Blockchain Asset Tracking via Segmented Transaction Records
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Solution Overview
Problem
Existing blockchain systems lack efficient and secure methods for tracking ownership and usage of assets across multiple users and clients, while also ensuring immutability, security, and auditability.
Innovation Solution
A computer-implemented method and system for tracking ownership and usage of assets on a blockchain, involving the receipt of creation requests, usage messages, and ownership update requests, which are then submitted as transactions to the blockchain, ensuring secure, immutable, and synchronized tracking of events.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If blockchain systems store detailed asset ownership and usage data for multiple users, then auditability and traceability are improved, but storage requirements and system complexity increase
Solution Approach 1:
The patent segments asset tracking data into distinct blockchain transactions: creation transactions, usage transactions, and ownership transfer transactions. Each transaction type stores specific relevant data independently, avoiding the need to store all possible data types in a single complex structure. This segmentation improves auditability while managing system complexity through modular data organization.
Solution Approach 2:
The patent introduces an intermediary layer between the blockchain and asset management operations. This intermediary validates and structures data before submission to the blockchain, handling complex data processing externally while storing only essential immutable records on-chain. This reduces blockchain complexity while maintaining comprehensive auditability through the intermediary's processing layer.
2Reliability
If blockchain systems record all asset usage events and ownership changes, then data completeness and security are improved, but transaction volume and processing time increase
Solution Approach 1:
The patent extracts only the essential elements needed for auditability and security to be stored on the blockchain, while keeping detailed operational data off-chain or in local systems. For each asset event, only critical identifiers (asset ID, owner ID, timestamp, event type) are committed to the blockchain, maintaining data completeness for security purposes while reducing transaction volume and processing time.
Solution Approach 2:
The patent implements partial recording on-chain by storing sufficient data to ensure security and auditability without recording every detail of asset usage. The blockchain contains partial records that provide cryptographic proof of ownership and usage events, while complete detailed logs are maintained in more efficient off-chain storage systems.
3Reliability
If blockchain systems implement comprehensive asset tracking across multiple clients, then security and immutability are improved, but data synchronization and coordination complexity increase
Solution Approach 1:
The patent creates a universal asset tracking framework that works across multiple clients and asset types through standardized transaction structures. All clients use the same transaction formats for asset creation, usage, and transfer events, enabling consistent immutable recording across the network without requiring client-specific synchronization logic. This universality reduces coordination complexity while maintaining security.
4Reliability
If blockchain systems store detailed asset data and transaction history, then traceability and accountability are improved, but storage costs and network bandwidth requirements increase
Solution Approach 1:
The patent uses cryptographic hashing to create compact representations of asset data and transaction histories. Instead of storing complete detailed records for every asset event on the blockchain, the system stores cryptographic hashes that serve as immutable fingerprints. This enables traceability through hash verification while dramatically reducing the storage volume required on the blockchain network.
Data Source
AI summary
A computer-implemented method for tracking, on a blockchain, at least two clients interacting with an asset, wherein the blockchain comprises a set of transactions associated with the asset, and a set of transactions associated with each client. The asset tracking comprising receiving an asset interaction event request comprising data based on at least two clients associated with an asset interaction event and data indicative of the asset, generating an event transaction based on a reference to the set of transactions associated with the asset and references to the sets of transactions associated with the at least two clients, and submitting the event transaction to the blockchain.