Electronic Transaction System with Encrypted Bid Data

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Solution Overview

Problem

In electronic transaction systems, especially those using blockchain for electricity trading, the registration of ordering information in plaintext allows participants to manipulate transaction data, leading to potential fraud by creating false demand or supply, compromising the legitimacy of transactions.

Innovation Solution

An electronic transaction system that encrypts bid data with a public key and decrypts it using a private key for transaction execution, ensuring that only the transaction server can access the bid prices, maintaining secrecy and preventing fraudulent activities.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Loss of information

If bid data is registered in plaintext on the electronic bulletin board, then transparency and visibility of order status are improved, but security and prevention of fraudulent activities deteriorate

Engineering Contradiction:

Improvevisibility of order statusVSAvoidfraudulent activities

Core Design Contradiction:

Loss of informationVSObject-affected harmful factors

Solution Approach 1:

The patent introduces an intermediary encryption mechanism between the bid data and the electronic bulletin board. Instead of directly registering plaintext bid data, the system encrypts the bid data before registration. This intermediary step protects the confidentiality of bid prices while maintaining the transparency of order status visibility, thereby preventing fraudulent activities without sacrificing information visibility.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Object-affected harmful factors

If bid data is encrypted before registration, then security and prevention of fraud are improved, but accessibility and ease of verification deteriorate

Engineering Contradiction:

Improvefraud preventionVSAvoidverification of transaction legitimacy

Core Design Contradiction:

Object-affected harmful factorsVSEase of operation

Solution Approach 1:

The patent implements a feedback mechanism where the transaction server decrypts the encrypted bid data after registration and provides feedback on the decryption results. This allows verification of transaction legitimacy through the feedback loop, maintaining ease of operation while ensuring security. The encrypted bid data can be verified through the decryption feedback process without exposing the actual bid prices.

Inventive Principle:

Principle #23Feedback

3Productivity

If all participants can access bid data, then market efficiency and transaction speed are improved, but legitimacy and fairness of transactions deteriorate

Engineering Contradiction:

Improvetransaction speedVSAvoidtransaction legitimacy

Core Design Contradiction:

ProductivityVSReliability

Solution Approach 1:

The patent applies local quality by differentiating access rights for different participants. The transaction server has the capability to decrypt and access bid data for processing transactions, while other participants cannot access the actual bid prices. This localized access control maintains transaction speed through efficient server-side processing while ensuring transaction legitimacy and fairness by preventing unauthorized access to sensitive bid information.

Inventive Principle:

Principle #3Local quality

Data Source

PatentUS12079867B2Electronic transaction system, transaction server, verification server, method of transaction, and program

Publication Date: 2024.09.03 NEC CORP

AI summary

An electronic transaction system includes a plurality of administration servers, a terminal, a transaction server. The plurality of administration servers provides an electronic bulletin board. The terminal writes bid data including an encrypted price to the electronic bulletin board. The transaction server gets the written bid data, decrypts the encrypted price, executes transaction using the decrypted price by Zaraba scheme.