Stored-Value Crypto Payment Card With QR and Biometric Verification
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Solution Overview
Problem
Current transaction methods lack anonymity and convenience, especially for remote purchases, and cash transactions are risky and inconvenient.
Innovation Solution
A digital+bitcoin (d+b) stored value transaction instrument system that uses QR codes and biometric authentication for secure, anonymous cryptocurrency transactions, enabling purchases with QR code exchanges and biometric confirmation.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If cash-based transactions are used to maintain anonymity, then transaction privacy is preserved, but security risk increases due to the need to carry cash and remote transactions become impossible
Solution Approach 1:
The patent introduces a digital wallet as an intermediary between cash and traditional payment systems. The wallet stores cryptocurrency values and enables anonymous transactions through digital interfaces, eliminating the need to physically carry cash while maintaining transaction privacy through cryptographic protocols and blockchain technology.
2Ease of operation
If traditional payment instruments are used for remote transactions, then convenience for online purchases is improved, but transaction anonymity is lost
Solution Approach 1:
The patent replaces traditional mechanical payment systems (credit cards, checks) with a cryptocurrency-based digital wallet system. This substitution enables remote transactions through digital interfaces while maintaining anonymity through cryptographic protocols, blockchain technology, and the ability to transact without revealing personal identifying information.
3Loss of information
If cryptocurrency transactions are used to maintain anonymity, then transaction privacy is preserved, but transaction verification and fraud prevention become more difficult
Solution Approach 1:
The patent implements biometric authentication (fingerprint, facial recognition) as a feedback mechanism to verify user identity and intent before executing transactions. This creates a security layer that prevents unauthorized transactions while maintaining the anonymous nature of cryptocurrency transactions, as the biometric verification occurs locally on the user's device without revealing personal information to external parties.
Data Source
AI summary
A method for transferring goods from a digital+bitcoin (d+b) stored value transaction instrument-supporting vendor to a user device, or a device user, such as a d+b stored value transaction instrument is provided. The device may be registered with a cryptocurrency provider and a value allocation. The method may include receiving a user request configured for a cryptocurrency-based transaction; transmitting a consent to transact the cryptocurrency-based transaction and, in response to the transmitting, receiving, from the user device, a Quick Response (QR) code. The code specifies, at least: a) an amount of cryptocurrency; and b)a product or a service to be exchanged for the amount of cryptocurrency. The method may also receive a biometric characteristic that confirms the transaction. The method may then receive the amount of cryptocurrency via the d+b stored value transaction instrument, and transmit a confirmation of receipt of the cryptocurrency.