Blockchain Cyber Trade Show System
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Solution Overview
Problem
Conventional trade shows face challenges such as canceled events due to pandemics, high costs, and ineffective dispute resolution between vendors and buyers, especially when parties are from different countries, along with issues of payment and merchandise discrepancies.
Innovation Solution
A cloud-based cyber trade show system operated on a blockchain, featuring a visitor decentralized application and a vendor decentralized application, which includes virtual reality exhibition venues, smart contracts for payment and verification, and automatic billing and transfer procedures to ensure transparent and secure transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manufacturers participate in physical trade shows to contact buyers directly, then order placement opportunities improve, but travel costs and time consumption increase significantly
Solution Approach 1:
The patent creates a virtual copy of the physical trade show environment through blockchain-based virtual booths and exhibition spaces. Manufacturers can exhibit their products and contact buyers through this digital replica, eliminating the need for physical travel while maintaining the core functionality of direct buyer-vendor interaction.
Solution Approach 2:
The patent transitions the trade show from physical three-dimensional space to digital virtual space. By creating a blockchain-based virtual exhibition environment, the system allows participants to engage in trade activities without leaving their locations, effectively adding a digital dimension to traditional trade shows.
2Productivity
If manufacturers design and set up physical booths at trade shows, then brand and product characteristics are effectively exhibited, but manpower and material resources are wasted
Solution Approach 1:
Instead of building physical booths that consume materials and require setup crews, the patent uses digital virtual booths on the blockchain platform. These virtual exhibits can be created and modified digitally, eliminating waste of physical materials and reducing manpower requirements while maintaining effective brand presentation.
Solution Approach 2:
The patent replaces the mechanical system of physical booth construction with digital rendering and blockchain-based virtual environment creation. This substitution eliminates the need for physical materials, transportation logistics, and setup/teardown crews, significantly reducing resource consumption.
3Productivity
If vendors and buyers from different countries conduct transactions at physical trade shows, then international business opportunities increase, but dispute resolution becomes difficult
Solution Approach 1:
The patent implements a blockchain-based feedback and verification system where transaction details, product specifications, and payment terms are recorded immutably on the blockchain. This creates a transparent audit trail that can be verified by all parties, enabling effective dispute resolution even across different countries and jurisdictions.
Solution Approach 2:
The blockchain platform acts as a neutral intermediary between international vendors and buyers. The smart contracts and decentralized ledger provide a trusted third-party mechanism that facilitates transactions and provides objective evidence for dispute resolution, eliminating the need for complex international legal proceedings.
4Productivity
If physical trade shows are held to showcase latest technologies, then buyers can learn technologies at one time, but natural factors like flight delays can prevent timely attendance
Solution Approach 1:
The patent creates a digital dimension for technology exhibition that is not constrained by physical geography or weather conditions. Buyers can access the virtual trade show from any location at any time, ensuring reliable attendance while maintaining the efficiency of acquiring multiple technology updates in one session.
Solution Approach 2:
The virtual trade show creates a digital copy of the technology exhibition experience, allowing buyers to view and interact with latest technologies without being physically present. This ensures that information acquisition efficiency is maintained while eliminating the reliability issues associated with physical travel and attendance.
Data Source
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AI summary
A cloud-based cyber trade show system (100) operated on a blockchain is provided. The cloud-based cyber trade show system (100) includes a visitor decentralized application (1) and a vendor decentralized application (2). Visitors use the visitor decentralized application (1) to visit a virtual reality exhibition venue (11). Exhibition vendors use the vendor decentralized application (2) to upload exhibit data to the virtual reality exhibition venue (11), and use the vendor decentralized application (2) to establish an exhibition smart contract (B). The exhibition smart contract (B) automatically verifies the exhibit data of the virtual reality exhibition venue (11) and automatically performs billing and transfer of payments.