Blockchain Commerce Rewards Across Tenants
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Solution Overview
Problem
Current financial systems face inefficiencies in asset transfer and commerce rewards due to reliance on intermediaries, high fees, and complexity, making it difficult to track ownership, prevent fraud, and facilitate conditional transfers, especially when implementing rewards across multiple merchants.
Innovation Solution
Implementing a commerce rewards system using blockchain technology within a cloud-based computing environment, which allows for decentralized asset ownership tracking, efficient payment processing, and secure conditional transactions across tenants, leveraging permissioned blockchains for enhanced security and privacy.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If a single shared ledger is used to record asset ownership, then transaction efficiency and settlement speed improve, but system complexity and trust requirements increase
Solution Approach 1:
The patent divides the single shared ledger concept into multiple independent distributed ledgers, each maintained by different participants in the network. This segmentation eliminates the need for a central trusted party while maintaining transaction efficiency, as each node independently validates and records transactions without requiring complex centralized coordination mechanisms.
Solution Approach 2:
The distributed ledger system provides universal functionality by enabling multiple types of transactions and asset representations on the same network infrastructure. The system handles various transaction types (transfers, smart contracts, token exchanges) and supports diverse assets (cryptocurrencies, securities, commodities) without requiring separate specialized ledgers, reducing overall system complexity.
2Adaptability or versatility
If blockchain technology is implemented for commerce rewards across multiple merchants, then reward sharing and tracking capability improve, but infrastructure complexity and implementation costs increase
Solution Approach 1:
The patent introduces a reward management smart contract as an intermediary layer that automatically handles reward allocation, tracking, and distribution across multiple merchants. This smart contract intermediary simplifies the infrastructure by providing a standardized interface for reward management, eliminating the need for complex point-to-point coordination between merchants and reducing implementation complexity.
Solution Approach 2:
The system uses token representation to create digital copies of commerce rewards that can be transferred and tracked across the blockchain network. These digital reward tokens replicate the value and ownership attributes of traditional commerce rewards, enabling seamless sharing and tracking across merchants without requiring complex physical reward management infrastructure.
3Reliability
If traditional intermediary-based asset transfer is used, then transaction security and fraud prevention improve, but transfer time and cost increase
Solution Approach 1:
The patent implements a self-service transaction validation mechanism where network participants independently verify transaction validity through consensus protocols. This eliminates the need for time-consuming intermediary review processes while maintaining security, as the distributed network collectively performs the validation function that traditionally required centralized intermediaries, reducing settlement time without compromising reliability.
Solution Approach 2:
The blockchain system incorporates immediate feedback mechanisms where transaction validation results are propagated across the network in real-time. Once a transaction is validated by the consensus mechanism, the confirmation is instantly communicated to all participants, providing immediate feedback on transaction status and enabling faster settlement compared to traditional batch-processing intermediary systems.
Data Source
AI summary
Systems, methods, and apparatuses for implementing commerce rewards across tenants for commerce cloud customers utilizing blockchain technologies in conjunction with a cloud based computing environment are described herein. For example, according to one embodiment there is a system having at least a processor and a memory therein executing within a host organization and having therein: means for operating a commerce cloud platform on behalf of a plurality of merchants, in which the commerce cloud platform provides at least customer payment processing on behalf of the plurality of merchants; receiving a first purchase transaction for an unknown customer from a first one of the plurality of merchants, in which the purchase transaction indicates transaction source information; creating a new global ID for the unknown customer and associating the purchase transaction and the transaction source information with the new global ID at the commerce cloud platform; allocating commerce rewards points to the unknown customer via the new global ID based on the first purchase transaction; receiving a second purchase transaction for the unknown customer from a second one of the plurality of merchants, in which the second purchase transaction indicates transaction source information for the second purchase transaction; prompting the unknown customer associated with the second purchase transaction to confirm they are associated with the first transaction based on at least a partial matching of the transaction source information associated with the first and second purchase transactions; and inviting the unknown customer to participate in a commerce rewards program to redeem the commerce rewards points. Other related embodiments are disclosed.