View source for 20240031167. SYSTEMS AND METHODS FOR MAINTAINING DECENTRALIZED DIGITAL IDENTITIES simplified abstract (JPMORGAN CHASE BANK, N.A.)

=SYSTEMS AND METHODS FOR MAINTAINING DECENTRALIZED DIGITAL IDENTITIES=


==Organization Name==

[[:Category:JPMORGAN CHASE BANK, N.A.|JPMORGAN CHASE BANK, N.A.]]


[[Category:JPMORGAN CHASE BANK, N.A.]]

==Inventor(s)==

[[:Category:Tyrone Lobban of Loughton (GB)|Tyrone Lobban of Loughton (GB)]][[Category:Tyrone Lobban of Loughton (GB)]]

[[:Category:Christine Moy of New York NY (US)|Christine Moy of New York NY (US)]][[Category:Christine Moy of New York NY (US)]]

[[:Category:Kanishk Mahajan of San Francisco CA (US)|Kanishk Mahajan of San Francisco CA (US)]][[Category:Kanishk Mahajan of San Francisco CA (US)]]

[[:Category:Martin Kocen of Bratislava (SK)|Martin Kocen of Bratislava (SK)]][[Category:Martin Kocen of Bratislava (SK)]]

[[:Category:Jaroslav Saxa of Bratislava (SK)|Jaroslav Saxa of Bratislava (SK)]][[Category:Jaroslav Saxa of Bratislava (SK)]]

[[:Category:Oliver Margolis of London (GB)|Oliver Margolis of London (GB)]][[Category:Oliver Margolis of London (GB)]]

[[:Category:Rob Perez of Bellflower CA (US)|Rob Perez of Bellflower CA (US)]][[Category:Rob Perez of Bellflower CA (US)]]

[[:Category:Bruce Horner of New York NY (US)|Bruce Horner of New York NY (US)]][[Category:Bruce Horner of New York NY (US)]]

[[:Category:Christine Leong of New York NY (US)|Christine Leong of New York NY (US)]][[Category:Christine Leong of New York NY (US)]]

==SYSTEMS AND METHODS FOR MAINTAINING DECENTRALIZED DIGITAL IDENTITIES - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240031167 titled 'SYSTEMS AND METHODS FOR MAINTAINING DECENTRALIZED DIGITAL IDENTITIES

==Simplified Explanation==

The patent application describes systems and methods for maintaining decentralized digital identities. It specifically focuses on decentralized digital identity attestation verification within a distributed ledger network. The method includes the following steps:

* Receiving an attestation verification request from a relying party for a user.
* Retrieving the decentralized identifier for the user.
* Retrieving the decentralized identifier for the attestation issuer.
* Validating the user decentralized identifier and the attestation issuer decentralized identifier.
* Verifying that the attestation has not been revoked.
* Communicating the validity of the attestation to the relying party.

Potential applications of this technology:

* Identity verification: The decentralized digital identity system can be used to verify the identity of individuals or entities in various applications such as online transactions, access control, and authentication processes.
* Financial services: The technology can be applied in the financial sector for Know Your Customer (KYC) processes, anti-money laundering (AML) compliance, and fraud prevention.
* Healthcare: Decentralized digital identities can be used to securely store and share medical records, ensuring privacy and data integrity.
* Supply chain management: The technology can be utilized to track and verify the authenticity of products throughout the supply chain, reducing counterfeiting and ensuring product quality.

Problems solved by this technology:

* Centralized identity systems: The decentralized digital identity system eliminates the need for centralized authorities to verify and validate identities, reducing the risk of data breaches and identity theft.
* Identity fraud: By validating decentralized identifiers and verifying the authenticity of attestations, the technology helps prevent identity fraud and ensures the trustworthiness of digital identities.
* Lack of interoperability: The use of decentralized identifiers and distributed ledger networks enables interoperability between different systems and platforms, facilitating seamless identity verification across various applications.

Benefits of this technology:

* Enhanced privacy and security: Decentralized digital identities provide individuals with greater control over their personal information, reducing the risk of data breaches and unauthorized access.
* Trust and transparency: The use of distributed ledger networks ensures transparency and immutability of identity attestations, enhancing trust between parties.
* Efficiency and cost savings: The decentralized nature of the system eliminates the need for intermediaries and reduces administrative overhead, resulting in cost savings and streamlined processes.


==Original Abstract Submitted==

systems and methods for maintaining decentralized digital identities are disclosed. in an information processing apparatus for a relying party within a distributed ledger network and comprising at least one computer processor, a method for decentralized digital identity attestation verification may include: (1) receiving, from a relying party, an attestation verification request for a user; (2) retrieving a user decentralized identifier for the user; (3) retrieving an attestation issuer decentralized identifier for an attestation issuer; (4) validating the user decentralized identifier and the attestation issuer decentralized identifier; (5) verifying that the attestation has not been revoked; and (6) communicating that the attestation is valid to the relying party.



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