Blockchain Cashback Payment Server for Cryptocurrency Transactions
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Solution Overview
Problem
Current cryptocurrency transactions lack the ability to provide cashback options, limiting their adoption in online and offline stores as a payment method.
Innovation Solution
A method utilizing blockchain technology to automatically provide cryptocurrency cashback by converting cryptocurrency payments into points and credits, allowing payers to receive cashback and affiliated stores to accrue points, with adjustable cashback ratios based on usage frequency and product types, and considering market fluctuations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If cryptocurrency payment is implemented in stores, then payment diversity is improved, but cashback functionality is lost
Solution Approach 1:
The patent introduces a payment server as an intermediary between the payer and the store. This server manages the cryptocurrency transaction and automatically handles cashback by transferring points to the payer's electronic wallet, thus enabling cashback functionality in cryptocurrency payments without requiring direct integration between store and payment system.
Solution Approach 2:
The system implements automatic feedback by monitoring cryptocurrency transactions and automatically crediting cashback points to the payer's electronic wallet. The payment server detects the transaction amount and proportion, calculates the cashback amount, and automatically transfers points, creating a closed-loop feedback system that enables cashback without manual intervention.
2Ease of operation
If automatic cashback system is implemented, then user satisfaction is improved, but system complexity is increased
Solution Approach 1:
The payment server performs self-service by automatically detecting transaction amounts, calculating cashback proportions, and transferring points to the payer's electronic wallet without requiring manual intervention from store staff or complex user actions. The system serves itself by monitoring blockchain transactions and automatically executing cashback operations.
Solution Approach 2:
The payment server serves multiple functions: it processes cryptocurrency transactions, monitors transaction amounts, calculates cashback proportions, manages point transfers, and interacts with both payers and stores. This multi-functional design consolidates complexity into a single server rather than distributing it across multiple systems.
3Productivity
If cryptocurrency payment is widely adopted, then transaction volume is increased, but market fluctuation risk is increased
Solution Approach 1:
The system converts cryptocurrency payments into points that are stored in electronic wallets before actual spending occurs. This preliminary conversion creates a buffer that isolates the store from future cryptocurrency value fluctuations, as the points represent a fixed value determined at the time of payment rather than at the time of redemption.
Solution Approach 2:
The patent implements a cushioning mechanism by introducing points as an intermediate representation of value. When cryptocurrency is paid, it's converted to points that cushion against market fluctuations. The store receives points rather than direct cryptocurrency, protecting it from future price volatility while still enabling widespread cryptocurrency adoption.
Data Source
AI summary
In a method of providing cryptocurrency cashback using blockchain technology, in which when cryptocurrency is transferred from the payer's electronic wallet to the affiliated store's electronic wallet according to payment via cryptocurrency using blockchain technology, the payment server 200 provides cryptocurrency cashback, an embodiment of the disclosure provides credits proportional to the amount of payment, as cashback, to the payer's credit electronic wallet, and the affiliated store receiving the amount of payment deducts points proportional to received points from the received points and stores in the affiliated store's credit electronic wallet.