Customizable Valuation Matching for Complex Barter Exchanges
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Solution Overview
Problem
Existing automated computer systems struggle to implement exchange systems beyond traditional money-based transactions, particularly in barter systems, due to the exponentially increased number of transaction combinations and lack of a common medium of exchange, measure of value, or store of value.
Innovation Solution
A computer system that allows participants to define customizable valuation templates and agents, which include valuation functions for resources, enabling pair-wise evaluation and matching based on properties and quantities, using a common unit of exchange.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a barter-based exchange system is implemented without a common medium of exchange, then versatility of exchangeable resources is improved, but system complexity increases exponentially due to the number of transaction combinations
Solution Approach 1:
The patent introduces a computer system as an intermediary that manages barter transactions by automatically evaluating valuation functions, matching compatible agents, and coordinating exchanges. This intermediary handles the complexity of multiple resource combinations, allowing participants to engage in versatile barter transactions without manually managing the exponential complexity of direct peer-to-peer matching.
Solution Approach 2:
The system transforms the barter exchange problem by introducing valuation functions that assign numerical values to diverse resources based on their properties. By converting qualitative resource characteristics into quantitative valuation parameters, the system enables automated comparison and matching of incompatible resource types, thereby managing complexity while maintaining versatility.
2Measurement precision
If customizable valuation functions with multiple properties are used to evaluate diverse resources, then measurement precision of resource value is improved, but computational requirements increase
Solution Approach 1:
The valuation process is segmented into distinct components: resource property identification, valuation function selection, parameter evaluation, and match scoring. By breaking down the complex valuation task into sequential segments, the system achieves precise multi-property evaluation while managing computational load through structured processing stages rather than simultaneous computation.
Solution Approach 2:
Agents submit their valuation functions and resource properties in advance to the computer system before actual matching occurs. The system pre-processes and stores these valuation parameters, allowing rapid comparison during the matching phase without recalculating fundamental resource valuations, thereby reducing real-time computational requirements while maintaining precision.
Data Source
AI summary
A computer system is provided that allows participants to submit agent data structures for processing. Each agent data structure includes a valuation function for a first resource and a property of a second resource. The computer system performs a dual sided evaluation process to determine when contra-sided agents match with one another. A match is determined by comparing results of valuation functions of the agent data structures.