Multi-Party Authentication System for Transaction Security
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Solution Overview
Problem
Existing online transaction security systems are vulnerable to identity theft, as they rely on single-party authentication, which can lead to significant losses if account credentials are compromised, and do not adequately account for multiple decision-makers in transactions.
Innovation Solution
A multi-party authentication system that requires additional authentication from designated assistance users beyond the primary user's credentials, using predetermined rules and thresholds to determine the necessity of additional approvals for transactions, and communicates via various methods such as text messages or instant messages.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If single-party authentication is used, then ease of operation is improved, but reliability deteriorates due to vulnerability to identity theft
Solution Approach 1:
The authentication process is segmented into multiple independent authentication instances, each corresponding to a different user. The system divides the single authentication decision into multiple separate authentication requests sent to different users, requiring collective approval rather than relying on a single authentication point.
2Reliability
If multi-party authentication is implemented, then reliability is improved, but device complexity increases due to multiple authentication requests and coordination
Solution Approach 1:
The authentication system is designed to handle multiple authentication types universally through a single platform. It can send authentication requests via different communication channels (SMS, email, push notifications) and support various authentication methods, making the system multi-functional while maintaining a unified architecture that manages complexity.
3Reliability
If authentication requests are sent to multiple users, then reliability is improved, but loss of time increases due to waiting for multiple approvals
Solution Approach 1:
The system implements periodic action by sending authentication requests to multiple users in sequence or parallel and setting time thresholds for responses. If users do not respond within the threshold period, the system can proceed with default actions or retry the authentication process, preventing indefinite waiting while maintaining security through multiple authentication points.
Data Source
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AI summary
A system is provided for facilitating multi-party authentication. During operation, the system receives, via a communication module, an operation request from a primary user. The system then sends an authentication request to the authentication assistance user and receives a response from the authentication assistance user. Subsequently, the system allows or denies the operation request based on the response received from the authentication assistance user.