Wearable Trust Management via Blockchain and NFC Ratings
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Solution Overview
Problem
Conventional systems and methods for managing trust are inadequate as they fail to provide accurate and reliable quantification of trust between individuals and entities, as they rely on limited subsets of interactions, such as online activity or loyalty programs, neglecting broader daily interactions.
Innovation Solution
A system and method utilizing wearable devices with NFC units and a blockchain network to track and quantify trust through ratings, where each device has a unique ID and profile, allowing for real-time updates and incentives based on interactions, using a weighted average of ratings and classes to maintain a secure and reliable trust ledger.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If conventional systems track only online activity or loyalty programs to manage trust, then implementation is simple, but measurement precision and reliability of trust assessment deteriorates
Solution Approach 1:
The wearable device integrates multiple functions including NFC communication, rating input buttons, and blockchain integration into a single device. This multi-functional approach enables comprehensive trust tracking across various interaction types (online and offline) without requiring multiple separate systems, thereby improving measurement precision while managing complexity through consolidation.
Solution Approach 2:
The system segments trust assessment into different interaction types (first type events between wearable devices, second type events between wearable and terminal devices) and processes them through distinct event determination pathways. This segmentation allows comprehensive tracking of all interactions while maintaining organized data structure in the blockchain ledger.
2Reliability
If comprehensive real-world interactions are tracked to improve trust management accuracy, then reliability improves, but device complexity and data processing requirements increase
Solution Approach 1:
The wearable device automatically performs rating input through its integrated buttons and NFC communication without requiring external intervention. The device autonomously captures interaction data, transmits it via NFC, and stores it in the blockchain ledger, eliminating the need for manual data entry or complex external processing systems.
Solution Approach 2:
The blockchain network serves as an intermediary layer that receives, validates, and stores trust assessment data from wearable devices. This intermediary structure simplifies the overall system by providing a standardized data storage and verification mechanism, reducing the complexity burden on individual wearable devices while ensuring reliable trust management.
3Measurement precision
If centralized tracking system is implemented to provide quantifiable trust assessment, then measurement precision improves, but data security requirements and system complexity increase
Solution Approach 1:
The system creates immutable copies of trust assessment data in the blockchain ledger. Each rating and interaction event is recorded as a permanent, tamper-resistant entry that can be verified by multiple parties. This copying mechanism ensures data security and integrity while maintaining precise trust quantification across the distributed network.
Data Source
AI summary
Disclosed is a system for managing trust. The system comprises at least one wearable device, at least one terminal device and a server arrangement. The server arrangement is configured to determine occurrence of a first type of event between a wearable device and another wearable device or a second type of event between the wearable device and a terminal device; receive a device ID and a class of each of the at least one wearable device and the at least one terminal device; receive a rating and process the rating to generate updated activity information for each of the wearable device, and the other wearable device or the terminal device; update a profile corresponding to each of the at least one wearable device or the at least one terminal device with the updated activity information and allocate an incentive for the profile based on the updated activity information.