Integrated Asset Record Ledger for Secure Condition Tracking
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Solution Overview
Problem
The decentralized and disorganized nature of asset information, such as equipment usage and maintenance records, makes it challenging to evaluate asset value and condition accurately, as multiple sources may be needed, leading to potential inaccuracies and security risks.
Innovation Solution
A computer-implemented method and system that creates and maintains an integrated record of asset usage, maintenance, and condition using blockchain technology, collecting data, analyzing it to determine asset characteristics, and securely storing these characteristics alongside raw data for reliable decision-making.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If asset information is stored in a decentralized manner across multiple sources, then information completeness is improved, but information accuracy and security deteriorate due to potential tampering and falsification
Solution Approach 1:
The patent merges decentralized asset information from multiple sources (operators, servicers, owners) into a single centralized ledger that all parties access. This consolidation maintains information completeness while ensuring accuracy through a trusted central repository that prevents tampering and falsification, directly resolving the contradiction between decentralized completeness and centralized reliability.
2Reliability
If all asset data is collected and stored centrally, then information accuracy is improved, but device complexity increases due to the need to manage vast amounts of data
Solution Approach 1:
The patent extracts and stores only essential asset characteristics (usage, maintenance, condition) in the centralized ledger, rather than storing all raw asset data. This selective extraction maintains information accuracy for valuation purposes while significantly reducing data management complexity, as the ledger contains only the most relevant features needed for asset evaluation.
3Loss of information
If vast amounts of asset data are stored, then information completeness is improved, but ease of operation deteriorates because the raw data is too complex to be useful
Solution Approach 1:
The patent performs preliminary analysis and processing of asset data before storing it in the ledger. Asset characteristics are pre-calculated and organized into meaningful categories (usage, maintenance, condition) rather than storing raw unprocessed data. This preliminary action makes the stored information immediately usable for asset valuation and decision-making, eliminating the need for complex data processing by end users.
Data Source
AI summary
Systems and methods for improving recordkeeping and analysis of an asset include creating and maintaining an integrated record about the asset. In some embodiments, the systems and methods include collecting data about an asset to form an asset data collection, recording the asset data collection in a record, analyzing at least a portion of the asset data collection to determine a characteristic of the asset, and recording the characteristic of the asset in the record. In some embodiments, recording the characteristic in the record includes adding the characteristic to the asset data collection.