MUMBAI, India, Aug. 10 -- Intellectual Property India has published a patent application (202611074540 A) filed by Manipal University Jaipur on June 16, 2026, for Flowpay: A Blockchain-Based Payment System For Secure And Low-Cost Global Transactions.
Inventors include Krish Panwar; and Dr. Shally Vats.
The application for the patent was published on July 31, 2026, under issue no. 31/2026.
Abstract: The present invention relates to FlowPay, an end-to-end blockchain payment system for mobile platforms. The payment system comprises a frontend layer, a backend layer, a blockchain layer, a wallet generation module, a credential management module, a transaction processing module, a balance monitoring module, a transaction history module, and a currency conversion module. The frontend layer provides a user-friendly interface for cryptocurrency transactions. The backend layer manages user authentication and stores user and transaction information. The blockchain layer validates and executes secure cryptocurrency transactions. Digital wallets and private keys are automatically generated for users during registration. Wallet credentials are securely stored to prevent unauthorized access. The system enables peer-to- peer cryptocurrency transfers through digitally signed transactions. Account balances and transaction histories are updated and monitored in real time. Currency conversion is performed using external exchange-rate data sources. Invalid addresses and insufficient balances are detected before transaction execution. Blockchain validation ensures transaction integrity, transparency, and immutability. The payment system provides fast, low-cost, secure, decentralized, and globally accessible digital payment services while allowing users to retain control over their funds.
Disclaimer: Curated by HT Syndication.
