Machine Learning and Blockchain for Online Transaction Acceleration
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Solution Overview
Problem
Modern transacting systems face inefficiencies due to information asymmetries and lack of transparency, leading to increased resources and time required for transactions, resulting in higher costs and longer timelines.
Innovation Solution
A machine learning-based system utilizing an ensemble of APIs to source and process transaction-relevant data, coupled with a distributed ledger system, to infer transaction success scores and facilitate transactions through cryptographic tokens, thereby improving data accuracy and transparency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional transacting systems are used, then transaction processing can be completed, but information asymmetries and lack of transparency increase resources and time required for transactions
Solution Approach 1:
The patent introduces a blockchain-based intermediary layer that acts as a trusted mediator between transacting parties. This distributed ledger system provides transparent, immutable record-keeping that eliminates information asymmetries without requiring centralized intermediaries, thereby reducing transaction time and resource requirements while maintaining security and trust.
Solution Approach 2:
The patent replaces traditional mechanical verification processes (manual due diligence, paper-based documentation, centralized clearinghouses) with automated cryptographic verification and smart contract execution. This substitution eliminates manual processing steps, reduces transaction timelines, and provides transparent, tamper-proof record-keeping across the distributed network.
2Reliability
If traditional transacting systems are used, then transactions can be completed, but lack of transparency increases resources required for transactions
Solution Approach 1:
The blockchain system provides continuous feedback through immutable ledger records that all participants can verify. Each transaction is cryptographically signed and permanently recorded, providing real-time transparency and trust verification. This eliminates the need for repeated verification processes and reduces resource consumption while ensuring data accuracy.
Solution Approach 2:
The patent creates cryptographic copies of transaction data distributed across multiple nodes in the network. These immutable copies provide redundant verification without requiring centralized storage or repeated manual verification, reducing resource requirements while enhancing reliability through distributed consensus.
3Productivity
If more transparency and data access are provided to accelerate transactions, then transaction speed improves, but system complexity increases
Solution Approach 1:
The patent segments the transacting system into distinct functional layers: the blockchain ledger layer for transparent record-keeping, the smart contract layer for automated execution, and the user interface layer for interaction. This segmentation allows each layer to operate independently with standardized interfaces, reducing overall system complexity while enabling rapid transaction processing through specialized optimization of each component.
Data Source
AI summary
A system and method for implementing an online service for accelerating an online transaction includes implementing an intelligent subscriber interface; automatically creating API calls based on the plurality of distinct portions of data inputs; composing corpora of subscriber data based on a return of subscriber data by each respective API; implementing a machine learning-based classifier that: infers a first classification label for a first subset of data; and infers a second classification label for a second subset of data; computing a transaction success score that indicates a likelihood of successfully completing a prospective transaction between the subscriber and prospective transacting parties; and presenting one or more distinct product routes based on the transaction success score; creating, via a distributed ledger system, a distributed ledger record of details of the prospective transaction and cryptographic token based on a mutual engagement of the subscriber and a prospective transacting party.