Resource Exchange Platform Using Blockchain for Direct Settlement

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Solution Overview

Problem

Conventional systems lack the capability to track resource distribution throughout the supply chain and require manual sorting, with physical resources often being transferred through multiple intermediaries instead of directly between organizations, leading to inefficiencies and high costs.

Innovation Solution

A resource exchange platform that facilitates direct electronic exchange and tracking of physical resources between organizations using resource exchange interfaces, blockchain technology for secure and transparent settlement, and decentralized ledgers to monitor transactions without the need for intermediaries.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If physical resources are transferred through multiple intermediaries, then resource distribution can be facilitated, but transfer efficiency decreases and costs increase

Engineering Contradiction:

Improveresource transfer efficiencyVSAvoidnumber of intermediaries

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The patent extracts and eliminates the intermediary entities from the resource transfer process. By implementing a peer-to-peer exchange platform, resources are transferred directly between organizations without requiring intermediate parties, thus improving transfer efficiency and reducing complexity

Inventive Principle:

Principle #2Taking out (Extraction)

Solution Approach 2:

The patent introduces a digital platform as a virtual intermediary that enables direct peer-to-peer resource exchange. This digital mediator facilitates matching, tracking, and settlement between organizations without requiring physical intermediaries, thereby improving efficiency while maintaining system coordination

Inventive Principle:

Principle #24Intermediary (Mediator)

2Productivity

If manual sorting of resources is performed, then resource allocation can be managed, but labor costs and time consumption increase

Engineering Contradiction:

Improveresource allocation speedVSAvoidmanual processing time

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The patent implements automated resource matching and allocation systems that operate without manual intervention. The platform automatically identifies compatible resource exchanges between organizations, processes transactions, and updates ledgers, eliminating the need for manual sorting and significantly reducing processing time

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The patent replaces manual mechanical sorting processes with automated digital systems. Computer algorithms automatically match resource requests with available supplies, process exchange agreements, and update transaction records, substituting human labor with automated computational processes

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

3Loss of information

If resource distribution tracking is not implemented, then system simplicity is maintained, but visibility and control of resource flow are lost

Engineering Contradiction:

Improveresource distribution visibilityVSAvoidtracking system complexity

Core Design Contradiction:

Loss of informationVSDevice complexity

Solution Approach 1:

The patent implements comprehensive tracking systems that provide real-time feedback on resource distribution. The platform monitors and records each resource exchange transaction, maintaining visible records of resource flow between organizations, which improves information visibility while using streamlined digital processes to manage complexity

Inventive Principle:

Principle #23Feedback

4Productivity

If direct resource exchange between organizations is enabled, then transfer efficiency improves, but security and settlement reliability may be compromised

Engineering Contradiction:

Improveresource exchange efficiencyVSAvoidsettlement security

Core Design Contradiction:

ProductivityVSReliability

Solution Approach 1:

The patent introduces a digital platform as a trusted intermediary that facilitates direct peer-to-peer resource exchange while ensuring security and reliability. The platform manages matching, agreement verification, and settlement processes, enabling efficient direct exchange between organizations while maintaining system-wide security and trust through centralized coordination and oversight

Inventive Principle:

Principle #24Intermediary (Mediator)

Data Source

PatentUS10825021B2System for network resource exchanging

Publication Date: 2020.11.03 BANK OF AMERICA CORP

AI summary

Resource exchange platform for integrating and facilitating direct resource exchanges and resource tracking between multiple organizations. The platform may establish an exchange program directly between organizations to identify, trade, and settle the transfer of physical resources physically and/or electronically. The resource exchange platform provides a more efficient exchange of physical resources, more secure trackable resource exchanges, and more agency insight into resource exchanges in order to identify potential interactions involving misappropriated resources.