BaaS-Enabled Virtual Exchange for Consistent Electronic Token Valuation
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Solution Overview
Problem
Enterprise organizations face challenges in effectively utilizing and valuing electronic value objects such as virtual currencies and rewards points, leading to unused assets and loss of consumer goodwill due to limited exchange opportunities and lack of consistent valuation.
Innovation Solution
Integrate Banking as a Service (BaaS) functionality into application programming interfaces (APIs) to create a virtual exchange platform that facilitates the exchange of electronic value objects, leveraging banking back-end services for secure, regulated, and trusted transactions, including valuation using AI and blockchain technology.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If enterprise organizations provide limited exchange opportunities for electronic value objects, then the system complexity is reduced, but the electronic value objects remain unused and are abandoned
Solution Approach 1:
The patent introduces a virtual exchange platform as an intermediary system that connects electronic value objects from multiple enterprise systems. This mediator enables exchange opportunities without requiring direct integration between all enterprise systems, thus increasing adaptability while managing complexity through a centralized exchange infrastructure.
Solution Approach 2:
The virtual exchange platform is designed with universal functionality to handle multiple types of electronic value objects (rewards points, virtual currencies, travel mileage) from different enterprises. This multi-functional approach allows the system to provide broad exchange opportunities while using standardized processes to control complexity.
2Measurement precision
If enterprise organizations do not integrate banking functions, then the device complexity is reduced, but the valuation of electronic value objects lacks consistency and trust
Solution Approach 1:
The patent integrates Banking as a Service (BaaS) as an intermediary layer that provides standardized valuation and transaction processing functions. This mediator ensures consistent valuation of electronic value objects by leveraging established banking protocols and regulations, while the modular BaaS architecture manages complexity through standardized interfaces.
Solution Approach 2:
The system performs preliminary valuation and validation of electronic value objects through integrated banking functions before exchanges occur. This advance processing ensures consistent measurement and trustworthiness of valuations, while the automated preliminary actions reduce the complexity of real-time decision-making during exchanges.
3Reliability
If a virtual exchange platform is created with BaaS integration, then the reliability and trust of electronic value object exchange is improved, but the device complexity increases
Solution Approach 1:
The virtual exchange platform uses Banking as a Service as an intermediary to handle sensitive transaction processing, security validation, and regulatory compliance. This mediator provides reliable and secure transaction processing while the platform itself maintains a simpler structure by delegating complex banking functions to the BaaS layer through standardized APIs.
Solution Approach 2:
The patent segments the system into distinct functional layers: the virtual exchange platform layer handles user interactions and exchange logic, while the BaaS layer handles banking functions, security, and compliance. This segmentation improves reliability by specializing each layer's function while managing overall complexity through clear interface boundaries.
Data Source
AI summary
A computing system includes a first computing platform and a virtual exchange computing platform, where the first computing platform provides an application and a first electronic value token and the virtual exchange computing platform is communicatively coupled to the first computing platform. The virtual exchange computing platform receives the information corresponding to the first electronic value token and calculates, via API functions linking to banking as a service (BaaS) functionality processed by a valuation computing platform, a valuation of the first electronic value token. The virtual exchange computing platform causes presentation, via a network and on a first user device, a user interface screen presenting a visualization of a value of the electronic value token and comprising an input and triggers, based on a received trade input from the user interface, a virtual exchange of value involving the first electronic value token.