METHOD AND SYSTEMS FOR EXCHANGING CONFIDENTIAL INFORMATION ACROSS A BLOCKCHAIN
Patent Information
- Application Number
- DE602021023618
- Authority / Receiving Office
- DE · DE
- Patent Type
- Patents
- Current Assignee / Owner
- Priority Date
- 2020-10-30
- Filing Date
- 2021-08-30
- Publication Date
- 2024-12-18
- Estimated Expiration
- Not applicable · inactive patent
AI Technical Summary
Traditional confirmation processes are inefficient, error-prone, and vulnerable to fraud due to manual handling and reliance on central brokers, which can expose confidential information and lead to delays and data privacy risks.
A system utilizing blockchain technology and smart contracts to securely verify information by generating request transactions, encrypting them, and using hash values to confirm data without exposing the actual information, thereby eliminating the need for central brokers and enhancing security and efficiency.
The system provides a secure, efficient, and fraud-resistant method for verifying confidential information by using blockchain and smart contracts to automate the confirmation process, ensuring data privacy and reducing the risk of errors and fraud.