Multi-layer Transaction Tracking via Secure Channel
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Solution Overview
Problem
Existing transaction processing systems are inefficient and resource-intensive for large or sensitive financial transactions, requiring manual input and complex coordination, which can be inconvenient and time-consuming.
Innovation Solution
A multi-layer transaction tracking system that provides a dedicated secure transaction channel, using pre-authorization codes for encryption and verification, allowing users to encrypt data and process transactions securely, with automatic termination of channels to minimize security risks.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual input and complex coordination are used for specialized transactions, then security and verification can be enhanced, but processing time and resource consumption increase significantly
Solution Approach 1:
The system performs preliminary actions by establishing a dedicated secure transaction channel before the actual transaction occurs. Pre-authorization codes are generated and exchanged in advance, allowing the transaction to proceed through automated verification rather than manual coordination, thus reducing processing time while maintaining security.
Solution Approach 2:
The patent introduces an intermediary secure transaction channel that mediates between the parties. This dedicated channel handles authentication and verification automatically, eliminating the need for manual coordination while ensuring security requirements are met.
2Reliability
If a dedicated secure transaction channel is provided, then transaction security is improved, but system complexity increases
Solution Approach 1:
The system segments the transaction process into distinct phases: channel establishment, pre-authorization code exchange, data encryption, and verification. Each phase is handled by a specific component of the secure channel, making the overall complexity manageable through modular organization rather than a monolithic complex system.
Solution Approach 2:
The dedicated secure transaction channel is designed as a multi-functional component that handles multiple operations including authentication, encryption, data transmission, and verification. By consolidating these functions into a single reusable channel mechanism, the system achieves high security without proportionally increasing complexity.
3Reliability
If encryption is implemented for transaction data, then data protection is enhanced, but processing requirements and resource consumption increase
Solution Approach 1:
Encryption keys and encryption mechanisms are established as part of the preliminary channel setup rather than being applied to each individual data element during processing. This preliminary preparation reduces the computational burden during actual transaction processing while maintaining strong data protection.
Solution Approach 2:
The encryption system is designed to be self-managing through automated key exchange and verification processes. The secure channel automatically handles encryption and decryption operations without requiring external computational resources or manual intervention, reducing overall processing resource consumption.
Data Source
AI summary
Embodiments for tracking multi-layer secured transactions include systems for providing a dedicated secure transaction channel to a user and sending pre-authorization code to the user via the transaction channel. The systems allow the user to encrypt transaction data and receive the encrypted transaction data from the user via the transaction channel. The systems further unlock the encrypted data and match the sent pre-authorization code to the received pre-authorization code. The systems send a post verification notification to the user comprising the one or more transactions via the transaction channel and receive a post verification confirmation from user in response to the post verification notification.