18237773. Decentralized Identity Methods and Systems simplified abstract (STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY)
Contents
- 1 Decentralized Identity Methods and Systems
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 Decentralized Identity Methods and Systems - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Original Abstract Submitted
Decentralized Identity Methods and Systems
Organization Name
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
Inventor(s)
Veena Vivek of Chandler AZ (US)
EllaKate Lefebre of Mesa AZ (US)
Stephen Dunstan of Tempe AZ (US)
Decentralized Identity Methods and Systems - A simplified explanation of the abstract
This abstract first appeared for US patent application 18237773 titled 'Decentralized Identity Methods and Systems
Simplified Explanation
The present techniques involve cryptographically-verifiable insurance credentials and property transfer, improving user experience by decentralizing identity control.
- Decentralized identity control: Moving control over identity from centralized entities to individual organizations and users.
- Method: Obtaining a scanned image, processing it, transmitting a claim request, receiving and storing an attestation response.
- System: Includes a processor and memory with computer-executable instructions to receive a claim request, cryptographically verify the claim, and transmit an attestation response.
Potential Applications
This technology could be applied in various industries such as insurance, real estate, and finance for secure verification and transfer processes.
Problems Solved
This technology addresses the issue of centralized control over identity, providing a more secure and user-centric approach to managing credentials and property transfers.
Benefits
The benefits of this technology include enhanced security, improved user experience, and increased trust in digital transactions.
Potential Commercial Applications
The potential commercial applications of this technology include insurance verification systems, real estate transaction platforms, and financial services for secure and efficient processes.
Possible Prior Art
One possible prior art could be blockchain technology, which also focuses on decentralized and secure transactions. However, this technology specifically targets identity verification and property transfer processes.
Unanswered Questions
How does this technology handle data privacy concerns?
This article does not address how the technology ensures data privacy and compliance with regulations such as GDPR.
What are the potential limitations of this technology in terms of scalability?
The article does not discuss the scalability of the technology and how it may handle a large volume of transactions in real-time.
Original Abstract Submitted
The present techniques relate to, inter alia, cryptographically-verifiable insurance credentials and cryptographically-verifiable property transfer. The novel methods and systems of decentralized identity discussed herein improve user experience (whether individual or organizational) by moving control over identity from the hands of centralized entities, back to where it belongs—i.e., to the hands of individual organizations and users. In one aspect, a method includes obtaining a scanned image; processing the scanned image; transmitting a claim request; and receiving and storing an attestation response, and a computing system includes a processor; and a memory having stored thereon computer-executable instructions that, when executed by the one or more processors, cause the computing system to: receive a claim request; cryptographically verify the claim; and transmit an attestation response.
