View source for The Toronto-Dominion Bank (20240232858). AUTHENTICATION USING NON-FUNGIBLE TOKEN AS PROOF OF ACCOUNT OWNERSHIP simplified abstract

=AUTHENTICATION USING NON-FUNGIBLE TOKEN AS PROOF OF ACCOUNT OWNERSHIP=


==Organization Name==

[[:Category:The Toronto-Dominion Bank|The Toronto-Dominion Bank]]


[[Category:The Toronto-Dominion Bank]]

==Inventor(s)==

[[:Category:David Samuel Tax of Toronto (CA)|David Samuel Tax of Toronto (CA)]][[Category:David Samuel Tax of Toronto (CA)]]

[[:Category:Milos Dunjic of Oakville (CA)|Milos Dunjic of Oakville (CA)]][[Category:Milos Dunjic of Oakville (CA)]]

[[:Category:Anthony Haituyen Nguyen of Toronto (CA)|Anthony Haituyen Nguyen of Toronto (CA)]][[Category:Anthony Haituyen Nguyen of Toronto (CA)]]

[[:Category:Dean Constantin Nicholas Tseretopoulos of Toronto (CA)|Dean Constantin Nicholas Tseretopoulos of Toronto (CA)]][[Category:Dean Constantin Nicholas Tseretopoulos of Toronto (CA)]]

[[:Category:Edwin Van Damme of Etobicoke (CA)|Edwin Van Damme of Etobicoke (CA)]][[Category:Edwin Van Damme of Etobicoke (CA)]]

==AUTHENTICATION USING NON-FUNGIBLE TOKEN AS PROOF OF ACCOUNT OWNERSHIP - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240232858 titled 'AUTHENTICATION USING NON-FUNGIBLE TOKEN AS PROOF OF ACCOUNT OWNERSHIP

The abstract of the patent application describes a processor-implemented method for authenticating a device using non-fungible tokens (NFTs) and blockchain technology.

*Simplified Explanation: 
The method involves verifying the identity of a device by associating it with a unique identifier, NFT identifier, public key, and blockchain address.

*Key Features and Innovation:
- Authentication process using NFTs and blockchain technology
- Secure verification of device identity through public and private key association
- Enables new operations after successful authentication

*Potential Applications:
- Secure access control systems
- Digital asset management platforms
- Identity verification services

*Problems Solved:
- Ensures secure authentication of devices
- Prevents unauthorized access to sensitive information
- Enhances trust and security in digital transactions

*Benefits:
- Improved security and privacy protection
- Streamlined authentication process
- Enhanced trust in digital interactions

*Commercial Applications:
"Blockchain-Based Device Authentication System for Secure Access Control in IoT Networks"

*Questions about the Technology:
1. How does the use of NFTs enhance the security of device authentication?
2. What are the potential implications of this technology for digital asset management systems?

*Frequently Updated Research:
Stay updated on advancements in blockchain technology and device authentication protocols for potential improvements in security and efficiency.


==Original Abstract Submitted==

in an aspect, a processor-implemented method is disclosed. the method may be performed by a server. a method may include: receiving an authentication request from a device, the authentication request including a unique identifier; authenticating the authentication request by: retrieving a non-fungible token (nft) identifier and public key associated with the unique identifier; identifying, from a blockchain, a blockchain address that is an owner of an nft represented by the nft identifier; verifying that the blockchain address that is the owner of the nft is associated with the public key that is associated with the unique identifier; and verifying that a private key stored in a secure area of the device is associated with the public key that is associated with the unique identifier; and after authenticating the authentication request, enabling an operation not available prior to authenticating the authentication request.



[[Category:G06Q20/36]]
[[Category:G06Q20/20]]
[[Category:G06Q20/34]]
[[Category:G06Q20/38]]
[[Category:G06Q20/40]]
[[Category:CPC_G06Q20/3672]]