The banking industry is researching and developing blockchain technology. In June 2017, Capital One filed a patent application with the U.S. Patent and Trademark Office (USPTO). The USPTO published the patent on August 16th. Capital One’s blockchain will focus on user authentication in the areas of security and customer satisfaction. It advances the onboarding process for new customers. Repeating user authentication is considered one of the more irritating aspects of online financial applications. It has been a necessary aspect of holding accounts at different institutions. A collaborative authentication system for user accounts would benefit both clients and institutions. Blockchain technology has come to be known as a storage, or record, of value. However, its application can be much more than this. Capital One recognizes how blockchain technology can be used for data sharing, that is, to receive and retrieve information. In addition to streamlined onboarding, Capital One expects to advance the automation of user authentication. The collaborative authentication system would enable multiple institutions to retrieve user data. This data will be encrypted and limited. The system itself would determine the amount of personal information that is exchanged. Blockchain technology is characterized as distributed and reputable. Capital One takes advantage of both of these aspects in designing a new method for user authentication. The reason this is so important is that banking involves more than just institutions. It also operates over a variety of platforms. A collaborative authentication system would go a long way toward bridging the differences within the banking industry. Capital One’s new system is indeed poised to change banking. It would save both customers and institutions time. Operations become more efficient as administrative aspects benefit. Maybe more important is what may come from Capital One’s blockchain innovation. The banking industry as a whole benefit from liberated resources. This means that cost reductions can be transferred to customers or onto better products. The idea of a non-reputable system is also interesting. It could serve to increase confidence in banking. Secured data sharing of this type has a lot of potential, especially in a historically apprehensive industry.