Share this article
CME to Patent System for Seamless Blockchain Rule Changes
A new patent application from the CME outlines ways in which the rules underlying private blockchains can be rewritten.
By Nikhilesh De
Updated Sep 13, 2021, 7:33 a.m. Published Feb 12, 2018, 8:00 a.m.
Make us preferred on Google
CME Group may be looking at ways for developers to modify a blockchain's rules without requiring consensus from all of the network's nodes, new patent filings show.
It's a key need for such systems, such as those that form part of airline reward points programs and other applications in which a blockchain is used to store and maintain information in real time, the application's authors write. The filing was published last Thursday by the U.S. Patent and Trademark Office (USPTO), having been submitted in December 2016.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
CME cites airline frequent flyer programs as one example of where this system would be needed. If an airline chooses to store its frequent flyer customer data on a public blockchain, it would need to have a process in place to change the rules governing the blockchain in case the airline changes the rules or another aspect of the frequent flyer program itself.
The application notes that while public blockchains are important for cryptocurrencies, their difficult-to-change nature makes them less than ideal for some private and commercial uses.
The application explains:
"One example of a rule change is if the airline wants to increase transaction fees to transfer airline miles between parties. If the airline uses an open blockchain protocol like Bitcoin, where anyone may act as a node or miner, the increase in transaction fees would have to be approved by the blockchain users. The rule change would require virtually every node and miner to update their software before the rule change could take effect. Otherwise, a fork … may occur."
The filing represents the latest blockchain-related intellectual property bid for the derivatives giant. Indeed, CME's past patent filings suggest how the company might look to use the tech to store and manage transaction data in connection with trading venues.
Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk's parent company.
Code image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here is why investors are snubbing Michael Saylor’s 10% dividend offer in Europe
Access and market structure issues limit adoption of Strategy’s first non U.S. perpetual preferred, Stream.
What to know:
- Stream (STRE) is Strategy’s euro-denominated perpetual preferred stock, positioned as a European counterpart to the firm’s high-yield preferred Stretch (STRC).
- Khing Oei, founder and CEO of Treasury, says adoption has been constrained by poor accessibility and opaque price discovery.
Top Stories
