There is a new announcement for a patent submission coming directly from Siemens Aktiengesellschaft to the European Patent Office in which the tech giant is aiming to protect login processes based on a distributed database system or a blockchain-based system such as IOTA, PIVX, Ethereum or Bitcoin Cash. The blockchain news today show that Siemens obtains new patent (its 13th) which references the use of the IOTA tech – to secure the right to a system for protecting application processes.
According to data from IotaArchive, there has been a total of 111% patent applications filed by 44 companies by the end of 2019, referencing the Tangle technology. Data shows that about 50% of all patents were filed by five companies including Innogy SE (Energy supplier, Germany, 25 applications), Siemens AG (Electronics, Germany, 12 applications), RWE AG (Energy supplier, Germany, 10 applications), Intel Corporation (Semiconductor, USA, 6 applications) and Merck (Pharma, Germany, 3 applications).
As Siemens obtains the new patent for login protection, we can see that it continues its dominance in the patent field. Around 77% of all patents for the company have been published within the last year.
This latest patent shows that Siemens AG is starting to lead the way in the blockchain field. The IOTA news show that the patent was granted to the company for a system for “protection of application processes” which refers to IOTA and blockchains.
In the document, we can also see that the common login processes at service providers have numerous weaknesses with regards to brute force attacks. In such attacks, hackers automatically test the username/password combinations to guess the correct credentials. If a “simple” password was chosen by the user, the probability that the access data can be hacked increases accordingly.
As Siemens obtains the new patent, it also refers to the method as an “opt-in deposit based approach” under which a small deposit is required for each login attempt, which is refunded immediately after successful registration.
“According to the method of the invention, the login process is advantageously secured by directly executed transactions, which can be micro-financial value transactions, such as those made possible by distributed database systems or blockchain-based systems, such as IOTA, PIVX, or corresponding public payment protocols with consent and validation mechanisms,” the company stated.
On another note, this is a clear sign that IOTA is receiving increasing attention from industrial companies and could become the worldwide standard in the field of machine-to-machine payments.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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