Limited-Transferability Digital Certificates via Smart Contracts
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Solution Overview
Problem
Existing systems for event-related items lack effective mechanisms to prevent unauthorized transfer, leading to false assertions of attendance or achievement, which consume resources in detection and mitigation.
Innovation Solution
An electronic system that generates limited-transferability digital certificates using a distributed ledger and smart contracts, preventing unauthorized transfer by recording ownership and allowing transfer only to authorized entities or users.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional event attendance items are provided, then users can attend events and receive recognition, but unauthorized transfer and false assertions occur consuming resources for detection and mitigation
Solution Approach 1:
The smart contract is deployed beforehand with built-in transfer restrictions and ownership verification logic. The system proactively prevents unauthorized transfers and false assertions before they can occur, rather than reacting to detected fraud. This preliminary configuration of security rules eliminates the need for continuous resource-intensive detection and mitigation operations.
Solution Approach 2:
The distributed ledger system automatically records ownership and enforces transfer restrictions through the smart contract without requiring external verification or intervention. The system self-verifies authenticity and self-enforces security rules, eliminating the need for resource-intensive manual detection and mitigation processes.
2Adaptability or versatility
If digital certificates are made transferable, then users can share certificates, but unauthorized transfer to other users occurs
Solution Approach 1:
The smart contract implements different transfer permissions for different certificates based on their specific properties. Each certificate can have customized transfer rules (e.g., transferable to specific entities only, non-transferable, or freely transferable), allowing the system to maintain both versatility and security simultaneously through localized control mechanisms.
Solution Approach 2:
The system continuously monitors transfer attempts and provides feedback through the smart contract's automatic verification mechanism. When a transfer attempt is made, the system checks the smart contract conditions and automatically approves or rejects the transfer, ensuring that only authorized transfers are permitted while maintaining user-friendly certificate sharing capabilities.
3Reliability
If a distributed ledger with smart contracts is implemented, then unauthorized transfer is prevented, but system complexity increases
Solution Approach 1:
Instead of creating a completely new complex system, the patent leverages existing distributed ledger technology and smart contract frameworks that are already deployed in various industries. By copying and adapting proven security mechanisms rather than inventing new ones, the system achieves reliable transfer prevention while minimizing the introduction of unnecessary complexity.
Data Source
AI summary
Systems, computer program products, and methods are described herein for automatic provisioning of limited-transferability electronic certificates associated with events. The present invention may be configured to receive event data including event information associated with an event, receive user data including user information associated with a user, where the user is associated with the event, and generate, based on the event data and the user data, an electronic digital certificate. The present invention may be configured to store the electronic digital certificate on a distributed ledger and generate, on the distributed ledger, a smart contract associated with the electronic digital certificate that prevents transfer of the electronic digital certificate. The present invention may be configured to record, on the distributed ledger, that the user owns the electronic digital certificate and provide, to a user device associated with the user, a notification that the user owns the electronic digital certificate.