Update of THEKEY Patents

TheKey
TheKey
Sep 30 · 3 min read

In order to protect the intellectual property and guarantee the safe use of the relevant technology, THEKEY has applied a series of patents with the application and deployment of BDMI. We are going to give a brief introduction of the patents and release the code on GitHub

(link:https://github.com/thekeygithub/Multi-dimensional-Survival-Authentication) accordingly. Below is the first patent we’ll introduce to you:

Pensioner Survival Certification Based on Blockchain Dynamic Multi-dimensional Identification

Patent Publication No.: CN109816541A

Patent Publication Date: 2019–05–28

Application No.: CN201910066422.1

  1. Benefits

In order to promote the socialized management services of retirees and prevent the endowment insurance fund from being falsely claimed, it is necessary to verify the identity of recipients, and to eliminate the existing problems occurred during the centralized verification and application verification process, which keeps recipients queuing up and waiting for a long time, and causes great inconvenience especially for elder people.

2. Technical solutions

The medical service institutions, the public security bureaus, the banking service institutions, and human resource and social security departments are added as nodes to the blockchain, and the data of each node are put on the chain, and the smart contract is deployed on the chain. We, at first, confirm the authorities that initiate authentications (human resources and social security bureaus are required), and then use the multi-source business data in the chain to carry out the insured person’s pension survival certification for the target insured (one or more)

1)If the insured person has a record of death, being wanted by police, serving a sentence, or missing, the status will be discontinued on the chain.
2) If the abovementioned scenarios didn’t happen, we will determine the living status of the insured depending on the pension survival authentication device, and the result will be:
The survival authentication device consists of the following formulas:

The formula customizes the weighted configuration of different services of the service organization. When the weighted value of the service is greater than the threshold within a certain period of time, the insured person is considered to be in a state of survival.
3) When the service weighting value is less than the threshold value within a certain period of time, the insured person’s living status cannot be judged, and the insured person needs to go to the organization for authentication. Once the authentication is successfully finished, the status will be put onto the chain.

3. Significance of the technology

1) Make full use of collected data and bring convenience to common people, and reduce the offline verification and realize the default verification.
2) Improve the efficiency of service and reduce the pressure on the handling institutions.
3) The data of each node are put onto the blockchain, which ensures that all data is undeniable and unalterable.
4) Smart contracts are deployed on the blockchain, which ensures equality and fairness.
5) The verification results are uploaded to the blockchain, which guarantees the irreparable modification and traceability of the certification results and reduces the risk of being falsely claimed.

About THEKEY

THEKEY is a decentralized ecosystem of Identity Verification (IDV) tool integrating national big-data and the blockchain. THEKEY’s proprietary Blockchain based Dynamic Multi-dimension Identification (BDMI) platform has been using Personal Identity Information (PII) exclusively authorized by the Chinese Government. THEKEY token (TKY) is the only method to settle smart contracts across THEKEY Ecosystem, which is tradable on HitBTC, Bit-Z, KuCoin, Lbank and LATOKEN, etc. THEKEY mainnet was launched in Nov 2018. THEKEY was granted the National “Technology Innovation Award of 2018 Chinese Government’s Information Product”; won the International Competitive Bidding co-launched by People’s Bank of China and Nanjing Municipal Government, and achieved social security data socialization and commercialization for the first time in Kaifeng, China.

For more information, please visit:

Website: https://www.thekey.vip

Twitter: https://twitter.com/thekeyvip

Medium: https://medium.com/@thekeyvip

Telegram: https://t.me/THEKEYOFFICIAL

Reddit: https://www.reddit.com/r/THEKEYOFFICIAL

Facebook: https://www.facebook.com/TheKey-1439094662870680/

YouTube: https://www.youtube.com/channel/UCDuN2bjI7cAhoIIxJ_nTaCQ

TheKey

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TheKey

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