Contingent Asset Token Workflow for Secure Smart Contract Listing
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Solution Overview
Problem
Existing computer systems lack efficient methods for handling and valuing contingent assets, particularly in transactions where the asset's value is contingent upon future fulfillment of certain conditions, leading to uncertainties and inefficiencies in asset listing, transaction, and risk assessment.
Innovation Solution
A computing system is developed to manage contingent assets by authenticating their validity, determining risk levels, negotiating listings, facilitating transactions, and updating asset status using blockchain technology to ensure secure and transparent processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional asset management systems are used for contingent assets, then existing asset listing and transaction techniques can be applied, but the systems lack efficiency in handling and valuing contingent assets due to uncertainties in future condition fulfillment
Solution Approach 1:
The patent introduces a contingent asset token as an intermediary digital representation that encapsulates the contingent asset's terms, conditions, and valuation parameters. This token acts as a mediator between the asset owner and potential buyers, enabling efficient listing and transaction processing while maintaining accurate valuation through encoded contingency criteria. The token structure allows automated evaluation of future conditions, resolving the contradiction between handling efficiency and valuation accuracy.
2Reliability
If blockchain technology is implemented to ensure secure and transparent processing, then transaction security and transparency are improved, but system complexity increases
Solution Approach 1:
The patent extracts the complex security and transparency requirements from the overall processing system and implements them specifically within the blockchain layer. The contingent asset token and its associated smart contract encapsulate the security logic, while the blockchain provides the transparent ledger. This extraction allows the core asset management functionality to remain relatively simple while achieving high security and transparency through the specialized blockchain component.
3Reliability
If multiple actions are required for processing contingent assets (authentication, risk determination, negotiation, transaction facilitation), then thorough processing is achieved, but processing time and operational complexity increase
Solution Approach 1:
The patent merges multiple processing actions into a unified contingent asset token structure and automated workflow. Authentication, risk determination, and transaction facilitation are combined into single integrated steps enabled by the token's encoded information and smart contract logic. The token itself consolidates asset terms, valuation data, and contingency criteria that would otherwise require separate processing steps, thereby reducing overall processing time while maintaining thoroughness.
Data Source
AI summary
A method includes a computing entity issuing to an asset authenticity computing entity a request to select and authenticate a digital record that represents an available contingent asset based on a digital record representing a hypothetical contingent asset to produce a selected contingent asset. The method further includes determining that authenticity information associated with the selected contingent asset indicates that the selected contingent asset matches the hypothetical contingent asset. The method further includes, when approved, generating a smart contract to indicate availability of the selected contingent asset and obtaining a copy of an object distributed ledger. The method further includes causing inclusion of a next block on the object distributed ledger that includes the smart contract to represent the selected contingent asset.