Smart Safe Multi-User Fund Segmentation via Electronic Tracking
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Solution Overview
Problem
Existing safes do not effectively manage transactions for multiple users, leading to the mixing of funds and a lack of control over individual deposits, as they are typically designed for single-user operations.
Innovation Solution
A smart safe system that allows multiple users to deposit and manage funds individually by using identification information, transmitting transaction data to a financial institution for crediting accounts, while maintaining the integrity of each user's deposits without physical separation of funds, utilizing a receiving unit, storage unit, keypad, card reader, and computing system for secure and efficient processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a safe is designed for single-user operations, then it is simple to operate, but it cannot effectively manage transactions for multiple users leading to mixing of funds
Solution Approach 1:
The patent segments the transaction management system into distinct functional modules: user identification module, transaction recording module, and financial institution communication module. Each module handles specific aspects of multi-user transaction management, allowing the system to process multiple users' deposits separately while maintaining overall system integration and control.
Solution Approach 2:
The safe system acts as an intermediary between multiple users and the financial institution. It receives deposits from different users, records each user's transaction separately with identification information, transmits consolidated transaction data to the financial institution, and receives credit confirmations. This intermediary role enables multi-user support without requiring complex direct connections between each user and the bank.
2Volume of stationary object
If funds from multiple users are stored in a common safe, then storage space is optimized, but custody and control over individual deposits is lost
Solution Approach 1:
The system implements feedback mechanisms where the safe records each user's deposit information (identification, amount, timestamp) and maintains a transaction log. After transmitting transaction data to the financial institution, the system receives credit confirmations and updates its records accordingly. This feedback loop ensures that even though physical funds are mixed in the safe, the system maintains reliable tracking and control of each user's individual deposits through continuous verification and record-keeping.
3Reliability
If physical separation of funds is implemented for each user, then individual deposit integrity is maintained, but storage efficiency and access convenience are reduced
Solution Approach 1:
The patent replaces the mechanical approach of physically separating funds into different containers or locations with an information-based system. Instead of creating physical barriers between users' money, the system uses electronic recording, identification verification, and digital communication with the financial institution to maintain deposit integrity. This substitution allows all funds to remain in a single accessible safe while the information system ensures each user's deposits are tracked and controlled separately.
Data Source
AI summary
In some embodiments, a method for processing a safe transaction includes receiving at a safe a first deposit of currency from a first user. Identification information is received from the first user. The identification information identifies the first user, an amount of the first deposit, and an account of the first user with a first financial institution. Transaction information is transmitted to the first financial institution. The transaction information provides information to the first financial institution of the first deposit to facilitate the first financial institution crediting the account of the first user.