Sony Files Two Patents for Boosting Blockchain-Based Ecosystems

Sony is referred to as a household name in the tech and electronics industry as far as the world remains a global village. According to filings 20180218027 and 20180219686 released by the U.S. Patent and Trademarks Office on August 2, Sony has filed two patents for boosting blockchain-based ecosystems.
The Japanese-based company showed its interest in the blockchain technology last year with its partnership with another tech giant, IBM, to invent an educational platform using blockchain in securing and sharing student records.
Also, in 2017, the global firm filed a patent application for a blockchain-based multi-factor authentication system (MFA), offering a combination of two separate distributed ledgers in order to conduct the login process.
The patent will serve as a mechanism by which Sony intends to develop and improve the structural design of blockchain hardware through the introduction of new circuitries to the procedure of Ledger technology.
The first application: “Electronic node and method for maintaining a Distributed Ledger” characterized an electronic invention for the maintenance of a blockchain based on several electronics nodes, this will include multiple blocks attached with at least one of the existing blocks.
The patent analyzes a scheme of listing new blocks on a distributed ledger in a slightly abridged format, it contributes to the invention of competitive nature of nodes performing mining process, and this implies that smaller block created by these nodes can achieve a more significant return.
On the other hand, the second patent: “Device and system,” the giant Japanese tech company invented a mechanism of maintaining a blockchain by several virtual nodes, it then suggests a mechanism to access the distributed ledger through at least one of these nodes.

Virtual Nodes for Blockchain integrity

According to Sony, the incorporation of virtual nodes will ensure the integrity of the blockchain instances that the number of devices becomes little peradventure if some devices go down.
Founded in 1946, the Sony Corporation had previously paid tribute to the fast-growing technology of blockchain; however, the latest patents are the company’s first introduction into a hardware system of the distributed ledger.
Sony is not alone on the voyage which tilts towards this system as U.S. retail giant, Walmart, recently applied for a patent on the management of smart appliances via blockchain, which would maintain the private keys in order to approve a transaction. Earlier in July, Bank of America (BoA) filed a patent for a blockchain-powered system of data validation that offers to track sources of information by confirming resource transfers.
This trend is one which is expected as companies and firms in various industries including entertainment now take judicious advantage of the incorruptible and transparent nature of the blockchain technology.

Related posts
BanksBitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMarketsNewsUSAxbtusd

Bitcoin Retakes $57K As Hundreds Of US Banks Prepare To Offer Crypto Trading And Custody To Clients

Bitcoin has recouped the losses from recent sell-off after news that the world’s oldest cryptocurrency is soon coming to hundreds of United States banks. Data from CoinMarketCap shows that bitcoin is hovering at $57,091.36 at press time, with 5.47% daily…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTJamie DimonjpmorganNewsxbtusd

My Clients Care About Bitcoin, I Don’t: JPMorgan CEO Jamie Dimon

The trajectory that bitcoin has seen over the last decade has been nothing if not interesting. There was a time where it was popular among top financial executives to denounce bitcoin and declare it is a scam or fraud at…
CoinbasecryptocurrencyCryptocurrency NewsFeaturedNews

How Coinbase is Driving the Crypto Market to the Richest Fintech Hands

Not every cryptocurrency proponent is a fan of the giant exchange platform Coinbase. But if sentiments are kept aside, it is crystal clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will…