According to a recent report, U.S based bank holding corporation, Capital One has won a blockchain-related patent for content validation.
Going by a document sourced from the United States the U.S. Patent and Trademark Office, Capital One, which has been shifting its attention towards blockchain technology since last year, is now looking to use DLT as part of a wider network which involves content provider. The firms have previously recorded success when it comes to using blockchain for user authentication. So, it focusing on using DLT for content validation is in line with its previous DLT use cases.
According to the patent’s summary, “A device may receive first content data from a content provider, the first content data including data identifying content,”
The summary further explained how blockchain technology will be used by the firm to validate contents.
The summary reads further:
“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.”
The company has been involving itself in blockchain technology even before the technology gained the massive following it has so far gathered. In 2016, the company was reportedly researching on how DLT can be applied in solving payment issues, linked to health insurance.
In 2018, Gill Haus, Capital One’s senior vice president, retail and direct bank chief information officer, made some comments addressing the firms crypto market bullish sentiment.
He commented that: “The benefit that we see with blockchain is that security is inherently built in, ” “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.” he continued.
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