FMR LLC (20240338685). Transfer Transaction Blockchain with Clawback Apparatuses, Processes and Systems simplified abstract
Contents
Transfer Transaction Blockchain with Clawback Apparatuses, Processes and Systems
Organization Name
Inventor(s)
John Mcdonough of Nahant MA (US)
Feina Niu of Cambridge MA (US)
Transfer Transaction Blockchain with Clawback Apparatuses, Processes and Systems - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240338685 titled 'Transfer Transaction Blockchain with Clawback Apparatuses, Processes and Systems
The abstract describes a patent application for a transfer transaction blockchain with clawback apparatuses, processes, and systems ("NBSA") that authenticates NFT generation, document publishing, transfer transactions, and clawback transactions.
- The NBSA components transform various inputs into corresponding outputs, such as authenticating NFT generation output and transfer transaction output.
- A transfer transaction processing request data structure is used to specify the transaction requestor blockchain address, transfer transaction identifier, and authorization data.
- The authorization data is evaluated to verify control over the transaction requestor blockchain address.
- A clawback post transaction is submitted to a blockchain, and a notification is sent to a transfer transaction handling smart contract for validation.
- The smart contract checks compliance with predefined clawback rules and transfers cryptographic assets to the sender of the transfer transaction associated with the identifier.
Potential Applications: - Secure transfer transactions in blockchain networks - Authenticating NFT generation and document publishing - Implementing clawback mechanisms for transactions
Problems Solved: - Ensuring control over transaction requestor addresses - Validating clawback transactions for compliance with rules - Securing transfer transactions and cryptographic assets
Benefits: - Enhanced security and control over blockchain transactions - Efficient validation of clawback transactions - Streamlined transfer transaction processes
Commercial Applications: Title: "Blockchain Transfer Transaction with Clawback Apparatuses for Secure Transactions" This technology can be used in financial institutions, supply chain management, and digital asset marketplaces to ensure secure and compliant transactions.
Questions about the technology: 1. How does the NBSA components enhance the security of blockchain transactions? 2. What are the key benefits of implementing clawback mechanisms in transfer transactions?
Original Abstract Submitted
the transfer transaction blockchain with clawback apparatuses, processes and systems (“nbsa”) transforms authenticating nft generation input, nft authentication input, document publishing input, nft document access input, transfer transaction input, clawback transaction input datastructure/inputs via nbsa components into authenticating nft generation output, nft authentication output, document publishing output, nft document access output, transfer transaction output, clawback transaction output outputs. a transfer transaction processing request datastructure structured as specifying a transaction requestor blockchain address, a transfer transaction identifier, and authorization data is obtained. the authorization data is evaluated to verify control over the transaction requestor blockchain address. a clawback post transaction is submitted to a blockchain. a clawback post transaction notification is sent to a transfer transaction handling smart contract that validates the clawback post transaction by checking compliance with a set of predefined clawback rules, and transfers cryptographic assets to sender of a transfer transaction associated with the transfer transaction identifier.
