factom blockchain

Factom (FCT) has filed a new patent nowadays with the U.S. Patent & Trademark Workplace that lets verification of files on a blockchain with multiple digital signatures

The patent will come during a frenzy of blockchain patent applications from other incumbents, like IBM, Mastercard, and Walmart.

Auditing Electronic Paperwork with Multi-Signatures

The patent claims the concept:

“Authentication of digital document is based mostly on multiple digital signatures integrated into a blockchain. Structured data, metadata, and guidelines may perhaps be hashed to generate the multiple digital signatures for distribution by using the blockchain. Any peer obtaining the blockchain may perhaps then verify an authenticity of an digital document based mostly on any a person or far more of the multiple digital signatures integrated into the blockchain.”

As a person of the top blockchain jobs in data integrity and compliance, Factom is developing on their platform’s offerings for governments, organizations, and non-profits.

Factom blockchain

The patent describes a procedure for friends to verify digital files with several styles of digital signatures. Also, multiple signatures of diverse styles (e.g. metadata or guidelines) can be applied on a one document. The robustness of the signature verification builds on the Factom’s aim of reducing data tampering in business settings.

As described in the patent, the concept allows make sure that a document has retained its integrity by means of its complete lifetime-cycle. This is vital as files are transferred across the online among the stakeholders.

The new patent is in tune with Factom’s mission statement:

“People and institutions nowadays remedy challenging difficulties by means of the utilization of Factom’s Blockchain. We see a future world wherever fraud, corruption, and forgery are a detail of the earlier. We consider in maintaining personal data personal and securing the world’s prosperity because privateness and possession of house are fundamental human rights.”

Factom’s Record

Factom confronted wrestle with garnering partnerships and purchasers during its early phases. Having said that, considering that 2014, it has found a foothold in its market. As CCN described, Factom observed a big increase when Microsoft announced that it would be integrated into its Azure cloud platform. Factom also partnered with the Chinese government to develop a “smart city” wherever Factom’s technology would be applied to audit metropolis infrastructure.

Attaining purchasers who will need more affordable auditing techniques for infrastructure, information, and files has been a continual aim for Factom. They deliver diverse items to obtain this aim.

As Factom’s patent exhibits, blockchain technology carries on to get desire from significant players in finance, retail, and governments. This period is a race for them to get as lots of patents as achievable in the march to adoption.

Photographs from Shutterstock

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