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Verification of a Transaction Utilizing a Trusted Third Agent for Independent Feedback

IP.com Disclosure Number: IPCOM000013371D
Original Publication Date: 2002-Jun-13
Included in the Prior Art Database: 2003-Jun-18

Publishing Venue

IBM

Abstract

Verification of a Transaction Utilizing a Trusted Third Agent Abstract We report an architecture and business method by which electronic transitions can be verified using wireless and GPS technology. The convergence of wireless and GPS technologies is inevitable, and indeed, useful for securing electronic transactions. Our design is generally applicable to electronic transactions such as purchases and to electronic signatures for documents such as medical and legal. The verification occurs when both the seller and purchaser exchange information of the transaction with an independent verifying agent. The seller communicates the information about the transaction, such as price, quantity, and location. This information is then passed along to the purchaser through an independent path (i.e. cell phone, wireless device, or smart card) so that the purchaser can then take action on the transaction. This action is in the form of a confirmation that can occur in either active or passive mode. In the active mode, the purchaser must actually confirm the transaction by sending a signal to the verifying agent. In the passive mode, the verifier will electronically confirm that the purchase is typical for the user (via a similarity database) or that the purchaser is actually at the location via a GPS enabled wireless device. A natural extension of the scheme is that the verifying-purchaser is remote from the purchasing-purchaser allowing for multiple remote transactions to be confirmed by a single person. A Simple Example Transaction