Smart Contract Sub-Contract Creation for Future Negotiations
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Solution Overview
Problem
Smart contracts become finalized and unable to accommodate additional consultations or new terms, limiting their use and hindering automation benefits such as fraud prevention and cost reduction in time and energy.
Innovation Solution
A control method that includes a variable in the smart contract for future additional consultations, allowing the creation of sub-contracts within the distributed ledger system, enabling the expression of future negotiations and reducing the need for intermediaries.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a smart contract is finalized after conclusion, then contract integrity and automation are achieved, but the contract cannot accommodate additional consultations or new terms
Solution Approach 1:
The patent divides a contract into multiple smart contracts: a main smart contract that remains finalized and immutable, and sub-smart contracts that can be created for additional consultations. This segmentation allows the main contract to maintain integrity while sub-contracts provide adaptability for future negotiations.
Solution Approach 2:
The patent implements a nested structure where sub-smart contracts are created within the framework of the main smart contract. The sub-contracts reference and are associated with the main contract through stored identifiers, creating a hierarchical relationship that preserves the original contract while enabling extensions.
2Object-affected harmful factors
If a smart contract is finalized to prevent tampering, then fraud prevention is achieved, but future negotiations require new contracts increasing time and energy costs
Solution Approach 1:
The main smart contract is created in advance with a predefined structure that includes fields and conditions for future sub-contracts. This preliminary setup establishes the framework for additional consultations, eliminating the need to create entirely new contracts later and reducing time costs while maintaining security through the finalized main contract.
3Reliability
If a smart contract structure is fixed to ensure security, then automation reliability is maintained, but the system cannot express future negotiations
Solution Approach 1:
The patent creates a dynamic contract system where the main smart contract remains static and finalized for reliability, while sub-smart contracts can be dynamically created and added. This allows the overall system to adapt to future negotiations through new sub-contracts while the core automation logic in the main contract remains secure and unchanged.
Data Source
AI summary
A control method according to the present disclosure includes: receiving, from a terminal operated by a first user who is one of parties that have concluded a first contract, first transaction data that includes a first smart contract corresponding to the first contract and a first electronic signature associated with the first user; executing a consensus algorithm with a plurality of other servers; and recording a block including the first transaction data in a distributed ledger. The first smart contract includes (i) content of the first contract which is a main contract, (ii) a variable that is provisional and used for identifying a second smart contract corresponding to a second contract which is to be newly concluded as a sub contract of the first contract, and (iii) a condition for creation of the second smart contract.