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Author Topic: [2017-10-30] Sony Files Patent for Blockchain-based Multi-Factor Authentication  (Read 1204 times)
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October 30, 2017, 08:45:02 PM
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Japanese technology major Sony has filed a patent application for a Blockchain-based multi-factor authentication system (MFA). Based on the application, the electronics manufacturer could use two different Blockchain platforms in conjunction with each other in the proposed user login system.

Based on the patent application document published by the US Patent and Trademark Office (USPTO) on Oct. 26, 2017, one of the proposed Blockchain platforms would create the authentication codes that will be used by a user to gain access to a website or program after they enter their standard username and password.

The other Blockchain platform is responsible for receiving the codes to confirm a user’s identity when they try to conduct a transaction through the platform. The possible transactions that can be conducted include data transfer, contract generation, and asset transfer.

How MFA systems work

MFA systems are security systems that require more than one method of authentication. The systems work by providing users with two different credentials to log into a website or program. The concept behind the proposed systems is that while a hacker might be able to steal a user’s password, they won’t be able to gain access to the token because it will generate a different code for every login.

Other Blockchain-based projects of Sony

The MFA system is just one of the Blockchain-based projects advanced by the technology giant. The company is also developing an educational platform based on Blockchain in partnership with IBM. The platform, which will be used to store student records, is scheduled to be launched in 2018.

Sony also announced that it plans to explore other possible applications of Blockchain in different fields, including supply chain and logistics, data management, as well as other areas in which the proposed intellectual property could be applied.

Source: https://www.cointelegraph.com/news/sony-files-patent-for-blockchain-based-multi-factor-authentication-system

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