Remote Commands Through Trusted Device Networks for Payment Coordination
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Solution Overview
Problem
Ensuring the legitimacy and user preference in electronic financial transactions, particularly in shared transactions involving multiple parties, is a concern as existing systems often require separate and coordinated transactions, which can be cumbersome and prone to errors.
Innovation Solution
A network of trust is established among user devices using wireless communication to verify and coordinate transactions, enabling seamless sharing of transaction responsibilities and authentication through blockchain verification, allowing devices to form a mesh network for command propagation and secure financial transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If separate and coordinated transactions are used for shared payments, then transaction legitimacy can be ensured, but the operation complexity and time consumption increase significantly
Solution Approach 1:
The patent segments the transaction process into distinct phases: initial transaction initiation by one party, and subsequent coordination with other parties. Each party's authentication and payment confirmation are handled as separate but linked operations, allowing the system to maintain security verification for each segment while enabling automated coordination that reduces overall operational complexity.
Solution Approach 2:
The patent introduces an intermediary transaction coordination system that manages the coordination between multiple parties. This intermediary automatically handles the communication, authentication verification, and payment allocation among parties, reducing the operational burden on individual users while maintaining rigorous legitimacy checks through the coordinated process.
2Reliability
If separate and coordinated transactions are used for shared payments, then transaction legitimacy can be ensured, but the time consumption increases
Solution Approach 1:
The patent implements preliminary action by having the initiating party complete the transaction setup and authentication in advance. The transaction details, including the list of other parties and payment allocations, are pre-configured and validated before coordination begins. This preliminary preparation enables the subsequent coordination with other parties to proceed more efficiently, reducing overall time consumption while maintaining legitimacy verification.
Solution Approach 2:
The patent employs feedback mechanisms where each party's authentication status and payment confirmation are immediately communicated back to the coordination system and other parties. This real-time feedback allows the system to quickly identify and resolve any authentication issues or payment discrepancies, preventing delays and enabling faster completion of the coordinated transaction process.
3Manufacturing precision
If manual coordination is used for bill splitting among multiple parties, then payment accuracy can be maintained, but the productivity and efficiency decrease
Solution Approach 1:
The patent enables self-service by allowing the initiating party to automatically set up the coordinated transaction with pre-configured payment allocations for each party. The system automatically manages the coordination process, authentication verification, and payment execution without requiring manual intervention from each party, thereby maintaining payment accuracy through automated calculations while significantly improving transaction efficiency and productivity.
Solution Approach 2:
The patent utilizes parameter changes by dynamically adjusting payment allocations and authentication requirements based on the specific transaction context and party configurations. The system can modify payment amounts, allocation ratios, and verification levels automatically based on pre-set parameters and real-time transaction data, ensuring payment accuracy while streamlining the coordination process to enhance overall efficiency.
Data Source
AI summary
A device may include a processor, a wireless transceiver in communication with the processor, and a non-transitory memory. The memory may store instructions that, when executed by the processor, cause the processor to perform processing. The processing may include receiving a command configured to be executed by an external user device. The external user device and the user device may be members of a network of trust. The processing may include detecting, by the wireless transceiver, a plurality of member devices of the network of trust in communication range of the device. The processing may include sending, by the wireless transceiver, the command to each of the plurality of member devices.