In-Vehicle Cryptocurrency Payment With Receiver Address Authentication
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Solution Overview
Problem
Conventional payment methods in motor vehicles are slow, unreliable, and prone to fraud, often requiring pre-contractual agreements and resulting in insufficient liquidity, especially for quick transactions like parking, refueling, or passing barriers.
Innovation Solution
A method utilizing a cryptocurrency computer network for secure, fast, and convenient payments within a motor vehicle, where a receiver address is authenticated before proceeding with the transaction, allowing for cashless payments without leaving the vehicle and eliminating the need for prior registration with service providers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If conventional payment methods are used in a motor vehicle, then payment information can be transmitted, but long waiting times occur before payment is completed or confirmed
Solution Approach 1:
The patent replaces conventional mechanical payment systems (cash handling, card swiping, manual processing) with a cryptocurrency-based digital payment system. The payment transmitter in the motor vehicle communicates directly with the cryptocurrency computer network, enabling near-instantaneous payment confirmation without the delays inherent in traditional payment processing mechanisms.
Solution Approach 2:
The patent introduces a payment transmitter as an intermediary device installed in the motor vehicle that facilitates direct communication with the cryptocurrency computer network. This intermediary enables automated payment initiation and confirmation, eliminating the need for manual intervention and reducing waiting times associated with conventional payment methods.
2Reliability
If conventional payment methods are used in a motor vehicle, then payment can be processed, but cases of fraud occur from forging fake identity or unauthorized reading or manipulation of payment information
Solution Approach 1:
The patent uses cryptographic copies (digital signatures and hashed identifiers) instead of physical payment information that can be forged or manipulated. The payment transmitter generates cryptographic proofs of payment authorization that are mathematically verifiable by the cryptocurrency network, making it impossible to forge fake identities or unauthorized payment commands without detection.
Solution Approach 2:
The cryptocurrency computer network acts as a trusted intermediary that verifies payment authenticity through cryptographic validation. Rather than relying on vulnerable physical payment cards or stored information that can be read or manipulated, the system uses the network to independently verify each transaction's legitimacy, preventing fraud from unauthorized reading or manipulation of payment data.
3Reliability
If conventional payment methods are used in a motor vehicle, then payment information is stored and transmitted, but insufficient liquidity can result in a payment not being able to be afforded
Solution Approach 1:
The patent implements a universal cryptocurrency payment system that can be used across multiple different services and locations without requiring separate payment arrangements for each. The payment transmitter can initiate transactions with any recipient on the cryptocurrency network, providing flexible liquidity management and eliminating the need to pre-arrange payment terms with each service provider, thus ensuring payment affordability in various scenarios.
4Ease of operation
If conventional payment methods are used in a motor vehicle, then payment can be made, but it is necessary to leave the motor vehicle for the payment process
Solution Approach 1:
The patent implements a self-service payment system where the motor vehicle itself, through its integrated payment transmitter, automatically initiates and completes payment transactions. The system detects when payment is required (e.g., at a barrier, parking facility, or refueling station) and autonomously executes the cryptocurrency transaction without requiring the driver to exit the vehicle or manually intervene, thereby maximizing convenience and eliminating time loss.
5Adaptability or versatility
If conventional payment methods are used in a motor vehicle, then payment can be processed, but a previous registration with a goods or services provider is necessary
Solution Approach 1:
The patent creates a universal payment system based on cryptocurrency that works across all services on the network without requiring service-specific registration. The payment transmitter communicates with the cryptocurrency computer network using standardized protocols, allowing the vehicle to pay for any service (parking, refueling, barriers, etc.) from any provider on the network immediately, eliminating the need for prior registration arrangements and enhancing payment flexibility.
Data Source
AI summary
A method for paying in a motor vehicle having a transaction device involves providing transaction data relating to the payment to the payment transmitter. The transaction data including a receiver address of a payment receiver, a payment amount, a transmitter address of a payment transmitter located in the motor vehicle, and a private key belonging to the transmitter address. The provided transaction data is entered into the transaction device. The entered receiver address is transmitted to the payment receiver, which authenticates the transmitted receiver address. Only if the authenticated receiver address is classified as authentic does the method proceed. This involves signaling the successful authentication of the receiver address to the payment transmitter and transmitting the entered transaction data entered to the cryptocurrency computer network for carrying out the payment. Accordingly, a transaction compiled from the transaction data is entered into at least one account book of the cryptocurrency computer network. A transaction status relating to the entry of the transaction is signaled to the payment transmitter.