Capital One Secures Patent for Blockchain-Backed Content Validator

Based out of the United States, the bank holding company and credit card provider, Capital One has announced that it has managed to secure its new blockchain related patent, with the submission proposing the incorporation of blockchain technology to support a new kind of content validation system.

This news was made public thanks to documents from the United Stats Patent and Trademark Office, which since made these patents publically available for viewing as of April 2nd.

The America based company, Capital One, having previously placed a great deal of its focus on the protection of intellectual property and content, especially in which blockchain can prove useful for user authentication and validation. It has since turned its focus to making use of blockchain as an essential piece of a broader framework directly involving content providers of all sizes.

“A device may receive first content data from a content provider, the first content data including data identifying content,” an excerpt from the Capital One patent summary specifies. The summary goes on to state the following.

“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 patent goes on in further detail.

“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.”

Blockchain technology has been a type of innovation that Capital One has been interested in for a span of several years. Back in 2016, for example, the company had been delving into ways in which blockchain could be applied in order to resolve existing issues with payments solutions, especially where it was linked to the world of health insurance payments

Even during the course of last year, when the cryptocurrency market was undergoing its most bitter period of reversal. The senior Vice President for Capital One, as well as its retail and direct bank Chief Information Officer, Gill Haus, explained that, for the company, the mood was one of bullish enthusiasm.

“The benefit that we see with blockchain is that security is inherently built in,” he said. Haus continued:

“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.”

Blockchain technology, in spite of undergoing some shorter living setbacks over 2018, has made a spectacular kind of comeback for the world of finance and banking. This is in spite of previously cited concerns of it being an overhyped kind of technology.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

James Fox
James Fox
Cutting his teeth in the world of startups and Fintech, James went on to gain a profound interest in Cryptocurrencies and blockchain, investing in Bitcoin, Ethereum and LiteCoin, but never letting it weigh on being objective. Now working full time as an editor for a blockchain gaming site, James still lends his writing abilities and contacts out on a freelance basis, thanks to his marketing experience with other projects.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,438FansLike
2,795FollowersFollow
4,190FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

JP Morgan Chase Set to Pay $2.5 Million in Crypto Class-Action Lawsuit for Overcharging

The largest bank in the United States, JP Morgan Chase has agreed to pay $2.5 million to settle a class-action lawsuit related to charging...

60% of Bitcoin Supply Not Moved in a Year, What Does it Say About the Next Bull Run?

May is coming to an end and bitcoin is looking to stay above $9,500, ending the month with about 8% returns. The market sentiments are...

E-Commerce Giant, Amazon, Patents Blockchain Authentication Of Accepted Consumer Products

The world-leading e-commerce platform, Amazon Technologies Inc., filed a patent on blockchain technology for proving the authenticity of consumer goods in its online marketplace....

Compound Roadmap to Full Decentralization to Begin with Issuance of COMP to Their Community

Compound will now issue COMP tokens to the users of their protocol in a bid to achieve full decentralization. They have released an...

Crypto Payment Processor BitPay Sees More Use in Stablecoins than Layer-2 Solutions

Rising fees on the Bitcoin blockchain after the halving will not set BitPay, a crypto payments startup, into using layer 2 payment channels...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today