Virtual Asset Access Card with Concealed Private Key Handling
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Solution Overview
Problem
Current systems for managing and transferring virtual assets, such as cryptocurrencies, are cumbersome and difficult for the general population and merchants to access and use, limiting their widespread acceptance.
Innovation Solution
The implementation of a virtual asset access card and wallet app that includes machine-readable codes for accessing public and private keys, allowing secure transactions and management of virtual assets without exposing private key information, with features like detachable portions for secure handling and cloning capabilities.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional blockchain transaction methods are used, then security and decentralization are maintained, but accessibility and ease of use deteriorate
Solution Approach 1:
The patent introduces a card as an intermediary device that stores public and private keys. The card simplifies the interaction between users and the blockchain by providing a physical medium that can be easily carried and used, eliminating the need for users to directly manage complex digital wallets and key pairs. The card acts as a mediator that bridges the gap between traditional physical payment methods and digital blockchain transactions.
Solution Approach 2:
The patent creates a physical copy or representation of the digital keys on a card. Instead of requiring users to store and manage abstract digital key pairs, the system creates a tangible card that contains or represents these keys, making them accessible through familiar physical interaction methods while maintaining the security properties of the original digital keys.
2Ease of operation
If private key information is exposed for transactions, then transaction capability is enabled, but security deteriorates
Solution Approach 1:
The patent extracts the private key from the digital wallet environment and places it on a separate physical card. This separation allows the private key to be used for transactions without being exposed in the digital environment where it could be vulnerable to hacking, malware, or unauthorized access. The card provides a secure, isolated environment for key storage and usage.
Solution Approach 2:
The system segments the key management functionality by separating public and private key storage and usage. The card contains both keys but enables transactions in a way that the private key never leaves the card in an exposed state. This segmentation allows transaction capability while maintaining security through architectural design that prevents private key exposure.
3Adaptability or versatility
If virtual assets are made more accessible to general population, then user base increases, but security risks and complexity increase
Solution Approach 1:
The patent conceptualizes the card as a simple, easily replaceable object. If a card is lost or compromised, it can be deactivated and a new card issued, similar to traditional payment cards. This approach makes the system accessible to the general population by providing a familiar, low-stakes physical object for managing valuable digital assets, reducing the perceived complexity and risk for new users.
Data Source
AI summary
Virtual asset access cards are provided. Certain embodiments involve first and second separable portions, the first portion being associated with a public key that corresponds with a virtual asset wallet and the second portion being associated with a private key that corresponds with the public key. Various embodiments involve a card having a first machine-readable code associated with a public key that corresponds with a virtual asset wallet, a second machine-readable code associated with a private key that corresponds with the public key and at least one concealer configured to provide selective access to the second machine-readable code.