Limited Liability Company “SIRIUS-CONSALTING S.R.L.” (20240267240). TOOL, SYSTEM AND METHOD FOR PERFORMING TRANSACTIONS BASED ON A UNIQUE NFT TOKEN simplified abstract
Contents
TOOL, SYSTEM AND METHOD FOR PERFORMING TRANSACTIONS BASED ON A UNIQUE NFT TOKEN
Organization Name
Limited Liability Company “SIRIUS-CONSALTING S.R.L.”
Inventor(s)
Pavel Zhesterov of Moscow (RU)
TOOL, SYSTEM AND METHOD FOR PERFORMING TRANSACTIONS BASED ON A UNIQUE NFT TOKEN - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240267240 titled 'TOOL, SYSTEM AND METHOD FOR PERFORMING TRANSACTIONS BASED ON A UNIQUE NFT TOKEN
The present disclosure introduces a method for utilizing a settlement system based on a non-fungible token (NFT), which includes an original physical banknote and a digital copy of this banknote in the form of an NFT, known as an NFT-banknote, to conduct electronic settlements using a blockchain or similar service.
- Obtaining digital images of the original physical banknote
- Checking if the digital images meet predetermined requirements and verifying the authenticity of the banknote
- Issuing an NFT-token containing digital images of the specified banknote, along with data such as currency, nominal value, current owner of the settlement system, and current holder of the original physical banknote
- Entering data about the settlement system into a register
Potential Applications: - Digital asset management - Secure electronic transactions - Authentication and verification processes
Problems Solved: - Streamlining settlement processes - Enhancing security and authenticity in transactions - Facilitating digital representation of physical assets
Benefits: - Improved efficiency in settlements - Enhanced security and transparency - Simplified authentication procedures
Commercial Applications: Title: "Enhancing Digital Settlements with NFT-Banknotes" This technology can be applied in financial institutions, digital asset platforms, and online marketplaces to streamline transactions and enhance security measures.
Prior Art: Further research can be conducted in the fields of blockchain technology, digital asset management, and secure electronic transactions to explore related prior art.
Frequently Updated Research: Stay updated on advancements in blockchain technology, NFT applications, and digital asset security to enhance the implementation of this settlement system.
Questions about NFT-Banknote Technology: 1. How does the NFT-banknote technology improve the efficiency of settlement processes? 2. What are the potential security benefits of using NFT-banknotes in electronic transactions?
Original Abstract Submitted
the present disclosure provides a computer-implement method for utilizing a settlement system based on a non-fungible token (nft), consisting of the original physical banknote and a digital copy of this original physical banknote in the form of an nft-copy and referred to as an nft-banknote, so as to perform a settlement electronically using a blockchain or other service. the method includes: obtaining digital images of the original physical banknote; checking, whether the digital images of the original physical banknote meet the predetermined requirements, and verifying the authenticity of the original physical banknote. an nft-token is issued, which includes digital images of the specified banknote as well as data regarding the currency of the banknote, nominal value of the banknote, the current owner of the settlement system, and the current holder of the original physical banknote, and then the data about the obtained settlement system is entered into the register.
