Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
A Chinese multinational PC company, Lenovo, filed a patent application with the US for a Blockchain-based validation system for proving the integrity of physical documents.
Chinese multinational PC company Lenovo has filed a patent with the U.S. Patent and Trademark Office (USPTO) for a system to âverify integrity of physical documents,â using a "security Blockchain.â
The patent application was submitted in August 2016, but was published late last week on Feb. 15.
The use of digital signatures encoded into documents, as opposed to physical signatures printed with physical ink, provides assurance that the document was not modified after the signing.
The patentâs âBrief Summaryâ explains that a processor will identify an âintegrity symbolâ within the document, convert it into an âintegrity map,â and then compare the map to the physical document to ensure the documentâs integrity.
The security Blockchain, Lenovo writes, would allow one to ensure âthat they have the current authentic physical document even if multiple paper copies exist and multiple people have made entries in the chain of modification.â If multiple, fake copies of a physical document came into existence, they would âshow up as orphaned blocks in the chain.â
In December 2017, Swiss banking giant UBS filed a similar patent with USPTO for a Blockchain-based system for client IP and user validation.
Although Chinese firm Lenovoâs patent application wasnât submitted recently, its online release comes as China is in the midst of a general crackdown on all things crypto within the country. China banned all foreign cryptocurrency exchanges in early February, following a September 2017 ban of Initial Coin Offerings (ICO).
However, even with the crypto bans in place, Chinese companies have not stopped looking into the crypto sphere. On Feb. 7, Chinese-based payment service provider LianLian partnered with RippleNet to facilitate faster and less expensive cross-border payments in Europe, the US, and China.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.