Visa International Service Association (20240265007). SYSTEMS AND METHODS FOR RECORDING DATA REPRESENTING MULTIPLE INTERACTIONS simplified abstract

SYSTEMS AND METHODS FOR RECORDING DATA REPRESENTING MULTIPLE INTERACTIONS

Organization Name

Visa International Service Association

Inventor(s)

Ajith Thekadath of San Ramon CA (US)

Suman Mukherjee of Foster City CA (US)

Mondo Jacobs of San Ramon CA (US)

David Henstock of San Francisco CA (US)

SYSTEMS AND METHODS FOR RECORDING DATA REPRESENTING MULTIPLE INTERACTIONS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240265007 titled 'SYSTEMS AND METHODS FOR RECORDING DATA REPRESENTING MULTIPLE INTERACTIONS

• • Simplified Explanation:**

The patent application describes a method for combining multiple interactions into a single record entry by creating a data package representing a set of interactions. Each entity involved can review the data package and digitally sign it to indicate agreement. Once all entities have signed, the data package can be stored in a record like a blockchain.

• • Key Features and Innovation:**
• Method for combining multiple interactions into a single record entry
• Creation of a data package representing a set of interactions
• Digital signing by entities to indicate agreement
• Storage of signed data package in a record such as a blockchain

• • Potential Applications:**

This technology could be applied in various industries such as finance, healthcare, legal, and supply chain management where multiple interactions need to be recorded and agreed upon by different entities.

• • Problems Solved:**

This technology addresses the challenge of consolidating multiple interactions into a single record entry while ensuring agreement from all involved parties.

• • Benefits:**
• Streamlines the process of recording and agreeing on multiple interactions
• Enhances transparency and trust among entities
• Provides a secure and immutable record of interactions

• • Commercial Applications:**

Potential commercial applications include contract management systems, supply chain tracking platforms, and financial transaction recording services. This technology could revolutionize how agreements are documented and verified in various industries.

• • Questions about the Technology:**

1. How does the digital signing process work in this method? 2. What are the security measures in place to protect the integrity of the data package?

• • Frequently Updated Research:**

Stay updated on advancements in blockchain technology and digital signature protocols to enhance the efficiency and security of this method.

Original Abstract Submitted

a method for combining multiple interactions into a single record entry is disclosed. a data package can be created that represents a set of interactions, and each entity associated with an interaction can review the data package. each entity can indicate agreement with the interactions by digitally signing the data package. once signed by each involved entity, the data package can be stored in a record such as a blockchain.