Security token issuing system, security token dividend allocation system, security token settlement system, security token issuing method, security token dividend allocation method, security token settlement method, and program

Abstract

To provide a security toke issuing system, a security token dividend allocation system, a security token settlement system, a security token issuing method, a security token dividend allocation method, a security token settlement method, and a program which can issue and manage a security token backed by real estate.SOLUTION: A sales person server 100 has a real estate build-in unit 111 which determines whether or not a target real estate is built in based on a predetermined condition. An ST issuing unit 113 issues a Real Estate Specified Joint Enterprise Act security token obtained by converting a real estate equity-in-investment monetary claim composed from a target real estate to be built-in into a security token. A real estate exchanging unit 117 determines whether or not each of the target real estates built in the real estate equity-in-investment monetary claim satisfies the predetermined condition to change the target real estate which does not satisfy the predetermined condition with the real estate which satisfies the predetermined condition.SELECTED DRAWING: Figure 3

Description

[Technical Field]

[0001] The present invention relates to a security token issuing system, a security token distribution system, a security token payment system, a security token issuing method, a security token distribution method, a security token payment method, and a program. [Background technology]

[0002] In response to the diversification of financial transactions accompanying recent advances in information and communications technology, the Amended Financial Instruments and Exchange Act (hereinafter referred to as the FIEA) clarified the handling of Security Token Offerings (STOs), in which companies and other entities issue security tokens and raise funds using distributed ledger technologies such as blockchain. The FIEA was also amended to include security tokenization of collective investment scheme shares and beneficiary certificates that have become real estate equity monetary claims under the Real Estate Specified Joint Enterprise Act (hereinafter referred to as the FTE Act) Type 1 business license. Prior to this legal amendment, technology was disclosed for storing information on real estate securitization products under the FTE Act or deemed securities under the FIEA on a blockchain (see Patent Publication 1). [Prior art documents] [Patent documents]

[0003] [Patent Document 1] Patent Publication No. 2022-151846 Summary of the Invention [Problem to be solved by the invention]

[0004] However, the technology described in the above publication is a mechanism for registering information on real estate securitization products or deemed securities on a blockchain, and does not involve security tokenization of collective investment scheme shares based on real estate investment interest monetary claims or beneficiary certificates based thereon, and does not describe the issuance or management of security tokens backed by real estate in response to the legal amendments.

[0005] The present invention has been made in consideration of the above, and aims to provide a security token issuance system, a security token distribution system, a security token payment system, a security token issuance method, a security token distribution method, a security token payment method, and a program that can issue and manage security tokens backed by real estate. [Means for solving the problem]

[0006] In order to solve the above-mentioned problems and achieve the objectives, the present invention is characterized by determining whether or not to incorporate a target real estate based on predetermined conditions, and issuing a special non-profit law security token that is a security token of a real estate investment interest monetary claim that is structured from the target real estate that has been determined to be incorporated.

[0007] The present invention is also characterized by determining whether or not to incorporate a target real estate based on specified conditions, and issuing a beneficiary certificate security token by converting the beneficiary certificates provided by establishing a real estate investment interest monetary claim composed of the real estate that has been determined to be incorporated as a beneficiary certificate issuing trust.

[0008] The present invention is also characterized in that it calculates dividends to owners of non-specialized law security tokens or beneficiary certificate security tokens at predetermined times according to the owner's period of ownership.

[0009] Furthermore, the present invention is characterized in that when the payer and the receiver agree to payment using a non-specialized law security token or a beneficiary certificate security token, the payer transfers the non-specialized law security token or the beneficiary certificate security token to the receiver in proportion to the consideration. [Effects of the Invention]

[0010] The present invention has the effect of enabling the issuance and management of security tokens backed by real estate. [Brief explanation of the drawings]

[0011] [Figure 1] 1 is an explanatory diagram showing an overview of a mechanism for issuing, transferring, cancelling, etc., a non-specialized non-profit law ST realized by the non-specialized non-profit law ST system 10 of this embodiment. [Figure 2] 1 is an explanatory diagram showing an outline of a mechanism for issuing, transferring, cancelling, etc., beneficiary certificates ST realized by the beneficiary certificate ST system 20 of this embodiment. [Figure 3] 1 is a block diagram showing the configuration of each device of a special non-profit law ST system 10 according to the present embodiment. [Figure 4] 10 is a flowchart showing a real estate investment equity monetary claim composition processing procedure executed by the business operator server 100. [Figure 5] 10 is a flowchart showing a security token issuance and transfer process executed by the business operator server 100. [Figure 6] 10 is a flowchart showing a procedure for a security token buying and selling process executed by the securities company server 200. [Figure 7] 10 is a flowchart showing a security token buying and selling process procedure (self-offering) executed by the business operator server 100. [Figure 8] 10 is a flowchart showing a security token contract cancellation process executed by the business operator server 100. [Figure 9] 10 is a flowchart showing a dividend calculation and distribution processing procedure executed by the business operator server 100. [Figure 10]10 is a flowchart showing the procedure of a real estate replacement process executed by the business operator server 100. [Figure 11] 10 is a flowchart showing a real estate addition process executed by the business operator server 100. [Figure 12] 10 is a flowchart showing the procedure of an ST payment process executed by the user terminal 300. [Figure 13] FIG. 2 is a block diagram showing the configuration of each device of the beneficiary certificate ST system 20 according to the present embodiment. DETAILED DESCRIPTION OF THE INVENTION

[0012] A non-specialty securities law ST system and a trustee securities law ST system according to each embodiment of the present invention will be described with reference to the drawings. These descriptions are examples of embodiments of the present invention, and the present invention is not limited to these examples. The following description will discuss a security token backed by real estate (hereinafter referred to as a non-specialty securities law ST), which is a security token that security tokenizes a real estate investment equity monetary claim based on the non-specialty securities law, and a security token (hereinafter referred to as a beneficiary certificate ST), which security tokenizes a beneficiary's beneficial interest in a real estate investment equity monetary claim based on the non-specialty securities law or a beneficiary certificate representing such beneficial interest.

[0013] 1 is an explanatory diagram showing an overview of a mechanism for issuing, transferring, extinguishing, etc., non-specified non-profit law STs realized by a non-specified non-profit law ST system 10 of this embodiment. The non-specified non-profit law ST system 10 includes a business operator server 100, a securities company server 200, user terminals 300-1 to -n (hereinafter referred to as user terminals 300), a ST issuance and ledger management server 400, a blockchain network (hereinafter referred to as BCN) 500, and a blockchain management server (hereinafter referred to as BC management server) 600.

[0014] The operator server 100 is a computer operated under the operator's instructions. The operator is a business operator that manages and operates real estate. The operator creates real estate equity monetary claims from the right to receive revenues generated by one or more physical real estate properties under the Act on Special Real Estate Investment Trusts (ASITs) and converts the created real estate equity monetary claims into security tokens. The operator server 100 determines which real estate properties the operator manages to incorporate and registers the issuance, transfer, extinction, etc. of ASITs, which are security tokenized real estate equity monetary claims created from the incorporated real estate properties, in the BCN 500 via the ST issuance and ledger management server 400 or the BC management server 600. The operator server 100 manages the operator's own private key to transfer ASITs to securities companies and investors. If the operator is registered as a Type 1 financial instruments business operator to handle direct trading (self-offering), the operator manages the user's private key upon the entrustment of the investor user (the operator or a securities company entrusted by the user may also manage the user's private key). The ST issuance and ledger management server 400 or the BC management server 600 may manage the private keys of the business operator and users under the management of the business operator or securities company. The business operator holds a Type II Financial Instruments Business Registration, a Notification of Specified Solicitation Business, and a Type 1 Business License under the Non-Specified Commercial Transactions Act, and the securities company is registered as a Type I Financial Instruments Business. Note that registration of the issuance, transfer, extinction, etc. of Non-Specified Commercial Transactions Act STs in the BCN 500 may be performed as a function of the business operator server 100 or securities company server 200, without going through the ST issuance and ledger management server 400 or the BC management server 600.

[0015] The securities company server 200 is a computer operated by a securities company. Securities companies underwrite non-specified securities (FTS) from business operators, i.e., purchase FTS from business operators and sell them to investors. Securities companies also act as intermediaries between business operators and investors for FTS. When the securities company server 200 concludes a sales contract or brokerage contract for FTS with an investor, it registers the transfer information for the FTS in the BCN 500. The securities company server 200 manages the securities company's own private key and the private key of the user, the entrusted investor. As described above, securities companies register as Type I Financial Instruments Business Operators, and also hold a Type 2 FTS Business License and file a notification of Specified Solicitation Business. Note that the above-mentioned registrations, licenses, notifications, etc. may be subject to changes in names, new registrations, licenses, notifications, etc., or changes or become unnecessary in response to legal amendments. In such cases, business operators, securities companies, etc., will register, license, notifications, etc. in accordance with the legal amendments.

[0016] The user terminal 300 is a computer operated by a user who is an investor or a user who is not an investor. An investor is a person who purchases or sells a non-specified public securities ST, and may be an individual, a company, etc. When a sales contract for a non-specified public securities ST is concluded with a securities company using the user terminal 300, the securities company server 200 registers the transfer information of the non-specified public securities ST in the BCN 500 via the BC management server 600. This allows the investor to own the non-specified public securities ST. When a sales contract for a non-specified public securities ST is concluded with the user terminal 300 through a salesperson's self-offering, the salesperson server 100 registers the transfer information of the non-specified public securities ST in the BCN 500 via the BC management server 600. This allows the investor to own the non-specified public securities ST.

[0017] The ST issuance and ledger management server 400 creates a non-specialized law ST ledger for managing non-specialized law STs. The ST issuance and ledger management server 400 generates an ID to identify the non-specialized law ST based on the issuance instruction for the non-specialized law ST sent from the business operator server 100, stores the generated ID in the non-specialized law ST ledger, and registers the issuance information of the non-specialized law ST corresponding to the ID in the BCN 500 using the business operator's private key. The issuance information of the non-specialized law ST may also include the ID.

[0018] BCN500 is a data management system that uses so-called distributed ledger technology (DLT) and stores information about the FTA ST in blocks on each node. BCN500 may be a private blockchain, a public blockchain, a consortium blockchain, or the like. In addition, BCN500 of this embodiment includes a data management system that uses distributed ledger technology that is not a blockchain.

[0019] When a salesperson or securities company transfers a non-specified non-profit ST to an investor, etc., the BC management server 600 registers transfer information of the non-specified non-profit ST in the BCN 500 in response to instructions from the salesperson server 100 or the securities company server 200. When investors settle using the non-specified non-profit ST without going through a salesperson or securities company, the BC management server 600 registers transfer information of the non-specified non-profit ST in the BCN 500 in response to instructions from the user terminal 300. At this time, the BC management server 600 is called from a payment app or the like running on the user terminal 300, and registers transfer information from the transfer source of the non-specified non-profit ST to the transfer destination in the BCN 500. The transfer information may include an ID and date information. The date information stored in the BCN 500 functions as a timestamp.

[0020] Next, the processes executed by each device described above will be explained using FIG. 1, including the process of issuance, transfer, extinction, etc. of the ST, the relationship with the BCN 500, and actions such as sales contracts by each party.

[0021] The business operator's server 100 selects real estate from a managed real estate DB that stores real estate owned and managed by the business operator and real estate information (P1). The business operator's server 100 determines whether or not to incorporate the selected real estate as a target real estate for a real estate equity monetary claim (P2). The business operator creates a real estate equity monetary claim from one or more target real estates that have been incorporated (P3).

[0022] When a salesperson enters into a sales contract (or brokerage contract) for a non-specialized law ST with a securities company, or when a salesperson enters into a sales contract (self-offering) for a non-specialized law ST with an investor, the salesperson server 100 instructs the ST issuance and ledger management server 400 to issue the non-specialized law ST (P4). The ST issuance and ledger management server 400 generates an ID for each non-specialized law ST and stores it in the non-specialized law ST ledger, and also registers the issuance information of the non-specialized law ST corresponding to the ID in the BCN 500 (P5). The salesperson server 100 receives the ID of the non-specialized law ST issued from the ST issuance and ledger management server 400 (P6).

[0023] Based on a sales contract or brokerage contract under the Non-Specified Commercial Transactions Act ST between a salesperson and a securities company (or an investor in a self-offering), the salesperson server 100 instructs the BC management server 600 to transfer from the salesperson to the securities company (or investor) (P7), and the BC management server 600 registers the transfer information in the BCN 500 using the salesperson's own private key (P8).

[0024] When an investor terminates a sales contract (anonymous partnership investment contract) in a self-offering with a business operator, the business operator server 100 instructs the BC management server 600 to transfer the investment from the investor to the business operator (P9), and the BC management server 600 uses the investor's private key held on behalf of the investor (or, if the business operator uses the authority of the non-specified public trust fund ST issuer without using the investor's private key) to register the transfer information in the BCN 500 (P10). The business operator server 100 instructs the ST issuance and ledger management server 400 to extinguish the non-specified public trust fund ST held by the investor (P11). The ST issuance and ledger management server 400 stores the extinguishment of the ID in the non-specified public trust fund ST ledger and registers the extinguishment information of the non-specified public trust ST in the BCN 500 (P12). In addition, instead of processing P9 to P12, based on a request for termination of the anonymous partnership investment agreement (cancellation agreement) notified to the operator by the investor, the non-profit organization ST may not be transferred, and the operator server 100 may store the extinction of the ID corresponding to the non-profit organization ST owned by the investor in the non-profit organization ST original ledger, and register the extinction information of the non-profit organization ST in BCN500.

[0025] When a sales contract for a non-specified legal entity ST is concluded between a securities company and an investor, the securities company server 200 instructs the BC management server 600 to transfer the ST between the securities company and the investor (P13), and the BC management server 600 registers the transfer information for the non-specified legal entity ST in the BCN 500 using the securities company's own private key or the investor's private key that is entrusted to the securities company by the investor and managed by the securities company (P14). Also, when a sales contract for a non-specified legal entity ST is concluded between investors via a securities company, the securities company server 200 instructs the BC management server 600 to transfer the ST between the investors, and the BC management server 600 registers the transfer information for the non-specified legal entity ST in the BCN 500 using the investor's private key that is entrusted to the investor and managed by the securities company.

[0026] This section explains the case where an owner of a non-specified cryptocurrency ST uses a non-specified cryptocurrency ST to pay for goods, etc. When a sales contract for goods, etc. is concluded between the owner of the non-specified cryptocurrency ST and another user and the user agrees to pay the price in the non-specified cryptocurrency ST, the payment function or payment app running on each user terminal 300 instructs the BC management server 600 to transfer the non-specified cryptocurrency ST (P15), and the BC management server 600 registers the transfer information of the non-specified cryptocurrency ST in the BCN 500 (P16). As a result, the user who has received the price comes into possession of the non-specified cryptocurrency ST (P17). The user's private key may be managed by a securities company entrusted by the user, or by the user themselves. Goods, etc., include other cryptocurrencies and points. In addition to using a non-specified cryptocurrency ST to pay for goods, etc., non-specified cryptocurrency STs may also be traded between users via cryptocurrency dealers, just like other cryptocurrencies.

[0027] FIG. 2 is an explanatory diagram showing an overview of the mechanism for issuing and transferring beneficiary certificates ST, which is realized by the beneficiary certificate ST system 20 of this embodiment. The beneficiary certificate ST system 20 includes a business operator server 700, an SPC / LLC server 800, a trust bank / management trust company server 900, an SPC holdings server 1000, a securities company server 200, a user terminal 300, an ST issuance and ledger management server 400, a BCN 500, and a BC management server 600. The devices and components with the same reference numerals as those in FIG. 1 have substantially the same functions as those described above, so please refer to the above explanation and their explanation will be omitted here. Below, the following explanation will focus on the functions and configurations that differ from those in FIG. 1.

[0028] The business operator server 700 is a computer operated under the instructions of the business operator. The business operator here is a business operator that manages and operates real estate and, under the Act on Special Real Estate Investment Trusts, generates real estate equity monetary claims from the right to receive revenue generated by one or more physical real estate. Like the business operator server 100, the business operator server 700 determines which real estate properties managed by the business operator should be incorporated and generates real estate equity monetary claims from the incorporated real estate properties. If the business operator and the asset manager (hereinafter referred to as AM) are separated, an information processing device (hereinafter referred to as an asset manager server) operated by the AM is provided separately from the business operator server 700. In this case, the business operator executes processes up to the issuance of the real estate equity claims using the business operator server 700, and the AM operates the asset manager server (including instructing and operating the business operator server 700) to sell and transfer the real estate equity claims from the business operator to the SPC / LLC and execute subsequent processes.

[0029] The SPC / LLC server 800 is a computer operated by the SPC or LLC. The SPC is a special purpose company (SPC). The SPC / LLC places the real estate investment interest monetary claims sold by the operator in trust with a trust bank / trust company (transferring them as trust property), and receives beneficiary certificates (beneficiary certificates referred to in this application include trust beneficiary rights and beneficiary certificate issuing trusts) from the trust bank / trust company. The beneficiary certificates received from the trust bank / trust company are security tokenized beneficiary certificates ST.

[0030] The trust bank / management trust company server 900 is a computer operated by a trust bank or a management trust company. The trust bank / management trust company provides the SPC / LLC with security tokenized beneficiary certificates (beneficiary certificates ST) based on the monetary claims for real estate investments entrusted to the SPC / LLC for issuance of beneficiary certificates. More specifically, the trust bank / management trust company server 900 requests the ST issuance and ledger management server 400 to issue beneficiary certificates ST based on the beneficiary certificates, and the ST issuance and ledger management server 400 creates a beneficiary certificate ST ledger and registers the issuance information of the beneficiary certificates ST corresponding to the ID that identifies the entrusted certificates ST in the BCN 500. The ID may also be included in the issuance information of the beneficiary certificates ST. The trust bank / management trust company server 900 registers transfer information for transferring issued beneficiary certificates ST to an SPC / LLC (or transfer information for transferring to a securities company if there is a sales contract to a securities company) in the BCN 500 using the trust bank / management trust company's own private key via the BC management server 600. The trust bank / management trust company server 900 manages the trust bank / management trust company's own private key. Note that registration of the issuance, transfer, etc. of beneficiary certificates ST in the BCN 500 may be performed as a single function of the trust bank / management trust company server 900, without going through the ST issuance / ledger management server 400 or the BC management server 600.

[0031] The SPC Holdings Server 1000 is a computer operated by SPC Holdings. SPC Holdings is a shareholder of the SPC and manages and directs the SPC. SPC Holdings or a limited liability company designates an AM and delegates the entire operation of the SPC to the AM.

[0032] Using FIG. 2, the processes executed by each computer described above will be explained, including the issuance and transfer of beneficiary certificates ST, and the relationship with BCN500, including the contracts and other actions of each party.

[0033] The business operator's server 700 selects real estate from the managed real estate DB, which stores real estate owned and managed by the business operator and real estate information (P21). The business operator's server 700 determines whether to incorporate the selected real estate as a target real estate for a real estate equity monetary claim (P22). The business operator creates a real estate equity monetary claim from one or more target real estate properties that have been incorporated (P23). The business operator sells and transfers the real estate equity monetary claim to the SPC / LLC (P24).

[0034] The SPC / LLC places the real estate equity monetary claim purchased from the operator in a trust with the trust bank / trust company (transferring it as trust property) (P25). As a result, ownership of the real estate equity monetary claim is transferred to the trust bank / trust company. The SPC / LLC receives trust certificates from the trust bank / trust company. More specifically, the trust bank / trust company server 900 instructs the ST issuance and ledger management server 400 to issue beneficiary certificates ST based on the beneficiary certificates (P26). The ST issuance and ledger management server 400 generates an ID for each beneficiary certificate ST, stores the generated ID in the beneficiary certificate ST ledger, and registers the issuance information for the beneficiary certificate ST corresponding to the ID in the BCN 500 (P27). The trust bank / trust company server 900 receives the beneficiary certificates ST and ID from the ST issuance and ledger management server 400 (P28). The trust bank / management trust company server 900 instructs the BC management server 600 to transfer the issued beneficiary certificates ST to the SPC / LLC (P29), and the BC management server 600 registers the transfer information in the BCN 500 (P30). The SPC / LLC server 800 receives the ID of the issued beneficiary certificate ST from the ST issuance and ledger management server 400 (P31). The trust bank / management trust company server 900 generates all of the real estate investment equity monetary claims as trustee certificates ST, and the SPC / LLC server 800 takes over all of the beneficiary certificates ST generated from the real estate investment equity monetary claims.

[0035] When a sales contract for entrusted securities ST is concluded between an SPC / LLC and a securities company, the securities company underwrites all of the beneficiary securities ST, and the operator receives the sales proceeds from the securities company through the SPC / LLC. The SPC / LLC server 800 instructs the BC management server 600 to transfer the entrusted securities ST with the permission of the securities company (P32), and the BC management server 600 registers the transfer information in the BCN 500 using the SPC / LLC's own private key (P33). Note that when a sales contract for entrusted securities ST is concluded between an SPC / LLC and a securities company, after P28, the trust bank / management trust company server 900 may transfer the beneficiary securities ST to the securities company without transferring them to the SPC / LLC.

[0036] When a contract for the purchase and sale of entrusted securities ST is concluded between a securities company and an investor, the securities company server 200 instructs the BC management server 600 to transfer the quantity of entrusted securities ST according to the contract for the purchase and sale (P34), and the BC management server 600 registers the transfer information in the BCN 500 using the securities company's private key or the user's private key (P35).

[0037] When users perform settlement processing (P36 to P38) using entrusted receipts ST, it is the same as for the non-specialized law ST, so please refer to the above explanation by replacing non-specialized law ST with entrusted receipts ST and omit the explanation here.

[0038] 3 is a block diagram showing the configuration of each device in the non-specified non-profit law ST system 10 according to this embodiment. The business operator server 100, securities company server 200, user terminal 300, ST issuance and ledger management server 400, BCN 500, and BC management server 600 constituting the non-specified non-profit law ST system 10 are communicatively connected via a network N, and transmit and receive data with each other. The network N may be any communication network, such as the Internet, an intranet, a local area network (LAN), a virtual private network (VPN), or a mobile communication network, or a combination thereof, and some or all of the network may be wired or wireless. Parts of the non-specified non-profit law ST system 10 constitute a security token issuance system, a security token distribution system, and a security token payment system.

[0039] The salesperson server 100 comprises a control unit 110, a storage unit 120, a communication unit 130, and an input / output unit 140. The control unit 110 controls the operation of the salesperson server 100 as a whole and each unit by expanding and executing various programs and control information stored in the storage unit 120. The same applies to other devices.

[0040] The control unit 110 functions as a real estate investment unit 111, a real estate investment interest monetary claim composition unit 112, a ST issuance unit 113, a ST transfer unit 114, a contract generation unit 115, a dividend calculation unit 116, and a real estate replacement unit 117. The storage unit 120 stores a managed real estate DB 121, a private key 122, programs for controlling each unit, application programs, various control information, intermediate files, etc. (not shown). The communication unit 130 is connected to other devices via the network N so that they can communicate with each other, and transmits and receives data to and from the other devices. The input / output unit 140 accepts operations by the user and displays the operation results, the execution results of various processes, etc.

[0041] The managed real estate DB 121 stores real estate managed and operated by the operator, as well as information about each of the properties (hereinafter referred to as "real estate information"). The real estate information includes the property's estimated annual full-occupancy rent, average annual occupancy rate, annual operating and management fees, appraised value by a real estate appraiser, and other information. The real estate information is periodically updated with the latest information and also stores past real estate information. The managed real estate DB 121 also stores whether each property is currently the subject property of a real estate equity monetary claim. The private key 122 stores the operator's own private key, which is used to register transfer information to securities companies and investors during self-offering in the BCN 500. In addition, when selling a special real estate securities to investors through self-offering, the private key of a user entrusted to the investor may be stored. The private key 122 may be stored in the memory of the ST issuance and ledger management server 400 and the BCN management server 600 under the management of the operator or securities company, after ensuring security.

[0042] The real estate incorporating unit 111 selects real estate to be incorporated into the real estate equity monetary claim from the managed real estate DB 121, and determines whether the selected real estate satisfies predetermined conditions. The real estate incorporating unit 111 selects real estate to replace a real estate already incorporated into the real estate equity monetary claim, or a new real estate to be incorporated, from the managed real estate DB 121, and determines whether the selected real estate satisfies predetermined conditions.

[0043] The real estate equity monetary claim composition unit 112 calculates the total amount of real estate equity monetary claims from the appraisal value of each property incorporated into the real estate equity monetary claims, and calculates the total number of security tokens to be issued. The ST issuance unit 113 converts the real estate equity monetary claims into security tokens and issues a non-profit law ST. The ST transfer unit 114 registers transfer information of the non-profit law ST in the BCN 500 using the operator's private key. More specifically, the ST transfer unit 114 instructs the BC management server 600 to transfer the non-profit law ST, and the BC management server 600 registers the transfer information in the BCN 500 using the operator's private key. This changes the owner of the non-profit law ST. The contract generation unit 115 generates a contract agreed upon by the contracting parties. The dividend calculation unit 116 calculates the dividend for each non-profit law ST owner at a predetermined time. The real estate replacement unit 117 determines whether or not the target real estate incorporated into the real estate investment interest monetary claim at a predetermined time satisfies predetermined conditions, and if the predetermined conditions are not met, replaces the target real estate with real estate that does meet the predetermined conditions.

[0044] The securities company server 200 includes a control unit 210, a storage unit 220, a communication unit 230, and an input / output unit 240. The storage unit 220 includes a private key 221. The private key 221 stores the securities company's own private key and the private keys of users entrusted to the users who are investors.

[0045] The control unit 210 includes a contract generation unit 211 and an ST transfer unit 212. The contract generation unit 211 generates a contract agreed upon by the contracting parties. The ST transfer unit 212 registers transfer information of the non-specified non-profit law ST in the BCN 500 using the securities company's own private key or the user's private key. More specifically, the ST transfer unit 212 instructs the BC management server 600 to transfer the non-specified non-profit law ST, and the BC management server 600 registers the transfer information in the BCN 500 using the securities company's own private key or the user's private key. This changes the owner of the non-specified non-profit law ST. The communication unit 230 transmits and receives data to and from the business operator server 100 and the user terminal 300. The input / output unit 240 displays data and accepts data input.

[0046] The user terminal 300 displays the sales contract etc. received from the securities company server 200 or the salesperson server 100, and accepts input of contract acceptance for the displayed sales contract. The contract acceptance may be an electronic signature or a handwritten signature entered on the screen, instead of or in addition to an instruction to accept the contract. The user terminal 300 receives confirmation of whether or not payment is possible under the Non-Specified Commercial Transactions Act ST from other users, and transmits whether or not payment is possible under the Non-Specified Commercial Transactions Act ST to the other party.

[0047] The ST issuance and ledger management server 400 creates a non-specialty law ST ledger that manages non-specialty law STs. The ST issuance and ledger management server 400 generates an ID for each non-specialty law ST in response to an instruction to issue a non-specialty law ST received from the business operator server 100, stores the generated ID in the non-specialty law ST ledger, and registers the issuance information of the non-specialty law ST corresponding to the ID in the BCN 500. The ST issuance and ledger management server 400 stores the extinction of the non-specialty law ST of the target ID in the non-specialty law ST ledger in response to an instruction to extinguish a non-specialty law ST received from the business operator server 100, and registers the extinction information of the non-specialty law ST corresponding to the ID in the BCN 500.

[0048] The BCN 500 transmits (broadcasts) to each node (computer on the BCN) issuance information of the non-specialized law ST received from the ST issuance and ledger management server 400 and transfer information of the non-specialized law ST received from the business operator server 100 or the securities company server 200, and stores them in the block of each node. In addition, the BCN 500 transmits extinction information of the non-specialized law ST sent from the business operator server 100 to each node and stores them in the block of each node.

[0049] The BC management server 600 registers transfer information in the BCN 500 in response to instructions for the transfer of the non-specified law ST received from the business operator server 100, the securities company server 200, and the user terminal 300. The BCN 500 transmits the transfer information of the non-specified law ST sent from the BC management server 600 and stores it in the block of each node. The function of the BC management server 600 may be provided in the ST issuance and ledger management server 400.

[0050] 4 is a flowchart showing the procedure for the real estate equity monetary claim composing process executed by the business operator server 100. The real estate equity monetary claim composing process executed by the business operator server 100 configured as described above will be explained.

[0051] The real estate investment unit 111 of the operator server 100 receives the setting of the total amount of real estate investment equity monetary claims (step S401). The real estate investment unit 111 selects target real estate from the managed real estate DB (step S402). The real estate investment unit 111 determines whether to incorporate the target real estate (step S403). More specifically, the real estate investment unit 111 acquires real estate information for the target real estate from the managed real estate DB and determines whether to incorporate the target real estate based on whether the acquired real estate information satisfies the following formula. This also serves as a measure to further stabilize the value of security tokens (stabilizing the volatility of security tokens) when they become a financial infrastructure like currency, as described below. The numerical values ​​of the target real estate are input into the following formula (1) to calculate the distribution rate k. Depending on whether the calculated distribution rate is equal to or higher than the value expected by the operator, it can be determined whether the profits from the incorporated target real estate can be distributed to investors at a predetermined distribution rate. The denominator 100 of "C / 100" in the following formula (1) may be changed depending on the economic situation.

[0052] XY-{(k+C / 100) / 100×(100-α) / 100}×Z={(k+C / 100) / 100×α / 100}×Z+R+T ··· Formula (1) X: Estimated annual rent for the target property at full occupancy x average annual occupancy rate (rent and occupancy rate can also be calculated using AI from property information stored in the managed property database and information on surrounding properties) = Annual rent of the subject property Y: Annual operating and management fee for the target property k: Distribution rate (%) C: Consumer Price Index (CPI) year-on-year change (%) α: Subordinated investor (operator) investment ratio (%) Z: Appraisal value of the target property R: Salesperson's compensation (annual) T: Sales and administrative expenses (annual) including capital investment costs for systems, etc. and underwriting fees to securities companies

[0053] The real estate investment unit 111 determines whether the investment is complete (step S404). More specifically, the real estate investment unit 111 determines whether the total appraisal value of the target real estate determined to be incorporated is equal to or greater than the total amount of the real estate equity monetary claims initially set. The total amount of the real estate equity monetary claims initially set may have a predetermined range. If it determines that the investment is not complete (step S404: No), then in step S402, the real estate to be incorporated is selected. If it determines that the investment is complete (step S404: Yes), then the real estate equity monetary claim composition unit 112 calculates the total amount of the real estate equity monetary claims from the appraisal values ​​of the incorporated real estate. The price unit and the number of issuances of the non-specified ... The real estate equity monetary claim composition unit 112 calculates the total number of security tokens to be issued from the total amount of the real estate equity monetary claims (step S406). For example, if the total amount of the real estate equity monetary claims is 1 billion yen and the price unit of the non-specified public trust securities is a fixed amount, such as 1 yen, the total number of security tokens to be issued will be 1 billion. Note that the quantity of non-specified public trust securities sold to investors excludes the investment ratio of the subordinated investor (operator) of the subordinated investor. Therefore, if the investment ratio of the subordinated investor (operator) is 5%, the quantity will be 950 million, which is 95% of 1 billion. Note that the price unit of the non-specified public trust securities is not limited to 1 yen, and may be in units of 10,000 yen, 100,000 yen, etc.

[0054] As such, in formula (1), the calculation of the amount of dividend to be paid to investors {(k+C / 100) / 100×(100-α) / 100}×Z includes the year-on-year change in the Consumer Price Index (CPI) for the same month of the previous year, C, so dividends can be paid to investors that correspond to inflation or deflation. Also, because the investment ratio α of the subordinated investor (operator) is set, even if the rental income from the subject real estate at the time of dividend payment falls short of the expected rental income or the operating expenses exceed the expected operating expenses, dividends will be paid to investors at the originally planned distribution rate as long as the shortfall does not exceed the subordinated investor's investment.

[0055] 5 is a flowchart showing the procedure of the security token issuance and transfer process executed by the business operator server 100. The security token issuance and transfer process executed by the business operator server 100 configured as described above will be explained.

[0056] The communication unit 130 receives the ST sales contract and ST brokerage contract concluded with the securities company from the securities company server 200 (step S501). The ST issuance unit 113 transmits the issuance of a non-specified non-profit law ST based on the real estate investment equity monetary claim in accordance with the ST sales contract and ST brokerage contract to the ST issuance and ledger management server 400 (step S502). For example, if there is a sales contract or brokerage contract for a non-specified non-profit law ST worth 20 million yen with a certain securities company, the ST issuance and ledger management server 400 transmits issuance information for the non-specified non-profit law ST worth 20 million yen to the ST issuance and ledger management server 400. The ST issuance and ledger management server 400 generates an ID that identifies each non-specified non-profit law ST, stores the generated ID in the non-specified non-profit law ST ledger, and transmits issuance information for the ST corresponding to the ID to the BCN 500 using the operator's private key for registration.

[0057] The ST issuing unit 113 receives an ID identifying each non-specified law ST from the ST issuing / register management server 400 (step S503). The ST transfer unit 114 transmits transfer information for each non-specified law ST to the BCN 500 (step S504). More specifically, the ST transfer unit 114 transmits an instruction for transfer from the business operator to the securities company for each non-specified law ST to the BC management server 600, and the BC management server 600 registers the transfer information in the BCN 500 using the business operator's private key. The communication unit 130 transmits information that the non-specified law ST has been transferred to the securities company server 200 of the ST sales contract holder / ST intermediary contract holder and the user terminal 300 of the ST sales contract holder (step S505).

[0058] In this way, the IDs of the non-specialized law STs in the quantity corresponding to the ST sales contract and ST brokerage contract are stored in the non-specialized law ST ledger, and the non-specialized law STs corresponding to the IDs can be registered in BCN 500 to issue non-specialized law STs based on real estate investment interest monetary claims. In addition, by registering the transfer information of the non-specialized law STs to securities companies or investors in BCN 500, the non-specialized law STs can be transferred to securities companies or investors.

[0059] 6 is a flowchart showing the procedure of the security token buying and selling process executed by the securities company server 200. The security token buying and selling process executed by the securities company server 200 configured as described above will be explained.

[0060] A case where an investor purchases a non-specified public securities ST from a securities company will be described. The communication unit 230 of the securities company server 200 receives a purchase request for the non-specified public securities ST from the user terminal 300 (step S601). The contract generation unit 211 creates a sales contract for the non-specified public securities ST between the securities company and the investor (step S602). The communication unit 230 transmits the sales contract for the non-specified public securities ST to the user terminal 300 (step S603). The communication unit 230 receives the sales contract for the non-specified public securities ST including contract acceptance (step S604).

[0061] The ST transfer unit 212 transmits transfer information of the non-specified non-profit ST according to the sales contract to the BCN 500 (step S605). More specifically, for each non-specified non-profit ST, a transfer instruction from the securities company to the investor is transmitted to the BC management server 600, and the BC management server 600 registers the transfer information in the BCN 500 using the securities company's private key. The communication unit 230 transmits to the user terminal 300 a message that the non-specified non-profit ST has been transferred (step S606).

[0062] Next, a case where an investor sells a non-specified public securities ST to a securities company will be described. The communication unit 230 of the securities company server 200 receives the investor's request to sell the non-specified public securities ST. The contract generation unit 211 creates a sales contract for the non-specified public securities ST between the securities company and the investor. The communication unit 230 transmits the sales contract for the securities company to purchase the non-specified public securities ST to the user terminal 300. The communication unit 230 receives the contract including the contract acceptance from the user terminal 300.

[0063] The ST transfer unit 212 transmits transfer information of the non-specified non-profit ST according to the sales contract to the BCN 500. More specifically, the ST transfer unit 212 transmits a transfer instruction from the investor to the securities company for each non-specified non-profit ST to the BC management server 600, and the BC management server 600 registers the transfer information in the BCN 500 using the private key of the user that is managed under the entrustment of the investor user. The communication unit 230 transmits to the user terminal 300 that the non-specified non-profit ST has been transferred.

[0064] In this way, by a securities company sending transfer information for the non-specialized securities exchange to BCN500 based on a sales contract with an investor, the transfer of the non-specialized securities exchange can be completed on the system, and the owner of the non-specialized securities exchange can be changed.

[0065] As a variant, instead of the buying and selling of the Unspecified Securities Act ST between investors and securities companies as described above, the securities company may match the selling and purchasing desires of each user, thereby allowing the Unspecified Securities Act ST to be bought and sold between users. When a match is made between users, the ST transfer unit 212 of the securities company server 200 registers the transfer information of the Unspecified Securities Act ST owned by the selling user, which has been matched, from the selling user to the buyer user in the BCN 500 using the private key of the user, which is managed under the entrustment of the selling user.

[0066] 7 is a flowchart showing the security token buying and selling process procedure (self-subscription) executed by the business operator server 100. The security token buying and selling process (self-subscription) executed by the business operator server 100 configured as described above will be explained.

[0067] The communication unit 130 receives a purchase request for the non-specified non-profit law ST from the user terminal 300 (step S701). The contract generation unit 115 generates a sales contract for the non-specified non-profit law ST between the salesperson and the investor (step S702). The communication unit 130 transmits the sales contract for the non-specified non-profit law ST to the user terminal 300 (step S703). The communication unit 130 receives the sales contract for the non-specified non-profit law ST including contract acceptance from the user terminal 300 (step S704).

[0068] The ST transfer unit 114 transmits transfer information of the non-specified non-profit law ST according to the sales contract to the BCN 500 (step S705). More specifically, the ST transfer unit 114 transmits a transfer instruction from the business operator to the investor for each non-specified non-profit law ST to the BC management server 600, and the BC management server 600 transmits and registers the transfer information to the BCN 500 using the business operator's private key. The communication unit 130 transmits a notice to the user terminal 300 that the non-specified non-profit law ST has been transferred (step S706). Note that instead of the business operator holding the business operator's private key, the business operator may manage the private key, and the securities company may register the transfer using the business operator's private key in accordance with the business operator's instructions. The same applies to other processes.

[0069] 8 is a flowchart showing the procedure for the security token contract cancellation process executed by the business operator server 100. The security token self-subscription contract cancellation process (anonymous partnership investment contract cancellation) executed by the business operator server 100 configured as described above will be described.

[0070] The communication unit 130 receives a request to terminate the Non-Profit Specified Commercial Transactions Act ST from the user terminal 300 (step S801). The contract generation unit 115 generates a termination contract between the business operator and the investor (step S802). The communication unit 130 transmits the termination contract to the user terminal 300 (step S803). The communication unit 101 receives the termination contract including contract acceptance from the user terminal 300 (step S804).

[0071] The ST transfer unit 114 transmits transfer information of the non-specified non-profit law ST according to the cancellation agreement to the BCN 500 (step S805). More specifically, the ST transfer unit 114 transmits an instruction to transfer the non-specified non-profit law ST from the investor to the business operator to the BC management server 600, and the BC management server 600 transmits and registers the transfer information to the BCN 500 using the user's private key managed by the business operator or securities company on behalf of the user who is the investor. Note that the business operator may register the transfer information in the BCN 500 with the authority of the non-specified non-profit law ST issuer without using the user's private key.

[0072] The ST issuance unit 113 transmits the extinction information of the non-specified non-profit law ST to the ST issuance and ledger management server 400 (step S806). More specifically, the ST issuance and ledger management server 400 stores the extinction information of the target ID in the non-specified non-profit law ST ledger based on the extinction information received from the business operator server 100, and transmits the extinction information of the non-specified non-profit law ST corresponding to the ID to the BCN 500 using the business operator's private key. Note that, based on a cancellation agreement notified to the business operator by the user, the non-specified non-profit law ST may not be transferred, but the extinction of the ID corresponding to the non-specified non-profit law ST owned by the user may be stored in the non-specified non-profit law ST ledger, and the extinction information of the non-specified non-profit law ST corresponding to the ID may be registered in the BCN 500 using the business operator's private key. Since the ID of the extinguished non-specified non-profit law ST is an unused number in the non-specified non-profit law ST ledger, the same ID will not be assigned when a new non-specified non-profit law ST is registered in the BCN 500. The communication unit 130 transmits to the user terminal 300 a notice that the non-specified non-profit law ST contract has been terminated (step S807).

[0073] In this way, if a business operator directly sells a non-specialty law ST to an investor through self-offering, the business operator's server 100 will register the transfer information of the non-specialty law ST in BCN 500, allowing the investor to own the non-specialty law ST. Furthermore, if an investor wishes to terminate the self-offering agreement with the business operator, i.e., to purchase the non-specialty law ST, the investor can relinquish the non-specialty law ST by transferring the non-specialty law ST held by the investor to the business operator and having it extinguished or extinguish it. Furthermore, by registering the extinction of the non-specialty law ST in the non-specialty law ST ledger and BCN 500, the extinguished non-specialty law ST becomes part of the real estate equity monetary claim that has not yet been formed into a non-specialty law ST, and when the business operator's server 100 issues a new non-specialty law ST from the extinguished real estate equity monetary claim, it will issue a non-specialty law ST with a new ID that is different from the original ID.

[0074] 9 is a flowchart showing the dividend calculation and distribution processing procedure executed by the business operator server 100. The following describes the dividend calculation and distribution processing for the non-specified non-profit ST executed by the business operator server 100 configured as described above. The recipients of the dividend are users who owned the non-specified non-profit ST during the distribution calculation period, and the dividend is calculated based on the real estate information of the target real estate incorporated into the real estate investment interest monetary claim.

[0075] The dividend calculation unit 116 determines whether it is the specified time to distribute dividends (step S901). Dividends may be distributed once a year or multiple times a year. If it is determined that it is not the specified time (step S901: No), the process returns to step S901. If it is determined that it is the specified time (step S901: Yes), the dividend calculation unit 116 acquires information about the non-specified public securities exchange (hereinafter referred to as non-specified public securities exchange information) from the BCN500 and / or the non-specified public securities exchange register (step S902). The non-specified public securities exchange information includes the non-specified public securities exchange ID, issuance information for each non-specified public securities exchange (issue date, owner, etc.), transfer information (transfer date, transfer origin, transfer destination, etc.), etc.

[0076] The dividend calculation unit 116 calculates the dividend for each non-specialty store owner (step S903). More specifically, the dividend calculation unit 116 calculates the ownership quantity and ownership period of non-specialty store for each non-specialty store owner during the target period for dividend calculation (for example, one year from October 1, 2023 to September 30, 2024) from the non-specialty store information, and calculates the dividend for each non-specialty store owner using the following formula (2).

[0077] Dividend = Quantity of ST held × Holding period × (k + C / 100) / 100 Formula (2)

[0078] The ST issuing unit 113 transmits issuance information for issuing a non-specialty law ST equivalent to the dividend from the real estate investment interest monetary claim to the BCN 500 (step S904). More specifically, the ST issuing unit 113 transmits an issuance instruction for the non-specialty law ST equivalent to the dividend to the ST issuing / register management server 400, and the ST issuing / register management server 400 generates an ID for identifying each non-specialty law ST, stores the generated ID in the non-specialty law ST register, and transmits issuance information for the ST corresponding to the ID to the BCN 500.

[0079] The ST issuing unit 113 receives the ID of the non-specialty law ST from the ST issuing / register management server 400 (step S905). The ST transfer unit 114 transmits transfer information of the non-specialty law ST, which corresponds to the dividend of the non-specialty law ST owner, to the BCN 500 (step S906). More specifically, the ST transfer unit 114 transmits an instruction to transfer the non-specialty law ST from the operator to the investor to the BC management server 600, and the BC management server 600 transmits and registers the transfer information to the BCN 500 using the operator's private key. The communication unit 130 transmits a message to the user terminal 300 of the non-specialty law ST owner that the dividend has been distributed (step S907).

[0080] In this way, dividends are calculated by taking into account the distribution rate k determined at the time of the contract and the year-on-year change (C) in the Consumer Price Index (CPI), allowing for dividends that correspond to inflation and deflation to be distributed to FTS holders. Furthermore, by distributing dividends in FTS, the next time dividends are calculated, the dividends may also be distributed to the FTS held by the investor as dividends. At the FTS holder's request, dividends may be distributed in Japanese yen, crypto assets, points, etc. instead of FTS.

[0081] 10 is a flowchart showing the procedure of the real estate replacement process executed by the business operator server 100. The real estate replacement process executed by the business operator server 100 configured as described above will be explained.

[0082] The real estate replacement unit 117 determines whether it is a predetermined time for real estate replacement (step S1001). If it is determined that it is not the predetermined time (step S1001: No), the process returns to step S1001. If it is determined that it is the predetermined time (step S1001: Yes), the real estate replacement unit 117 acquires real estate information of the target real estate incorporated into the real estate investment equity monetary claim from the managed real estate DB (step S1002). The real estate replacement unit 117 determines whether the target real estate satisfies predetermined conditions (step S1003). More specifically, the real estate replacement unit 117 inputs the numerical values ​​of the target real estate into formula (1) and calculates the distribution rate. Depending on whether the distribution rate is equal to or greater than a predetermined expected value, it determines whether the profits from the incorporated target real estate can be distributed to investors in the amount of the predetermined distribution rate.

[0083] If it is determined that the target real estate satisfies the predetermined conditions (step S1003: Yes), the process proceeds to step S1007. If it is determined that the target real estate does not satisfy the predetermined conditions (step S1003: No), the real estate replacement unit 117 selects a property from the managed real estate DB that has not yet been incorporated into the real estate investment interest monetary claim (step S1004). The real estate replacement unit 117 determines whether the target real estate satisfies the predetermined conditions (step S1005). As in step S1003, the real estate replacement unit 117 inputs the numerical values ​​of the target real estate into formula (1) and determines whether the distribution rate is equal to or greater than the expected numerical value.

[0084] If it is determined that the target real estate satisfies the predetermined conditions (step S1005: Yes), the target real estate is replaced (step S1006). If it is determined that the target real estate does not satisfy the predetermined conditions (step S1005: No), the process returns to step S1004 and a new real estate is selected. The real estate replacement unit 117 determines whether the predetermined conditions have been confirmed for all target real estate included in the real estate investment interest monetary claim (step S1007). If it is determined that the predetermined conditions have been confirmed for all target real estate (step S1007: Yes), the process ends. If it is determined that the predetermined conditions have not been confirmed for all target real estate (step S1007: No), the real estate information of the target real estate for which the predetermined conditions were not confirmed in step S1002 is obtained from the managed real estate DB. Note that the replacement real estate may be one-to-one between the new target real estate and the real estate that does not satisfy the predetermined conditions, or may be one-to-many, many-to-one, or many-to-many. Furthermore, the properties to be judged as to whether they satisfy the predetermined conditions may not be judged for all properties at a predetermined time, but may be judged for a predetermined proportion (for example, 1 / 2, 1 / 3, etc.) of the properties.

[0085] In this way, for all or a portion of the subject real estate incorporated into the real estate equity interest monetary claim at a predetermined time, a determination is made as to whether the income from the subject real estate can be used to distribute a predetermined distribution rate to investors, and properties that do not meet the criteria are replaced. This allows for distributions to be distributed to the holders of the JFSA ST at the predetermined distribution rate. Furthermore, this system allows for the replacement of properties with declining profitability with properties that can distribute a predetermined distribution rate at any time, eliminating the need for the repayment period of the real estate equity interest monetary claim to depend on the economic useful life of each subject property. This makes the repayment period of the real estate equity interest monetary claim, and therefore the JFSA ST, unlimited, thereby achieving an open-end structure with no repayment period.

[0086] 11 is a flowchart showing the procedure of the real estate addition process executed by the business operator server 100. The real estate addition process executed by the business operator server 100 configured as described above will be explained.

[0087] The real estate incorporating unit 111 accepts the setting of an additional amount for an additional real estate investment interest monetary claim (step S1101). The real estate incorporating unit 111 selects a target real estate from the managed real estate DB (step S1102). The real estate incorporating unit 111 determines whether or not to incorporate the target real estate (step S1103). More specifically, the real estate incorporating unit 111 acquires real estate information for the target real estate from the managed real estate DB, and determines whether or not to incorporate the target real estate based on whether or not the acquired real estate information satisfies mathematical formula (1).

[0088] The real estate investment unit 111 determines whether the additional investment is complete (step S1104). More specifically, the real estate investment unit 111 determines whether the appraisal value of the target real estate to be added is equal to or greater than the additional amount. The additional amount may have a predetermined range. If it is determined that the investment of the target real estate has not been completed to equal or exceed the additional amount (step S1104: No), the real estate to be incorporated is selected in step S1102. If it is determined that the additional investment of the target real estate has been completed to equal or exceed the additional amount (step S1104: Yes), the real estate investment equity monetary claim composition unit 112 calculates the additional amount of the real estate investment equity monetary claim from the appraisal value of the added real estate (step S1105). The real estate investment equity monetary claim composition unit 112 calculates the number of issuances of the special non-profit law ST to be added from the additional amount of the real estate investment equity monetary claim (step S1106).

[0089] In this way, by incorporating additional real estate that meets the specified conditions, the total amount of real estate investment interest monetary claims can be increased, and new non-profit special purpose trusts can be issued in addition to the non-profit special purpose trusts that have already been issued.

[0090] 12 is a flowchart showing the ST payment processing procedure executed by the user terminal 300. The ST payment processing executed between the user terminals 300 constituting the non-specified law ST system 10 will be described. The payment of consideration when a sales contract for goods or services is concluded between the user terminal 300 (hereinafter referred to as user terminal 300A) of user A (paying side) who pays the consideration in the non-specified law ST and the user terminal 300 (hereinafter referred to as user terminal 300B) of user B (receiving side) who receives the payment in the non-specified law ST will be described.

[0091] The user terminal 300A transmits to the user terminal 300B a confirmation as to whether or not payment for the product or the like is permitted by the non-specified method ST (hereinafter referred to as non-specified method ST payment availability) (step S1201).

[0092] User terminal 300B receives confirmation of whether payment is possible using the non-specified law ST from user terminal 300A (step S1202). User terminal 300B accepts input of whether payment is possible using the non-specified law ST (step S1203). If input that payment is possible using the non-specified law ST is accepted, user terminal 300B transmits to user terminal 300A that payment is possible using the non-specified law ST (step S1204). Note that if input that payment is not possible using the non-specified law ST is accepted, a message to that effect is transmitted to user terminal 300A, and payment from user A to user B is made using a method other than the non-specified law ST.

[0093] User terminal 300A receives the acceptance of payment of the non-specified non-transferable ST from user terminal 300B (step S1205). User terminal 300A transmits transfer information of the non-specified non-transferable ST from user A to user B to BCN 500 (step S1206). More specifically, user terminal 300A transmits an instruction to transfer the non-specified non-transferable ST from user A to user B to BC management server 600, and BC management server 600 transmits and registers the transfer information to BCN 500 using user A's private key. Note that user A's private key may be stored by a securities company on behalf of user A, and user A may instruct the securities company to transfer the key, which then transmits and registers the transfer information to BCN 500 using user A's private key.

[0094] The user terminal 300A transmits to the user terminal 300B a notice that the non-specified law ST has been transferred (step S1207). The user terminal 300B receives from the user terminal 300A a notice that the non-specified law ST has been transferred (step S1208).

[0095] In this way, the user terminal 300 sends a transfer instruction to the BC management server 600, and the BC management server 600 sends and registers the transfer information in the BCN 500, so that the Non-Specified Commercial Transactions Act ST can also be used to pay for goods, etc. Furthermore, if points are awarded when paying for goods, etc., rather than paying for them, the Non-Specified Commercial Transactions Act ST corresponding to those points may be transferred to the payer. Note that the acquisition of the confirmed date for the transfer of the Non-Specified Commercial Transactions Act ST (blockchain data stamp as a requirement for third-party assertion) is handled by the BC management server 600 acquiring from the BCN 500 the date and time when the BC management server 600 registered the transfer information in the BCN 500.

[0096] Next, the processing of the beneficiary certificate ST will be described. FIG. 13 is a block diagram showing the configuration of each device in the beneficiary certificate ST system 20 according to this embodiment. The beneficiary certificate ST system 20, which includes the business operator server 700, securities company server 200, user terminal 300, ST issuance and ledger management server 400, BCN 500, BC management server 600, SPC / LLC server 800, trust bank / management trust company server 900, and SPC holdings server 1000, are communicatively connected via network N and transmit and receive data to and from each other. Note that parts of the beneficiary certificate ST system 20 constitute a security token issuance system, a security token distribution system, and a security token payment system. The devices and components with the same reference numerals as those in FIG. 3 have substantially the same functions as those described above, so please refer to the above description and their description will be omitted here. Below, the following description will focus on functions and configurations that differ from those in FIG. 3.

[0097] The business operator server 700 includes a control unit 710, a storage unit 720, a communication unit 130, and an input / output unit 140. The control unit 710 includes a real estate investment unit 111, a real estate investment equity monetary claim composition unit 112, a contract generation unit 115, a dividend calculation unit 116, and a real estate replacement unit 117.

[0098] The SPC / LLC server 800 comprises a control unit 810, a memory unit 820, and a communication unit 830. The control unit 810 comprises an ST transfer unit 811 and a contract generation unit 812. The memory unit 820 comprises a private key 821, which stores the SPC / LLC's own private key. The ST transfer unit 811 registers transfer information of the beneficiary certificate ST in accordance with the sales contract with the securities company server 200 in the BCN 500. The contract generation unit 812 generates a sales contract with the securities company, etc.

[0099] The trust bank / trust company server 900 comprises a control unit 910, a memory unit 920, and a communication unit 930. The control unit 910 comprises an ST issuing unit 911 and an ST transfer unit 912. The memory unit 920 comprises a private key 921, which stores the private key of the trust bank / trust company itself. The ST issuing unit 911 security tokenizes the beneficiary certificates to be provided to the SPC / LLC based on a trust agreement in which the real estate investment interest monetary claim established by the SPC / LLC is the trust asset, and issues beneficiary certificates ST with the SPC / LLC as the owner. The ST transfer unit 912 registers transfer information of the beneficiary certificates ST in accordance with the sales contract between the SPC / LLC and the securities company server 200 in the BCN 500.

[0100] The SPC holdings server 1000 transmits instructions to the SPC 800, such as designating an operating company (which may be a salesperson) as the AM.

[0101] The real estate investment equity monetary claim composition process executed by the operator server 700 is the same as the real estate investment equity monetary claim composition process shown in Figure 4, so please read the non-specialized non-profit law ST as beneficiary certificate ST, refer to Figure 4 and the explanation of Figure 4, and omit the explanation here.

[0102] The SPC / LLC places the real estate investment interest monetary claim purchased from the operator in trust with a trust bank / management trust company (transfers it as trust property), and the trust bank / management trust company delivers beneficiary certificates to the SPC / LLC. At that time, the ST issuing unit 911 of the trust bank / management trust company server 900 sends and registers issuance information to the BCN500 specifying the SPC / LLC as the owner of the beneficiary certificates to be delivered to the SPC / LLC, thereby enabling the issuance of beneficiary certificates ST whose owner is the SPC / LLC.

[0103] The SPC / LLC sells the beneficiary certificates ST to the securities company at the instruction of the AM. In connection with the sale of the beneficiary certificates ST to the securities company, the ST transfer unit 811 of the SPC / LLC server 800 registers the transfer information of the beneficiary certificates ST in the BCN 500 using the SPC / LLC's own private key. Alternatively, instead of the SPC / LLC server 800, the ST transfer unit 912 provided in the trust bank / management trust company server 900 may register the transfer to the securities company in the BCN 500 using the trust bank / management trust company's private key, without transferring the beneficiary certificates ST to the SPC / LLC. In this way, the beneficiary certificates ST are transferred to the securities company.

[0104] The buying and selling of beneficiary certificates ST between securities companies and investors is shown in Figure 6, the calculation of dividends and distributions is shown in Figure 9, the replacement of real estate is shown in Figure 10, the addition of real estate is shown in Figure 11, and the settlement of beneficiary certificates ST by investors is the same as the processing of non-specialty law ST in Figure 12, so please read non-specialty law ST as beneficiary certificates ST and refer to each figure and their explanations.

[0105] In this way, by converting beneficiary certificates based on real estate equity monetary claims into security tokens, securities companies can easily buy and sell beneficiary certificates (ST), which are security tokenized beneficiary certificates. In addition, because beneficiary certificates (ST) are subject to separate taxation, they can be handled in a specified account at a securities company, and profits and losses can be offset. Therefore, investors who purchase beneficiary certificates (ST) can reduce their income tax.

[0106] Also, just like with the Special Real Estate Investment Trust Act, by incorporating real estate that satisfies formula (1), it is possible to create a real estate equity monetary claim that allows for the replacement or addition of real estate whose value does not fluctuate greatly. Furthermore, by issuing beneficiary certificates ST from real estate equity monetary claims, it is possible to circulate beneficiary certificates ST that are open-ended with no redemption period and whose value does not fluctuate greatly. This allows beneficiary certificates ST to be used as a means of payment.

[0107] Since ST beneficiary certificates are based on monetary claims for real estate investments, dividends are paid out once or several times a year. Dividends are calculated based on the CPI index compared to the same month of the previous year, so ST beneficiary certificate holders can receive dividends that correspond to inflation and deflation.

[0108] By building the above-described system, investors can own FTS or beneficiary certificates and use them for settlement. FTS or beneficiary certificates are designed to stabilize value based on real estate equity monetary claims and to withstand inflation and deflation, providing a real estate-based digital currency as social infrastructure. Furthermore, FTS or beneficiary certificates can be used as a stable, permanent point value incentive in various situations. The underlying real estate that constitutes FTS or beneficiary certificates can be replaced if profitability declines, and new FTS or beneficiary certificates can be issued by adding new underlying real estate. Therefore, FTS or beneficiary certificates are open-ended with no maturity period, and the total issuance volume can be controlled. This further stabilizes the value of FTS or beneficiary certificates.

[0109] The above-mentioned embodiment has been described as a non-specialized trust / beneficiary certificate ST with subordinated investment by the operator, but instead, a non-specialized trust / beneficiary certificate ST without subordinated investment by the operator may be used. Also, various contract processing may be executed as a smart contract.

[0110] The hardware configurations of the business operator server 100, business operator server 700, securities company server 200, user terminal 300, ST issuance / ledger management server 400, BCN 500, BC management server 600, SPC / LLC server 800, trust bank / management trust company server 900, and SPC holdings server 1000 in the above-mentioned embodiments are ordinary computers that include one or more processors such as a CPU (Central Processing Unit), MPU (Micro-Processing Unit) or GPU (Graphics Processing Unit), and are equipped with external storage devices such as ROM (Read Only Memory), RAM (Random Access Memory), and HDD (Hard Disk Drive), communication control devices, etc., and the above-mentioned configurations and functions are realized by the CPU, etc. reading and running programs stored in the ROM, RAM, HDD, etc.

[0111] The programs operating on the business operator server 100, business operator server 700, securities company server 200, user terminal 300, ST issuance / ledger management server 400, BCN 500, BC management server 600, SPC / LLC server 800, trust bank / management trust company server 900, and SPC holdings server 1000, etc., may be stored on a computer connected to a network N such as the Internet and provided by downloading via the network N, or may be recorded as installable or executable files on a computer-readable recording medium such as a CD-ROM, DVD, USB memory, or SD card and provided. In addition, some or all of the programs that realize the above-mentioned functions and processes may be provided in the form of an API (Application Programming Interface), SaaS (Software as a Service), etc.

[0112] The present invention is not limited to the above-described embodiments, and does not necessarily have to be physically configured as shown in the drawings. Furthermore, the present invention can be configured by functionally or physically dividing, integrating, replacing, modifying, or deleting all or part of the components described in the embodiments in any unit depending on various loads, usage conditions, etc. [Explanation of symbols]

[0113] 10... Special Real Estate Transaction Management System, 20... Beneficiary Certificate Transaction Management System, 100... Operator Server, 110... Control Unit, 111... Real Estate Investment Management Unit, 112... Real Estate Investment Interest Monetary Claim Composition Unit, 113... Transaction Management Unit, 114... Transaction Management Unit, 115... Contract Generation Unit, 116... Dividend Calculation Unit, 117... Real Estate Replacement Unit, 120... Memory Unit, 121... Managed Real Estate DB, 122... Private Key, 130... Communication Unit, 140... Input / Output Unit, 200... Securities Company Server, 210... Control Unit, 211... Contract Generation Unit, 212... Transaction Management Unit, 220... Memory Unit, 221... Private Key, 230... Communication Unit, 240... Input / Output Unit input unit, 300...user terminal, 400...ST issuance / ledger management server, 500...BCN, 600...BC management server, 700...business operator server, 710...control unit, 720...storage unit, 800...SPC / LLC server, 810...control unit, 811...ST transfer unit, 812...contract generation unit, 820...storage unit, 821...private key, 830...communication unit, 900...trust bank / management trust company server, 910...control unit, 911...ST issuance unit, 912...ST transfer unit, 920...storage unit, 921...private key, 930...communication unit, 1000...SPC holdings server, N...network

Claims

1. a real estate investment method that determines whether or not to invest in a target real estate based on predetermined conditions; a security token issuing means for issuing a security token representing a real estate investment interest monetary claim constituted from the target real estate determined to be incorporated by the real estate investment means; A security token issuing system comprising:

2. a real estate investment method that determines whether or not to invest in a target real estate based on predetermined conditions; A security token issuing means for issuing beneficiary certificate security tokens that are security tokens of beneficiary certificates provided by establishing a beneficiary certificate issuing trust for real estate investment interest monetary claims formed from real estate determined to be incorporated by the real estate incorporating means; A security token issuing system comprising:

3. 3. The security token issuing system according to claim 1 or claim 2, further comprising a real estate replacement means for determining whether each of the target real estate properties incorporated into the real estate investment interest monetary claim satisfies predetermined conditions at a predetermined time, and replacing the target real estate properties that do not satisfy the predetermined conditions with real estate properties that satisfy the predetermined conditions.

4. 3. The security token issuing system according to claim 1, wherein the real estate incorporating means determines whether a new real estate satisfies a predetermined condition, and incorporates the real estate that satisfies the predetermined condition.

5. The security token issuing system according to claim 1 or claim 2, wherein the real estate incorporating means incorporates target real estate where k in the following formula (1) is equal to or greater than a predetermined value as the predetermined condition. X-Y-{(k+C / 100) / 100×(100-α) / 100}×Z={(k+C / 100) / 100×α / 100}×Z+R+T... Formula (1) X: Estimated annual rent for the target property at full occupancy x average annual occupancy rate Y: Annual operating and management fee for the target property k: Distribution rate (%) C: Consumer Price Index (CPI) year-on-year change (%) α: Subordinated investor (operator) investment ratio (%) Z: Appraisal value of the target property R: Salesperson's remuneration (annual) T: Capital investment costs for systems, etc., and sales and administrative expenses such as underwriting fees to securities companies (annual)

6. A dividend distribution system comprising a dividend calculation means for calculating dividends to owners of non-specialized law security tokens or beneficiary certificate security tokens at a predetermined time according to the owner's period of ownership.

7. The dividend distribution system according to claim 6, further comprising a dividend payment means for transferring to the owner a non-specialized law security token or a beneficiary certificate security token equivalent to the dividend calculated by the dividend calculation means.

8. A security token payment system comprising a security token payment means whereby, when a payer and a receiver agree to payment using a non-specialized law security token or a beneficiary certificate security token, the payer transfers the non-specialized law security token or the beneficiary certificate security token to the receiver in proportion to the consideration.

9. 1. A computer-implemented method for issuing security tokens, comprising: a real estate incorporation step of determining whether or not to incorporate a target real estate based on predetermined conditions; a security token issuing step of issuing a security token representing a real estate investment interest monetary claim constituted from the target real estate determined to be incorporated in the real estate incorporating step; A security token issuing method including:

10. 1. A computer-implemented method for issuing security tokens, comprising: a real estate incorporation step of determining whether or not to incorporate a target real estate based on predetermined conditions; a security token issuing step of issuing a beneficiary certificate security token by converting the beneficiary certificates provided by establishing a beneficiary certificate issuing trust with the real estate investment interest monetary claims formed from the real estate determined to be incorporated in the real estate incorporating step as trust assets; and A security token issuing method including:

11. 11. The security token issuing method according to claim 9 or claim 10, further comprising a real estate replacement step of determining whether each of the target real estate properties incorporated into the real estate investment interest monetary claim satisfies predetermined conditions at a predetermined time, and replacing the target real estate properties that do not satisfy the predetermined conditions with real estate properties that satisfy the predetermined conditions.

12. 11. The security token issuing method according to claim 9, wherein the real estate incorporating step determines whether a new real estate satisfies a predetermined condition, and incorporates the real estate that satisfies the predetermined condition.

13. 11. The security token issuing method according to claim 9 or claim 10, wherein the real estate incorporating step incorporates target real estate where k is equal to or greater than a predetermined value in the following formula as the predetermined condition: X-Y-{(k+C / 100) / 100×(100-α) / 100}×Z={(k+C / 100) / 100×α / 100}×Z+R+T... Formula (1) X: Estimated annual rent for the target property at full occupancy x average annual occupancy rate Y: Annual operating and management fee for the target property k: Distribution rate (%) C: Consumer Price Index (CPI) year-on-year change (%) α: Subordinated investor (operator) investment ratio (%) Z: Appraisal value of the target property R: Salesperson's remuneration (annual) T: Capital investment costs for systems, etc., and sales and administrative expenses such as underwriting fees to securities companies (annual)

14. A computer-implemented method for allocating dividends, comprising: A dividend distribution method including a dividend calculation step of calculating dividends to owners of non-specialized law security tokens or beneficiary certificate security tokens at a predetermined time according to the owner's period of ownership.

15. The dividend distribution method according to claim 14, further comprising a dividend payment step of transferring to the owner a non-specialized law security token or a beneficiary certificate security token equivalent to the dividend calculated by the dividend calculation step.

16. A computer-implemented security token payment method, comprising: A security token payment method including a security token payment step in which, when a payer and a receiver agree to payment by non-specialized law security token or beneficiary certificate security token, the payer transfers the non-specialized law security token or beneficiary certificate security token to the receiver in accordance with the consideration.

17. A program for causing a computer to execute the method according to any one of claims 9 to 16.

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