. (2018). Streaming data marketplace. 9,947,033.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee