Tokenized Content Licensing With Smart Contract Enforcement
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Solution Overview
Problem
Current advertising methods rely heavily on blind or semi-blind targeting, resulting in irrelevant advertisements and exclude consumers from monetizing their data assets, limiting their ownership and control over their online consumer data.
Innovation Solution
A system and method for tokenizing and monetizing user data and assets using non-fungible tokens on a blockchain, enabling users to control and monetize their data through smart contracts, and receive compensation for its utilization.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If traditional blind advertising methods are used, then advertising coverage is broad, but ad relevance to users deteriorates
Solution Approach 1:
The patent segments user data into tokenized units that represent specific preferences, behaviors, and characteristics. Each token encapsulates a discrete piece of user information that can be independently licensed and used for targeted advertising, transforming broad blind advertising into precision-targeted campaigns while maintaining user control over their data segments.
Solution Approach 2:
The patent introduces a data marketplace and smart contract intermediary layer between users and advertisers. This intermediary enables users to license their tokenized data to advertisers through automated agreements, resolving the contradiction by facilitating relevant ad delivery without requiring advertisers to directly access or analyze raw user data.
2Measurement precision
If user data is collected for targeting, then ad targeting precision improves, but user control over data deteriorates
Solution Approach 1:
The patent implements self-service mechanisms where users automatically manage their own data through tokenized profiles and smart contracts. Users can set licensing terms, approve data usage, and receive compensation automatically without manual intervention, maintaining ease of operation while enabling precise targeting through comprehensive data collection.
Solution Approach 2:
The patent creates dynamic user control where data licensing terms can be modified, revoked, or adjusted at any time through updated smart contracts. User preferences and data sharing permissions are not static but can evolve with changing user needs, maintaining control while allowing flexible targeting precision.
3Productivity
If comprehensive user data is utilized, then advertising effectiveness improves, but user monetization opportunity deteriorates
Solution Approach 1:
The patent implements feedback loops where users receive real-time information about their data usage, licensing revenue, and the impact of their data on advertising effectiveness. This transparency creates a positive feedback mechanism that incentivizes users to share more data while directly benefiting from the increased advertising effectiveness through monetization.
Solution Approach 2:
The patent enables users to pre-configure their data licensing preferences, pricing models, and compensation terms before data is utilized for advertising. This preliminary action allows users to capture monetization value upfront while advertisers gain access to comprehensive data for effective campaigns, resolving the contradiction between data utilization and user revenue potential.
4Reliability
If smart contract licensing is implemented, then data security improves, but system complexity deteriorates
Solution Approach 1:
The patent employs universal smart contract templates that handle multiple data licensing scenarios through standardized protocols. These multi-functional contracts can manage various types of user data, licensing terms, and compensation models within a single framework, reducing system complexity while maintaining strong security through proven cryptographic mechanisms.
Data Source
AI summary
A system, method, and device for monetizing content. Content associated with tokens managed by a system are automatically searched for. The content is identified. Utilization of the content by one or more parties is verified according to a license of a smart contract. The license is enforced against the one or more parties in response to determining the license is not verified. License fees are collected for utilization of the content associated with the tokens. The user is compensating accorded to the terms of the smart contract.