Blockchain Contingent Action Tokens for Secure Asset Retitling
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Solution Overview
Problem
Global enterprise operations face challenges in communicating, manipulating, and enhancing data related to financial affairs, including refreshing asset bases, unlocking untapped asset value, and rapidly retitling new or re-spun assets, which are exacerbated by the increasing velocity and volume of data communication.
Innovation Solution
A communication system that facilitates secure asset reconfiguration and reassignment by determining desired financial attributes, acquiring an augmenting asset bundle, and enhancing the financial system using blockchain-encoded longevity-contingent instruments and contingent action tokens to manipulate and retitle assets, ensuring secure financial transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional communication systems are used to communicate financial data, then data communication velocity and volume can be maintained, but security and reliability of financial transactions deteriorate
Solution Approach 1:
The patent introduces a contingent action token as an intermediary that mediates between the asset owner and the financial system. The token encapsulates the asset representation and contains embedded instructions that automatically execute specific actions (transfer, freeze, liquidate) based on predetermined conditions, thereby enhancing security without requiring complex manual verification processes
Solution Approach 2:
The patent replaces traditional manual or mechanical asset transfer processes with an automated digital token system. The contingent action token uses embedded code and automated execution mechanisms to perform asset reconfiguration and reassignment, eliminating the need for complex manual intervention while maintaining high security standards
2Productivity
If manual asset reconfiguration processes are used, then security can be maintained, but processing speed and productivity deteriorate
Solution Approach 1:
The patent embeds action instructions and security parameters into the contingent action token during its creation phase. The token is pre-configured with specific actions (transfer, freeze, liquidate) and conditions that will automatically execute, eliminating the need for manual processing during actual asset reconfiguration while maintaining security through pre-validated instructions
Solution Approach 2:
The contingent action token is designed to self-execute based on embedded conditions and instructions. The token automatically performs asset reconfiguration actions without requiring external manual intervention, thereby increasing processing speed while maintaining security through programmatically enforced rules and automated verification
3Adaptability or versatility
If traditional asset management systems are used, then system complexity can be reduced, but ability to unlock untapped asset value and refresh asset base deteriorates
Solution Approach 1:
The patent creates a dynamic asset management system where the contingent action token can be reconfigured and reassigned based on changing financial conditions. The token's embedded instructions allow for flexible retitling and reconfiguration of asset representations, enabling the system to adapt to new opportunities and refresh the asset base without requiring complete system redesign
Solution Approach 2:
The contingent action token serves multiple functions within the financial system: it represents asset ownership, encodes transfer instructions, implements security conditions, and enables automated execution of various asset management actions. This multi-functionality allows a single token mechanism to handle diverse asset reconfiguration needs without requiring separate specialized systems for each function
Data Source
AI summary
A method executed by a computing device includes identifying a contingency-action token (CAT) of an object distributed ledger that meets minimum CAT requirements. The method further includes producing a selected CAT and determining a triggered outcome is valid. The method further includes facilitating taking control of an identified second selected CAT of a blockchain of the object distributed ledger using a securely passing process and updating the second selected CAT to include reassignment information to produce an updated CAT. The method further includes causing generation of a new block affiliated with the updated CAT via the blockchain of the object distributed ledger using the securely passing process, where the new block includes the updated CAT.