HOBOKEN, N.J., May 11, 2020 (GLOBE NEWSWIRE) -- via NetworkWire The United States Patent and Trademark Office (USPTO) has issued a patent on private blockchains to Ai-Blockchain ("AiB"). Ai-Blockchain is a leading provider of custom artificial intelligence driven and blockchain solutions to clients such as financial exchanges, hospitals, media content providers and supply chain platforms for nearly a decade. Experts consider AiBs patented platform to be the most efficient, secure, and scalable blockchain technology.

U.S. Patent No. 10,579,974, entitled "SYSTEMS, METHODS, AND PROGRAM PRODUCTS FOR A DISTRIBUTED DIGITAL ASSET NETWORK WITH RAPID TRANSACTION SETTLEMENTS," was issued on March 3, 2020. The patent is directed to AiBs core technology which enables private blockchains to transact digital assets quickly between parties such as digital rights management for media companies, financial exchanges and customers, healthcare institutions and physicians, and supply chains and retailers. AiBs combination of leading software technology with foundational computing elements is so unique that the US Patent and Trademark Office has now recognized its innovative components.

Founders Stephen L. Reed and S. Drew Hingorani have created a game-changing approach to security and encryption, transactional speed and client service. For example, AiB developed a HIPAA-compliant data payment platform which can be used by health facilities and hospitals to compensate physicians. In some healthcare organizations, physicians are paid using relative value unit (RVU) based compensation agreements, which are complicated. In these situations, RVU-based formulas are the most critical part of a physician's compensation plan and it is a labor-intensive process which leads to an insurmountable loss of productivity thereby reducing the amount of time devoted to patient care. AiBs solution has solved this challenge. For more information on how to work with AiB, please visit http://aiblockchainalliance.org

This new proprietary blockchain smart contract is built upon the recently open-sourced high-performance Kafka blockchain technology, which is available on GitHub today via the following link: https://github.com/ai-coin/KafkaBlockchain. Anyone interested in a free architecture diagram tutorial to enhance their existing infrastructure enterprise technology should contact AiB immediately.

Stephen Reed, developer and AiBs Chief Scientist, says, "Our platform has significant application in the healthcare industry and financial institutions where all stakeholders demand continual improvement of security and efficiency. With this issued patent, Ai-Blockchain can deliver its source code across all industry standards in managing digital asset transfers between two parties or multiple parties. AiBs patented platform is the most efficient, secure and scalable blockchain technology in the world."

Confluent's Kai Waehner, Technology Evangelist, Enterprise Architect, and Global Field Engineer said, "I am really excited about AiB's Kafka add-on, "KafkaBlockchain" to build tamper-evidence into scalable streaming applications using Kafka and its whole ecosystem, including Kafka Connect, Kafka Streams and KSQL. This allows customers to build mission-critical and secure applications on top of battle-tested Kafka infrastructure; without the complexity and immaturity of other blockchain products."

The AiB platform operates seamlessly with Apache Kafka. KafkaBlockchain is a java library for tamper-evidence using Kafka. Messages can be encrypted and made tamper-evident at a rate exceeding 2 million messages per second per topic. AiBs smart contract blockchain product operates efficiently yet consumes a fraction of the energy required by competing blockchains. The architecture also features tamper-evident security, accountability, and transparency with the lowest costs and highest scalability.

Potential use cases include: developing digital identity structures for use with vulnerable populations; enhancing cyber-security to better protect the privacy of all personally identifiable information; securing personal data across financial services; healthcare, real estate, supply chains and other important industries that are migrating to cloud-based solutions.

Ai-Blockchains CEO, Drew Hingorani, states, "We truly appreciate the USPTO issuing our patent as we showcase our healthcare solutions enabling physicians to spend more time with patients and demonstrating our blockchain payment cloud platform for a variety of uses across multiple industries. We continue to develop and enhance our private and public blockchain technology and both the cloud and the on-premise solutions are available for companies to collaborate, deploy, evaluate, study and test. Stephen Reed is a respected technology professional with a strong track record of building and creating originative products while leading engineering teams for over four decades using all technologies. Working with him and the team has been educational and uplifting along with meeting interesting people worldwide.

Joe Bacon, best known for his years of service to Rolls-Royce in the UK, recently stated, "Having researched and conducted proof of concept studies for the industrialization of blockchain technology over several years, a few areas of concern consistently arose: transaction speed, energy consumption, security, data tenancy, and lifecycle costs. I am pleased to say having worked with Ai-Blockchain since 2016, they have addressed all of these issues with their patented technology stack, which utilizes the robust and secure Amazon AWS cloud services for scalability to meet all of the demands of global businesses. I would highly recommend engaging and working with AiB to explore how they can help your business succeed in transforming the way you work, whilst reducing through-life costs compared to Ethereum or other blockchains. I am sure they wont mind me saying that from a return on investment point of view they significantly outperform larger organizations. The AiB team applied sound architectural designs and provided technology product demonstrations that no other Blockchain or software company did in the same way. I will be pleased to see more people working with AiB in 2020."

About Ai-Blockchain:

AiB technology and blockchain solutions bring a new class of products to the world. Ai-Blockchain is a privately held technology company that developed a patented blockchain platform on the cloud. Private and public blockchains are proposed for multiple business uses. AiB consultants and employees work remotely to help prevent the spread of COVID-19. For information on how to join an AiB online video session, please email info@ai-blockchain.com or call +1.201.349.4996.

Media Contact:

Ai-Blockchain50 Harrison Street, Suite 212BHoboken, NJ 07030Email: info@ai-blockchain.com Phone: +1. 201.349.4996

Wire Service Contact: NetworkWire (NW) New York, New Yorkwww.NetworkWire.com212.418.1217 OfficeEditor@NetworkWire.com

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Groundbreaking Patent Issued to Ai-Blockchain for Cryptographic Digital Asset Ledger Solutions - GlobeNewswire