Lenovo Plans to Launch a Blockchain Based Product
A new patent obtained by one of the world’s leading electronics companies has brought up in discussion a potential huge project that will work in accordance with the blockchain technology. The company is supposed to launch a new advanced product on the market.
On 15 February 2018, the U.S. Patent and Trademark Office (USPTO) published an official document about the Chinese technology company Lenovo. There was mentioned about a new product that operates with digital signatures codes and security blockchain. These will further allow to connect the device to any computer or machine. The main objective of the new product is to “verify the legitimacy of a document”.
The Lenovo team wrote about the new project that “Using the security blockchain, anyone can validate that they have the current authentic physical document even if multiple paper copies exist and multiple people have made entries in the chain of modification. If any forgeries exist, they will show up as orphaned blocks in the chain. To validate a paper copy, a user of the electronic device takes a picture of the printed code on the physical document.”
The benefit guaranteed by Lenovo is that all persons involved in having copies of a document have no negative consequences in terms of the information alteration.
Lenovo is not at its first attempt to engage in blockchain technology development. The Chinese giant has already collaborated last year with IBM. They have worked on a project related to billing and transparent processing operations.