Lenovo starts using blockchain technology

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2018-02-19
Lenovo starts using blockchain technology

The US Patent and Trademark Office (USPTO) issued a request to the Chinese multinational company Lenovo, which proposed the use of blockchain technology to verify the authenticity of physical documents.

Lenovo’s solution was first introduced in 2016 and involves the use of digital signatures embedded in documents that can be transferred to a digital “map” of the document with the help of computing devices, which will allow to compare it with a physical copy and establish reliability.

Authors of the decision emphasize that the blocks of digital signatures will be in a distributed database with an ever growing set of data protected from hacking and patching.

“Thus, all parties that use the document, at any time can be convinced of the correspondence of its copies to the original,” – noted the developers.

As was mentioned before, IBM and a Danish shipping company Maersk partnered up to launch their own blockchain based solution for the global shipping trade. They initiate to simplify the sophisticated processes of transporting goods across the world to the most remote places. IBM is developing the system, which has two main goals: to provide a shipping information pipeline in a real-time mode and completely transparent track of goods movements.  As currently this process is based on labor-intensive paperwork, the system will be functioning on the fundamentals of the smart contracts, making the process faster, more secure and productive.

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