18510183. Transaction Authentication simplified abstract (Google LLC)
Contents
- 1 Transaction Authentication
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 Transaction Authentication - 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 How does this technology compare to existing authentication methods in terms of security and efficiency?
- 1.11 What are the potential limitations or vulnerabilities of this authentication method?
- 1.12 Original Abstract Submitted
Transaction Authentication
Organization Name
Inventor(s)
Ankit Aggarwal of Singapore (SG)
Sakshi Gopal of Singapore (SG)
John J. Geewax, Jr. of Singapore (SG)
Ishaan Malhi of Singapore (SG)
Transaction Authentication - A simplified explanation of the abstract
This abstract first appeared for US patent application 18510183 titled 'Transaction Authentication
Simplified Explanation
The abstract describes a method for authenticating a transaction between two entities by generating transaction details information, encrypting it through digital signing, and transmitting it to the first computing device.
- Receiving a request associated with the transaction
- Generating transaction details information
- Encrypting the transaction details information through digital signing
- Transmitting the encrypted transaction details information to the first computing device
Potential Applications
The technology described in this patent application could be applied in various industries such as finance, e-commerce, and healthcare for secure and authenticated transactions between entities.
Problems Solved
This technology solves the problem of ensuring the authenticity and security of transactions between two entities by encrypting transaction details information through digital signing.
Benefits
The benefits of this technology include enhanced security, reduced risk of fraud, and increased trust between the parties involved in the transaction.
Potential Commercial Applications
The technology could be commercially applied in banking and financial institutions, online payment platforms, and healthcare systems for secure and authenticated transactions.
Possible Prior Art
One possible prior art for this technology could be existing methods of digital signatures and encryption techniques used in secure transactions.
Unanswered Questions
How does this technology compare to existing authentication methods in terms of security and efficiency?
This article does not provide a direct comparison with existing authentication methods, leaving the reader to wonder about the advantages and disadvantages of this technology in comparison to others.
What are the potential limitations or vulnerabilities of this authentication method?
The article does not address any potential limitations or vulnerabilities of this authentication method, leaving the reader to question the possible weaknesses that could be exploited by malicious actors.
Original Abstract Submitted
A method for authenticating a transaction between two entities includes receiving, by one or more processors, a request associated with the transaction between a first entity associated with a first computing device and a second entity, generating, by the one or more processors, transaction details information associated with completion of the transaction between the first entity and the second entity, encrypting, by the one or more processors, the transaction details information by digitally signing the transaction details information, and transmitting, by the one or more processors, the transaction details information encrypted by the one or more processors, to the first computing device.
