20240013172. Blockchain Supported Resource Transfer Communication Protocol simplified abstract (Block, Inc.)
Contents
Blockchain Supported Resource Transfer Communication Protocol
Organization Name
Inventor(s)
Rebecca Corcillo of San Francisco CA (US)
Emily Chiu of San Francisco CA (US)
Megan Coleman of San Francisco CA (US)
Tianlong Yun of San Francisco CA (US)
Blockchain Supported Resource Transfer Communication Protocol - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240013172 titled 'Blockchain Supported Resource Transfer Communication Protocol
Simplified Explanation
The abstract of the patent application describes a communication protocol technique that utilizes blockchain technology to facilitate resource transfers involving digital wallets. The technique involves receiving a semantic message encoding parameters for the resource transfer, generating a quote specifying attributes for communication connections, and receiving an acceptance message indicating acceptance of the quote along with credentials of the digital wallet. An application executable is then generated and transmitted for distribution to the digital wallet, and the resource transfer is initiated through execution of the application as part of the blockchain.
- Semantic messages are received, encoding parameters for resource transfers involving digital wallets.
- Quotes are generated, specifying attributes for communication connections to perform the resource transfer.
- Acceptance messages are received, indicating acceptance of the quotes and including credentials of the digital wallet.
- Application executables are generated and transmitted for distribution to the digital wallet.
- The resource transfer is initiated through execution of the application as part of the blockchain.
Potential applications of this technology:
- Secure and efficient transfer of digital assets between digital wallets.
- Streamlining and automating resource transfers using blockchain technology.
- Facilitating peer-to-peer transactions and payments.
Problems solved by this technology:
- Ensuring secure and tamper-proof resource transfers through the use of blockchain technology.
- Simplifying the process of transferring digital assets by encoding parameters and generating application executables.
- Enhancing trust and transparency in resource transfers by utilizing blockchain technology.
Benefits of this technology:
- Increased security and privacy in resource transfers.
- Improved efficiency and speed in executing resource transfers.
- Enhanced trust and transparency through the use of blockchain technology.
Original Abstract Submitted
blockchain supported resource transfer communication protocol techniques are described. in an implementation, a semantic message is received encoding parameters to be implemented as part of a resource transfer involving a digital wallet. a quote is generated specifying attributes as part of implementing communication connections to perform the resource transfer in compliance with the parameters specified by the semantic message. an acceptance message is received indicating acceptance of the quote, the acceptance message including credentials of the digital wallet. generation is initiated of an application executable as part of a blockchain as complying with the parameters and the attributes. data describing the application as executable as part of the blockchain is transmitted for distribution to the digital wallet. the resource transfer is initiated through execution of the application as part of the blockchain.
