Distributed transaction processing and authentication system

A transaction and transaction recording technology, applied in transmission systems, data processing applications, digital transmission systems, etc., can solve problems such as inability to ensure

Pending Publication Date: 2019-04-26
KALYPTON INT LTD
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  • Abstract
  • Description
  • Claims
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AI Technical Summary

Problems solved by technology

Another impact is the inability to ensure that the data collected by the device is actually related to a specific event detected by the device
[0007] Cloud-ba...

Method used

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  • Distributed transaction processing and authentication system
  • Distributed transaction processing and authentication system
  • Distributed transaction processing and authentication system

Examples

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Embodiment Construction

[0112] Tereon is an electronic transaction processing and authentication engine. It can be implemented as a mobile and electronic payment processing system. It can also be used in other embodiments, for example, as part of an IoT communication system.

[0113] Tereon provides transaction capabilities to any IP (Internet Protocol) enabled device, and any device that can interact with that IP enabled device. All that is required for this is that each device has a unique ID. Use cases for Tereon range from IoT devices to access and management of medical records, up to payments using common ones such as mobile phones, payment terminals, or ATMs (Automatic Teller Machines). In an initial example implementation, Tereon supports mobile phones, cards, point of sale, and any unique reference ID. Tereon provides the functionality needed to enable customers and merchants to make payments, receive payments, transfer funds, receive funds, make chargebacks, receive chargebacks, deposit f...

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Abstract

A method of recording a data transaction comprising, at a device associated with a first entity, determining first seed data, generating a record of a first transaction between the first entity and asecond entity, determining second seed data by combining at least the first seed data and the record of the first data transaction, generating a first hash by hashing the second seed data, the first hash comprising a history of data transactions involving the first entity and storing the first hash against the record of the first data transaction in a memory.

Description

technical field [0001] The present invention relates to a system and method for executing transactions at scale, securely, and near real-time in a single incarnation. Background technique [0002] Transaction processing involves large-scale distributed computer-based systems, and, in particular, involves multiple parties performing transactions in the payment field, but also in other financial asset and commodity transactions, entity access control, logic to data Access, manage, and monitor the devices that make up the Internet of Things (IoT), etc. [0003] When building a transaction processing system, engineers must make difficult trade-offs. This includes choosing between speed and flexibility, throughput and consistency, security and performance, consistency and scalability, and more. This trade-off usually affects the overall system. Payment processing systems reflect the effects of these trade-offs. Payment processing may need to process 600 to tens of thousands o...

Claims

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Application Information

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IPC IPC(8): H04L9/32
CPCH04L9/3218H04L9/3239H04L9/3247H04L63/029H04L63/0823H04L63/123H04L2209/56H04L9/50H04L9/0643H04L9/3242G06Q40/02H04L9/3221
Inventor 拉尔斯·戴维斯
Owner KALYPTON INT LTD
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