Timed Transactional QR Receipts Minted as Blockchain NFTs
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Solution Overview
Problem
Traditional payment receipts, whether paper or digital, are prone to damage, loss, and inefficiency, and lack secure, traceable record-keeping solutions.
Innovation Solution
A transactional QR code generator at the point of purchase creates a time-limited QR code with a tokenized URL that, when scanned by a mobile device, converts the transaction details into a Non-Fungible Token (NFT) stored on a blockchain, providing a secure and traceable digital record.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If paper receipts are used for payment proof, then transaction documentation is provided, but the receipts are prone to fading, tearing, loss, fire, and water damage
Solution Approach 1:
The patent creates a digital copy of the paper receipt in the form of an NFT (Non-Fungible Token) that is stored on a blockchain. This digital replica contains all the essential transaction information and serves as a permanent, tamper-proof record that eliminates the physical vulnerabilities of paper receipts while maintaining the proof of purchase function.
Solution Approach 2:
The patent replaces the mechanical/physical paper receipt system with a digital blockchain-based system. Instead of relying on physical paper that can deteriorate, the solution uses cryptographic tokens stored on a distributed ledger, substituting the physical medium with a digital one that offers superior durability and security.
2Loss of substance
If digital receipts via email are used, then paper waste is reduced, but the receipts can be accidentally deleted, lost in junk folders, or fail to provide secure record-keeping
Solution Approach 1:
The patent eliminates the need for disposable paper receipts by creating a permanent digital record. The NFT-based receipt system provides a reusable, persistent digital document that does not get deleted or lost like email attachments, while maintaining environmental benefits by eliminating paper consumption.
Solution Approach 2:
The patent fundamentally changes the parameters of digital receipt storage by moving from temporary email-based storage to permanent blockchain-based storage. This parameter change transforms the receipt from a transient digital file that can be deleted to an immutable record that cannot be altered or lost, thereby securing the digital record-keeping system.
3Loss of information
If traditional receipt systems are used, then transaction proof is provided, but fraud and tampering cannot be detected
Solution Approach 1:
The patent implements a feedback mechanism through the blockchain network that continuously verifies and validates the receipt information. The distributed ledger provides real-time confirmation of transaction authenticity, allowing any party to verify the receipt's validity by checking the blockchain, thereby creating a self-verifying system that prevents fraud.
Solution Approach 2:
The patent performs preliminary action by embedding the transaction data into an NFT and storing it on the blockchain at the time of purchase. This upfront cryptographic sealing of the transaction information prevents future tampering, as any alteration would be immediately detectable through blockchain verification, thereby establishing authenticity before any potential fraud could occur.
4Productivity
If paper receipts are printed at point of purchase, then immediate proof of purchase is provided, but printer paper availability and printing time create delays
Solution Approach 1:
The patent replaces the mechanical printing process with a digital generation and delivery system. Instead of physically printing receipts that require paper, ink, and mechanical operation, the system generates digital NFT receipts that can be instantly delivered to the customer's mobile device, eliminating the physical constraints of printing while maintaining immediate proof of purchase.
Data Source
AI summary
A method for minting Non-Fungible Tokens from a captured transactional QR code generator at a point of purchase for payment receipts within a timed allotment is disclosed. The generator provides an on-the-fly transactional QR code that contains details pertaining to a specific transaction at point of purchase. The QR code is accessible to the buyer to scan with their mobile device within a predetermined time period. The buyer's mobile device decodes the QR code to retrieve an embedded tokenized URL within a predetermined time period. The buyer's mobile device connects to the tokenized URL string and mints the receipt into an NFT that is stored on a blockchain ledger. This allows the user to access a digital form of the receipt and store the receipt for later review or retrieval.


