Electronic Transaction System with Capability Discovery

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Solution Overview

Problem

Many transactions remain paper-based due to the lack of awareness about electronic transfer capabilities between entities, leading to inefficiencies and increased resource utilization.

Innovation Solution

A system that discovers potential interactions between entities, verifies shared electronic transfer capabilities, and facilitates electronic transactions by notifying entities of their shared capabilities, enabling them to transition from paper-based to electronic transactions.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If entities use paper-based transactions, then they can transact without electronic transfer capabilities, but the transaction process requires more time and resources

Engineering Contradiction:

Improvetransaction method compatibilityVSAvoidtransaction efficiency

Core Design Contradiction:

Adaptability or versatilityVSProductivity

Solution Approach 1:

The system performs preliminary actions by discovering potential interactions between entities and verifying shared electronic transfer capabilities before transactions occur. This advance verification enables entities to switch from paper-based to electronic transactions proactively, improving efficiency while maintaining compatibility with entities that haven't yet enabled electronic capabilities.

Inventive Principle:

Principle #10Preliminary action

2Productivity

If entities transition to electronic transactions, then time and resources are reduced, but entities may lack awareness of shared electronic transfer capabilities

Engineering Contradiction:

Improvetransaction efficiencyVSAvoidcapability awareness

Core Design Contradiction:

ProductivityVSLoss of information

Solution Approach 1:

The system implements feedback by notifying entities of their shared electronic transfer capabilities after verification. This feedback mechanism ensures entities are informed about available electronic transaction options, enabling them to transition from paper-based to electronic transactions with full awareness of the capabilities involved.

Inventive Principle:

Principle #23Feedback

3Extent of automation

If a system verifies electronic transfer capabilities between entities, then electronic transactions can be enabled, but the system complexity increases

Engineering Contradiction:

Improveelectronic transaction enablementVSAvoidsystem complexity

Core Design Contradiction:

Extent of automationVSDevice complexity

Solution Approach 1:

The system applies self-service by having entities implicitly provide information about their electronic transfer capabilities through their interactions and transaction history. The system automatically discovers and verifies these capabilities without requiring complex manual configuration or explicit entity participation, thereby reducing system complexity while maintaining high automation.

Inventive Principle:

Principle #25Self-service

Data Source

PatentUS8571981B1Method and system for establishing electronic financial transactions between entities

Publication Date: 2013.10.29 INTUIT INC

AI summary

One embodiment provides a system that facilitates an electronic transaction between a set of entities. During operation, the system discovers a potential interaction between the entities and verifies a set of shared electronic transfer capabilities between the entities. Next, the system facilitates the electronic transaction between the entities by notifying one or more of the entities of the shared electronic transfer capabilities.