Social Network Transaction Matching via Hashtagged Identifiers

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Solution Overview

Problem

Current online marketplaces like Craigslist are time-consuming and burdensome for customers and item providers, lacking efficient matching mechanisms and failing to address risks such as timely or proper item delivery and payment assurance.

Innovation Solution

A computer-implemented method and system using a social network platform with a predefined hashtagged identifier to match item requestors with providers, involving message transmission, confirmation, payment processing, and notification to facilitate efficient transactions.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Loss of time

If traditional online marketplaces like Craigslist are used for item requests and offers, then item matching can occur between customers and providers, but the process becomes time-consuming and burdensome with unknown waiting periods

Engineering Contradiction:

Improvewaiting period for item responseVSAvoidtransaction processing efficiency

Core Design Contradiction:

Loss of timeVSProductivity

Solution Approach 1:

The patent introduces a social network platform as an intermediary between item requestors and providers. The platform captures, standardizes, and distributes item requests and offers, enabling automated matching and notification. This mediator role eliminates the need for direct, time-consuming communication between parties and accelerates the matching process significantly.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The system performs preliminary actions by pre-capturing and storing item requests and offers in a structured format on the social network platform. When a request or offer is posted, the system immediately processes and distributes it to relevant parties, rather than waiting for manual responses. This preliminary structuring and distribution mechanism reduces waiting periods and improves transaction efficiency.

Inventive Principle:

Principle #10Preliminary action

2Reliability

If customers and item providers communicate directly through traditional websites, then negotiation details can be discussed, but the process fails to address risks of timely or proper item delivery and payment assurance

Engineering Contradiction:

Improvepayment assurance and risk mitigationVSAvoidtransaction system structure

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The patent merges multiple transaction functions into a single integrated social network platform system. The platform combines item posting, matching, notification, communication, and payment processing into one unified system. This integration ensures that all transactions occur within a controlled environment that can enforce payment terms and monitor delivery, thereby reducing risks while managing complexity centrally.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The system implements feedback mechanisms where the social network platform continuously monitors transaction status, from request posting to item delivery and payment confirmation. This feedback loop enables the system to track whether items are delivered timely and properly, and whether payments are received, allowing for risk mitigation through real-time monitoring and intervention when necessary.

Inventive Principle:

Principle #23Feedback

3Speed

If social network platforms are used for item requests with hashtags, then instant connection and message visibility are achieved, but structured matching and payment processing capabilities are lacking

Engineering Contradiction:

Improvemessage transmission speedVSAvoidtransaction facilitation simplicity

Core Design Contradiction:

SpeedVSEase of operation

Solution Approach 1:

The patent makes the social network platform universal by enabling it to perform multiple functions: capturing casual item requests with hashtags, standardizing them into structured formats, matching them with relevant offers, facilitating communication, and processing payments. This multi-functionality allows the platform to maintain the speed and accessibility of social media while adding the structured capabilities needed for complete transaction facilitation.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS10432570B2Systems and methods for transaction messaging using social networking platforms

Publication Date: 2019.10.01 MASTERCARD INT INC

AI summary

A computer-implemented method for processing transaction messages using a social network platform between a requestor and a responder is provided. The method includes receiving a social network message including an item request and a predefined hashtagged identifier. The method further includes transmitting the social network message to one or more registered providers. The method also includes receiving a confirmation from a first registered provider of the one or more registered providers that the first registered provider will provide the requested item. The method further includes transmitting payment information for the item request to a payment processor. The method also includes transmitting a notification to the first registered provider to provide the requested item.