Secured Token Wallet for Offline Transfer Restrictions
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Solution Overview
Problem
Existing digital currency systems face complexities in managing holding limits, especially in offline scenarios, leading to security vulnerabilities and increased management efforts.
Innovation Solution
A secured monetary value token wallet that stores and redeems tokens with usage limitations, ensuring security by restricting token usage to selected wallets and redemption targets, and optionally encrypting tokens with external keys, thereby managing static or high holding limits more easily.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If separate online and offline subsystems are used for digital currency systems, then offline functionality is enabled, but system complexity increases
Solution Approach 1:
The patent merges online and offline subsystems into a unified digital currency system where monetary value tokens can operate in both modes. The token design allows offline transactions to function independently while maintaining compatibility with online verification, eliminating the need for completely separate subsystems and reducing overall system complexity.
Solution Approach 2:
The monetary value token is designed with multi-functionality, serving both offline transaction purposes and online verification purposes. The token contains sufficient information to enable offline spending without online connectivity, while also being redeemable and verifiable in online systems, thus one component serves multiple functions across different operational modes.
2Reliability
If dynamic holding limits are implemented in wallets, then security is improved, but management effort increases
Solution Approach 1:
The wallet system automatically manages holding limits through programmatic enforcement embedded in the wallet software. The system self-regulates by automatically checking and enforcing limit rules during transactions without requiring manual intervention or complex administrative management, thus maintaining security while reducing management effort.
Solution Approach 2:
The system implements automatic feedback mechanisms where the wallet continuously monitors token holdings and transaction attempts against defined holding limits. When limits are approached or exceeded, the system automatically provides feedback to prevent further transactions, ensuring security constraints are maintained without requiring active management.
3Reliability
If conventional holding limits are enforced, then wallet security is improved, but flexibility in token usage is reduced
Solution Approach 1:
The patent segments holding limits into different categories: strict holding limits for security-sensitive scenarios and usage limits for controlled spending scenarios. This segmentation allows different limit types to apply to different token types or transaction contexts, maintaining security where needed while preserving flexibility for appropriate uses.
Solution Approach 2:
The system implements dynamic limit adjustment capabilities where holding limits and usage limits can be modified based on transaction context, token type, and user preferences. Limits are not static but can adapt to different scenarios, allowing the system to maintain security constraints while providing flexibility for legitimate token usage variations.
Data Source
Figure 1~2
AI summary
Secured monetary value token wallet (1) for a monetary value token transaction system, wherein the secured monetary token value wallet (1) is adapted to receive (101) a monetary value token (21; 21a) from a user wallet (2; 2a) of the monetary value token transaction system in an offline transaction and to store the monetary value token (21; 21a); wherein the secured monetary token value wallet (1) is adapted to store transaction information for the offline transaction in a transaction information history (17); and wherein the secured monetary token value wallet (1) is adapted to redeem (102) the received monetary value token. The secured monetary value token wallet (1) is limited to using the received monetary value token by either redeeming the received monetary value token or sending the received monetary value token (21; 21a) or a monetary token (21b) derived therefrom to only selected user wallets (2; 2b), wherein the selected user wallets (2; 2b) are stored in the transaction information history (17).