Distributed Ledger Platform for Secure Project Access Control
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Solution Overview
Problem
Large capital projects, including construction and IP licensing, face challenges in managing and securing access to vast volumes of documents and information, leading to errors, costs, and potential intellectual property misuse due to fragmented approaches and lack of secure data management.
Innovation Solution
A distributed ledger platform that provides a secure, permissioned system for managing projects by controlling access to documents and facilitating payments through smart contracts and oracles, ensuring only authorized parties access necessary information and enabling automated payment processes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a fragmented approach to document and information management is used, then ease of operation is maintained with existing systems, but reliability deteriorates due to errors and lack of visibility
Solution Approach 1:
The system segments access control by creating role-based permission levels (e.g., full access, restricted access, read-only) that divide the document repository into accessible and inaccessible sections for different user groups. This maintains operational simplicity while improving reliability through structured access management.
Solution Approach 2:
The distributed ledger acts as an intermediary between project participants, providing a shared source of truth that mediates document access requests and payment processing. This intermediary layer ensures consistent, reliable data access across all participants without requiring direct complex integrations between each participant's systems.
2Object-affected harmful factors
If permissioned access control is implemented, then protection of intellectual property is improved, but ease of operation deteriorates due to access control mechanisms
Solution Approach 1:
The system implements self-service access control where users automatically receive appropriate document access rights based on their pre-defined roles and permissions. The permissioned access control mechanism operates autonomously without requiring manual intervention, thereby maintaining ease of operation while effectively protecting intellectual property.
3Productivity
If manual payment processing is used, then ease of operation is maintained, but productivity deteriorates due to time-consuming processes
Solution Approach 1:
The system implements automated feedback loops where completion of project milestones is detected and automatically triggers corresponding payment processing. This feedback mechanism eliminates manual intervention, significantly improving payment processing speed while maintaining operational simplicity through automated workflows.
Data Source
AI summary
Methods, systems, apparatus, and computer program products related to a distributed ledger platform/system for managing large capital projects are provided. In an example embodiment, the distributed ledger platform/system includes a plurality of nodes, wherein each node is in data communication with the other nodes; a ledger stored in each node; and a transaction verification to verify the at least one transaction information/data. The ledger contains transaction information related to at least one of the following: vendor payments, intellectual property licensing, construction certifications, equipment inspections, vendor qualification, vendor selection criteria, document access, and regulatory compliance.