18616159. SECURE IDENTIFIER INTEGRATION simplified abstract (TRETE Inc.)

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SECURE IDENTIFIER INTEGRATION

Organization Name

TRETE Inc.

Inventor(s)

Damien Patton of Plano TX (US)

SECURE IDENTIFIER INTEGRATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 18616159 titled 'SECURE IDENTIFIER INTEGRATION

Simplified Explanation: The patent application describes a computer-implemented method for creating a wallet for asset tokens and enabling users to make transactions using the wallet.

  • The method involves creating a wallet for asset tokens.
  • It includes creating an account for a first user after completing user onboarding validation.
  • The account is associated with either an individual or a business entity.
  • The method initiates know-your-customer (KYC) for individuals and know-your-business (KYB) for business entities.
  • It enables the first user to access and conduct transactions using the wallet.

Key Features and Innovation:

  • Creation of a wallet for asset tokens.
  • User onboarding validation for creating user accounts.
  • Association of accounts with individuals or business entities.
  • Implementation of KYC and KYB processes.
  • Enablement of users to access and transact using the wallet.

Potential Applications: The technology can be applied in the financial sector for secure and efficient management of asset tokens.

Problems Solved: The method addresses the need for secure storage and transaction capabilities for asset tokens.

Benefits:

  • Enhanced security for asset token storage.
  • Efficient transaction capabilities for users.
  • Compliance with KYC and KYB regulations.

Commercial Applications: The technology can be utilized by financial institutions, cryptocurrency exchanges, and other businesses dealing with asset tokens.

Questions about Asset Token Wallet Technology: 1. How does the method ensure the security of asset tokens stored in the wallet? 2. What are the potential regulatory implications of implementing KYC and KYB processes in the method?


Original Abstract Submitted

In certain aspects of the disclosure, a computer-implemented method includes creating a wallet for asset tokens and creating an account for a first user upon completion of user onboarding validation. The method includes associating the account with one of an individual and a business entity. The method includes initiating one of know-your-customer (KYC) for the individual and know-your-business (KYB) for the business entity. The method includes enabling the first user to access and make transactions using the wallet.

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