Cryptographically Protected Ledger for B2B Transaction Processing
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Traditional B2B systems require frequent reconciliation of transaction records, leading to increased costs and complexity due to separate storage of purchase orders, invoices, and shipping information, which can result in inefficiencies in managing purchase transactions.
Innovation Solution
A system that uses a cryptographically protected ledger to record and progressively update transaction documents with purchase information, eliminating the need for separate records by integrating all relevant data into a single document, thereby simplifying the recording and validation process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of manufacture
If separate records are used to store purchase orders, invoices, and shipping information, then data can be organized by document type, but reconciliation complexity and costs increase
Solution Approach 1:
The patent combines multiple separate transaction records (purchase orders, invoices, shipping information) into a single unified transaction document stored in a shared ledger. This merging eliminates the need for reconciliation between separate records while maintaining organized data structure through a single source of truth that all parties access and update.
2Adaptability or versatility
If multiple systems maintain separate transaction records, then each system can independently manage its data, but transaction validation becomes inefficient
Solution Approach 1:
The shared ledger serves multiple functions simultaneously: it stores transaction data, provides validation mechanisms, enables audit trails, and facilitates collaboration between purchaser and seller systems. This universal platform maintains system independence while dramatically improving validation efficiency through a single source of truth that all parties can verify.
3Reliability
If separate storage systems are used for different transaction documents, then data security can be managed per document, but overall system costs increase
Solution Approach 1:
The patent merges multiple separate storage systems into a single shared ledger that provides unified security management. This consolidation reduces overall system costs by eliminating redundant security infrastructure while maintaining or enhancing security through centralized cryptographic protection and immutable record-keeping.
Data Source
AI summary
A method is provided for recording purchase transactions, including: receiving a purchase order request that is associated with a purchase order, the purchase order request being received from a purchaser-side system, the purchase order request including purchase information identifying a product, a product quantity, and a first order identifier that is assigned to the purchase order by the purchaser-side system; generating a transaction document in response to the purchase order request, including the purchase information into the transaction document, and recording the transaction document in a document sharing platform or shared cryptographically protected ledger; and progressively updating the transaction document with information provided by the purchaser-side system and a seller-side system as the purchase order is being fulfilled, wherein each update to the transaction document is recorded in the cryptographically protected ledger.