Blockchain Asset Tracking via Tokenized Nodes

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Solution Overview

Problem

Existing monetary systems face challenges in efficiently tracking and managing transactions across multiple access points, leading to complex interfaces, decreased transparency, increased operational costs, and replicated data.

Innovation Solution

A system that uses tokenized representations of physical entities as nodes on a blockchain platform, allowing for virtual and physical tracking of assets. This system generates blocks containing transaction data, which are validated by nodes and appended to a blockchain, ensuring transparent and secure transaction management.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If multiple access points with distinct systems are used for managing assets, then service coverage and accessibility are improved, but system complexity and difficulty of tracking transactions increase

Engineering Contradiction:

Improveservice coverageVSAvoidsystem complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent merges multiple distinct access point systems into a unified blockchain-based platform. Each access point (bank, ATM, TCR) is represented as a node on the blockchain network, eliminating the need for separate tracking systems. The blockchain serves as a common ledger that all access points use to record and track transactions, thereby reducing overall system complexity while maintaining comprehensive service coverage.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The blockchain platform provides universal functionality across all access points. A single blockchain infrastructure supports multiple types of transactions (deposit, withdrawal, transfer) across different access points (banks, ATMs, TCRs). This multi-functional approach eliminates the need for access-point-specific tracking systems, reducing complexity while enhancing versatility.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Adaptability or versatility

If multiple access points with distinct systems are used for managing assets, then service coverage is improved, but transparency of transactions decreases

Engineering Contradiction:

Improveservice coverageVSAvoidtransaction transparency

Core Design Contradiction:

Adaptability or versatilityVSLoss of information

Solution Approach 1:

By combining all access points into a single blockchain network with a shared ledger, the system achieves complete transaction transparency. Every transaction recorded on the blockchain is visible to all authorized participants, eliminating the information silos that exist in separate systems. This unified approach maintains service coverage while ensuring full visibility of transactions across all access points.

Inventive Principle:

Principle #5Merging (Combining)

3Adaptability or versatility

If multiple access points with distinct systems are used for managing assets, then service coverage is improved, but operational costs increase

Engineering Contradiction:

Improveservice coverageVSAvoidoperational costs

Core Design Contradiction:

Adaptability or versatilityVSLoss of energy

Solution Approach 1:

The patent consolidates operational resources by merging multiple distinct tracking systems into a single blockchain infrastructure. Instead of each access point maintaining separate tracking systems and performing redundant validation, the shared blockchain provides centralized transaction recording and validation. This eliminates duplicate operational expenses while preserving the ability to serve through multiple access points.

Inventive Principle:

Principle #5Merging (Combining)

4Ease of operation

If traditional transaction tracking systems are used across multiple access points, then ease of operation at individual points is maintained, but reliability of transaction tracking decreases

Engineering Contradiction:

Improveease of operationVSAvoidtracking reliability

Core Design Contradiction:

Ease of operationVSReliability

Solution Approach 1:

The blockchain platform provides universal transaction tracking functionality that works across all access points. Each access point continues to operate independently at the user interface level, maintaining ease of operation. However, the underlying blockchain provides reliable, unified tracking of all transactions across the entire network, eliminating the unreliability of separate tracking systems.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS20250111344A1Systems and methods for virtual and physical tracking of assets

Publication Date: 2025.04.03 WELLS FARGO BANK NA

AI summary

Systems and methods for virtual and physical tracking of assets is provided. A system may receive, from a first node of multiple nodes, a request to perform a transaction of an asset between the first node and a second node of the nodes. Each node may be tokenized representations of a respective physical entity for managing assets. The system may generate a block. The system may transmit the block to each of the nodes. The system may receive, from each of the nodes, a respective message indicating validation of the transaction. The system may append the block onto a blockchain based on receiving the validation. The blockchain may include multiple blocks associated with respective transactions between nodes.