Cryptographic Commercial Profiles for Low-Friction Transactions
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Solution Overview
Problem
Transactions between commercial parties are insecure and inefficient due to the need for sharing transactional details, causing friction and insecurity.
Innovation Solution
A computer system utilizing cryptographic secure commercial profiles, including a profile communication engine, cryptographic identity engine, repository engine, schema engine, and user interface engine, to facilitate secure and efficient transactions between parties.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If commercial parties share transactional details to consummate transactions, then transactions can be completed, but security and efficiency deteriorate due to friction and insecurity
Solution Approach 1:
The patent introduces a profile information record as an intermediary that mediates between commercial parties. Instead of directly sharing sensitive transactional details, parties exchange cryptographically secured profile information that enables transaction completion while maintaining security. The profile information record acts as a trusted intermediary containing necessary transactional details without requiring direct exposure of sensitive data between parties.
Solution Approach 2:
The patent creates a cryptographic copy of transactional information in the form of profile information records. Rather than sharing original sensitive data, the system uses cryptographic representations (digital signatures, hashed identifiers) that replicate the necessary information for transaction completion while preserving the security of the underlying sensitive data. These cryptographic copies enable verification and transaction processing without exposing the original sensitive information.
2Ease of operation
If commercial parties share account numbers or identifying information, then payments can be processed, but friction and insecurity increase
Solution Approach 1:
The profile information record serves as an intermediary layer between commercial parties, replacing direct sharing of sensitive account numbers and identifying information. The record contains necessary payment and identification details in a secured format, allowing transactions to proceed easily without parties needing to expose their raw sensitive data. This intermediary structure eliminates friction by providing a standardized, pre-validated information exchange mechanism.
Solution Approach 2:
The system uses cryptographic copies of identifying information within the profile information record. Instead of transmitting actual account numbers and sensitive identifiers, the system uses digitally signed references and cryptographic representations that replicate the identifying function without exposing the original sensitive data. This approach maintains ease of operation by enabling straightforward information exchange while eliminating the insecurity associated with sharing raw identifying information.
Data Source
AI summary
An example computer system for facilitating transactions using commercial profiles can include: one or more processors; and non-transitory computer-readable storage media encoding instructions which, when executed by the one or more processors, causes the computer system to: create a commercial profile for a first party to a transaction; cryptographically secure the commercial profile; allow the commercial profile to be selected by a second party to initiate the transaction; facilitate the transaction between the first party and the second party using information in the commercial profile of the first party.