NFC Mobile Contract Execution with Secure Element Signatures
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Solution Overview
Problem
NFC standards lack the capability to facilitate the exchange and signing of contracts, which often require agreement on non-monetary terms or future commitments, beyond simple monetary transactions.
Innovation Solution
A method and system for executing electronic contracts on NFC-enabled mobile devices using digital signatures with public-key cryptography, where contracting parties apply and verify electronic signatures through secure elements on their devices, with public key certificates for authentication, and transmit contracts between devices via NFC, internet, or Bluetooth.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If NFC technology is used for simple monetary transactions, then transaction speed and convenience are improved, but the capability to handle contractual agreements with non-monetary terms is insufficient
Solution Approach 1:
The patent extends NFC functionality from simple payment transactions to comprehensive contract execution. The system enables NFC devices to perform multiple functions including monetary transactions, contract exchange, digital signature application, and contract verification. This is achieved by integrating a contract execution environment within the NFC device that can handle both traditional payment operations and complex contractual agreements with multiple parties and conditions.
2Reliability
If digital signatures with public-key cryptography are applied through secure elements, then contract authenticity and integrity are improved, but device complexity increases
Solution Approach 1:
The secure element within the NFC device autonomously performs cryptographic operations including generating digital signatures, verifying contract authenticity, and managing public-key cryptography. The system enables devices to self-service their own security needs without requiring external authentication servers or complex manual key management. The secure element automatically handles encryption, signature verification, and contract validation processes.
3Adaptability or versatility
If electronic contracts are transmitted between multiple NFC-enabled devices, then contract execution versatility is improved, but transmission security requirements increase
Solution Approach 1:
The system performs preliminary security setup before contract transmission by establishing secure channels between NFC devices. Public key certificates are pre-installed and verified, and encryption parameters are prepared in advance. This preliminary configuration ensures that when contracts are transmitted between multiple parties, the security measures are already in place, preventing interception or manipulation of the contract data during transmission.
Data Source
AI summary
A method, system and/or NFC (Near field communication) enabled mobile device is provided for executing an electronic contract on NFC enabled mobile devices. A first contracting party is provided to apply an electronic signature thereof in an electronic contract provided on a first NFC enabled mobile device used by the first contracting party, the electronic signature is applied through a secure element of the first NFC enabled mobile device. The electronically signed contract is transmitted from the first NFC enabled mobile device to a second NFC enabled mobile device used by a second contracting party for providing the second contracting party to apply an electronic signature thereof in the received electronically signed contract from the first NFC enabled mobile device through a secure element in the second NFC enabled mobile device.