Blockchain Trust Network for Secure Payment Splitting
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Solution Overview
Problem
Existing electronic devices face challenges in ensuring the legitimacy and security of financial transactions, particularly in scenarios involving multiple parties and payment splitting, where coordinating transactions and establishing trust between devices is complex and inefficient.
Innovation Solution
A device configured to perform shared secure transactions using a processor and wireless transceiver, which detects nearby devices, establishes trust through challenges and responses, and generates transaction requests that include data verified via blockchain records, allowing for seamless coordination and execution of transactions within a network of trust.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional electronic devices perform financial transactions separately for each party, then transaction security can be maintained, but coordination complexity and time consumption increase significantly
Solution Approach 1:
The patent combines multiple separate transaction coordination processes into a single unified transaction request. Instead of each party independently initiating separate transactions and coordinating manually, the system merges all party information into one request that is processed simultaneously by the financial institution, reducing coordination complexity while maintaining security through centralized verification
Solution Approach 2:
The patent introduces a server as an intermediary between electronic devices and financial institutions. The server receives transaction requests from devices, verifies the legitimacy of transactions by analyzing device identifiers and transaction data, and coordinates the processing across multiple parties. This intermediary layer simplifies the coordination complexity by centralizing the verification and coordination functions
2Reliability
If devices establish trust through challenge-response protocols, then security is improved, but transaction processing time increases
Solution Approach 1:
The patent performs trust establishment and device verification in advance before the actual transaction processing. The server pre-verifies device identifiers, checks device legitimacy, and establishes trust relationships beforehand. This preliminary action ensures that when transactions occur, the trust framework is already in place, reducing the time needed during transaction processing while maintaining strong security
Solution Approach 2:
The patent implements a feedback mechanism where devices send challenge messages to verify their identity and legitimacy. The server responds with verification results, and devices provide additional information based on the feedback. This iterative feedback process ensures thorough trust establishment while optimizing processing time by only performing verification steps when necessary
3Measurement precision
If blockchain verification is used for transaction data, then transaction legitimacy is verified, but system complexity and computational requirements increase
Solution Approach 1:
The patent uses the server as an intermediary to handle blockchain verification operations. Instead of each electronic device independently performing complex blockchain verification, the server centralizes this function by receiving transaction data, verifying legitimacy through blockchain records, and returning verification results to devices. This reduces the computational burden on individual devices while maintaining precise verification
Solution Approach 2:
The patent extracts the complex blockchain verification functionality from the device-level processing and places it at the server level. The server handles the computationally intensive tasks of accessing blockchain records, verifying transaction legitimacy, and validating device identifiers. This extraction reduces system complexity at the device level while maintaining high verification precision
4Adaptability or versatility
If multiple external user devices are detected and trusted, then transaction coordination capability is improved, but security risks from unauthorized devices increase
Solution Approach 1:
The patent implements a challenge-response feedback mechanism where the server sends challenge messages to detected external devices. Devices must respond with valid device identifiers and verification information to prove their legitimacy. This feedback process allows the system to adapt to multiple devices while filtering out unauthorized ones through continuous verification
Solution Approach 2:
The server acts as a security intermediary between detected devices and the transaction processing system. It verifies each device's legitimacy by checking device identifiers against trusted records, validating cryptographic signatures, and ensuring devices have proper authorization before allowing them to participate in transactions. This intermediary layer enables coordination capability while mitigating security risks
Data Source
AI summary
A device may include a processor, a wireless transceiver in communication with the processor, and a non-transitory memory. The memory may store instructions that, when executed by the processor, cause the processor to perform processing. The processing may include detecting, using the wireless transceiver, at least one external device in communication range of the device. The processing may include receiving, by the wireless transceiver, at least one external device identifier from the at least one external device. The processing may include verifying the at least one external device identifier. The verifying may include locating the at least one device identifier in a blockchain record of a transaction involving the at least one external device. The processing may include performing at least one transaction requiring the verified at least one external device identifier.