Smart Contract Payment Chain for Cross-Border Trade Transactions

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Solution Overview

Problem

Existing systems for organizing payments in trade operations are inconvenient, inefficient, labor-intensive, time-consuming, and lack reliability and functional capabilities, particularly in cross-border transactions.

Innovation Solution

A system utilizing user interaction blocks, electronic document issuance, smart contract creation and storage, and a closed chain formation to automate and secure trade transactions, enabling secure, efficient, and simplified payment processes across borders.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If traditional payment systems are used for trade operations, then the system can process payments, but the process is time-consuming and labor-intensive

Engineering Contradiction:
Improvepayment processing efficiencyVSAvoidtime needed to conduct trade transactions
Core Design Contradiction:
ProductivityVSLoss of time

Solution Approach 1:

The system employs smart contracts that automatically execute payment transactions when predefined conditions are met, eliminating the need for manual intervention and significantly reducing processing time and labor requirements

Inventive Principle:
Principle #25Self-service

Solution Approach 2:

The patent replaces traditional mechanical payment processing systems with blockchain-based smart contracts that automatically handle transactions, reducing human involvement and accelerating payment processing

Inventive Principle:
Principle #28Mechanics substitution (Replace mechanical system)

2Reliability

If traditional payment systems are used, then payments can be processed, but security and reliability are insufficient

Engineering Contradiction:
Improvesecurity of cross-border payment transactionsVSAvoidconvenience of trade operations
Core Design Contradiction:
ReliabilityVSEase of operation

Solution Approach 1:

The system uses cryptographic hashes and digital signatures that can be verified but not altered, creating secure, one-time-use transaction records that ensure reliability without compromising operational convenience

Inventive Principle:
Principle #27Cheap short-living objects (Disposable)

Solution Approach 2:

The patent employs cryptographic transformations and hash functions that change data parameters to create secure, verifiable transaction records, enhancing security while maintaining operational ease through automated verification

Inventive Principle:
Principle #35Parameter changes

3Device complexity

If multiple manual steps are used for trade operations, then comprehensive control is possible, but the process becomes complex and time-consuming

Engineering Contradiction:
Improvenumber of steps for trade operationsVSAvoidefficiency in conducting trade operations
Core Design Contradiction:
Device complexityVSProductivity

Solution Approach 1:

The system merges multiple separate payment control steps into a single integrated smart contract execution process, where all conditions and transactions are handled simultaneously in one automated operation

Inventive Principle:
Principle #5Merging (Combining)

Solution Approach 2:

The patent implements preliminary setup of smart contracts with predefined conditions and parameters, so that when transactions occur, all necessary actions are automatically executed without requiring multiple sequential manual steps

Inventive Principle:
Principle #10Preliminary action

Data Source

PatentUS20260030624A1System for the payment of commercial transactions
Publication Date: 2026.01.29 TITOV OLEG NIKOLAEVICH
  • US20260030624A1 patent drawing

AI summary

The invention relates to systems for organizing and monitoring payments for trade operations. This system for the payment of commercial transactions includes a block for interaction with system users; a block for issuing and/or registering electronic documents (EDs) that confirm the financial obligations of the user designated in an ED to pay to the ED owner the designated amount of money in the designated currency; a block for creating, signing, encrypting, and storing smart contracts; a block for forming a closed chain of smart contracts for the purchase and sale of EDs, including at least one smart contract for the ED purchase and one smart contract for the ED sale in a currency different from the payment currency for the other smart contracts generated by the block for creating, signing, encrypting, and storing smart contracts. The technical result is manifested in increased efficiency, security and control over the implementation of payments for trade transactions.