Intermediary System for Digital Asset Usage Tracking on Distributed Ledgers
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Solution Overview
Problem
Current digital service provider (DSP) computing systems cannot communicate with distributed ledgers to track or monitor usage of digital assets, and distributed ledgers cannot record usage information from DSP systems, leading to a lack of comprehensive usage data for digital tokens.
Innovation Solution
A system comprising a processor configured to generate and transmit identifiers for digital tokens associated with immutable assets and smart contract objects, allowing for the recording of usage metrics on distributed ledgers, enabling communication between DSP systems and distributed ledgers to track and monitor digital asset interactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If DSP computing systems operate independently without distributed ledger integration, then system simplicity is maintained, but usage tracking capability is lost
Solution Approach 1:
The patent introduces an intermediary computing system that acts as a bridge between the DSP computing system and the distributed ledger. This intermediary receives usage data from the DSP system, processes it, and records it on the distributed ledger, thereby enabling usage tracking without requiring direct integration between the DSP system and the ledger, thus maintaining relative system simplicity while preventing information loss.
2Ease of operation
If distributed ledgers remain isolated from DSP systems, then ledger security and immutability are preserved, but usage monitoring capability is reduced
Solution Approach 1:
The intermediary computing system serves as a communication mediator that handles all interactions between the DSP system and the distributed ledger. It manages the complexity of communication protocols, data formatting, and transaction processing, thereby enabling ease of usage monitoring for end users while isolating the ledger from direct complex interactions with external systems.
Solution Approach 2:
The distributed ledger system is designed to autonomously receive, validate, and record usage data through smart contracts without requiring manual intervention or complex configuration. The ledger self-manages the recording process, validating incoming data against predefined criteria and automatically updating the blockchain, thus reducing operational complexity while enhancing monitoring capabilities.
3Loss of information
If comprehensive usage tracking is implemented, then data completeness is improved, but processing time increases
Solution Approach 1:
The system pre-processes and validates usage data before it is submitted to the distributed ledger. The intermediary computing system aggregates usage metrics, performs initial validation against smart contract criteria, and formats data in advance, thereby reducing the processing time required when data needs to be recorded on the blockchain and preventing information loss.
Solution Approach 2:
The system implements selective tracking of usage metrics based on predefined criteria rather than recording every possible data point. The smart contracts specify which usage events are significant and require recording, allowing the system to process and store only relevant information, thus maintaining data completeness for important metrics while reducing overall processing time and workload.
Data Source
AI summary
Methods, systems, and apparatuses to monitor and track a usage of a digital asset by one or more third party users. The digital asset may be associated with a digital token of a distributed ledger. Further, metric data identifying and characterizing the monitored and tracked usage of the digital asset may be recorded within at least an element of the distributed ledger.