Distributed Ledger Casino Transaction System
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Solution Overview
Problem
Current casino systems lack efficient methods for managing transactions between customers and gaming houses without using cash, while ensuring transparency and trust through immutable records.
Innovation Solution
A distributed ledger-based system using crypto-tokens and private databases to facilitate the sale and redemption of chips, with unique identifiers and private keys for administrator, customer, and dealer accounts, enabling token purchase, exchange, and redemption processes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a distributed ledger system using crypto-tokens is implemented to manage casino transactions, then transparency and trust are improved through immutable records, but device complexity increases due to the need for multiple wallets, private keys, and ledger integration
Solution Approach 1:
The patent introduces a casino management system as an intermediary that mediates between the distributed ledger and casino operations. This intermediary layer handles the complexity of wallet management, private key storage, and transaction coordination, while presenting a simplified interface to casino staff and customers. The management system acts as a bridge that translates traditional casino transaction concepts into blockchain operations.
Solution Approach 2:
The system implements comprehensive feedback mechanisms where the distributed ledger provides immutable transaction records that can be verified by multiple parties. The system continuously monitors and records transactions on the ledger, providing real-time feedback on token balances, transaction status, and audit trails. This feedback loop ensures transparency while allowing the system to automatically adjust and respond to transaction states.
2Productivity
If cashless transactions using tokens are implemented, then operational efficiency is improved by eliminating cash handling, but ease of operation deteriorates due to the learning curve associated with digital wallet and token systems
Solution Approach 1:
The patent creates digital copies of traditional casino chips in the form of tokens on the distributed ledger. These digital tokens replicate the functionality and value representation of physical chips, allowing transactions to occur in the digital domain while maintaining the familiar chip-based gaming experience. The system copies the essence of chip transactions into the digital realm, eliminating the need for physical cash handling while preserving the operational workflow.
Solution Approach 2:
The system replaces the mechanical process of physical cash handling, chip distribution, and counting with automated digital token transfers on the blockchain. The manual operations of cashiers and dealers are substituted with automated smart contract executions and digital ledger updates. This substitution eliminates the physical manipulation of currency while streamlining the transaction process through automated verification and recording.
3Reliability
If multiple account types with unique identifiers and private keys are maintained for administrators, customers, and dealers, then security is improved through cryptographic authentication, but device complexity increases due to key management requirements
Solution Approach 1:
The patent segments the system into distinct account types with specific roles and permissions: administrator wallets for house operations, customer wallets for player funds, and dealer wallets for table operations. Each segment has its own set of private keys and access controls tailored to its function. This segmentation allows for targeted security measures and simplified key management within each role, rather than managing all keys centrally.
Solution Approach 2:
The system implements self-service mechanisms where each wallet and account automatically manages its own private keys and security credentials. The distributed ledger infrastructure provides automatic key protection, transaction signing, and authentication without requiring manual intervention. The system autonomously handles key generation, storage, and rotation, reducing the operational burden of key management while maintaining high security standards.
Data Source
AI summary
The technology teaches a distributed gaming system, comprising a server-side node configured to administer transactions for a gambling casino, selling and redeeming chips using a private database, and recording transactions on a distributed ledger using crypto-tokens for a house account, with a token vault wallet that has a unique identifier and private key to track transactions. Customer wallets, intermediary accounts and one-way redemption wallets track transactions on the distributed ledger. Client-side nodes accept token purchase messages and transfer tokens in the ledger and record in the database, accept token-to-chip messages from an intermediary account and transfer tokens on the ledger to the redemption wallet to extinguish and record the exchange, accept chip-to-token messages from an intermediary account and transfer tokens from the vault to the customer account and record the exchange, and accept token-to-fiat messages from an intermediary account and transfer tokens to extinguish, and record the exchange.