Digital Currency Wagering Intermediary Security Subsystem

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Solution Overview

Problem

Current wagering and gaming systems are limited in accepting digital currencies, as they typically require locally issued governmental currency, and there is a lack of technology to ensure compatibility and security for digital currency transactions within these systems.

Innovation Solution

A system that facilitates the use of digital currencies in wagering systems by integrating a player wallet with management servers, utilizing a security subsystem to screen and manage digital currency transactions, ensuring secure communication and compatibility with existing gaming infrastructure.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If digital currency integration is added to wagering systems, then currency compatibility is improved, but system complexity increases

Engineering Contradiction:
Improvecurrency compatibilityVSAvoidsystem complexity
Core Design Contradiction:
Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent introduces a currency conversion intermediary system that acts as a mediator between digital currency wallets and traditional wagering systems. This intermediary handles the conversion and reconciliation of digital currency transactions with traditional currency accounting, allowing the wagering system to accept multiple currency types without requiring fundamental architectural changes. The intermediary layer absorbs the complexity of digital currency integration while presenting a standardized interface to the core wagering system.

Inventive Principle:
Principle #24Intermediary (Mediator)

2Reliability

If security subsystems are implemented for digital currency transactions, then transaction security is improved, but communication complexity increases

Engineering Contradiction:
Improvetransaction securityVSAvoidcommunication complexity
Core Design Contradiction:
ReliabilityVSDevice complexity

Solution Approach 1:

The security subsystem is divided into distinct functional segments: a first security subsystem that screens incoming traffic from the public network, and a second security subsystem that permits only outbound communication with the public network. This segmentation isolates different security functions into separate modules, each handling specific aspects of transaction security. The first subsystem handles inbound validation and authentication, while the second subsystem manages outbound transaction initiation and confirmation, reducing the communication complexity within each segment while maintaining comprehensive security.

Inventive Principle:
Principle #1Segmentation

3Reliability

If secure connections are established between management subsystem and management servers, then data security is improved, but network complexity increases

Engineering Contradiction:
Improvedata securityVSAvoidnetwork complexity
Core Design Contradiction:
ReliabilityVSDevice complexity

Solution Approach 1:

The patent extracts the secure communication functionality into a dedicated secure connection subsystem that handles all encrypted data transmission between the management subsystem and management servers. This extracted secure communication layer manages cryptographic key exchange, certificate validation, and encrypted data channels separately from the core business logic. By taking out the security infrastructure as a independent component, the system achieves high data security while reducing network complexity in the main transaction flow, as security operations are handled by the specialized extracted subsystem.

Inventive Principle:
Principle #2Taking out (Extraction)

Data Source

PatentUS20240362625A1System and method for secure transfer of digital currencies
Publication Date: 2024.10.31 ORBBIT PTY LTD
  • US20240362625A1 patent drawing
  • US20240362625A1 patent drawing
  • US20240362625A1 patent drawing

AI summary

A system is configured to facilitate use of digital currencies for wagering. The system includes one or more digital wallets and a management subsystem. The management subsystem is configured to receive a request to deposit digital currency from a player wallet in one of the one or more digital wallets, generate a deposit address in response to the request and transmit the deposit address, query the one or the one or more digital wallets for incoming deposits, determine that one of the incoming deposits is associated with the deposit address, and inform, via a secure connection, one or more management servers for a wagering system that a deposit has been received from a user associated with the deposit address and a value corresponding to the digital currency deposited. Related methods are also provided.