Incentive mass financing system with blockchain security for internal innovation by organization

Abstract

The present invention relates to mass fund raising for innovations, including distributing proposals having a description of a project thought, an amount of funds requested, and a time range for raising the funds. The ownership of the project is transferred to or between entities that receive the funds from the investor, and for each of the received funds, convert the funds to a corresponding amount of virtual money, perform blockchain operations on the money, and add the funds to the funds. A blockchain operation is performed on the virtual currency to uniquely identify and track the virtual currency, thereby establishing a confidence for transactions between the investor and the entity or between the entities. If the financing target is completed within the time range, the entity converts the currency to a legal currency and releases money to the requester. After completion of the project, one or more entities determine whether the project is successful and may commercialize the successful project. For certain successful items, the one or more entities may also allocate funds to the investor.

Description

Background Art

[0001] Crowdfunding is a way to fund a project by raising many small amounts of money from a large group of people. An example is the Kickstarter innovation website from Kickstarter, Inc. (headquartered in Greenpoint, Brooklyn, USA). The Kickstarter site can be used to fund creative projects via crowdfunding, and Kickstarter retains a portion of the funds as its fees. The creator of the project retains all ownership. Supporters often help fund their friends' projects and can see the creative process when the project occurs. Moreover, supporters can receive copies of finished creative works, such as books or CDs. Since the project creator retains the ownership of the project, this type of financing may not be desirable for corporate financing of projects or ideas, where if the project is successful, the company wants to retain the ownership of the project in order to commercialize it. Summary of the invention

[0002] A computer-implemented method for crowdfunding of innovation consistent with the present invention includes distributing a proposal with a description of the project idea, the amount of funds requested, and a time frame for raising the funds. Ownership of the project is transferred to an entity. In response to the proposal, the entity receives contributions from contributors, and for each contribution received, the entity converts the contribution into a corresponding amount of coins on which blockchain operations are performed, and adds the contribution to the funds. If the fundraising goal is met within the time frame and within the amount of reservoir funds available for the project, the entity releases an amount of money corresponding to the amount of coins in the funds. The entity determines whether the project is successful after the money is released. If the project is successful, the entity may optionally distribute the funds or bonuses converted from the coins to the contributors. BRIEF DESCRIPTION OF THE DRAWINGS

[0003] The accompanying drawings are incorporated in and constitute a part of this specification and together with the description explain the advantages and principles of the present invention.

[0004] Figure 1 A diagram of a system for incentivized crowdfunding;

[0005] Figure 2 is a flow chart of a method for receiving proposals for crowdfunding;

[0006] Figure 3A and Figure 3B A flowchart for the methodology used for incentivized crowdfunding;

[0007] Figure 4 A diagram of a user interface for requestors to submit proposals;

[0008] Figure 5 A diagram of a user interface for contributing to a proposal;

[0009] Figure 6 A diagram of a user interface for allocating coins to a pool of potential contributors;

[0010] Figure 7 is a diagram of an exemplary icon for a coin;

[0011] Figure 8 A diagram of a user interface for submitting proposals and monitoring their status; and

[0012] Fig. 9 Diagram of the blockchain structure used for a crowdfunding system. DETAILED DESCRIPTION

[0013] Embodiments of the present invention include a combination of a crowdsourced idea generation electronic website and crowdsourced funding for corporate innovation. The actual funding comes from internal corporate sources based on contributions from individuals, because the ideas and projects that will be created and funded and ultimately produced will be the sole property of the company that employs the crowd. But the decision on what to fund will depend entirely on the individuals (internal crowd) who place funds on the projects and ideas they think are suitable. These ideas are also crowdsourced. For example, this combination provides new ways for corporate innovation and the commercialization of ideas. Examples of crowdfunding systems for innovation are disclosed in U.S. Patent Nos. 10,896,391 and 10,740,734, both of which are incorporated herein by reference as if fully set forth.

[0014] Figure 11 is a diagram of a system for incentive crowdfunding. The system includes funder computers 10, 20, and 22 for contributing to a project. The funder computer 10 may include a processor 12, an input device 14 for receiving information or commands, an electronic display device 16 for displaying information, and an output device 18 for outputting other forms of information such as audible information. The funder computers 20 and 22 may include the same components as the funder computer 10, or be configured in the same manner as the funder computer. The funder computers are electronically coupled to a network 24 such as the Internet or a corporate intranet. A physical computer system 26 is also electronically coupled to the network 24. The physical computer system 26 may include computer applications used within large or small organizations, and such systems may include electronic mail (email), accounting systems, record keeping systems, electronic databases, and computers for hosting internal websites. For illustrative purposes, only three funder computers are shown, and the system can be expanded to include a large number of funder computers coupled to the physical computer system 26 via the network 24 sufficient to fund a project. The entity may be, for example, a company, a partnership or other organization involved in developing ideas for an innovation. The entity controls the entity computer system 26 directly or indirectly.

[0015] Figure 2 Flow diagram of a method 30 for receiving proposals for crowdfunding. The method 30 may be implemented in software for execution by a computer, such as one of a funder's computer or other computers coupled to the entity's computer system 26 via a network 24. In the method 30, a requester electronically submits a proposal for funding (step 32). The requester may be, for example, an individual such as an employee or consultant of the entity. The requester may also be, for example, a group of individuals, such as a team of employees of the entity.

[0016] Figure 4Figure 90 is a diagram of a user interface for a requestor to submit a proposal. The user interface 90 may be displayed on an electronic display device of a computer for a requestor to submit information. The user interface 90 includes a section 92 for identifying the requestor, a section 94 for describing the proposal or idea, a section 96 for identifying the amount of funds requested, and a section 98 for indicating a time frame for generating the requested funds. The proposal in the user interface 90 may be described in text, photos, videos, or other multimedia content. The user interface 90 may also include a reservoir meter 95, a funds meter 97, and a time meter 99 to provide a visual representation of the following: the amount of money remaining in the reservoir and available for this proposal in meter 95; the funds currently obtained or collected in meter 97; and the time remaining to reach the funding goal in meter 99. Meters 95, 97, and 99 may be implemented with icons in the user interface 90. For example, the repository meter 95 may include a bar that decreases in length as coins from the repository are used to fund the proposal, the funds meter 97 may include a bar that increases in length as funds are collected, and the time meter 99 may include a clock that counts down to show the amount of time remaining. Meters 95, 97, and 99 may provide a way for both requesters and potential funders to view the status of crowdfunding for a proposal.

[0017] Figure 8 FIG. 1 is another and stylized user interface 130 for submitting proposals and monitoring their status. The user interface 130 may be displayed on an electronic display device of a computer for a requester to submit proposals for a project and monitor status information related to the proposal. The user interface 130 may be implemented as a customizable template for various groups within an entity, for example.

[0018] The user interface 130 includes a section 132 to indicate how many proposals the requestor has submitted. For example, different types of icons displayed in section 132 may indicate how many proposals the requestor has submitted, and as another example, Figure 8The light bulb icon shown may indicate that this proposal is the first idea submitted by this requester. Instead of displaying different types of icons, the light bulb icon may optionally be shown in different colors to provide an indication of how many proposals this requester has submitted, or include a number displayed with the icon to indicate the number of submitted proposals. In addition to or in place of the light bulb icon, section 132 or other portions of user interface 130 may also include icons to indicate other information related to the requester. For example, a specific type of badge icon may be displayed and used to indicate how many proposals the requester has funded, how many of the proposals that the requester has funded have been considered successful, or how many of the proposals of the requester have been considered successful. For example, a badge icon of a gold circle shown may indicate that this requester has funded at least three proposals that have resulted in successful projects, and a badge icon of a silver circle shown may indicate that this requester has funded at least one proposal that has resulted in a successful project. As another example, a badge icon of a gold star shown may indicate that this requester has submitted at least three proposals that have resulted in successful projects, and a badge icon of a silver star shown may indicate that this requester has submitted at least one proposal that has resulted in a successful project. Thus, displaying these badge icons may provide information useful to a contributor, for example, in deciding whether to contribute to this particular proposal and, if so, how much to contribute. The term "badge" is used merely as a label to identify the type of information conveyed by the corresponding icon. Section 134 may display information about the requestor, such as a photo of the requestor and the requestor's name, the department to which the entity is assigned, and the geographic location.

[0019] The section 136 corresponding to the fund meter 97 can display an indication of the current financing obtained for the proposal and the total amount of funds requested. In this example, the section 136 displays a bar that increases in length as funds are obtained, and the total length of the bar indicates the amount of funds requested. The amount of funds currently obtained and the amount requested can also be displayed in the text adjacent to the bar. The section 138 corresponding to the time meter 99 can display an indication of the remaining time to raise funds for this proposal, which is the remaining number of days in this example. Section 140 can display an indication of the status of the proposal, which is in the process of obtaining funds and has not yet been approved in this example. Section 140 can be updated to display indications of other states of this proposal, such as the proposal has been approved or completed. Section 142 can describe a proposal or idea for a project submitted by the requester, and the proposal in section 142 can be described in text, photos, videos or other multimedia content. Section 142 can optionally include a link (electronic network address) to additional information about the proposal.

[0020] Section 144 may display an indication of the amount of money available to the requester to contribute to the offer. For example, each darkened icon in section 144 may correspond to a particular amount of money available to the requester to contribute to the offer. For example, each darkened icon may represent one hundred coins, and the value represented by each icon in section 144 may also be displayed. The icons in section 144 are shown as darkened circles and non-darkened circles for exemplary purposes, and the icons may be displayed as shown in FIG. Figure 6 and Figure 7 The section 146 corresponding to the reservoir meter 95 may display an indication of the total amount of funds available in the reservoir. In this example, the section 146 displays a bar of decreasing length and a series of bars of decreasing illumination as funds from the reservoir are used to contribute to this proposal.

[0021] Thus, the user interface 130 may display in section 138 a time meter that visually indicates the amount of time remaining to obtain the requested amount of funds for the project, in section 136 a funds meter that visually indicates the amount of funds currently obtained for the project, and in section 146 a reservoir meter that visually indicates the amount of funds available for the project by contributors who are eligible to use reservoir funds to contribute to the project. As contributions to the project are received, the user interface 130 may also display changes to the funds meter and the reservoir meter during the amount of time remaining indicated by the time meter, wherein the displayed changes to the funds meter and the reservoir meter correspond to the contributions received. The time meter, funds meter, and reservoir meter may also be implemented with various colors to further visually indicate the status of the remaining time, the current funds obtained, and the funds remaining in the reservoir, respectively. Contributors to the proposal identified in section 142 may be able to access the user interface 130 to monitor the status of the proposal and view the meters for the proposal.

[0022] exist Figure 2In method 30, the entity records the proposal via the entity computer system 26 (step 34). The entity also determines whether to approve the proposal for crowdfunding. For example, the proposal may be approved by a committee of members with voting rights to approve or reject the proposal. If the proposal is rejected, the entity may send a rejection message, such as via email, to the requester from the entity computer system 26 via the network 24 (step 36). For example, if all syntax or information for the proposal is incomplete, the proposal may be rejected even if the idea itself would be approved. What will be done is to review the proposal to determine whether to approve or reject the proposal to determine whether the proposal is complete and does not restrict the idea, but in some embodiments, the review may be performed to approve or reject the actual idea proposed. If the proposal is approved, the entity broadcasts the proposal to potential funders (step 38). The proposal may be broadcast as an email to qualified funders of the project, or the proposal may be posted on the entity's internal website, and a message, such as an email or text message, may be sent to the qualified funder to notify the funder of the proposal.

[0023] Figure 3A and Figure 3B Flowchart of a method 40 for incentivized crowdfunding. The method 40 may be implemented in software for execution by the funder computers 10, 20, and 22 and the entity computer system 26. In the method 40, a pool 41 of potential funders, as represented by funders 42, 44, and 46, may review a proposal and make contributions to fund the proposal. For illustrative purposes, only three contributions are shown; funds may come from a wide number of funders. A funder may, for example, be an individual such as an employee or consultant of the entity. A funder may also, for example, be a group of individuals, such as a team of employees of the entity.

[0024] Figure 5 FIG is a diagram of a user interface 100 for contributing to an offer. The user interface 100 may be displayed on an electronic display device of a computer for an investor to contribute. The user interface 100 includes a section 102 for identifying an investor, a section 104 for identifying an offer to which the investor is contributing, and a section 106 for indicating the amount of the contribution to this offer. For example, the amount contributed may be billed to the investor or assessed as a payroll deduction. If the investor provides money for funding, the amount contributed may be deducted from the investor's money account. The user interface 100 may also include a section 107 for displaying an indication of the amount of money remaining for the investor, and a section 109 for displaying an indication of the time remaining for the investor to spend money on the offer. The virtual money represented in section 107 may also include money from a repository that can be used to fund this offer and that this investor can use to fund the offer.

[0025] Each of the contributions 42, 44 and 46 of the funder may be selectively subjected to a corresponding incentive multiple (steps 48, 50 and 52, respectively). The incentive is provided in part by a multiple that can increase the potential return based on specific criteria, such as the country in which the funder's headquarters is located, the group or department to which the funder is assigned, the number of successful projects to which the funder has funded, or other criteria that encourage certain individuals or groups to participate. As an example, the incentive multiple may be 1.5 or 2.0, so that if the project is successful, the corresponding funder receives 1.5 times or twice the original contribution, respectively. Instead of using company or entity funds to make a large internal grant, company funds can be used to encourage participation by providing potential returns based on incentive multiples. When the proposal is broadcast, the entity may optionally include an identification of the incentive multiple for the project. For example, if the entity wants to encourage the participation of employees of the entity headquartered in Europe, the entity may indicate that any funder headquartered in Europe will receive an incentive multiple and an indication of such multiple. As another example, if an entity wants to encourage participation by employees who work in the same group or department as the requestor, the entity may indicate that any of these employees who are contributors will receive an incentive multiplier.

[0026] In addition, in order to provide for raising many small amounts of money, each contribution represented by contributions 42, 44 and 46 can be limited to a certain percentage of the funding goal (the requested amount), such as 5% or 1%. For example, if the requested amount of funds is $10,000, the entity can limit each contribution to 5% of that amount or $500. As another example, the entity can establish a monetary limit such as $100 for each contribution proposed. If used, other percentages or monetary limits are also possible. These limits can help encourage a large number of contributors to participate, as is usually expected for crowdfunding. If a single contribution exceeds the limit when used, the contribution will not be accepted, and the corresponding contributor may be notified that the attempted contribution exceeds the limit.

[0027] After selectively adjusting by the incentive multiple, contributions 42, 44 and 46 are converted into corresponding coin amounts (steps 54, 56 and 58, respectively), and the resulting amounts are added to the funds in step 60. Coins can be used as artificial or virtual currencies. In particular, coins are digital currency amounts that preferably represent legal tender amounts in a single currency. Tokens are also digital currency amounts that represent legal tender amounts. In the crowdfunding process, tokens can be used instead of or in addition to coins. Coins can also be branded to convey specific company messages or link the history of an organization (entity) to important people or events in the life of the organization. Therefore, coins provide a way to convert contributions in multiple currencies into a common monetary unit and communicate with requesters and contributors.

[0028] Existing currency conversion rates can be used to convert from the currency of the funder to coin, or an artificial conversion rate for converting to coin can be generated. When the funds are spent for the successful project, the conversion rate for converting to coin is saved to potentially convert back to currency later. The currency type of coin can be, for example, the currency of the country of the requester. For example, if the headquarters of the requester is located in the United States, the coin can represent the US dollar of the funds for this requester, and if the contribution of the funder is not in the form of US dollars, it is converted from the origin currency to US dollars. For example, if the headquarters of the funder is located in Europe and the headquarters of the requester is located in the United States, the contribution of the funder can be converted from the euro to the US dollar using the current conversion rate (when contributing). If used, the artificial conversion rate can be another way of providing incentives by establishing a conversion rate greater than the existing conversion rate between specific currencies.

[0029] In addition, instead of contributing fiat currency, contributors can earn coins through specific activities, such as publishing technical papers, the number of patents granted to the contributor, or the contributor's rating determined by performance reviews. The coins earned can optionally have an expiration date, such as at the end of the entity's current fiscal year.

[0030] Instead of or in addition to earning coins, the entity may allocate coins to the potential funder pool 41 in step 51. In particular, the entity may replenish coins to the funder pool. The entity may also replenish coins in the repository in step 53. The repository may represent the total amount of coins that can be used to fund a proposal, and may have restrictions on the following: the funders who can use the coins in the repository, the proposals for which the funders can use the coins in the repository, and the amount of coins that each qualified funder in the repository can use to fund the project. For example, the total amount of coins in the repository may be reserved for use only by employees in a specific department of the company, wherein each of these qualified employees is only allocated a certain amount of coins in the repository, and as another example, the amount of coins is only for use within a specific time frame. As other examples of such restrictions, the coins in the repository may be limited to use only by employees in a specific geographic area or only by employees who have previously contributed to a specific number of successful projects. Therefore, for example, the repository may include several coin repositories based on these restrictions. For step 53, the entity may regularly replenish the money in the treasury, for example, the entity may replenish the treasury every calendar quarter or every fiscal quarter of the entity. The entity may also replenish the money in the treasury at other times or according to other criteria.

[0031] The coins and repositories in step 51 and step 53 are usually owned by the entity. In other embodiments, the coins and repositories may be owned by different entities, and the funders (e.g., employees and contractors) of the entity use the coins and repositories to work for different entities. The coins and repositories may optionally be branded or marked by different entities. In this way, different entities basically use their coins to finance the work that the entity does for different entities. For example, a company does work for another company and does work financed by the other company. This embodiment may also include an entity doing work for many different entities, each of which has and owns its own coins and repositories that can be securely tracked via blockchain operations as described below. When working for different entities and doing work financed by different entities through coins and repositories owned by different entities, the entity can still own the idea and set incentive multiples for the process.

[0032] This allocated coin, and possibly earned coin and coin in the treasury, can be owned by the entity and licensed to contributors, where the license specifies how the coin can be used and the time limits on the coin. For example, the license may include the following terms: the coin can only be used to fund proposals of qualified requesters; the coin represents the value of legal tender, but has no monetary value itself; and the coin must be used within the entity's current fiscal year, otherwise the coin expires.

[0033] Figure 6 FIG. 1 is a diagram of a user interface 110 for allocating or sending coins to a pool of potential investors. The user interface 110 may be displayed on an electronic display device of a computer for a potential investor to receive coins. The user interface 110 includes a section 112 for displaying a coin icon representing a coin, a section 114 for displaying the amount of coins (unit quantity) to be allocated or sent to a potential investor, and a section 116 for displaying the time limit for using the allocated coins. If the coin is licensed to a potential investor, the investor may select an accept button on the user interface 110 to accept the terms of the license and receive the coin into the investor's coin account in accordance with the license. The investor may review the terms of the license in the user interface 110 or another associated user interface. The value of the allocated coin may be based on, for example, a specific offer. As an example, if the proposed requester is headquartered in the United States, one coin (one unit) may be equal to one US dollar. As another example, if the proposed requester is headquartered in Europe, one coin (one unit) may be equal to one EU euro.

[0034] As indicated above, the coins may optionally be branded. Figure 7A diagram of an exemplary icon 122 for a currency to be displayed on an electronic display device or screen represented by dashed line 120 (e.g., as currency icon 112 in user interface 110 or as a currency icon in section 144 of user interface 130). This exemplary icon 122 resembles a monetary currency and may include an entity name or brand (which may be stylized) and a message as shown.

[0035] exist Figure 3A and Figure 3B In method 40, the entity computer system 26 determines whether the funding goal is achieved within the specified time frame for the contribution and optionally within the total amount available in the repository for this proposal (step 62). If the funding goal is not achieved, the entity computer system 26 can add more time to raise funds (step 64), or delete the funds (step 65) and return any coins to the investor (step 66). Deleting the funds in step 65 means that the investor is not charged the fiat currency amount they proposed to contribute, and if the investor originally used the earned coins as the proposed contribution, these coins are returned to the investor coin account in step 66. If more time is added to raise funds, the requester can optionally refine the proposal and resubmit the proposal.

[0036] In addition, if more time is added in step 64, the entity may also change the value of the coins in the repository for this offer (step 55), or add more coins to the repository for this offer (step 57), or perform both steps 55 and 57. Changing the value of the coins in the repository for this offer can effectively increase the amount of funds available for this offer. For example, the entity may initially set the value of the coins in the repository to one coin representing one dollar, and then change the value of the coins in the repository to one coin representing ten dollars. In some cases, the entity may change the value of the coins in the repository for this offer by reducing the value, for example, if more coins are added to the repository to raise funds for this project.

[0037] If the funding goal is met within the time frame (step 62), the entity computer system 26 converts the coins for the proposal into legal tender and releases the money to the requester (step 68), and the project is ongoing (step 70). If coins from the repository are used to fund this proposal, the entity computer system 26 removes the corresponding amount of coins from the repository (step 67). In addition, the entity computer system 26 may provide the funder with a notification that the proposal funded by the funder has met its funding goal and the corresponding project is ongoing (step 69). This notification may include, for example, an email message, a posting on an internal website, and a change of status in section 140 of the user interface 130.

[0038] By using a coin to represent the digital currency amount, the legal tender used for the financing can optionally be released locally to the requester in the country where the requester's headquarters is located. For example, if the entity's headquarters is located in the United States and the requester's headquarters is located in Europe, the entity can instruct the entity's European department to release the legal tender to the requester rather than transferring the money from the United States to a European location or account. For example, the legal tender can be released by providing an electronic transfer of funds to the requester's repository account or by writing a check to the requester. In addition, for example, by using a coin to represent the digital currency amount, the legal tender for the project is only paid when the project is approved.

[0039] When starting a project, the requester transfers ownership of the data for the project to the entity (steps 72 and 74). Transferring ownership of the data may include transferring intellectual property rights in the data, such as any applicable patents, copyrights, trademarks, and trade secret rights. While the project is ongoing, the status of the project may be provided to the funder, for example, by an email message or electronic posting, allowing the funder to track the progress of the project to which they have contributed funding.

[0040] When the project time is completed, it is determined whether the project was successful (step 76). If the project is not successful, the project ends and no funds are returned to the funder, assuming the risk of financing the project (step 78). If the project is successful, the project may enter commercial production by the entity (step 80). For example, the project can be considered successful if the project can produce a commercial product for the entity, if the project produces a working prototype, or according to other criteria. In addition, the requester transfers ownership of the project to the entity (step 86 and step 74). Transferring ownership of the project can include transferring ownership of any resulting prototypes or other physical items and transferring intellectual property in the project, such as any applicable patents, copyrights, trademarks, and trade secret rights.

[0041] The entity computer system 26 records the data of the project (step 84), and optionally pays funds to the investor, which are adjusted by the corresponding incentive multiple and converted from the coin to the currency of the investor using the corresponding conversion rate (step 82). When executing step 82, the funds or bonuses can be paid out by, for example, electronic transfer to the investor's repository account or by writing a check to the investor. If the project is funded with coins allocated to the potential investor pool, the entity may not perform step 82. If the project is partially funded by the investor's money converted into coins, the entity may decide to perform step 82 for those types of contributions. Alternatively, for step 82, the investor or selected investors among the investors may receive a type of bonus, such as a monetary bonus or an increase in virtual coins, so as to reinvest in other projects using the coins deposited in the investor's coin account. Another type of bonus may involve rewarding successful investors, meaning that investors who have contributed to the project are considered successful. The number of successful projects of the funder can be tracked, and the funder who contributed to such successful projects can be rewarded with additional or increased amounts of virtual coins to reinvest in other projects. This bonus for contributing to successful projects can be, for example, a set coin amount for each successful project or an increased coin amount based on the number of successful projects. Thus, those funders who have a proven record of contributing to successful projects can be rewarded with more coins and encouraged to invest in more proposals that they believe will produce successful projects.

[0042] In addition, if the project is successful, the entity computer system 26 may receive optional feedback from the funder for the proposal corresponding to the project (step 85). The feedback from the funder on the project may include the following information: an approval vote indicating approval of the completed project; a veto vote indicating disapproval of the completed project; an indication that the project did not meet the funder's expectations; or an indication that the project exceeded the funder's expectations. For example, the feedback may be provided in a portion of a user interface such as user interface 100 or 130.

[0043] Security features may be incorporated into this crowdfunding system based on various criteria, such as groups or geographic regions. For example, if an offer is only available for funding by contributors within a particular group or department of an entity, only those contributors may be granted access to information about the offer. As another example, if an offer is only available for funding by contributors within a geographic region, only those contributors within that geographic region may be granted access to information about the offer.

[0044] Table 1 provides an example of a data structure for awarding coins to contributors based on specific activities. Table 2 provides an example of a data structure for recording a conversion rate for converting a contribution into a corresponding amount of coins. Table 3 provides an example of a data structure for recording data for contributions to a specific project. Table 4 provides an example of a data structure for recording coins allocated to potential contributors. Table 5 provides an example of a data structure for recording project data. Table 6 provides an example of a data structure for a coin repository divided into multiple repositories, each of which has a set of requesters who are eligible to use coins from the repository for their proposals and a group of contributors who are eligible to use coins from the repository to contribute to these proposals. Tables 1 to 6 represent data structures to be stored in a computer memory or electronic database for access by a physical computer system or other computer.

[0045]

[0046]

[0047]

[0048]

[0049]

[0050]

[0051] The crowdfunding method described above can be implemented, for example, as a software application that integrates with an existing entity computer system. The entity controls the process in part by owning the proposals, projects, and the currency for the projects. The entity also owns the intellectual property rights covering the proposals and projects, thereby providing the entity with an incentive to commercialize successful projects. Thus, this crowdfunding method provides a specific type of crowdfunding that can be useful to organizations as a way to fund innovation and develop ideas internally, in addition to the more common ways organizations fund research and development.

[0052] Fig. 9 A diagram of a blockchain structure for the above crowdfunding system. An embodiment with blockchain includes a combination of a crowdsourced idea generation electronic website and crowdfunding for company innovation. The security and automation of this valuable data set including real funds has been addressed by adding blockchain elements.

[0053] Hosting a crowdfunding system on a blockchain automates key administrative tasks, such as generating a project number for project spending the moment a project reaches its designated funding request level. This feature automates manual tasks and accelerates project timelines, and even more importantly gives project submitters and investors confidence that if their idea is validated by their crowdfunding investment peers, the idea will be funded physically. For example, the ability to guarantee immediate funding without weeks and months of project reviews can encourage participants or funders to advance their creative ideas where they might otherwise hold back because they might not believe they would receive approval to try their idea.

[0054] Using blockchain for crowdfunding systems would enable the creation and marketing of innovative coins that are branded by the entity, which could demonstrate that the entity is at the forefront of innovative digital transformation. The creation of branded coins that can be traded on the blockchain would provide additional incentives for participants or contributors to use the innovation site that hosts the crowdfunding system. The creation of innovative coins such as those described above could also provide marketing opportunities for the entity, which increases the likelihood of monetizing the innovation platform and licensing it to external companies to implement their own crowdfunding initiatives.

[0055] Implementing crowdfunding systems and processes on the blockchain provides security and traceability for project submissions and the crowdfunding process. For budgets contributing to innovation platforms, it is important to understand how and where the money is spent. For investors, it is equally important to know with certainty that their voice is heard through their monetary contributions. The automation, security, immutability, and transparency of the blockchain achieve each of these goals while also allowing the program to easily scale to multiple investors.

[0056] like Fig. 9 As shown, the platform may have 5 nodes, which are broken down into the following: node 152 - boot node, validator node; node 160 - archive node; node 154 - validator node; node 156 - validator node; and node 158 - validator node. These nodes can be implemented using, for example, known blockchain structures and operations.

[0057] Validator nodes (154, 156, 158): Validator nodes are those nodes that participate in the consensus protocol. They are responsible for generating new blocks. For security and efficiency purposes, validator nodes are only connected to each other and to the bootstrap node. Validator nodes apply the IBFT2.0 consensus protocol to verify transactions and incorporate them into new blocks.

[0058] Bootstrap Node (152): The bootstrap node is responsible for establishing a new node by providing it with a list of active nodes in the network and other relevant information such as whitelists and blacklists. The bootstrap node connects to all types of nodes in the network. In a simpler configuration, the bootstrap node is used for initial discovery of peers. The bootstrap node is a regular node that a node connects to at startup. The bootstrap node includes the elements shown in box 162 in the Ethereum Virtual Machine (EVM).

[0059] Full Node: A full node has the current state of the blockchain and therefore cannot serve the network with all data requests (e.g., the balance of an account at an old block).

[0060] Archive Node (160): An archive node has all the features of a full node, and it also stores the intermediate state of each account and contract for each block since the genesis block. An archive node has the functionality of a full node, and it has access to historical state data.

[0061] Peer-to-peer (P2P) networking. For P2P networking, Besu implements the devp2p Ethereum network protocol. This protocol ensures inter-client communication. This protocol also acts as an additional IBFT2 subprotocol. It is discovered using a UDP-based protocol. For communication, it utilizes RLPx - a TCP-based protocol. On the other hand, RLPx uses various subprotocols, including the ETH line protocol (for transaction state synchronization) and the IBF subprotocol (for making consensus decisions).

[0062] Badges / Coins / Token Creation / Development. There may be 2 types of tokens for a blockchain platform used for a crowdfunding system: fungible tokens - coins; and non-fungible tokens - badges. Badges may be awarded to successful inventors in a crowdfunding system, and thus may be used as an incentive multiplier, such as providing more coins to successful inventors.

[0063] Fungible Tokens: Coins or physical innovations Coins are branded tokens, digital currencies, or stablecoin standard tokens whose value associated with a real currency (such as the US dollar) does not change significantly. Coins can be implemented as described above for crowdfunding systems.

[0064] Table 7 includes an example of key elements of a smart contract for innovative token creation. In this example of a smart contract, the public price of the coin has a value of 1. In addition, functions can be used during the life cycle of a fungible token.

[0065]

[0066] Non-fungible tokens (NFT): Badges are NFTs that are characterized by unique properties and cannot be exchanged or replaced with the same token. The smart contract inside the NFT helps store unique and exclusive data that distinguishes the NFT from other tokens that are also known for their indivisibility. Badges are individual tokens, where

[0067] Store additional information. Each badge contains the owner identification (ID), rich metadata, secure file links, and other identification information recorded in its smart contract. Badges can be drafted or generated, for example, via the ERC721 standard for facilitating NFT requirements.

[0068] Fig. 9 The blockchain structure can be found in Figure 1 crowdfunding systems (e.g., contributor computers and physical computers) and Figure 2 and FIG. 3A to FIG. 3B The process of the blockchain structure and the crowdfunding system can be implemented in order to provide secure and traceable transactions throughout the process. The blockchain structure and the crowdfunding system can be applied to a single entity or company to encourage idea development, and can be applied to multiple entities or companies to incentivize and execute crowdsourcing innovation. In each of these cases, the blockchain structure and the crowdfunding system provide a traceable and immutable investment record required to achieve multi-entity collaboration. The blockchain structure and the crowdfunding system also provide management automation to enable crowdsourcing innovation for one or more entities across the enterprise scale. The blockchain structure can also generate coins so that each coin is unique and traceable throughout the process. When the entity replenishes the coins in step 51 and replenishes the reservoir in step 53, adds more coins in step 57, and changes the value of the coins in step 55, each new coin is subjected to blockchain operations to uniquely identify the new coin and then track the new coin via a unique identifier. The incentive multiples in steps 48, 50 and 52 can also be subjected to blockchain operations to uniquely identify and track the multiples for the corresponding contributors.

[0069] Figure 3A and Figure 3B Transactions in the process of crowdfunding may also be subject to blockchain operations to uniquely identify the transaction, such as the transactions that convert the coins in steps 54, 56, and 58, the transactions that remove funds and return coins in steps 65 and 66, the transaction that adds the converted contribution to the funds in step 60, the transaction that removes coins from the treasury in step 67, the transaction that releases the fiat currency and provides notification to the contributors in steps 68 and 69, the transaction that spends funds in step 82, and the transaction that transfers ownership in step 86. Other steps or transactions in the crowdfunding process may also be subject to blockchain operations to uniquely identify them and track them through the process.

[0070] Table 8 is an example of a blockchain immutable record for applying a unique identifier in a crowdfunding system. By using a unique identifier to verify coins, incentive multiples, badges, and transactions, for example, immutable records can be distributed between entities and funder computers and annotated with each other to provide security. Table 9 is an example of a blockchain operation for a crowdfunding system. Immutable records and blockchain operations can be implemented using, for example, known blockchain records and operations.

[0071]

[0072]

Claims

1. A computer-implemented method for crowdfunding of an innovation involving one or more entities, the method comprising the steps of: distributing, via a computer system, a proposal having a description of the project, an amount of funds requested, and a time frame for raising said funds; transfer ownership of said items to or between entities; receiving, by the entity via the computer system, contributions from contributors, and for each of the contributions received: Converting the contribution into a corresponding amount of currency according to a conversion rate, wherein the currency is an amount of digital currency representing an amount of legal tender; performing blockchain operations on the coin; as well as adding the adjusted contribution to said funds; if the funds satisfy the requested amount of funds within the time frame and within the amount of reservoir funds available for the project, releasing an amount of money corresponding to the amount of coins in the funds to the requestor from one or more entities via the computer system; as well as Determine whether the project was successful after the money was released.

2. The method of claim 1, wherein the receiving step further comprises selectively adjusting the contribution by an incentive multiple and performing a blockchain operation on the incentive multiple.

3. The method according to claim 2, further comprising the steps of: If the project is successful, the funds adjusted at the corresponding incentive multiple and converted from the currency at the corresponding conversion rate are distributed to the funders by the one or more entities.

4. The method of claim 3, wherein the step of allocating the funds comprises spending funds converted from the currency using the same exchange rate as used to convert the contribution into the currency.

5. The method of claim 2, wherein the adjusting step comprises multiplying the contribution by a value greater than one and less than or equal to two as the incentive multiplier.

6. The method of claim 1, wherein the converting step uses a current exchange rate at the time of the contribution as the conversion rate from the currency of the funder's country to the currency of the requester's country.

7. The method of claim 1 further comprising limiting each of the contributions to no more than a certain percentage of the requested funding amount.

8. The method of claim 1, wherein the converting step includes using a single type of currency for the coins.

9. The method of claim 1, wherein the transferring step comprises transferring intellectual property rights to the project to or between entities.

10. The method of claim 1, further comprising making a specified amount of coins in the treasury available to a pool of potential contributors.

11. The method of claim 1 , further comprising the step of sending a specified amount of coins to a pool of potential contributors.

12. The method of claim 11, wherein the sending step further comprises approving the specific amount of the coin to the pool of potential contributors, wherein the approving limits the use of the coin to crowdfunding of projects within the one or more entities and specifies a time limit on when the coin can be used for the crowdfunding.

13. The method of claim 11, wherein the sending step includes electronically displaying a user interface to dispense the specific amount of money.

14. The method of claim 13, wherein the sending step further comprises displaying a coin amount and a time limit for spending the coin amount within the user interface.

15. The method of claim 1, wherein the distributing step comprises electronically displaying a user interface identifying the offer.

16. The method of claim 15, wherein the distributing step further comprises displaying within the user interface an indication of funds received for the offer and the time remaining within the time frame.

17. The method of claim 1, wherein the receiving step includes electronically displaying a user interface to receive the contribution.

18. The method of claim 17, wherein the receiving step further comprises displaying within the user interface the amount of coins remaining for the contributor and the time remaining to spend the remaining coins.

19. The method according to claim 1, further comprising the steps of: If the project is successful, a prize comprising a set monetary amount is distributed by the one or more entities to the contributors or selected ones of the contributors.

20. The method according to claim 1, further comprising the steps of: If the project is successful, feedback related to the project is received from the funder.

21. The method according to any one of claims 1 to 20, further comprising performing a blockchain operation of any of the steps according to any one of claims 1 to 20.

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