Group Account Server Virtual Ledger for Real-Time Fund Sharing
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Solution Overview
Problem
Current methods for managing group funds through bank accounts are cumbersome, requiring complex procedures, limiting account types, and inconvenient for sharing transaction histories among group members.
Innovation Solution
A group account service providing server that converts a private host account into a group account in real time, generates a virtual ledger to share transaction records, and allows participants to be easily registered and managed through a terminal, enabling real-time transaction history access and transparent membership fee management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a bank account is opened under the name of a group, then the group can manage funds collectively, but the procedure for opening the account becomes strict and complicated requiring bylaws or articles of incorporation
Solution Approach 1:
The patent introduces a host account as an intermediary mechanism. Instead of requiring formal group registration, a host's existing account serves as the mediator for group fund management. The host account links group members and enables collective fund management through a simplified process that avoids complex legal procedures while maintaining group financial capabilities
Solution Approach 2:
The patent creates a virtual ledger that copies and mirrors the transaction history of the host account. This virtual ledger provides group members with transparent access to transaction records without requiring formal group account structures, enabling fund management transparency through a simplified copying mechanism rather than complex organizational procedures
2Ease of manufacture
If a bank account is opened under the host's real name, then the account opening process is simplified, but the host is restricted from opening additional accounts and transaction amounts are limited
Solution Approach 1:
The patent makes the host account universal by enabling it to serve dual purposes: personal transactions and group fund management. Through the introduction of group member links and virtual ledgers, the host account gains multi-functionality that allows it to accommodate both individual use and collective group operations without requiring separate accounts, thereby removing transaction limits and enabling versatile fund management
3Ease of manufacture
If a bank account is opened under the host's real name, then account opening is easier, but participants cannot check the transaction history and management becomes unclear
Solution Approach 1:
The patent creates a virtual ledger that copies the transaction history from the host account. This virtual ledger is accessible to all group members, providing transparent view of all transactions. The copying mechanism ensures that participants can independently verify transaction records without requiring direct access to the host's private account information, thereby eliminating information asymmetry while maintaining account opening simplicity
Data Source
AI summary
According to one aspect of the present invention, a group account service providing server capable of converting a private account into a group account in real time through a terminal of the host of a comprises: an account management unit configured to convert a first account into a group account when a group account conversion request for the first account of a host of a group is generated; a transaction ledger management unit configured to record change information in a transaction ledger for the group account when the change information including at least one of a transaction occurrence event and an information occurrence event is generated for the group account; a virtual ledger management unit configured to generate a virtual ledger to be mapped to the transaction ledger when the first account is changed to the group account.