The patent to share secrets with Blockchain

The subject of information is sensitive in various parts of the world, especially in the United States, where they prefer to be reserved with the information they share, however, your government likes to know it to protect the citizens themselves. Using Blockchain to prevent anyone from knowing may be a problem, but the patent was also requested.

Source

Factom, a system to audit and secure millions of records in real time using Blockchain technology, has filed a patent application for a system that allowed the validation of documents in Blockchain, a feature that could be integral to the future operations of the services of the platform for governments, companies and non-profit organizations.

The second proposal of the company, published today by the United States Patent and Trademark Office (USPTO), on August 23, has a more stealthy objective:

"Confidential and secret data can be shared through one or more block chains. Mortgage applications, medical records, financial records and other electronic documents often contain social security numbers, names, addresses, account information and other personal information. A secret exchange algorithm is applied to any secret information to generate shared resources. The shares can be integrated or written in one or more Blockchains for distribution. "

The system is designed to protect confidential financial and personal information protected with a hash algorithm that divides sensitive information into different shared resources and then distributes shared resources in different blocks for greater security.

The information is essentially encrypted and then stored in separate blockchain data vaults, a design that could be very secure if it is well implemented.

The security of the data is usually among the main cases of use of blockchain technology. In a world where millions of people can be simultaneously hacked from a common database with a single point of attack, Blockchain networks offer greater security.

Projections

When this information was released, various media began to express their opinion about it, being the most common issue the fact that you can hide your financial records and nobody will be able to realize, implying that money laundering would have fewer complications.

The other topic discussed was the approval of the patent, explaining that there are two possible scenarios: the simplest one that denies the plan and; modifications to the patent to break total invisibility.