Rights-Bound Token Architecture for Evolving Blockchain Rights
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Solution Overview
Problem
Existing blockchain technologies face challenges in creating and managing non-fungible tokens (NFTs) due to the 'chicken and egg' problem of needing to instantiate rights before the NFT creation, while maintaining immutability and allowing for post-facto processing and evolution of rights, and lack flexibility across heterogeneous blockchain services and storage mechanisms.
Innovation Solution
The implementation of a rights bound token creation and management engine (C&ME) that generates and manages rights bound tokens (RBTs) in a distributed, immutable, decentralized, verifiable, secure, and trustless form, allowing for flexible selection of blockchain services, protocols, and storage mechanisms, and enabling the evolution of rights while ensuring point-in-time integrity and ongoing monitoring.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Stability of the object's composition
If rights are instantiated before NFT creation to maintain immutability, then the order of operations is fixed, but flexibility for post-facto processing and rights evolution is lost
Solution Approach 1:
The patent divides the rights management system into separate modular components: a rights registry for storing rights definitions, a binding mechanism for linking rights to NFTs, and a rights evolution module for post-facto modifications. This segmentation allows the system to maintain immutable records while enabling flexible rights evolution through separate processing layers.
Solution Approach 2:
The system performs preliminary actions by pre-defining rights templates and binding mechanisms before NFT creation. Rights can be prepared and registered in advance, then applied to NFTs when needed, allowing both pre-facto rights setup and post-facto evolution without compromising immutability of the core blockchain records.
2Device complexity
If a single blockchain service is used to ensure consistency, then the system is simplified, but adaptability across heterogeneous blockchain services and storage mechanisms is reduced
Solution Approach 1:
The patent implements a universal rights bound token framework that can operate across multiple blockchain services and storage mechanisms. The system uses standardized interfaces and protocols that allow the same rights management functionality to be deployed on different blockchains (e.g., Ethereum, Bitcoin) and storage systems, eliminating dependency on a single service provider.
Solution Approach 2:
The system introduces intermediary layers including a rights registry and binding mechanism that act as mediators between the application layer and various blockchain services. These intermediaries translate and adapt operations to work with heterogeneous blockchain protocols, allowing flexibility without increasing overall system complexity.
3Extent of automation
If blockchain services are selected based on specific criteria to optimize performance, then service selection becomes automated, but the complexity of selecting and managing multiple heterogeneous services increases
Solution Approach 1:
The system implements feedback mechanisms that automatically evaluate blockchain service performance and select optimal services based on predefined criteria. The system monitors factors such as transaction speed, cost, and reliability, then automatically switches between services to optimize performance, reducing the need for manual service selection and management.
Data Source
AI summary
A rights bound token (RBT) creation and management engine (C&ME) generates and manages RBTs, in a distributed, immutable, permanent, decentralized, verifiable, secure, permissionless, trustless form and/or evolvable. RBTs constitute a new asset class, and are digitally native, decentralized assets that evidence rights to other assets, employing blockchain technology using distributed ledgers and that are advantageously blockchain agnostic and enhance security. RBTs employ an on chain token and a rights package inextricably bound by at least one external binding. Rights packages are comprised of a rights manifest and a rights storage mechanism, selected from various rights manifests and rights storage mechanisms. Treating the token, rights package (rights manifests, rights storage) and bindings as distinct objects advantageously allows customization for various technical and non-technical criteria, and facilitates operation is across a wide range of different blockchain services, accommodating heterogeneous protocols, heterogeneous file types and even heterogeneous storage mechanisms.