Smart Contract Mutual Aid Network via Blockchain
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Solution Overview
Problem
Current blockchain implementations lack efficient mechanisms for executing smart contracts among members of a collective asset without involving centralized nodes, which hinders secure and transparent decision-making processes, especially in scenarios like insurance disbursements.
Innovation Solution
Implementing a blockchain network that enables the execution of smart contracts on behalf of members sharing a collective asset, allowing voting members to make decisions anonymously and securely, with the ability to trace and verify transactions, thereby eliminating the need for centralized intermediaries.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a centralized node is used to manage smart contract execution, then transaction control and coordination are simplified, but security and transparency are compromised due to single-point failure and potential manipulation
Solution Approach 1:
The patent segments the centralized control function into multiple distributed validator nodes that collectively execute smart contracts. Each node maintains a copy of the blockchain and participates in consensus, eliminating single-point failure while preserving coordination through distributed agreement protocols
Solution Approach 2:
The patent introduces a consensus mechanism as an intermediary layer between individual nodes and the smart contract execution. This mediator enables coordinated action among distributed nodes without requiring a centralized controller, ensuring both security and operational simplicity
2Loss of information
If third-party intermediaries are involved in smart contract execution, then transaction coordination is easier, but transparency and trust are reduced due to potential interference
Solution Approach 1:
The patent implements smart contracts that automatically execute when predefined conditions are met, without requiring third-party intermediaries. The contract code itself performs the coordination and decision-making, ensuring complete transparency while maintaining ease of operation through automation
Solution Approach 2:
The patent replaces manual intermediary coordination with automated cryptographic verification and consensus protocols. The mechanical process of human-mediated transaction coordination is substituted with algorithmic execution that is both transparent and operationally simple
3Loss of information
If voting results are made publicly visible, then transparency is improved, but privacy of individual voters is compromised
Solution Approach 1:
The patent uses cryptographic hashing to create a copy of the voting data that preserves transparency without revealing individual votes. The hash of each vote is stored on-chain for verification, while the actual vote content remains private, allowing transparency of the process without exposing sensitive information
Solution Approach 2:
The patent applies different privacy levels to different aspects of the voting system. The aggregate results and process integrity are made public for transparency, while individual voter choices remain private. This local differentiation of information visibility resolves the contradiction between transparency and privacy
Data Source
AI summary
Disclosed herein are methods, systems, and apparatus, including computer programs encoded on computer storage media, for implementing a mutual aid network. One of the methods includes maintaining a particular blockchain specifically for handling requests for aid from a group of members; receiving transaction data encoding user responses to queries from the blockchain network for requesting the user responses regarding a particular request for aid; executing the smart contract using the particular blockchain to process the transaction data; in response to response results indicating that sufficient user responses have been received from the members of the subset of the group, and that a sufficient percentage of the subset of the group have agreed to the particular request for aid, computing an amount of contribution due to each member of the group; and instructing a gateway to trigger the amount of contribution to originate from each member of the group.