17937951. SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS simplified abstract (Capital One Services, LLC)
Contents
- 1 SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Unanswered Questions
- 1.11 Original Abstract Submitted
SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS
Organization Name
Inventor(s)
Imren Johar of Clifton VA (US)
SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS - A simplified explanation of the abstract
This abstract first appeared for US patent application 17937951 titled 'SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS
Simplified Explanation
The patent application describes methods and systems for implementing a novel cryptographic resource standard in blockchain technology, allowing for complex communications and various types of cryptographic resource transfers.
- The novel cryptographic resource standard enables blockchain functions such as single cryptographic resource transfers, batch cryptographic resource transfers, and on-chain batching of one or more cryptographic resources.
Potential Applications
The technology could be applied in various industries such as finance, supply chain management, healthcare, and voting systems to securely transfer and track cryptographic resources.
Problems Solved
1. Enhanced security in blockchain transactions. 2. Improved efficiency in transferring cryptographic resources.
Benefits
1. Increased transparency and traceability in transactions. 2. Reduced transaction costs. 3. Enhanced data security.
Potential Commercial Applications
Optimizing supply chain management systems with secure cryptographic transfers.
Possible Prior Art
There may be prior art related to cryptographic resource standards in blockchain technology, but specific examples are not provided in the abstract.
Unanswered Questions
How does the novel cryptographic resource standard compare to existing standards in terms of security and efficiency?
The article does not provide a direct comparison between the novel standard and existing ones.
Are there any limitations or potential drawbacks to implementing this technology in blockchain systems?
The potential challenges or limitations of integrating the novel cryptographic resource standard are not discussed in the abstract.
Original Abstract Submitted
Methods and systems for uses and/or improvements to blockchain technology. In particular, the methods and systems described herein implement a novel cryptographic resource standard that provides functionality for complex communications. The novel cryptographic resource standard allows for blockchain functions that may involve single cryptographic resource transfers or batch cryptographic resource transfers as well as on-chain batching of one or more cryptographic resources.
