Kaspersky patents blockchain technology for secure data transfers, with no chances of data breach
India Today
Kaspersky has a new data management solution that avoids data breaches even during data transfers. Based on blockchain, here is how its newly patented technology works.
Kaspersky has a new patent to its name, around a new technology that enables data transfer and processing in a safer way than ever before, thanks to the use of blockchain. The company says that the new patented blockchain technology eases the data management process while ensuring information confidentiality.
The patent for the new technology by Kaspersky was issued by the US Patent and Trademark Office earlier this year. It goes by the name “Systems and methods for sending user data from a trusted party to a third party using a distributed registry.” Just as the name suggests, the technology is meant to protect personal data from illegal transfer and processing. With this, Kaspersky says that the technology is of particular relevance for Know Your Customer (KYC) and Client Due Diligence (CDD) service providers.
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.
As per Kaspersky, its new data management technology is able to eliminate the chances of data breaches and uncontrolled data transfers. This is done by only permitting the use of ledger records to direct participants the data sender, the data recipient and the data owner. In practice, the technology can allow organisations to check transaction records in the blockchain network, in order to confirm parties’ consent to the transfer and processing of personal data, 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.
