Capital One Offers Content Validation Via Patented Blockchain Based System
Capital One, US bank holding corporation, has received a blockchain related patent for implementing the technology in a system that validates content. It can be remembered that last year the firm had been concentrating on patents related to user authentication based on blockchain.
Capital One has now widened the scope of implementation by applying blockchain to content providers.
An excerpt from the patent’s summary says
“A device may receive first content data from a content provider, the first content data including data identifying content.”
The summary further says:
“The device may generate second content data based on the first content data, the second content data including information that causes content validation to be performed on the content. The device may also provide the second content data to a content validation node, the content validation node being included in a content validation network implementing a blockchain network that includes executable instructions for performing content validation.”
Capital One has been exhibiting interest in blockchain for the past few years. Back in 2016, the firm was trying to implement the technology to resolve issues related to payment.
In 2018, Gill Haus, Capital One’s senior vice president, retail and direct bank chief information officer, highlighted the overall optimism about the budding technology.
Gill Haus said “The benefit that we see with blockchain is that security is inherently built in.”
Regarding contribution to blockchain, Haus said
“You know who is contributing to that blockchain, you have an immutable record, and you can make sure that the system and the protocol assemble easily.”
Despite calling it hype, the banking industry has started embracing the technology this year.