Digital Wallet Conversion Engine for Cross-Protocol Interoperability
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Solution Overview
Problem
Current digital payment systems are incompatible, preventing seamless interactions between different proprietary ecosystems, as each system uses unique communication protocols, data structures, and encryption, making it difficult to transfer currency between users of different digital wallet systems.
Innovation Solution
A bridging protocol that orchestrates communication between incompatible digital wallet systems by assigning a unique identifier to currency transfers, validating transactional integrity, and using a gossip communication protocol to ensure compatibility and security across multiple digital payment systems.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If each digital payment application uses its own proprietary technology, communication protocols, data structures and encryption, then each system can maintain its own security and functionality, but different digital payment systems become incompatible and cannot seamlessly interact with each other
Solution Approach 1:
The patent implements a conversion engine that acts as an intermediary between incompatible digital wallet systems. This engine receives data from a source digital wallet application, converts it into the appropriate format for the destination system, and enables seamless currency transfers across proprietary ecosystems while maintaining the security and functionality of each individual system
2Adaptability or versatility
If a bridging protocol is implemented to enable compatibility between digital wallet systems, then interoperability is improved, but the device complexity and processing requirements increase
Solution Approach 1:
The conversion engine automatically detects the source and destination digital wallet systems, retrieves the appropriate conversion rules and data structures, and performs the format conversion without manual intervention. This self-service approach reduces operational complexity while maintaining comprehensive interoperability support
Data Source
AI summary
Apparatus and methods are provided for a conversion engine that bridges between incompatible digital currency systems. The conversion engine may include a non-transitory memory of a computer system that includes machine executable instructions, that when executed by a processor on the computer system cause the processor to perform one or more functions of the conversion engine. The conversion engine may receive a request from a source digital wallet application and extract a destination digital wallet from the request. The conversion engine may locate currency referenced by the source digital currency application and verify a transactional integrity of the currency. The conversion engine may transfer the currency from the source digital wallet application to the destination digital wallet application.