20240020355. NON-FUNGIBLE TOKEN AUTHENTICATION simplified abstract (TOKENFORM LLC)

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NON-FUNGIBLE TOKEN AUTHENTICATION

Organization Name

TOKENFORM LLC

Inventor(s)

Jeffrey Binder of Denver CO (US)

Charles Hasek of Denver CO (US)

Lindsay Gardner of West Hollywood CA (US)

NON-FUNGIBLE TOKEN AUTHENTICATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240020355 titled 'NON-FUNGIBLE TOKEN AUTHENTICATION

Simplified Explanation

Abstract: This patent application describes a system that uses non-fungible tokens (NFTs) for authentication. An NFT and a smart contract are generated and stored on a blockchain to delegate authority from a delegator to a delegate. The delegate can then use the NFT to authenticate themselves and act on the delegated authority. The delegator has control over the NFT, allowing them to transfer, revoke, mark as expired, or otherwise control the delegated authority.

  • The system uses non-fungible tokens (NFTs) for authentication.
  • An NFT and a smart contract are generated and stored on a blockchain.
  • The NFT is provided to a delegate for authentication and acting on delegated authority.
  • The delegator can control the NFT by transferring, revoking, marking as expired, or otherwise controlling the delegated authority.

Potential Applications:

  • Authentication and authorization systems for various online platforms and services.
  • Delegating authority in decentralized organizations or governance systems.
  • Secure access control systems for physical locations or digital assets.

Problems Solved:

  • Ensuring secure authentication and authorization in digital systems.
  • Enabling delegation of authority while maintaining control and accountability.
  • Simplifying the management of delegated authority through blockchain technology.

Benefits:

  • Enhanced security through the use of NFTs for authentication.
  • Increased flexibility in delegating authority and managing permissions.
  • Improved transparency and accountability in delegated decision-making processes.


Original Abstract Submitted

a system uses one or more non-fungible tokens (nfts) for authentication. an nft and an associated smart contract may be generated and stored on a blockchain for authority that is to be delegated to a delegate on behalf of a delegator. the nft may then be provided to the delegate, who may use the nft to authenticate himself in order to act on the delegated authority. subsequently, the nft may be transferred, revoked, marked expired, and/or otherwise controlled by the delegator in order to control the authority delegated to the delegate.

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