Token-Based Party Association for Secure Transaction Linking
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
In electronic communication, repeated exchange of persistent information between parties increases network volume and complicates secure management of sensitive information, especially when trust has not been established between communicating parties.
Innovation Solution
An apparatus and method for securely linking a consumer's bank account with a merchant, using tokens to establish an association without exchanging sensitive information, thereby reducing the need for repeated transmission of sensitive data and enhancing security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If sensitive information is exchanged between parties to establish trust and enable transactions, then the ability to form associations and conduct transactions is improved, but the security risk and network volume increase due to repeated transmission of sensitive data
Solution Approach 1:
The patent extracts sensitive information from the transaction process by introducing tokens that represent parties without containing actual sensitive data. Tokens are generated from sensitive information but do not include it, allowing transactions to proceed without transmitting the original sensitive data.
Solution Approach 2:
The patent introduces tokens as intermediary objects that mediate between parties. Instead of parties directly exchanging sensitive information, they exchange tokens that serve as safe representatives, eliminating the need for sensitive data transmission while maintaining the ability to establish associations.
2Productivity
If sensitive information is transmitted repeatedly between parties for each transaction, then transaction capability is maintained, but network volume increases and information security becomes more difficult to manage
Solution Approach 1:
The patent creates token copies that represent parties without containing the original sensitive information. These token copies can be transmitted repeatedly for transactions without increasing security risks or requiring re-transmission of sensitive data, as the tokens are safe representations that can be freely exchanged.
3Adaptability or versatility
If sensitive information is exchanged to establish trust between new parties, then association formation is enabled, but parties may be reluctant to provide information when trust has not been established
Solution Approach 1:
The patent uses tokens as intermediaries that eliminate the need for direct sensitive information exchange. Parties can establish associations by exchanging tokens instead of sensitive data, making the process easier and reducing reluctance since no sensitive information needs to be disclosed to new parties.
Solution Approach 2:
The patent extracts the essential identifying information from sensitive data to create tokens. This allows parties to exchange minimal information (tokens) rather than full sensitive information, reducing the barrier to association formation while maintaining security.
Data Source
AI summary
A method of associating a first party and a second party is provided, the method comprising receiving a first electronic message comprising information indicative of the first party; generating a first electronic token in response to receiving the information indicative of the first party; sending the first electronic token to the first party; receiving one or more second electronic messages from the second party, the one or more second electronic messages comprising the first electronic token and information indicative of the second party; generating a second electronic token in response to receiving the first electronic token and the information indicative of the second party from the second party; associating the information indicative of the first party, the second party and the second electronic token, the first party being identified on the basis of the first electronic token, and sending the second electronic token to the first party.