MUMBAI, India, July 24 -- Intellectual Property India has published a patent application (202611063231 A) filed by Rakesh Kumar Garg on May 19, 2026, for System And Method For Controlled Merchant Discount Settlement Using An Inflation-Linked Digital Utility Token.
Inventor includes Rakesh Kumar Garg.
The application for the patent was published on July 17, 2026, under issue no. 29/2026.
Abstract: The present invention relates to a system and method for controlled merchant discount settlement using an inflation-linked digital utility token. The system (100) comprises a registration and identity verification module (1), a merchant authorization module (2), a digital wallet management module (3), an inflation index acquisition and normalization module (4), an appreciation and settlement rule engine (5), a token issuance and controlled release module (6), a transaction validation and internal transfer controller (7), a merchant point-of-sale and application programming interface gateway (8), a tamper-evident audit ledger module (9), and a compliance and reporting module (10). The system is configured to register users and merchants, generate wallets, acquire inflation- related indicators, compute appreciation and settlement values, issue tokens under a capped release condition, validate internal wallet- to-wallet transfers, redeem tokens at authorized merchant endpoints, record transaction events in an immutable ledger, and generate compliance outputs. The invention further includes sale-threshold control, tier-based entitlement management, and anomaly detection for secure and auditable operation. The invention provides a technically controlled merchant utility-token infrastructure for structured discount allocation, purchasing-power-oriented settlement, and regulated internal digital commerce.
Disclaimer: Curated by HT Syndication.
