18151658. TRANSFORMING RESOURCES BETWEEN CENTRALIZED AND DECENTRALIZED NETWORKS simplified abstract (Truist Bank)
Contents
TRANSFORMING RESOURCES BETWEEN CENTRALIZED AND DECENTRALIZED NETWORKS
Organization Name
Inventor(s)
Barath Jayaraman of Fort Mill SC (US)
TRANSFORMING RESOURCES BETWEEN CENTRALIZED AND DECENTRALIZED NETWORKS - A simplified explanation of the abstract
This abstract first appeared for US patent application 18151658 titled 'TRANSFORMING RESOURCES BETWEEN CENTRALIZED AND DECENTRALIZED NETWORKS
The abstract describes a system that transforms a resource from one type to another, involving login credentials, remote access, authentication, and interaction between a decentralized ledger and a user account.
- Simplified Explanation: The system described in the patent application allows for the transformation of a resource from one type to another by authenticating login credentials, granting access to a user account, and facilitating interactions between a decentralized ledger and the user account.
- Key Features and Innovation:
- Authentication of login credentials - Remote access to user accounts - Interaction between decentralized ledger and user account - Transformation of resources from one type to another
- Potential Applications:
- Secure transactions - Digital asset management - Cryptocurrency exchanges - Identity verification systems
- Problems Solved:
- Ensuring secure access to user accounts - Facilitating interactions with decentralized ledgers - Transforming resources efficiently and accurately
- Benefits:
- Enhanced security - Streamlined resource transformation - Improved user experience - Efficient decentralized ledger interactions
- Commercial Applications:
Title: Secure Resource Transformation System Potential commercial uses include: - Financial institutions - E-commerce platforms - Identity verification services - Cryptocurrency exchanges
- Prior Art:
Readers can explore prior art related to resource transformation systems, authentication methods, and decentralized ledger interactions in the field of blockchain technology.
- Frequently Updated Research:
Stay updated on the latest advancements in resource transformation systems, authentication protocols, and decentralized ledger technologies to enhance the efficiency and security of digital transactions.
Questions about Resource Transformation System: 1. How does the system ensure the security of login credentials and user accounts? 2. What are the potential implications of this technology for the future of digital transactions and decentralized systems?
Original Abstract Submitted
A system for transforming a resource from a first type into a second type. The system receives login credentials and a request for remote access to a user account associated with an entity utilizing a centralized network. The system authenticates the login credentials and grants access to the user account. The system receives a unique identifier for a first type of electronic digital certificate resource associated with a decentralized ledger and stores a record of it. Once the system receives a request to initiate an interaction between the decentralized ledger and the user account, the system determines a balance of the first type of resource on the decentralized ledger using the stored record of the unique identifier. The system transforms the resource from the first type to a second type and completes the requested interaction between the decentralized ledger and the user account.
