ORANGE (20240289770). Blockchain payment method and device simplified abstract

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Blockchain payment method and device

Organization Name

ORANGE

Inventor(s)

Emmanuel Bertin of CHATILLON CEDEX (FR)

Julien Hatin of CHATILLON CEDEX (FR)

Blockchain payment method and device - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240289770 titled 'Blockchain payment method and device

Simplified Explanation:

The abstract describes a payment method implemented by a payment device that involves receiving requests, sending parameters in response to requests, and issuing tokens in response to specific requests from a service application.

  • Receiving a first request for a smart contract recorded on a blockchain containing electronic tokens and parameters.
  • Sending parameters in response to a second request from a service application.
  • Issuing tokens in response to a third request from the service application.

Key Features and Innovation:

  • Utilizes blockchain technology for recording smart contracts.
  • Enables the issuance of tokens based on specific requests from service applications.
  • Streamlines the payment process by automating token issuance.

Potential Applications:

  • Digital payment systems.
  • Smart contract transactions.
  • Tokenized asset transfers.

Problems Solved:

  • Streamlining payment processes.
  • Enhancing security through blockchain technology.
  • Automating token issuance based on specific requests.

Benefits:

  • Increased efficiency in payment processing.
  • Enhanced security and transparency through blockchain technology.
  • Automation of token issuance based on service application requests.

Commercial Applications:

  • Digital payment platforms.
  • Financial services utilizing smart contracts.
  • Tokenized asset exchanges.

Questions about Payment Method Innovation:

1. How does this payment method innovation improve security in transactions? 2. What are the potential challenges in implementing this technology in existing payment systems?

Frequently Updated Research:

Stay updated on the latest advancements in blockchain technology and smart contract applications to enhance the efficiency and security of payment methods.

By focusing on the lasting impact and relevance of this technology, businesses can streamline their payment processes and enhance security in transactions.


Original Abstract Submitted

a payment method implemented by a payment device and including: receiving a first request intended for a computer program, referred to as smart contract, recorded on a blockchain, the first request including at least one electronic token associated with at least one parameter; sending the at least one parameter in response to a second request originating from a service application; and issuing the at least one token in response to a third request originating from the service application.

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