Telefónica Innovacion Digital S.L. (20240273170). ON-CHAIN PUSH-MODE MULTI-FACTOR AUTHENTICATION METHOD AND SYSTEM FOR BLOCKCHAIN SERVICES simplified abstract

ON-CHAIN PUSH-MODE MULTI-FACTOR AUTHENTICATION METHOD AND SYSTEM FOR BLOCKCHAIN SERVICES

Organization Name

Telefónica Innovacion Digital S.L.

Inventor(s)

Xiaoyuan Yang of Madrid (ES)

Lucia Munoz Martines of Madrid (ES)

David De La Calle Galindo of Madrid (ES)

Javier Espinosa Garcia of Madrid (ES)

Luis Angel Garcia Munoz of Madrid (ES)

Yaiza Rubio Vinuela of Madrid (ES)

Saray Arranz Cancho of Madrid (ES)

ON-CHAIN PUSH-MODE MULTI-FACTOR AUTHENTICATION METHOD AND SYSTEM FOR BLOCKCHAIN SERVICES - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240273170 titled 'ON-CHAIN PUSH-MODE MULTI-FACTOR AUTHENTICATION METHOD AND SYSTEM FOR BLOCKCHAIN SERVICES

The abstract describes a method and system for multi-factor authentication for blockchain services.

• The method involves holding an end-user's account on a server, associating the account with a client address through a pairing process, and establishing an approval status for a multi-factor service.
• The end-user uses a software application to set the approval status, which triggers a call to a smart contract on the blockchain to modify the approval status.
• The provider then updates the approval status on the blockchain and notifies the end-user through the server.
• A smart contract developer can retrieve the approval status from the provider.

Potential Applications: - Secure authentication for blockchain services - Enhanced security for sensitive transactions - Compliance with regulatory requirements for multi-factor authentication

Problems Solved: - Mitigating the risk of unauthorized access to blockchain services - Strengthening security measures for user accounts - Ensuring compliance with industry standards for authentication

Benefits: - Improved security for blockchain transactions - Enhanced user trust in the platform - Streamlined process for multi-factor authentication

Commercial Applications: Title: "Enhanced Multi-Factor Authentication for Blockchain Services" This technology can be utilized by blockchain platforms, financial institutions, and other organizations that require secure authentication for their services. It can help prevent unauthorized access and protect sensitive information, leading to increased user confidence and trust in the platform.

Questions about Multi-Factor Authentication for Blockchain Services: 1. How does this method improve security for blockchain services? - This method enhances security by implementing multi-factor authentication, which requires multiple forms of verification for user access, reducing the risk of unauthorized entry. 2. What are the potential implications of this technology for the blockchain industry? - This technology could set a new standard for secure authentication in the blockchain industry, leading to increased trust and adoption of blockchain services.

Original Abstract Submitted

a method and a system for multi-factor authentication for blockchain services are proposed. the method comprises holding, by a server, an account of an end-user, the account being identifiable via an accountid; associating the accountid with a clientaddr by executing a pairing process; establishing, by the end-user, using a software application, an approval status for a multi-factor service in the server; in response to said established approval status, calling, by the server, a changestatus function of a multi-factor provider smart contract operating in at least one blockchain, the changestatus function including the established multi-factor approval status, the clientaddr, and a certificate termed owneraddr; modifying, by the provider, the established approval status in the blockchain; delivering, by the provider, a notification to the end-user via the server when the established approval status is modified in the blockchain; and retrieving, by a smart contract developer the established approval status from the provider.