The examples below are only some out of an almost endless list of possible applications.
In fact, the patent’s simplicity enables a variety of implementations. Is such, it is comparable with the invention of DNS, enabling the World Wide Web. Although extremely simple (i.e. linking IP addresses to domain names), it enables consulting websites, e-commerce, music streaming, cloud applications and many, many more.
As shown below, utilization is as simple as child’s play.
Example 1. Accident Insurance Claim
What if you need to exchange information in an “authenticated” manner (i.e. one needs to be sure the other party is who he claims to be) without revealing your personal information such as your private address, phone number or birthdate. Just imagine a car accident with an aggressive opponent. Clearly, you do not want to directly exchange your private data with.
SCUYE helps to make insurance declarations anonymous and less stressful for the users, yet fully authenticated to the insurance companies. No personal details are exchanged amongst persons, while the opponent’s identity is guaranteed (i.e. he really is covered by the insurance) and the insurance is validated.
Only the insurances know the identity of the counterparty. At the same time they save costs as labor intensive data entry processes are automated.
Example 2. Entry Ticket Authentication
Tickets are currently only checked for their validity – no identity check is carried out. This opens the door to a private (black) secondary market, but it also represents a security risk.
SCUYE enables authenticated and truly personalized tickets, refundable and resalable by the issuer. This validation process also opens additional communication and sales channels for the issuer, delivering additional services to the user.
Example 3. Enabling Pay-upon-Delivery in E-commerce
E-commerce typically works with some form of insured pre-payment, such as payment by credit card. The seller pays a credit card fee, the buyer pays the full price.
SCUYE can help the buyer to pay the seller upon reception of goods. In exchange for not using a credit card (with relatively high transaction fees), the seller can give a discount to the buyer. Besides services rendered to both seller and buyer, banks are back in the value chain.
Example 4. Disintermediation, enabling consumers to sell their consumer data
Consumer brands do not fully understand the consumption patterns of their customers, which causes billions of Euros of wasted advertise spending.
SCUYE enables disintermediation by allowing consumers to sell their own consumption data to the manufacturers, and it can help advertisers to understand consumption- and product- lifecycle-patterns better. As a result, customer as well as manufacturers get rewarded (lower cost, higher margin, lower price etc.) not paying for useless intermediates.
Example 5. Paying invoices without being afraid of being scammed.
Typical a remittance (on paper or electronically) works by transferring data (bank details, amount to pay …) from seller to buyer and from buyer to the buyer’s bank. A hacker can intercept and modify the connection, the device or the data. When the buyer’s bank gets data, that data is well formatted and they will ask buyer to conform. But is the data correct?
SCUYE enables the bank details to be directly (out of band) transferred from the seller to the buyer’s bank, not passing through the device, nor the (data)connection of the buyer. If now the bank asks confirmation, that data can’t be manipulated by the hacker without being noticed by the buyer.