Alias Management for Unregistered Recipient Value Transfers
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Solution Overview
Problem
Traditional value transfer systems expose sensitive information and require recipient entities to be registered before an alias can be used, limiting their utility and facilitating deep integration with third parties, which hinders widespread adoption.
Innovation Solution
An alias management and value transfer claim processing system that allows value transfers using unregistered recipient entities by reserving funds from the sending entity's account, sending a registration request to the recipient, and crediting the recipient's account upon successful registration, while maintaining privacy and enabling real-time transfers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If traditional value transfer systems expose sensitive information to identify recipient entities, then the transfer process is simple and direct, but privacy and security are compromised
Solution Approach 1:
The patent introduces an alias as an intermediary identifier that mediates between the recipient entity and the value transfer system. Instead of exposing sensitive recipient information (like account numbers or personal identifiers), the system uses a public alias that can be freely shared. The alias management system acts as a mediator that maps these public aliases to private recipient identifiers, thereby protecting sensitive information while enabling value transfers.
2Loss of information
If alias enabled value transfer systems require recipient entities to be registered before use, then sensitive information is protected, but the utility and ease of operation are reduced
Solution Approach 1:
The patent implements preliminary action by allowing the system to reserve funds and initiate value transfer processes before the recipient entity is fully registered. When a value transfer is requested to an unregistered alias, the system proactively reserves the funds and creates a pending transfer record. The recipient can then complete registration at their convenience, and the pre-reserved funds are automatically transferred, eliminating the need for pre-registration and simplifying the user experience.
3Reliability
If traditional value transfer systems are designed as stand-alone closed systems, then system security and control are maintained, but adaptability and versatility are limited
Solution Approach 1:
The patent implements universality by designing the alias management system to serve multiple functions and integrate with various external systems. The system provides standardized APIs that enable third-party applications, wallets, and platforms to interact with the value transfer network. The alias management functionality is made universal, allowing it to work across different value transfer protocols and external systems, thereby maintaining core security controls while enabling widespread integration and adaptability.
Data Source
AI summary
An alias management and value transfer claim processing system is disclosed. A sending entity initiates value transfer identifying a recipient entity using an alias that is unregistered with the system. The value transfer is authorized, but not settled until the recipient entity registers with the system and claims the value transfer. The registered alias can be used for subsequent value transfers.