Dynamic Event Authentication System with Temporary Fund Holding
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Solution Overview
Problem
Conventional event processing systems fail to ensure privacy and security for transactions between two private users, lacking mechanisms to protect payment information and maintain anonymity.
Innovation Solution
A system that generates digital identities or profiles for users involved in an event, transfers funds to a temporary account, and allows users to authenticate and authorize transactions using these profiles, with options for anonymization and secure fund transfer between accounts based on predefined conditions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional event processing systems are used for transactions between private users, then the system is simple and easy to operate, but privacy and security of users are not protected and payment information is exposed
Solution Approach 1:
The patent introduces a computing platform as an intermediary between private users for event processing. This platform generates temporary digital identities and profiles, holds funds in temporary accounts, and mediates the authentication and authorization processes. The intermediary protects user privacy by not exposing personal information while ensuring secure transaction processing, thus resolving the contradiction between security protection and system simplicity.
Solution Approach 2:
The system segments user identification into multiple layers: permanent user accounts, temporary digital identities, and anonymized profiles. Each layer serves a specific purpose - the permanent account for fund storage, the temporary identity for authentication, and the anonymized profile for transaction processing. This segmentation allows security and privacy protection without requiring complete system redesign, balancing reliability and complexity.
2Reliability
If digital identities and profiles are generated for each user, then privacy and anonymity are protected, but the processing time and computational resources increase
Solution Approach 1:
The system performs preliminary actions by generating temporary digital identities and profiles before the actual event processing occurs. These temporary identifiers are created in advance and used throughout the transaction process, allowing privacy protection to be established upfront rather than during critical processing moments. This reduces processing time during the actual event while maintaining privacy guarantees.
Solution Approach 2:
The patent employs temporary, disposable digital identities and profiles that are created for each event and then deleted afterward. These short-living digital objects provide the necessary privacy protection for each transaction without requiring long-term storage or complex management systems. The ephemeral nature of these identifiers reduces computational overhead and processing time while maintaining security.
3Reliability
If funds are held in a temporary account until authorization, then transaction security is improved, but the transaction processing duration increases
Solution Approach 1:
The system dynamically manages fund holding periods based on transaction authorization status. Funds are held in temporary accounts during the authentication and authorization phases, but the system automatically releases or transfers funds promptly once authorization is confirmed. This dynamic approach ensures security during critical periods while minimizing the overall duration of fund holding, balancing transaction security with processing efficiency.
Data Source
AI summary
Systems for dynamic authentication and event processing are provided. In some examples, a system may receive a request to process an event. In response to receiving the request to process the event, the system may transfer an amount of funds associated with the event from a first account of a first user who is a party to the event to a second account. The system may generate a profile for each user who is a party to the event. In some examples, the information in a profile may be anonymized. Users who are parties to the event may use the profiles to authenticate and authorize or cancel the event. In some examples, a notification may be transmitted to the system that the event is authorized for processing. The amount of funds may be transferred from the second account to a third account associated with a second user who is a party to the event. If the event is cancelled, the funds may be transferred from the second, temporary account to the first account. In some examples, after the event has been processed or cancelled, the profiles may be deleted.