Blockchain Promotion System for Decentralized Trade Settlement
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Solution Overview
Problem
Centralized databases face issues such as single points of failure, dependency on network connectivity, limited data access, and lack of data redundancy, which hinder efficient trade promotion strategies and lead to low success rates in consumer-centric marketing efforts.
Innovation Solution
A consumer-centric automated trade promotion system utilizing a blockchain network to acquire and analyze product exploration data, generate promotion tokens, and execute smart contracts for incentivizing manufacturers and retailers, ensuring immutability, security, and decentralized data management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a centralized database is used to store product data, then data management and control are simplified, but the system has a single point of failure and limited data access
Solution Approach 1:
The patent divides the centralized database into multiple distributed nodes across a blockchain network. Each node maintains a copy of the product data, eliminating the single point of failure while preserving data management capabilities through consensus mechanisms and standardized data structures.
2Quantity of substance
If a centralized database is used, then data redundancy is minimized, but data loss is difficult to retrieve and access is limited
Solution Approach 1:
The patent creates multiple identical copies of the product data across distributed blockchain nodes. Each node stores the same product information, ensuring that data can be retrieved from any node, thus eliminating data loss risks while maintaining efficient access through the distributed network.
3Productivity
If traditional trade promotion activities are used, then manufacturers can move merchandise, but success rate is low due to mismatch with consumer buying patterns
Solution Approach 1:
The patent implements a feedback mechanism where consumer product exploration data from the blockchain is continuously analyzed to generate insights about buying patterns. These insights feed back into the promotion planning process, enabling dynamic adjustment of promotion strategies to match actual consumer behavior and significantly improve success rates.
4Adaptability or versatility
If consumer buying pattern-based promotion activities are used, then promotions can be tailored to consumers, but they depend on billed items that are often never used
Solution Approach 1:
The patent delivers promotion tokens to consumers before the point of sale based on their product exploration behavior. This preliminary action allows consumers to receive targeted promotions in advance, increasing the likelihood of usage while eliminating the problem of unused billed items through real-time behavioral analysis and immediate token delivery.
5Adaptability or versatility
If complex settlement processes are used for sharing benefits, then manufacturers and retailers can share promotion benefits, but irregularities prop up during the settlement process
Solution Approach 1:
The patent implements self-service settlement through automated smart contracts on the blockchain. The system automatically calculates and distributes promotion benefits to manufacturers and retailers based on predefined rules and actual transaction data, eliminating manual settlement processes and their associated irregularities while maintaining flexible benefit sharing across multiple parties.
Data Source
AI summary
An example operation may include one or more of acquiring, by a promotion processor node, consumer exploration of a product data from a blockchain, determining, by the promotion processor node, features of the product, receiving, by the promotion processor node, a promotion plan from at least one product retailer node, and executing a smart contract to generate a plurality of promotion tokens based on the features of the product and the promotion plan.