17937964. AUTHORIZED USERS AND EXPERIENCES AUTHENTICATED/MANAGED BY NON-FUNGIBLE TOKEN (NFT) OWNERSHIP simplified abstract (Capital One Services, LLC)

AUTHORIZED USERS AND EXPERIENCES AUTHENTICATED/MANAGED BY NON-FUNGIBLE TOKEN (NFT) OWNERSHIP

Organization Name

Capital One Services, LLC

Inventor(s)

Imren Johar of Clifton VA (US)

Dennis Sean Brennan of Pleasanton CA (US)

Kevin Osborn of Newton Highlands MA (US)

AUTHORIZED USERS AND EXPERIENCES AUTHENTICATED/MANAGED BY NON-FUNGIBLE TOKEN (NFT) OWNERSHIP - A simplified explanation of the abstract

This abstract first appeared for US patent application 17937964 titled 'AUTHORIZED USERS AND EXPERIENCES AUTHENTICATED/MANAGED BY NON-FUNGIBLE TOKEN (NFT) OWNERSHIP

Simplified Explanation

The patent application describes a method and system for authorizing limited user access to resources of other users using NFTs. The system utilizes blockchain technology to securely grant access to resources based on encrypted payloads and access tokens.

• The system receives a request to perform an action using a resource associated with a first user.
• An encrypted payload is obtained from a blockchain node.
• A command is transmitted to decrypt the encrypted payload on a second device.
• The system receives the access token and access parameters from the second device.
• If the metadata of the request matches the access parameters of the access token, the system transmits a request to perform the action.

Potential Applications

This technology could be applied in secure data sharing platforms, digital asset management systems, and decentralized applications requiring permissioned access to resources.

Problems Solved

This technology solves the problem of securely authorizing limited user access to resources without the need for centralized authorization servers. It also ensures that only authorized users can access specific resources.

Benefits

The benefits of this technology include enhanced security, decentralized access control, and improved user privacy. It also provides a more efficient and transparent way to manage resource access permissions.

Potential Commercial Applications

• Secure data sharing platforms for enterprises
• Digital rights management systems for content creators
• Decentralized finance applications for managing access to financial assets

Possible Prior Art

One possible prior art for this technology could be the use of smart contracts in blockchain systems to manage access control and permissions for digital assets.

How does the system handle revoked access permissions?

The patent application does not specify how the system manages revoked access permissions and whether there is a mechanism in place to update access tokens accordingly.

What encryption algorithms are used to secure the access tokens?

The patent application does not detail the specific encryption algorithms or cryptographic techniques employed to secure the access tokens and encrypted payloads.

Original Abstract Submitted

Methods and systems are described herein for authorizing limited user access to resources of other users using NFTs. A resource access system may be used to authorize access. The system may receive a first request for performing an action using a resource associated with a first user, and in response to the first request, obtain an encrypted payload from a blockchain node of a blockchain. The system may transmit a command to the second device to decrypt the encrypted payload using the second cryptography-based storage application and receive the access token and the one or more access parameters from the second device. In response to determining that metadata of the first request matches the one or more access parameters of the access token, the system may transmit a request to perform the action.