Agricultural Bank of China Files Blockchain Data Processing Patent to Secure User Data Security and Sovereignty

Agricultural Bank of China Files Blockchain Data Processing Patent to Secure User Data Security and SovereigntyOn December 18, 2024, the State Intellectual Property Office of China revealed that the Ningbo branch of Agricultural Bank of China Co., Ltd

Agricultural Bank of China Files Blockchain Data Processing Patent to Secure User Data Security and Sovereignty

On December 18, 2024, the State Intellectual Property Office of China revealed that the Ningbo branch of Agricultural Bank of China Co., Ltd. filed a patent for a "Data Processing Method, Device, and Storage Medium Based on Blockchain," with the publication number CN119128847A and an application date of September 2024. The core of this patented technology lies in utilizing blockchain technology to effectively separate users' private data from application services, thereby safeguarding user data security and sovereignty.

The patent abstract details the technology's operation. The method is applied to blockchain nodes, beginning with a user submitting a first authentication authorization request. Upon receiving the request, the node invokes a first smart contract for identity verification. After successful verification, the system sends a user token to the user. Subsequently, when a service provider receives a service request from the user, it sends a user token verification request corresponding to the service request to the blockchain node. The node then verifies the user token based on a second smart contract and returns the verification result to the service provider.

Importantly, the patent design cleverly incorporates multi-layered security mechanisms. When a service provider requests access to a user's private data, it must first receive an authorization confirmation request from the user. The system then generates a user authorization token corresponding to the service provider based on a "user data authorization smart contract." Only with this authorization token can the service provider access the user's private data. This authorization mechanism effectively prevents unauthorized data access, ensuring user data security.

A key innovation is the storage method for users' private data. The patent application explicitly states that users' private data is stored in a user data storage module independent of the service provider. This independent storage achieves physical isolation of users' private data from application services, effectively mitigating the risk of data leakage. Traditional data processing models often store user data directly in the service provider's database, granting the service provider complete control over user data and exposing it to the risks of leakage and misuse. This patent technology significantly improves this model, firmly placing data sovereignty in the hands of the user.

This blockchain-based architecture provides a higher level of security for users' private data. The automated execution of smart contracts ensures the entire data access process is traceable and tamper-proof, significantly reducing the security risks caused by human error or malicious attacks. The decentralized nature of blockchain technology also makes data storage more secure and reliable; even if a single node fails, data integrity and availability are not affected. This is of significant practical importance for industries, such as finance, with extremely high data security requirements.

The patent's application prospects are vast. In finance, it can be used to protect sensitive information such as personal account information, transaction records, and credit data. This technology allows banks to better protect customer privacy and enhance customer trust in banking services. Furthermore, the technology can also be applied to other fields requiring user data security protection, such as healthcare, education, and e-commerce. For instance, in healthcare, patients' medical records can be securely stored on the blockchain, accessible to medical institutions only with the patient's authorization.

This patent reflects not only technological advancement but also a commitment to data security and user rights. In an era of increasing emphasis on data privacy and security, this patent is highly significant. It offers new approaches for building a more secure and reliable data ecosystem and provides stronger safeguards for user data security. This innovative technology enhances both the efficiency and security of data processing while effectively protecting user data sovereignty, contributing positively to the healthy development of the digital economy.

Agricultural Bank of China has consistently explored and applied new technologies to enhance service levels and protect customer interests. This patent application fully demonstrates the bank's investment and efforts in technological innovation and data security. It is not merely a technological patent but a commitment to user data security and sovereignty, reflecting the bank's responsibility to its users and society. The mature application of this technology will further promote data security in the financial industry and provide a valuable reference for other sectors.

The application of this technology will greatly enhance user trust in data security and promote data sharing and utilization. With data security ensured, users can confidently share their data, thereby driving data-driven innovation and development. This will have a positive impact on socio-economic development, contributing to a more open, shared, and secure data ecosystem. As the technology further develops and matures, it will undoubtedly play a more significant role in safeguarding user data security and sovereignty.

In conclusion, the blockchain-based data processing patent filed by the Ningbo branch of Agricultural Bank of China represents a significant breakthrough in data security within the financial industry. It not only provides an effective method for protecting users' private data but also reflects the bank's commitment to user data security and sovereignty. This technology's application prospects are broad, and it will undoubtedly have a profound impact on future data security and the development of the digital economy. We look forward to the early application of this technology to safeguard user data security.