Electronic Ticket Validation Across Separate Ledgers
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Solution Overview
Problem
The validation of electronic transactions for electronic tickets is cumbersome, inefficient, and error-prone due to the lack of integration or compatibility between content rights management systems and monetary transaction systems, particularly when multiple electronic ledgers are involved.
Innovation Solution
A witness entity acts as an intermediary mechanism to verify transactions using an application programming interface, confirming delivery and other events before payment is made, and smart contracts manage token transfers and ownership rights across separate electronic ledgers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If separate electronic ledgers are used for content rights management and monetary transactions, then system independence and security are improved, but validation complexity and error rates increase
Solution Approach 1:
A witness entity is introduced as an intermediary between the content rights management system and monetary transaction system. This witness entity receives information from both systems and verifies their consistency, enabling validation across separate ledgers without requiring direct integration or increasing complexity of the core systems.
2Productivity
If integration between content rights management system and monetary transaction system is implemented, then validation efficiency is improved, but system complexity and coupling increase
Solution Approach 1:
The witness entity serves as a mediator that enables efficient validation by receiving information from both systems and performing verification in a centralized location, achieving integration benefits without requiring direct system coupling or complex integration architecture.
Solution Approach 2:
The validation function is segmented and separated from the core transaction and rights management systems. By placing validation logic in an independent witness entity, the system achieves efficient validation while maintaining independence and low coupling of the core systems.
3Device complexity
If manual validation processes are used for electronic ticket transactions, then system simplicity is maintained, but error rates and processing time increase
Solution Approach 1:
The witness entity performs automated self-validation by receiving information from both systems and independently verifying consistency. This eliminates manual validation processes while maintaining system simplicity, as the witness entity autonomously performs verification without requiring complex automated validation infrastructure.
Data Source
AI summary
Computer-implemented systems, methods, and products for enabling one or more nodes of a first electronic ledger platform to carry out operations with respect to one or more records of the first electronic ledger platform. The operations may include receiving an indication from a smart contract to manage a transaction associated with purchase of a token and processing financial information associated with the purchase of the token to initiate the transaction. The financial information may include a value associated with the token, a source of funds for the purchase, and a destination account for transfer of currency from the source of funds. One or more events or information associated with the transaction are verified to confirm transfer of the token from a selling entity to a purchasing entity.