Bank holding company Capital One Financial Corp. has filed a patent application for the methods and systems of using blockchain technology for collaborative user authentication.
The patent application, originally filed on June 16, 2017, has been published by the US Patent and Trademark Office (USPTO) last week.
The patent refers to the "computer-implemented methods and systems for blockchain-mediated user authentication" to be used by multiple participating member systems in a collaborative way.
According to the filing, the authentication system maintains a distributed, non-reputable record of authentication interactions, while limiting the sharing of personal information between institutions.
The system is expected to prevent having to respond to repeated authentication requests as users navigate between computer systems associated with different institutions.
The authentication data may comprise information gathered in compliance with statutory or regulatory guidelines for identifying customers, such as "Know Your Customer" guidelines under the USA Patriot Act.
The system would track authentication interactions for users attempting to access the computer systems of the participating institutions and would be non-reputable, preventing users or institutions from later challenging authentication records as false or inaccurate.
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