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Friday, December 9, 2022

Kaspersky patents blockchain technology for secure data transfers with no possibility for data breaches

In a new patent, Kaspersky showcases a new technology that allows data transfer and processing in a more secure way than ever before, thanks to the use of blockchains. According to the company, the new blockchain technology facilitates data management while ensuring the confidentiality of information.

The US Patent and Trademark Office issued a patent for Kaspersky’s new technology earlier this year. “Systems and methods for sending user data from a trusted party to a third party using a distributed registry” describe the technology. As the name suggests, the technology protects personal data from illegal transfer and processing. Kaspersky says that the technology is particularly relevant for Know Your Customer (KYC) and Client Due Diligence (CDD) services.

The company says that the enhanced data control is achieved by forming a distributed registry, the crux of blockchain. These registries then record each stage of the involved parties’ interactions, when user data is sent from one party to another. The patented methods work in a way that the distributed registry only contains the records pertaining to the facts of the personal data transmissions, as well as the parties’ consent to such transmissions. The data is secured for privacy, as all the records are maintained in the form of hashes that are “salted, signed and encrypted” by the patented technology.

Kaspersky claims its new data management technology eliminates the chances of data breaches and uncontrolled data transfers. By limiting the use of ledger records to directing participants – the data sender, the data recipient, and the data owner – this can be accomplished. Technology can in practice enable organisations to verify transaction records in the blockchain network, confirming parties’ consents to the transfer and processing of personal data, which is especially useful in cases of data transfer legitimacy issues.

Alexander Sazonov, inventor of the technology at Kaspersky, says that the technology has other uses as well. “This technology may also be applicable in other scenarios, such as the exchange of trade supporting documents or the confirmation of employees’ authority to sign off on B2B electronic interactions,” he says.

Sandra Lee, Managing Director of Asia Pacific, Kaspersky said, “Kaspersky’s latest patent helps service providers comply with legal requirements regarding the data safety protocols they must adhere to as well as deliver on the commitments they make to their clients.”
Kaspersky says that it will continue to seek more applications for the technology and thus spread its usability across solutions.

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