Likewise, the technology guarantees the reliability of the authentication of the parties involved during data transfers and ensures the confidentiality of the information. The US Patent and Trademark Office granted a patent (US 20210021577 A1) for this technology on February 22, 2022.
According to a survey, while 70% of companies have expanded their collection of personal information between 2020 and 2021, 53% of companies cannot confirm whether they are highly trained to comply with government cyber regulation. Legislations such as the General Data Protection Regulation (GDPR) have significantly increased the obligations of data subjects, creating a demand for next-generation data management technologies that can ease the compliance process.
The patent, “Systems and Methods for Sending User Data from a Trusted Party to a Third Party Using a Distributed Registry,” contains methods to protect personal data from unlawful transfer and processing, allowing companies to comply with the legal requirements. The technology is of particular relevance to Know Your Customer (KYC) and Customer Due Diligence (CDD) service providers. Organizations can now refer to transaction records on the blockchain network to confirm parties’ consent to the transfer and processing of personal data in cases of data transfer legitimacy issues.
This control over the data is achieved by forming a distributed registry in which each stage of the parties’ interactions during the sending of the user’s data is recorded. Proprietary methods ensure that the distributed record contains only the factual annotations of the personal data transmissions and the consent of the parties to such transmissions. All records are kept in the form of salted hashes, signed and encrypted in a unique and proprietary way.
This approach eliminates data breaches and uncontrolled data transfers by allowing use of general ledger records only by direct participants, including the data sender, data recipient, and data owner. the data, of the specific information transmissions.
“Data management technologies are a rapidly emerging global trend, and as a cybersecurity company, we were interested in developing methods that could contribute to the security of those solutions. While working on the project, we solved this security issue by providing the technical ability to confirm data transfer while ensuring information protection by not storing it on the blockchain,” says Alexander Sazonov, inventor of the blockchain. technology at Kaspersky. “The legitimation of the transfer of personal data is only a use of the research results. This technology may also be applicable in other scenarios, such as the exchange of supporting documents of trade or the confirmation of the authority of employees to sign B2B electronic interactions.”
Kaspersky will continue to develop this invention and explore its various applications and usability in all solutions.
In 2021, Kaspersky was named the top Russian patent company in the US, with 43 patents published last year, as mentioned in IFI Claims Direct’s annual patent ranking analysis.
More information in the kaspersky website.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.