Digital Wallet GUI Linking Physical And Virtual Item Transfers
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Solution Overview
Problem
Conventional e-commerce platforms lack flexibility in purchase selection, payment, transfer of possession, and delivery timing, and do not effectively integrate virtual and physical item transactions, leading to inefficiencies and loss of value in virtual items.
Innovation Solution
A platform that enables secure, tokenized links between unique physical and virtual representations of items, allowing for flexible transactions, including delayed delivery and transfer of ownership, using a distributed ledger and graphical user interfaces for token management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional e-commerce platforms are used for transactions, then the transaction process is simple and direct, but the flexibility in purchase selection, payment, transfer of possession, and delivery timing is limited
Solution Approach 1:
The patent segments the transaction system into separate modular components: a tokenization layer for representing items, a distributed ledger for secure recording, a messaging system for communication, and a fulfillment system for delivery. This segmentation allows each component to handle specific transaction aspects independently, providing flexibility in purchase selection, payment methods, delivery timing, and possession transfer without requiring complete system redesign for each scenario.
2Ease of operation
If virtual items are used for transactions, then the convenience and speed of transactions is improved, but the value of items becomes ephemeral and unreliable
Solution Approach 1:
The patent introduces a token as an intermediary between the physical item and its digital representation. The token is a cryptographic object that can be transferred digitally (providing convenience and speed) while being backed by a unique physical item (providing reliability and value stability). The distributed ledger records the token's ownership and linkage to the physical item, ensuring that the digital transaction has reliable real-world backing.
Solution Approach 2:
The patent creates a digital copy (token) of the physical item that can be freely copied and transferred without diminishing the original item's value. Unlike traditional digital copies that can be infinitely replicated, this token system uses cryptographic principles to create unique, non-fungible representations that maintain value while enabling convenient digital transactions.
3Loss of time
If immediate delivery is required for gifts, then the timeliness of gift delivery is ensured, but the flexibility in choosing delivery timing and method is reduced
Solution Approach 1:
The patent makes the delivery system dynamic by allowing the fulfillment instructions to be configured based on the recipient's preferences. The system can automatically execute immediate delivery when needed, or delay delivery until a specified date, or trigger delivery based on conditions (such as when the recipient needs the item). This dynamic approach provides both timing flexibility and the ability for fast delivery when required.
Data Source
AI summary
In embodiments of the disclosure a method is disclosed for exchanging digital tokens from a message-based application is disclosed. The method includes displaying, by a digital wallet GUI, an inventory of tokens that are owned by a user. Each token is linked to a virtual representation of an item and redeemable for an instance of the item. The method also includes receiving an instruction to transfer a digital token from the inventory of tokens to a recipient, receiving a selection of a media content, and embedding a token identifier of the token in an electronic message that is sent to the recipient, such that the recipient can select the selectable media content to accept to the digital token into a respective account of the recipient.