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Cryptocurrencies

Sony taps blockchain tech to build Multi-Factor Authentication system

Tuesday 31 October 2017 | 10:46 AM CET

Sony has filed with the US Patent and Trademark Office (USPTO) a patent application for a blockchain-based multi-factor authentication system (MFA).

MFA systems are security systems that require more than one method of authentication. The systems work by providing users with two different credentials to log into a website or program. The concept behind these systems is that while a hacker might be able to steal a user’s password, they won’t be able to gain access to the token because it will generate a different code for every login.

The Japanese electronics manufacturer aims to use two different blockchain platforms in conjunction with each other in the proposed user login system. The first would create the authentication codes that will be used by a user to gain access to a website or program after they enter their standard username and password. The second platform is responsible for receiving the codes to confirm a user’s identity when they try to conduct a transaction through the platform. The possible transactions that can be conducted include data transfer, contract generation, and asset transfer.

Moreover, Sony announced that it plans to explore other possible applications of blockchain in different fields, including supply chain and logistics, data management, as well as other areas in which the proposed intellectual property could be applied.

More: Link
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