Distributed Ledger Floorplanning via Smart Contracts
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Solution Overview
Problem
Current floorplanning processes are manual and complex, involving multiple bilateral agreements between OEMs, dealers, and lenders, with no real-time data on inventory status, leading to misaligned interests and the need for physical audits to reconcile inventory and credit lines.
Innovation Solution
A distributed ledger-based system that uses smart contracts to track and update resource status data, such as vehicle information, allowing for real-time visibility and automation of transactions between suppliers, dealers, and lenders, reducing the need for physical audits and miscommunication.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual floorplanning processes with multiple bilateral agreements are used, then flexibility in negotiations is maintained, but process complexity and time consumption increase significantly
Solution Approach 1:
The patent merges multiple bilateral agreements and manual reconciliation processes into a single multi-party smart contract system on a distributed ledger. This combines the functions of inventory tracking, credit line management, and payment processing into one integrated system, reducing the number of separate agreements and manual steps required.
Solution Approach 2:
The distributed ledger system acts as an impartial intermediary between OEMs, dealers, and lenders. It provides a neutral platform where all parties can verify inventory status and credit positions in real-time without requiring trust in each other, eliminating the need for complex bilateral verification processes.
2Loss of information
If real-time inventory tracking is implemented, then visibility and control are improved, but system complexity and implementation costs increase
Solution Approach 1:
The system enables self-service inventory tracking where the distributed ledger automatically records and verifies inventory status, ownership, and financing information. Each party can independently query the ledger for real-time data without requiring manual reporting or verification from other parties, reducing the complexity of data collection and verification.
Solution Approach 2:
The distributed ledger serves multiple functions simultaneously: it tracks inventory status, records ownership transfers, monitors credit line usage, and triggers automatic payments. This multi-functional system replaces multiple separate tracking systems, reducing overall system complexity while providing comprehensive real-time visibility.
3Measurement precision
If physical audits are conducted to reconcile inventory and credit lines, then accuracy is ensured, but time consumption and operational costs increase
Solution Approach 1:
The system implements continuous feedback through automatic smart contract execution that monitors inventory status and credit line usage in real-time. When inventory is sold or transferred, the smart contract automatically updates the dealer's credit position and triggers payments, providing ongoing verification without requiring periodic physical audits.
Solution Approach 2:
The patent replaces the mechanical process of physical inventory audits with an automated digital verification system. The distributed ledger provides cryptographic proof of inventory status and ownership, allowing parties to verify accuracy remotely and continuously without physically counting or inspecting inventory, thereby eliminating time-consuming audits while maintaining precision.
4Adaptability or versatility
If multiple bilateral agreements are used between parties, then customization and flexibility are maintained, but misaligned interests and conflicts increase
Solution Approach 1:
The patent combines multiple bilateral agreements into a single multi-party smart contract that is visible and verifiable by all participants. This merging ensures that all parties have access to the same information and rules, aligning their interests by eliminating information asymmetry and conflicting interpretations of agreement terms.
Solution Approach 2:
The distributed ledger creates an equipotential information environment where all parties (OEMs, dealers, lenders) have equal access to real-time inventory and credit data. This eliminates the information advantages that one party might have over another in bilateral agreements, ensuring that all parties operate from the same factual basis and reducing conflicts of interest.
Data Source
AI summary
System and methods for distributed ledger-based floorplanning are disclosed. According to one embodiment, in an information processing device comprising at least one computer processor and a distributed ledger system, a method for distributed ledger-based floorplanning may include: (1) receiving, at the distributed ledger system, an identifier for a trackable resource and resource status data for the trackable resource; (2) writing the identifier and the resource status data to a distributed ledger; (3) receiving, at the distributed ledger, an update to the resource status data for the trackable resource; (4) writing the update to the distributed ledger; and (5) executing a smart contract based on the update to the resource status data.