The Precision Resource Group, LLC (20240232849). LOCALIZED SMART CONTRACT BANKING SYSTEM AND METHOD simplified abstract
Contents
LOCALIZED SMART CONTRACT BANKING SYSTEM AND METHOD
Organization Name
The Precision Resource Group, LLC
Inventor(s)
Antonio Blazevige of Hillsborough NJ (US)
LOCALIZED SMART CONTRACT BANKING SYSTEM AND METHOD - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240232849 titled 'LOCALIZED SMART CONTRACT BANKING SYSTEM AND METHOD
The abstract describes a localized smart contract banking system that includes local banking hubs at individual merchant facilities, a private wireless network connecting neighboring hubs, a local gateway for wide area network access, a cloud management hub, and mobile smartphone communication with the local banking hubs and cloud management hub.
- Localized smart contract banking system
- Local banking hubs at individual merchant facilities
- Private wireless network connecting neighboring hubs
- Local gateway for wide area network access
- Cloud management hub for communication
- Mobile smartphone communication with local banking hubs and cloud management hub
Potential Applications: - Secure financial transactions at merchant facilities - Efficient communication between local banking hubs - Seamless access to wide area network for data management
Problems Solved: - Lack of secure banking systems at merchant facilities - Inefficient communication between banking hubs - Limited access to wide area network for data transfer
Benefits: - Enhanced security for financial transactions - Improved communication between banking hubs - Streamlined data management through wide area network access
Commercial Applications: Title: "Localized Smart Contract Banking System for Secure Financial Transactions" This technology can be used in retail stores, restaurants, and other merchant facilities to ensure secure and efficient financial transactions, improving overall customer experience and data management.
Prior Art: Research into similar localized banking systems and smart contract technologies can provide insights into the development and implementation of this innovative system.
Frequently Updated Research: Stay updated on advancements in smart contract technology, wireless communication systems, and cloud management solutions to enhance the efficiency and security of the localized smart contract banking system.
Questions about Localized Smart Contract Banking System: 1. How does the private wireless network enhance communication between local banking hubs? 2. What are the potential security benefits of using a cloud management hub in this system?
Original Abstract Submitted
a localized smart contract banking system including a local banking hub located at each of a plurality of individual merchant facilities, a private wireless network implemented by each of the local banking hubs and providing for communication between local banking hubs located at neighboring merchant facilities within range of the private wireless networks, a local gateway installed at specific local banking hubs providing access to a wide area network, a cloud management hub communication with the specific local banking hubs over the wide area network, and a mobile smartphone type device communicating directly with a local banking hub via the private wireless network and with the cloud management hub via the cellular interface.
