Secure Token Updates for Contingent Asset Transitions
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Solution Overview
Problem
Current computer systems lack an efficient method for securely updating and managing contingent assets, particularly in transitioning them from a contingent to a noncontingent state, which affects risk analysis and valuation during asset lifecycles.
Innovation Solution
A computing system that utilizes a blockchain-based approach to manage contingent assets by generating and updating secure tokens, facilitating risk analysis, and ensuring secure transitions from contingent to noncontingent status through a network of computing entities and environment sensors, enabling secure token updates and risk assessments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional asset management systems are used to manage contingent assets, then the system structure is simple, but the security and reliability of asset transitions are insufficient
Solution Approach 1:
The patent introduces a computing entity that acts as an intermediary to manage contingent assets. This entity receives indication data from environment sensors, determines asset status transitions, and updates blockchain records. The intermediary resolves the contradiction by providing secure, automated transition management without requiring complex multi-party coordination protocols, thus improving reliability while maintaining manageable system complexity.
Solution Approach 2:
The patent replaces traditional manual or mechanical asset management processes with an automated computing system that uses blockchain technology. The computing entity automatically detects asset status changes through sensor data and executes transitions on the blockchain without human intervention. This substitution improves the security and reliability of asset transitions while the automation actually reduces operational complexity compared to manual verification processes.
2Measurement precision
If real-time risk analysis is implemented for contingent assets, then the valuation accuracy is improved, but the computational resources and time required increase
Solution Approach 1:
The patent implements preliminary action by continuously monitoring environment sensors and maintaining up-to-date asset records on the blockchain before transitions occur. The computing entity proactively detects status changes and prepares valuation updates in advance, ensuring accurate real-time pricing without requiring complex post-transition analysis. This preliminary monitoring approach improves valuation accuracy while minimizing the time needed for actual risk assessment at transition moments.
Solution Approach 2:
The system enables self-service through automated risk analysis where the computing entity independently processes sensor data, determines asset status, and updates valuations without external intervention. The blockchain network itself maintains the record of asset states and enables automatic verification. This self-service mechanism provides continuous accurate valuation while reducing the time and resources needed for manual risk analysis.
3Reliability
If blockchain technology is used to manage contingent assets, then the security and transparency are improved, but the device complexity and implementation difficulty increase
Solution Approach 1:
The patent segments the contingent asset management system into distinct functional components: environment sensors for data collection, a computing entity for processing and decision-making, and a blockchain network for record-keeping. Each component has a specific, simplified function that can be implemented and maintained independently. This segmentation improves security through distributed architecture while reducing overall implementation complexity by allowing gradual deployment and independent optimization of each module.
Data Source
AI summary
A method executed by a computing entity includes obtaining, in accordance with a securely passing process, control over a secure first token representing a first pending transaction associated with a transaction item. The method further includes obtaining a selection of a first subset of instant assets of a set of candidate instant assets that may be utilized to subsequently provide conversion of credits of a set of selected public benefit assets to complete the first pending transaction. The method further includes generating an updated secure first token in accordance with the securely passing process to represent the selection of the first subset of instant assets of the set of candidate instant assets to subsequently provide the conversion of the set of selected public benefit assets to complete the first pending transaction.