Jilin JikeSoft Applies for Patent on "Blockchain-based Supply Chain Finance Distributed Digital Identity Authentication Method"

Jilin JikeSoft Applies for Patent on "Blockchain-based Supply Chain Finance Distributed Digital Identity Authentication Method"According to the National Intellectual Property Administration, Jilin JikeSoft Information Technology Co., Ltd

Jilin JikeSoft Applies for Patent on "Blockchain-based Supply Chain Finance Distributed Digital Identity Authentication Method"

According to the National Intellectual Property Administration, Jilin JikeSoft Information Technology Co., Ltd. filed a patent application in July 2024 for a "method for blockchain-based supply chain finance distributed digital identity authentication." The application publication number is CN118940313A.

This patent aims to address the issues of enterprise identity verification and information security in supply chain finance. By leveraging blockchain technology and distributed digital identity (DID) technology, it constructs a secure digital identity authentication system, thereby enhancing the efficiency and security of supply chain finance.

The patent abstract outlines the following steps of the authentication method:

• Step S100: Each participating party registers a unique distributed digital identity DID. Each participating party, including financing companies, financial service providers, and authoritative institutions, possesses a unique DID in the system, serving as their digital identity identifier on the blockchain network.

• Step S200: Authoritative institutions, as credential issuers, register as digital credential authorization institutions, providing digital credential declaration templates. Authoritative institutions, such as government departments or industry associations, can register as digital credential authorization institutions responsible for issuing and managing digital credentials. They provide standardized digital credential declaration templates to record and verify enterprise qualification information.

• Step S300: Financing companies apply to authoritative institution credential issuers for enterprise qualification digital credentials, and the authoritative institution credential issuer verifies the DID of the applicant financing company. Financing companies need to apply to authoritative institutions for enterprise qualification digital credentials. The authoritative institutions will verify their DID to ensure the applicant's identity is legitimate and valid.

• Step S400: The applicant financing company signs an electronic transaction contract using its private key, and the authoritative institution credential issuer issues a digital credential and stores it on the chain. The financing company signs the electronic transaction contract using its private key, and the authoritative institution issues a digital credential and records both the credential information and the transaction contract on the chain, ensuring transparency and immutability of the transaction process.

• Step S500: Financial service providers leverage dynamic consensus mechanisms to verify the DID of the applicant financing company and verify the enterprise qualification digital credential and electronic contract digital credential of the applicant financing company. Financial service providers can use dynamic consensus mechanisms to verify the financing company's DID and check its enterprise qualification digital credential and electronic contract digital credential, ensuring the authenticity of the trading counterparty and the reliability of its qualifications.

This patent application showcases JikeSoft's innovation capabilities in blockchain and digital identity technologies, providing a novel solution to address identity verification and information security challenges in supply chain finance. This authentication method is expected to enhance the efficiency and security of supply chain finance, facilitating the digital transformation of the industry.