AT&T, the largest telecommunication company in the world, has just filed a patent to unveil its new application which is built on the advanced tools of blockchain technology.
Blockchain Gaining Rapid Adoption
The past few years have seen the popular cryptocurrency, Bitcoin (BTC), rise from obscurity into the world’s consciousness. While cryptocurrencies continue to gain grounds, and the use of digital currencies continues to progress steadily over time, it is the underlying technology behind BTC that has gained more traction and lovers. National institutions and bank conglomerates might voice their disapproval against the concept of digital assets, but none has waved the cutting edge DLT technology in the same fashion.
With immense benefits to offer across just any fields, the technology continues to garner admirers and attention. IBM, UAE’s Central Bank and Petroleum Sector, and JP Morgan are just a few who have already invested significantly in implementing blockchain.
Blockchain has just made another giant stride towards global adoption after heavyweight conglomerate group AT&T announced that it had filed a patent for its innovation which was built on the blockchain technology.
According to AT&T, the technology’s major strength in immutability and transparency is set to set a landmark for other innovations that would seek to emulate the company; hence the need for a patent.
The Ultimate Social Media Tool
AT&T innovation and application is meant to “map” social media histories, by tracking user data and creating solution via users’ unique interests. The patent which was published on the 13th of this month was titled Blockchain-Based Social Media History Maps and has been touted to be a significant benefit for not only individuals but employers as well. The patent explained how immutability and permanence would be the important strengths of DLT that would be harnessed. A part of the published statement read:
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”
While the application has a few issues regarding the privacy of user data, the company has assured via its patent that ownership of personal data would still belong to individual owners, all thanks to the blockchain. Concerning the issue of ownership, the statement read:
“Instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data,” a part of the statement read, in lieu of ownership. It explained: “What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”
As of press time, the patent is still under review and is yet to be approved.