Adjustable-Visibility Message Chains for Private Trade Negotiations
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Solution Overview
Problem
Bilateral trade negotiations are inefficient, fragmented, and lack transparency, leading to manual, labor-intensive processes that hinder liquidity, competitive pricing, and compliance with regulatory requirements.
Innovation Solution
A blockchain-based system for message data recordation that adjusts visibility permissions, creating subsidiary chains to maintain privacy during negotiations while ensuring immutable reporting to regulators and clearing houses.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual negotiation processes are used, then flexibility in communication is maintained, but productivity and efficiency deteriorate
Solution Approach 1:
The patent replaces manual mechanical negotiation processes with an automated blockchain-based system. The blockchain platform automatically records communication sequences, manages visibility permissions, and ensures immutable reporting, eliminating the need for manual tracking and self-reporting while significantly improving negotiation efficiency and productivity.
Solution Approach 2:
The system enables self-service through automated processes where the blockchain network automatically records, verifies, and reports negotiation data. Participants can communicate and negotiate without requiring manual intervention for record-keeping or regulatory reporting, as the system self-manages these functions through smart contracts and automated protocols.
2Loss of information
If fragmented communication tools are used, then communication flexibility is maintained, but information availability for audit trails deteriorates
Solution Approach 1:
The patent merges multiple fragmented communication tools and data sources into a single unified blockchain-based communication sequence recorder. This integrated system captures all negotiation data across different communication channels in one immutable ledger, ensuring complete information availability for audit trails while maintaining the flexibility of various communication modes.
Solution Approach 2:
The blockchain-based system serves multiple functions simultaneously: it records communication sequences, manages visibility permissions, ensures data immutability, and provides regulatory reporting capabilities. This universal platform replaces multiple specialized tools with one multi-functional system that handles all negotiation data management requirements.
3Reliability
If self-reporting is used, then regulatory compliance is maintained, but time for reporting and accuracy deteriorate
Solution Approach 1:
The system performs preliminary actions by automatically recording and verifying negotiation data in real-time as communications occur on the blockchain. This eliminates the need for post-negotiation self-reporting, as all data is already captured, verified, and ready for regulatory submission before compliance requirements arise, significantly reducing reporting time and improving accuracy.
Solution Approach 2:
The blockchain system provides continuous feedback to regulators through automated reporting mechanisms. The immutable ledger automatically generates and transmits compliance data to regulatory authorities, ensuring real-time or near-real-time reporting accuracy and eliminating the delays and potential errors associated with manual self-reporting processes.
4Loss of information
If privacy is maintained during negotiations, then participant confidence is improved, but transparency for regulators deteriorates
Solution Approach 1:
The patent segments information visibility into different levels and categories. The blockchain system maintains private negotiation data for participants while creating separate transparent records for regulators. Through selective disclosure mechanisms and permissioned access controls, the system segments information so that sensitive negotiation details remain private while regulatory compliance information remains transparent and accessible to authorities.
Data Source
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AI summary
A method for message data recordation includes receiving an originating message for an initial communication event of a sequence of communication events, parsing the originating message to extract message data specifying a first group of participants to which the originating message is visible, storing the extracted message data in a data structure, the data structure being replicated by a respective communication processor of each participant of the first group of participants, generating a responsive message to the originating message, the responsive message including responsive message data, the responsive message data including recipient data, the recipient data permissioning a second group of participants to which the responsive message is visible, creating a subsidiary data structure of the data structure, storing the responsive message data in the subsidiary data structure, and transmitting, to the second group of participants, the responsive message such that receipt of the responsive message causes the subsidiary data structure to be replicated by the respective communication processor of each participant in the second group of participants.