Blockchain Time-Sensitive Information Dissemination
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Solution Overview
Problem
Current electronic platforms for disseminating time-sensitive information, such as news and regulatory filings, face challenges with audit trail gaps and increased complexity leading to errors, despite the inclusion of encryption and access control features.
Innovation Solution
A computer system utilizing blockchain technology to securely record and disseminate time-sensitive information, employing smart contracts and multi-signature requirements to ensure secure and timely access by intended recipients, with an embedded audit trail for transparency and reliability.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If encryption features and access control functionality are added to electronic platforms, then security is improved, but device complexity increases and audit trail gaps occur
Solution Approach 1:
The patent combines multiple security functions (encryption, access control, audit trails, and information dissemination) into a unified blockchain-based system. The blockchain ledger integrates all these features natively, eliminating the need for separate complex security modules while maintaining comprehensive security coverage and complete audit trails.
Solution Approach 2:
The blockchain system performs multiple functions simultaneously: it stores information securely, manages access control through smart contracts, maintains immutable audit trails, and disseminates information to recipients. This multi-functional approach reduces overall system complexity compared to having separate systems for each function.
2Reliability
If workflow functionality for editing and review is added, then information quality is improved, but device complexity increases and errors occur
Solution Approach 1:
The system uses smart contracts that automatically execute workflow functions based on predefined conditions. The blockchain network itself performs the editing, review, and approval processes through automated smart contract logic, eliminating the need for complex manual workflow management systems and reducing human error.
Solution Approach 2:
The blockchain provides automatic feedback mechanisms where smart contracts monitor and enforce workflow rules, automatically notifying relevant parties of status changes and ensuring proper sequencing of editing and review processes. This automated feedback loop maintains information quality without requiring complex manual coordination.
3Reliability
If multiple security features are implemented, then security is improved, but loss of time occurs due to increased processing requirements
Solution Approach 1:
Security measures are built into the blockchain system from the outset rather than being added as post-processing steps. Information is encrypted and access controls are established when the information is first stored on the blockchain, eliminating the need for time-consuming security processing at later stages.
Solution Approach 2:
The blockchain combines multiple security operations into a single distributed consensus process. Instead of sequentially applying encryption, access control checks, and audit logging as separate time-consuming operations, the blockchain performs these functions simultaneously through its native protocol, significantly reducing total processing time.
Data Source
AI summary
An information computer system is provided for securely releasing time-sensitive information to recipients via a blockchain. A submitter submits a document to the system and a blockchain transaction is generated and submitted to the blockchain based on the document (e.g., the document is included as part of the blockchain transaction). An editor may edit the document and an approver may approve the document for release to the recipients. Each modification and/or approval of the document is recorded as a separate transaction on the blockchain where each of the submitter, editor, approver, and recipients interact with the blockchain with corresponding unique digital identifiers—such as private keys.