CITIC Bank Applies for Blockchain Privacy Data Protection Patent, Enhancing Data Security

CITIC Bank Applies for Blockchain Privacy Data Protection Patent, Enhancing Data SecurityFinancial World, August 20, 2024: According to Tianyancha Intellectual Property Information, CITIC Bank Co., Ltd

CITIC Bank Applies for Blockchain Privacy Data Protection Patent, Enhancing Data Security

Financial World, August 20, 2024: According to Tianyancha Intellectual Property Information, CITIC Bank Co., Ltd. has applied for a patent titled "Blockchain Privacy Data Protection Method and Device, Equipment, and Storage Medium", with publication number CN202410507388.8, and an application date of April 2024.

This patent primarily focuses on the field of blockchain privacy data protection technology, particularly a method for blockchain privacy data protection. The method aims to enhance data security and ensure orderly data processing through multiple encryption mechanisms and time-based decryption settings.

Specifically, the method involves the following steps:

1. Obtain Target Privacy Data Information and Encryption Key Set: Firstly, obtain the privacy data information requiring protection from the first target user and generate a corresponding privacy encryption key set based on this information.

2. Data Block Analysis and Time-based Decryption Setting: Segment the target privacy data information into multiple data blocks. Analyze each data block and set its time-based decryption time and conditions, outputting the data time-based decryption setting results.

3. Double Encryption of Data: Double-encrypt each data block using the privacy encryption key set and other encryption methods. This results in double-encrypted data.

4. Data Decryption Judgement: When the second target user requests data information access, the system will decrypt and judge the encrypted data within the double-encrypted data results. Based on the judgment results, it will output either "data decryption completed" or "data double decryption successful."

5. Automatic Selection of Decryption Data Block: Based on the data time-based decryption setting results, the system will automatically select the first data block needing decryption.

6. Decryption and Data Concatenation: Decrypt the selected data block, obtaining the first privacy data block acquisition result. Then, obtain the second privacy data block acquisition result and the remaining privacy data block acquisition results based on the settings. Finally, concatenate all the obtained privacy data blocks to output a successful target privacy data information acquisition result.

This patent effectively addresses the issue of single encryption keys by employing multiple encryption mechanisms and time-based decryption settings, enhancing data security. Additionally, the method ensures more orderly data processing, improving overall efficiency.

CITIC Bank's application for this patent demonstrates its active exploration in the field of blockchain privacy data protection, striving for more secure and reliable data protection solutions. This holds significant importance for promoting digital transformation in the financial industry and safeguarding user data security.