Claims:We claim:
1) A system for sending e-gift cards using blockchain technology comprising of;
a. Sending a request to the database of the website using mobile application or web server;
b. Gathering customer information such as full name, user name, password and storing it in the database;
c. Customer care unit for accepting a customer request for issuing gift card for a minimal currency;
d. Payment unit for processing the payment for the requested value or gift card using external payment processor;
e. Confirming the transaction using blockchain ;and
f. Preparing image of the gift card and sending it to the customer.
wherein the transaction is stored in the form of blocks and a blockchain is prepared by a sequence of blocks.
2) The system as claimed in claim 1, wherein the said system is extended to execute instructions where a customer owning a value or gift card transfer it to some other person.
3) The system as claimed in claim1, wherein the said system is extended to execute instructions where a customer owning a value or gift card may split it into more than one value cards with sum of the values equaling the parent card value in a same or different currency.
4)The system as claimed in claim 1, wherein the said system merges more than one value or gift card into one single aggregated value card.
5) The system as claimed in claim 1, wherein the said system purchases a value or gift card for some other identifiable person and a customer can send the value or gift card to a recipient for some intended purpose.
, Description:FIELD OF THE INVENTION:
The present invention relates to secured gift card system. The present invention more particularly relates to a system for issuing and sending cryptographically secured value and gift cards using blockchain technology.
BACKGROUND OF THE INVENTION:
Gift card market numbers grow each year and digital e-gift cards represent the fastest growing sector of the industry. As every industry is going digital, E-gift card rapid adoption comes. However, e-gift cards don’t seem to solve many of the industry’s problems, other than conveniently keeping them organized in customers’ phones.
Gift cards have two fundamental problems that have been plaguing customers and can’t seem to be helped by the industry going digital. The two problems are Fraud and Unredeemed cards.
Gift card fraud currently costs the industry an exorbitant amount every year and is surprisingly easy for fraudsters to pull off. Card security is so low that balance theft is rarely reported or legally pursued due to the lack of personally identifiable attributes proving ownership of a card. By transitioning to online services, e-gift cards have been additionally exposed to the fraud mechanics that all digital goods are inherently vulnerable to. This has led to them having an even higher percentage of fraud attempts than traditional plastic gift cards.
The gift cards or value cards are not tied to a person's identity, hence vulnerable to the theft or misplacement. The gift cards are issued by proprietary systems and their values and activation is held in privacy by the issuer. Such systems are prime targets for hackers and fraudsters. Some of them come with expiration date and their value decay as function of time. A person usually ends up getting a card which can only be redeemed at particular store, which may not serve his needs. If a holder of a gift card wants to re-gift the same card to someone with a value which is different, he cannot split the value of the card. If a holder of gift cards wants to merge the value of more than one card into a single value, he may not be able to do it. The holder of a gift card may not be able to easily exchange or redeem it. He may have to go to secondary market at steep discounted price. It is also inconvenient to a gift giver as most of them come in fixed denominations. Due to the inflexibility and inconvenience of using gift card which results in most of them staying unused.
So there is a need for an efficient system for issuing, sending e-gift cards using blockchain technology in order to maintain safety.
OBJECTS OF THE INVENTION:
An object of the present invention is to provide a system for easy exchange of cards or redeeming of cards.
Another object of the present invention is to provide a flexible and convenient system to use most of the gift cards.
Yet another object of the present invention is to remove the associated drawbacks of the prior art systems and to provide a safe and efficient system for providing, sending e-gift cards.
Other objects and benefits of the present invention will be more apparent from the following description, which is not intended to bind the scope of the present invention.
SUMMARY OF THE INVENTION:
Accordingly, an efficient system for issuing, sending e-gift cards using blockchain technology in order to maintain safety is disclosed. A system for sending e-gift cards using blockchain technology comprising of; sending a request to the database of the website using mobile application or web server; gathering customer information such as full name, user name, password and storing it in the database; customer care unit for accepting a customer request for issuing gift card for a minimal currency; payment unit for processing the payment for the requested value or gift card using external payment processor; confirming the transaction using blockchain ;and preparing image of the gift card and sending it to the customer. wherein the transaction is stored in the form of blocks and a blockchain is prepared by a sequence of blocks.
DESCRIPTION OF THE DRAWINGS:
Fig 1 is the system for sending gift cards using blockchain technology.
DETAILED DESCRIPTION OF THE INVENTION WITH RESPECT TO DRAWINGS:
The present invention is a system for sending gift cards using blockchain technology. The present invention provides a system for easy exchange of cards or redeeming of cards. The present invention also provides a flexible and convenient system to use most of the gift cards. The system of the present invention is a safe and efficient system for providing, sending e-gift cards.
In one embodiment, a system for sending e-gift cards using blockchain technology comprising of;
a. Sending a request to the database of the website using mobile application or web server;
b. Gathering customer information such as full name, user name, password and storing it in the database;
c. Customer care unit for accepting a customer request for issuing gift card for a minimal currency;
d. Payment unit for processing the payment for the requested value or gift card using external payment processor;
e. Confirming the transaction using blockchain ;and
f. Preparing image of the gift card and sending it to the customer.
Wherein the transaction is stored in the form of blocks and a blockchain is prepared by a sequence of blocks.
In another embodiment, a request is sent to the database for registration of the user. After that, all the customer information is gathered such as full name, user name, password and all the information is stored in the database. Customer care unit accepts a customer request for issuing gift card for a minimal currency. Payment unit processes the payment for the requested value or gift card using external payment processor. The transaction is confirmed using blockchain and image of the gift card is sent to the customer.
In another embodiment, system is extended to execute instructions where a customer owning a value or gift card transfer it to some other person. The new transaction of the transfer of ownership gets recorded on the block chain. The system is extended to execute instructions where a customer owning a value or gift card may split it into more than one value cards with sum of the values equaling the parent card value in a same or different currency. In present system, a customer owning more than one value or gift card may merge them into one single aggregated value card. System is extended to execute instructions where a customer owning more than one value or gift card may merge them into one single aggregated value card and issued in different currency. A customer can purchase a value or gift card for some other identifiable person and a customer can send the value or gift card to a recipient for some intended purpose.
In another embodiment, a customer can send the gift card to a recipient for acquiring a physical or digital good. System sends notification to the recipient of the gift card by email or SMS informing about his ownership of the new gift card. Owner of a value card may redeem it for a merchant card. The system connects with external merchant systems and makes purchase of the merchant store cards. A customer is communicated when a value or gift card is redeemed against a merchant store card. The card owner redeem the card for currency it is purchased in. system connect to external financial systems to initiate deposit of the redeemed value. Owner of a value card may redeem it at the store front in exchange for physical or digital goods. The present invention executes instructions where concept of color coin used to write transactions on public blockchain. Blockchain is shared with other participants in the system who may be given the right to write transactions and create blocks.
In another embodiment, a customer directly purchase a value card or gift card for some other identifiable person. A customer specifies the name, address, email address and telephone number of the person a gift card is meant for. If the receiving person is already a customer, an unspent transaction is created and written to the blockchain. However, if the recipient is not a customer, system sends communication to the recipient via email and SMS that he has been gifted a value card by said person for specific value. In this, system wait for the confirmation of the transaction on blockchain and upon confirmation generate an image of the gift card and initiate physical delivery.
In another embodiment, a customer owning multiple value or gift cards may merge them into one single card of aggregated value. A user logs into the system and chooses the cards to be merge into one card. Once his selection is finalized, system ask to confirm and after confirmation generates a new unspent transaction with aggregate value and write it to the blockchain. It is finalized upon the confirmation of the transaction on the blockchain.
In another embodiment, a customer owning a gift card of certain value y choose to split it into multiple cards of different denominations. A user logs into the system and selects an existing card of higher value to split. User chooses the cards and their values to be split into. The system provides option to split into multiple cards of different denominations with sum total value of children card equaling the parent card. User confirms his action and upon confirmation system generated multiple unspent transactions and writes them on the blockchain. The systems waits for the confirmation of the transaction on the blockchain and upon confirmation, he children cards get finalized and new cards are made available in the customer's wallet. Now each child card can be gifted or transferred independently.