Digital Token Similarity Assessment via Preliminary Indexing
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Solution Overview
Problem
Existing technologies fail to effectively manage and prevent the creation of duplicate digital tokens, leading to issues such as copyright violation and digital fraud, as they lack mechanisms to restrict or manage digital tokens that represent similar data.
Innovation Solution
A token management platform (TMP) that assesses the similarity of digital tokens before generation, using a similarity score to prevent data alteration and invoke program codes associated with existing tokens, ensuring proper management and monitoring throughout the digital token's lifecycle.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If existing notarized ledger technology is used to create digital tokens, then digital tokens can be generated and stored, but the technology fails to prevent creation of duplicate tokens representing the same data
Solution Approach 1:
The patent implements a preliminary action by performing a similarity search in the indexed database before allowing digital token creation. The system assesses whether the data to be tokenized already exists in the database by comparing it against indexed data from existing tokens, preventing duplicate tokens from being created in the first place
Solution Approach 2:
The system incorporates feedback mechanisms by continuously monitoring and assessing similarity between new data and existing indexed data. The indexed database provides feedback about existing digital assets, allowing the system to determine whether creating a new token would result in duplication, thereby preventing copyright violation and digital fraud
2Productivity
If digital tokens are created without similarity assessment, then token creation is simple and fast, but duplicate tokens representing the same data can be created
Solution Approach 1:
The system performs the similarity assessment as a preliminary action before token creation. By pre-indexing data and performing quick similarity searches against the indexed database, the system maintains fast token creation speeds while ensuring uniqueness through automated comparison algorithms
Solution Approach 2:
The patent uses digital copying and comparison of data representations to assess similarity. The system creates digital copies of the data to be tokenized and compares them against copies stored in the indexed database, enabling rapid accuracy checks without significant impact on creation speed
3Ease of operation
If no management mechanism exists for similar digital tokens, then the system is simple to operate, but data replication across tokens cannot be prevented
Solution Approach 1:
The system implements self-service by automatically performing similarity assessments and preventing duplicate token creation without requiring manual intervention. The indexed database automatically compares new data against existing data, and the system autonomously determines whether to allow or block token creation based on similarity thresholds
Solution Approach 2:
The management mechanism uses feedback from the indexed database to automatically prevent data replication. The system receives feedback about existing digital assets, processes this information through similarity assessment algorithms, and automatically adjusts token creation decisions to maintain data integrity without complex manual management
Data Source
AI summary
Systems, apparatus, and methods of managing the lifecycle of a digital token are described. In an example, while the digital token is being generated, the digital token or the underlying digital asset can be compared to other digital tokens and/or digital assets to determine similarity thereto. Based on the similarity, a program code interface (e.g., smart contract, an application programming interface—API, RPC, etc.) can be determined and an API call can be made to execute a program code. The execution can indicate whether the digital token creation process can be completed. If so, the digital token is recorded. Thereafter, its use or the use of the underlying digital asset can be monitored, whereby this monitoring can apply similarity processing. If a use thereof is determined or if a use of a similar digital token or similar digital asset is determined, notifications can be generated and sent.