Method and system for performing secure electronic monetary transactions

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO

6058189

SERIAL NO

08879708

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ATTORNEY / AGENT: (SPONSORED)

Importance

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Abstract

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A secure electronic monetary transaction system (SEMTS) provides absolute security for electronic financial transactions. These transactions can be of any kind provided they are numeric in content and of known length. The SEMTS encrypts and decrypts source numeric data using a private, numeric key known only by both parties in the transaction. The secure distribution of these keys will be under the same methods that the financial institutions use to distribute the original source data such as credit cards, account numbers, etc. The system uses nine simple, open formulas for translating source numbers into encrypted cipher numbers. These formulas return every possible value, except the input value, and are completely dependent on the key. Because there are no hidden parts, the architecture of the SEMTS is completely available to anyone in the public sector. This open architecture makes stealing the cipher numbers worthless. The only way to break a number is to know the key. The only way to get the key is to physically steal it, which is the exact same risk entailed in the original source, e.g., a credit card. The total openness and absolute security delivered by the SEMTS is what is missing in all other available financial transaction schemes, and it is what is required by the public to have complete confidence in electronic financial transactions.

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First Claim

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Patent Owner(s)

Patent OwnerAddressTotal Patents
MCGOUGH, PAULCENTREVILLE, VA6

International Classification(s)

  • [Classification Symbol]
  • [Patents Count]

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
McGough, Paul Centreville, VA 6 263

Cited Art Landscape

Patent Info (Count) # Cites Year
 
LUCENT TECHNOLOGIES INC. (1)
* 5754652 Method and apparatus for secure pin entry 33 1994
 
HIRSCH ELECTRONICS CORPORATION (1)
* 4479112 Secure input system 51 1982
 
SECURE KEYBOARDS LIMITED, A LIMITED PARTNERSHIP OF CA. (1)
* 4333090 Secure keyboard input terminal 41 1980
* Cited By Examiner

Patent Citation Ranking

Forward Cite Landscape

Patent Info (Count) # Cites Year
 
Other [Check patent profile for assignment information] (3)
* 2003/0159,061 Secure electronic monetary transaction system 0 2002
8600830 System and method for providing a payment to a non-winning auction participant 18 2010
* 2011/0004,513 SYSTEM AND METHOD 43 2010
 
AUBURN UNIVERSITY (9)
7774841 System and method for protecting network resources from denial of service attacks 7 2004
* 2005/0144,352 System and method for protecting network resources from denial of service attacks 8 2004
7937759 System and method for protecting communication devices from denial of service attacks 9 2007
* 2007/0266,241 SYSTEM AND METHOD FOR PROTECTING COMMUNICATION DEVICES FROM DENIAL OF SERVICE ATTACKS 17 2007
8127355 System and method for protecting network resources from denial of service attacks 5 2010
* 2010/0242,112 SYSTEM AND METHOD FOR PROTECTING NETWORK RESOURCES FROM DENIAL OF SERVICE ATTACKS 6 2010
8261350 System and method for protecting communication devices from denial of service attacks 4 2011
* 2011/0099,630 SYSTEM AND METHOD FOR PROTECTING COMMUNICATION DEVICES FROM DENIAL OF SERVICE ATTACKS 5 2011
8510831 System and method for protecting network resources from denial of service attacks 2 2012
 
ST. LUKE TECHNOLOGIES, LLC (3)
7587368 Information record infrastructure, system and method 120 2001
8904181 System and method for secure three-party communications 15 2012
9419951 System and method for secure three-party communications 0 2014
 
MCGOUGH, PAUL (5)
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8144874 Method for obtaining key for use in secure communications over a network and apparatus for providing same 2 2007
8144875 Method and system for establishing real-time authenticated and secured communications channels in a public network 1 2007
* 2008/0065,886 Method and system for establishing real-time authenticated and secured communications channels in a public network 3 2007
 
Miri Systems, LLC (9)
7107242 Electronic transaction security method 12 2000
8181861 Electronic transaction security system and method 1 2008
* 2010/0089,998 Electronic Transaction Security System and Method 2 2008
* 2011/0022,472 PAYMENT SYSTEM AND METHOD 13 2010
9094209 Electronic transaction security system 0 2010
9004351 Electronic transaction security system and method 0 2013
8893961 Electronic transaction security system and method 0 2013
2013/0138,566 Electronic Transaction Security System And Method 1 2013
9430770 Electronic transaction security system and method 0 2015
 
Felsher, David (1)
7181017 System and method for secure three-party communications 490 2002
 
Veratad Technologies, LLC (2)
7676681 Method, system, and apparatus for identification number authentication 5 2003
* 2005/0005,113 METHOD, SYSTEM, AND APPARATUS FOR IDENTIFICATION NUMBER AUTHENTICATION 5 2003
 
RELEVANT SECURITY CORP. (1)
* 2006/0034,456 Method and system for performing perfectly secure key exchange and authenticated messaging 34 2005
 
AUNIGMA NETWORK SECURITY CORP. (3)
8370920 System and method for providing unified transport and security protocols 4 2009
* 2011/0099,623 SYSTEM AND METHOD FOR PROVIDING UNIFIED TRANSPORT AND SECURITY PROTOCOLS 10 2009
8745723 System and method for providing unified transport and security protocols 0 2012
 
Aunigma Network Security Group (1)
9438592 System and method for providing unified transport and security protocols 0 2014
* Cited By Examiner