Distributed Ledger Incentive Protocol for Flexible Token Management
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Solution Overview
Problem
Conventional incentive programs lack flexibility in rewarding various activities and how value is realized, reducing their effectiveness in incentivizing commerce transactions and behaviors.
Innovation Solution
An incentive protocol system utilizing a distributed ledger/block chain to create, distribute, and manage tokens associated with products or services, allowing for flexible and remote modification of token values, enabling incentives for transactional and non-transactional behaviors, and providing a platform for various incentive programs like reward, loyalty, and gift card programs.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional incentive programs are used, then simplicity of implementation is maintained, but flexibility in rewarding various activities and realization of value is reduced
Solution Approach 1:
The distributed ledger system serves multiple functions: it acts as a secure database for token management, a platform for creating and distributing incentives, a mechanism for tracking transactions, and a system for enabling flexible reward programs. This multi-functional approach allows the system to provide adaptability across different incentive scenarios while consolidating complexity into a unified infrastructure.
Solution Approach 2:
The patent introduces a platform as an intermediary layer between participants and the distributed ledger. This platform handles the complexity of token creation, distribution, and management, while participants interact with simplified interfaces. The intermediary absorbs the system complexity, allowing users to benefit from flexibility without directly managing the underlying complexity.
2Ease of operation
If distributed ledger protocol is implemented, then flexibility and remote modification capability are improved, but system complexity increases
Solution Approach 1:
The distributed ledger system enables self-service capabilities where participants can independently create, manage, and modify their own incentive programs and token distributions without requiring centralized intervention. The system automatically handles token creation, distribution tracking, and redemption processes, reducing the need for complex manual management while maintaining flexibility.
3Adaptability or versatility
If tokens are made remotely addressable and modifiable, then incentive management flexibility is improved, but security risks may increase
Solution Approach 1:
The distributed ledger provides continuous feedback mechanisms that track all token operations, modifications, and transactions. The system monitors incentive distributions, token redemptions, and wallet transactions in real-time, maintaining an immutable record of all activities. This feedback loop ensures that remote modifications are transparent, auditable, and secure, as any changes are recorded and verified by the network.
Data Source
AI summary
In one aspect, a method to incentivize commerce comprises associating a digital wallet with a product or service. The wallet may include one or more private keys having an associated amount of tokens. A purchaser of the product or service receives the wallet as an incentive to purchase the product or service.