Virtual Wallet Embedded in Customer Premise Equipment
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Solution Overview
Problem
Current methods for facilitating transactions between third-party content providers and subscribers through customer premise equipment (CPE) devices are inadequate, lacking efficient mechanisms for using virtual currencies for content purchases.
Innovation Solution
A CPE device is configured to provide a user interface and virtual currency wallet for subscribers to select and pay for content using virtual currencies, with the ability to initiate transfers from a virtual currency account to a payee account, utilizing encryption and QR codes for secure transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional payment methods are used for content purchases through CPE devices, then transaction security is maintained through established protocols, but transaction efficiency and user convenience are reduced due to complex authentication and intermediary steps
Solution Approach 1:
The patent extracts the payment functionality from external payment systems and embeds a virtual currency wallet directly within the CPE device. This allows transactions to occur internally without requiring external payment gateways, bank cards, or third-party intermediaries, thereby simplifying the transaction process and improving efficiency while maintaining security through the device's existing secure environment
Solution Approach 2:
The patent introduces a QR code as an intermediary representation of the virtual currency wallet. The QR code enables quick and secure identification of the wallet address for receiving payments without requiring complex authentication protocols, thus improving transaction efficiency while maintaining security through the established QR code verification mechanism
2Ease of operation
If virtual currency wallets are integrated directly into CPE devices, then user convenience and transaction speed are improved, but device security requirements and encryption needs increase
Solution Approach 1:
The patent merges the virtual currency wallet functionality with the existing CPE device security infrastructure. By integrating the wallet into the device's secure environment and utilizing existing authentication mechanisms (such as parental controls and user profiles already present in CPE systems), the patent enhances user convenience without significantly increasing security requirements, as the wallet inherits the device's existing security protocols
Solution Approach 2:
The patent uses QR codes as a simplified copy or representation of the complex virtual currency wallet address and verification data. Instead of requiring users to manually enter long wallet addresses or undergo complex authentication, the QR code provides a visual copy that can be quickly scanned and verified, improving ease of operation while maintaining the security of the underlying wallet system
3Adaptability or versatility
If multiple payment options are provided for content purchases, then user choice and adaptability are improved, but interface complexity and decision-making time increase
Solution Approach 1:
The patent extracts the payment decision-making process from the content browsing interface and separates it into a distinct virtual currency wallet interface. When users encounter content they wish to purchase, the system presents a simplified payment option indicator that links to the wallet interface, where the actual payment decision is made. This separation reduces interface complexity by removing detailed payment option presentations from the content browsing flow while maintaining versatility through the dedicated wallet interface
Data Source
AI summary
Methods, systems, and computer readable media described herein are operable to facilitate a virtual currency transaction through a customer premise equipment (CPE) device. A subscriber may use a CPE device to access content offered within a content marketplace, and the CPE device may be configured to provide the subscriber with an option for purchasing content using a virtual currency. The CPE device may be configured with or may have access to a virtual currency account/wallet associated with the subscriber, and the CPE device may carry out the transaction by submitting payment information to a payee or to an upstream payment facilitating server. The virtual currency account/wallet may be installed at the CPE and may be encrypted with a subscriber PIN/password. The CPE device may provide one or more user interfaces that guide a subscriber through the process of transferring virtual currency funds in exchange for a content item.