Device-to-Device Microlending for Autonomous Budget Management
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Solution Overview
Problem
In distributed computing systems, devices often face challenges in managing budget shortfalls for periodic expenses without human intervention, necessitating efficient and automated mechanisms for securing funds to maintain essential services.
Innovation Solution
The implementation of a device-to-device microlending system within a distributed system, where user devices can request and obtain microloans from lending devices, generating digital tokens with usage restrictions to access services from service devices, enabling autonomous transaction processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a device requires payment prior to obtaining a product or service, then the service provider can ensure funds are available, but the user device cannot access essential services when experiencing budget shortfalls
Solution Approach 1:
The patent introduces a lending device as an intermediary between the user device and service device. The lending device receives loan requests from user devices, verifies credentials, generates digital tokens representing loan amounts, and provides these tokens to enable service access. This intermediary resolves the contradiction by allowing users with budget shortfalls to access services while maintaining financial control through automated credential verification and token-based fund management.
2Extent of automation
If manual financial management is used, then users can control their budgets, but automated service access during budget shortfalls cannot be achieved
Solution Approach 1:
The patent implements preliminary action by having user devices store credential information (such as credit scores, payment history, and budget parameters) in advance within their memory. When a budget shortfall occurs, the lending device automatically retrieves and verifies these pre-stored credentials to determine loan eligibility and amount, generating a digital token without requiring manual user input or time-consuming verification processes. This enables rapid automated loan approval and service access.
3Reliability
If digital tokens with usage restrictions are generated, then loan funds can be controlled for specific purposes, but transaction flexibility is reduced
Solution Approach 1:
The patent implements dynamic fund control through digital tokens that contain programmable usage restrictions. These restrictions can dynamically adapt to different service types, amounts, and conditions. The lending device can modify token parameters such as redeemable amount, expiration time, and eligible service devices based on real-time verification of user credentials and budget status. This dynamic approach maintains fund control reliability while preserving transaction adaptability through flexible, condition-based token generation.
Data Source
AI summary
A distributed system includes a lending device that is configured to receive, from a user device, a real-time request for a loan associated with a service, where the request specifies at least an identifier of the user device and a specific amount of funds; determine, based at least on the specific amount of funds for the loan and on the identifier of the user device, to provide the loan to the user device; generate a digital token associated with the loan, where the digital token specifies usage restrictions that are associated with (i) an approved amount of funds, (ii) a duration of the loan, and (iii) a payee associated with a service device; and provide, the user device and/or the service device, the digital token associated with the loan, where the digital token is redeemable by the payee associated with the service device for the approved amount of funds.