NFT-Based Well Log Data Ownership Control
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Solution Overview
Problem
The challenge lies in maintaining control over well log data, which is often confidential and proprietary, as digital assets are easily copied and shared, making it difficult to track ownership and ensure secure access.
Innovation Solution
The use of non-fungible tokens (NFTs) stored on a digital ledger, such as a blockchain, to represent well log data, enabling controlled ownership and access through encryption and smart contracts, allowing for secure transfer and management of ownership interests.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If well log data is stored as digital assets, then accessibility and sharing are improved, but ownership control and security deteriorate
Solution Approach 1:
The patent introduces a non-fungible token (NFT) as an intermediary object that represents well log data ownership. The NFT acts as a mediator between the data and the owner, enabling controlled access while maintaining ownership integrity. The NFT contains metadata that references the actual well log data stored externally, creating a separation where the token maintains ownership control while the data remains accessible.
Solution Approach 2:
The patent segments the well log data into two parts: the NFT token that represents ownership and control rights, and the actual data that is stored externally. This segmentation allows the data to be accessible and shareable while the NFT maintains ownership control. The NFT can be transferred or restricted independently from the actual well log data.
2Loss of information
If well log data is made publicly accessible, then transparency is improved, but unauthorized exposure and copying increase
Solution Approach 1:
The patent applies local quality by making different parts of the system have different accessibility characteristics. The NFT and its ownership information are publicly transparent on the blockchain, while the actual well log data remains private and accessible only to authorized users. This creates a situation where ownership transparency is achieved without compromising data security.
Solution Approach 2:
The patent uses the concept of copying by creating a digital replica of the well log data in the form of an NFT token. This NFT copy contains all the necessary ownership information and can be freely copied and transferred on the blockchain, providing transparency about ownership while the actual data remains protected and cannot be copied without authorization.
3Device complexity
If traditional digital storage is used for well log data, then storage simplicity is improved, but ownership tracking and security deteriorate
Solution Approach 1:
The NFT serves as an intermediary that simplifies ownership tracking. Instead of complex database systems to track who owns what data, the blockchain-based NFT provides a built-in, transparent ownership mechanism. The NFT automatically records ownership transfers and access rights, eliminating the need for complex traditional storage systems while improving ownership tracking reliability.
Data Source
AI summary
Non-fungible tokens (NFTs) can be generated and stored on a digital ledger for use in controlling ownership of well log data in some examples described herein. In one such example, a system can encrypt well log data to generate encrypted well-log data. The system can then generate a new record that associates a non-fungible token with the encrypted well-log data, where the non-fungible token is usable to track ownership of the well log data. The system can then publish the new record to a digital ledger that is distributed among a plurality of computer nodes of a ledger network. The new record can be published to the digital ledger in response to at least a subset of the computer nodes reaching a consensus decision to add the new record to the digital ledger.