Multichain Digital Asset Wallet with Encrypted Data Segmentation
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Solution Overview
Problem
Traditional digital asset management systems are fragmented and lack robust security features, leading to inefficiencies and vulnerabilities in managing and transacting digital assets across multiple blockchain networks and web 2.0 platforms, particularly in securing cryptocurrencies and user data.
Innovation Solution
A multichain blockchain-based digital asset management system with integrated payment gateway and social media integration, utilizing advanced cryptographic protocols and a digital wallet service that processes and stores cryptocurrencies and social media data securely, enabling users to manage and transact assets efficiently while maintaining privacy and control through verifiable and encrypted data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional digital asset management systems are used, then users can store and transact digital assets, but the systems are fragmented and lack robust security features leading to loss or theft of digital assets
Solution Approach 1:
The patent merges multiple fragmented digital asset management functions into a single integrated system that handles cryptocurrencies, NFTs, and web2.0 assets across multiple blockchain networks through one unified interface, eliminating the need for separate wallets and management tools for each asset type
Solution Approach 2:
The system provides universal functionality to manage diverse digital assets including cryptocurrencies, NFTs, and web2.0 data across multiple blockchain networks and platforms, enabling users to store, transact, and access all asset types through a single multichain wallet service
2Ease of operation
If users share their data with service providers, then service providers can provide better services, but users lose control and privacy of their data
Solution Approach 1:
The patent introduces a decentralized data sharing intermediary where users grant selective access rights to service providers through smart contracts, allowing providers to access specific data portions needed for services while users retain ownership and control, preventing complete data loss
Solution Approach 2:
The system segments user data into distinct portions with different access levels, enabling users to share only necessary data segments with service providers while maintaining privacy over sensitive information, thus balancing service accessibility with data privacy
3Productivity
If users monetize their data, then users can earn rewards, but users may compromise security and privacy for data sharing
Solution Approach 1:
The system implements feedback mechanisms where users receive real-time notifications and control over their data sharing activities, allowing them to monitor, audit, and revoke access rights, ensuring security and privacy are maintained while enabling data monetization
Solution Approach 2:
The patent enables dynamic control of data access rights through programmable smart contracts that can be adjusted, expanded, or revoked based on changing conditions, allowing users to flexibly manage their data monetization while maintaining security through conditional access controls
Data Source
AI summary
The present invention is provides a system or a computer implemented user digital assets management method for managing digital assets of a user while maintaining privacy and security. The digital assets are converted into anonymous data having a verifiable portion and an encrypted portion. The verifiable portion contains non identifiable information of the user and the encrypted portion contains identifiable information of the user. The identifiable information includes user personal data. The user has control on the anonymous data and grants access to the service provider accordingly.