Coinbase, Inc. (20240346481). IDENTITY ATTESTATION USING A TOKEN simplified abstract

IDENTITY ATTESTATION USING A TOKEN

Organization Name

Coinbase, Inc.

Inventor(s)

Siyu Liu of Palo Alto CA (US)

Anika Raghuvanshi of Beaverton OR (US)

Linwei Chen of New York City NY (US)

Paul Richard Gauvreau, Jr. of San Francisco CA (US)

Alex Reeve of San Francisco CA (US)

Shenghu Yang of Mountain View CA (US)

Pinhua Chen of San Jose CA (US)

Akash Gaurav Shah of Millbrae CA (US)

IDENTITY ATTESTATION USING A TOKEN - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240346481 titled 'IDENTITY ATTESTATION USING A TOKEN

The abstract describes methods, systems, and devices for data management using a self-executing program of a blockchain network. This program can mint an identity attestation token for a user, store identity information off-chain, and transfer the token to the user's wallet address upon request.

• The self-executing program of a blockchain network receives a request from a client application to mint an identity attestation token for a user.
• The program generates the token based on stored identity information and transfers it to the user's wallet address.
• It can also respond to requests for the user's identity information by sending a message with details from the off-chain data source.

Potential Applications: - Identity verification processes - Secure data management systems - Blockchain-based authentication services

Problems Solved: - Ensuring secure and verifiable identity attestation - Efficient data transfer and storage mechanisms - Enhancing user privacy and control over personal information

Benefits: - Increased security and trust in identity verification processes - Streamlined data management and authentication procedures - Improved user experience and privacy protection

Commercial Applications: Title: Blockchain Identity Verification Solutions for Enhanced Security This technology can be utilized by financial institutions, healthcare providers, and online platforms to verify user identities securely and efficiently. It can also be integrated into identity management systems for various industries to enhance data security and user trust.

Prior Art: Researchers can explore prior art related to blockchain-based identity verification systems, self-executing programs, and off-chain data storage mechanisms to understand the evolution of this technology and identify potential areas for improvement.

Frequently Updated Research: Researchers and developers may find updated studies on blockchain data management, identity verification technologies, and decentralized systems relevant to this innovation. Stay informed about the latest advancements in blockchain technology and data security to enhance the effectiveness of this solution.

Questions about Blockchain Identity Verification: 1. How does blockchain technology ensure the security and integrity of identity attestation tokens? Blockchain technology uses cryptographic algorithms and decentralized consensus mechanisms to secure identity information and transactions, making it difficult for unauthorized parties to tamper with or access sensitive data.

2. What are the potential challenges or limitations of using off-chain data sources for storing identity information in blockchain networks? Storing identity information off-chain may raise concerns about data privacy, security, and accessibility. It is essential to implement robust encryption protocols and access controls to protect sensitive data stored in off-chain sources.

Original Abstract Submitted

methods, systems, and devices for data management are described. a self-executing program of a blockchain network (e.g., blockchain distributed data store) may receive, from a client application, a first request to mint an identity attestation token for a user. the first request may include an indication of a wallet address for the user. the self-executing program may generate the identity attestation token that is indicative of first identity information, for the user, that is stored in an off-chain data source and broadcast a message that is configured to transfer the identity attestation token to the wallet address for the user. the self-executing program may receive, from a second application, a request for the first identity information for the user and send, to the second client application after receiving the request, a second message that includes information indicative of the off-chain data source.