NChain Licensing AG (20240214180). SYSTEMS AND METHODS FOR STORAGE, GENERATION AND VERIFICATION OF TOKENS USED TO CONTROL ACCESS TO A RESOURCE simplified abstract

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SYSTEMS AND METHODS FOR STORAGE, GENERATION AND VERIFICATION OF TOKENS USED TO CONTROL ACCESS TO A RESOURCE

Organization Name

nChain Licensing AG

Inventor(s)

Craig Steven Wright of London (GB)

SYSTEMS AND METHODS FOR STORAGE, GENERATION AND VERIFICATION OF TOKENS USED TO CONTROL ACCESS TO A RESOURCE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240214180 titled 'SYSTEMS AND METHODS FOR STORAGE, GENERATION AND VERIFICATION OF TOKENS USED TO CONTROL ACCESS TO A RESOURCE

The abstract of the patent application describes a computer-implemented access method that involves providing a verification data item of a one-way function chain of data items, submitting an access blockchain transaction to a blockchain (such as the bitcoin blockchain), applying the one-way function to the data item to generate an output, comparing the output to the verification item to determine an outcome, and allocating the output as a further verification data item for verifying another data item of the chain and granting access to a resource associated with the data item based on the outcome.

  • Simplified Explanation:

- A method for accessing resources using blockchain technology by verifying data items through a one-way function chain.

  • Key Features and Innovation:

- Utilizes blockchain technology for secure access verification. - Implements a one-way function chain for data verification. - Grants access to resources based on the verification outcome.

  • Potential Applications:

- Secure access control systems. - Data verification processes. - Resource allocation based on verified data.

  • Problems Solved:

- Ensures secure access to resources. - Provides a reliable method for data verification. - Streamlines the process of granting access based on verified data.

  • Benefits:

- Enhanced security for resource access. - Efficient data verification process. - Simplified resource allocation based on verified data.

  • Commercial Applications:

- Secure access control systems for businesses. - Data verification services for various industries. - Resource management platforms utilizing blockchain technology.

  • Prior Art:

- Prior research on blockchain-based access control systems. - Studies on data verification methods using one-way functions.

  • Frequently Updated Research:

- Ongoing developments in blockchain technology for access control. - Research on enhancing data verification processes using one-way functions.

Questions about the technology: 1. How does the one-way function chain enhance data verification in this method? 2. What are the potential implications of using blockchain technology for access control systems?


Original Abstract Submitted

a computer-implemented access method is provided. the method comprises the steps of: (i) providing a verification data item of a one-way function chain of data items; (ii) submitting, to a blockchain (such as the bitcoin blockchain), an access blockchain transaction comprising a data item of the chain; (iii) applying the one-way function to the data item to provide an output; (iv) comparing the output of step (iii) to the verification item to provide an outcome; and (v) based on the outcome of step (iv): (a) allocating the output as a further verification data item for verifying a further data item of the chain; and (b) granting access to a resource associated with the data item.

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