Tokenized Real-Time Subject Assessment via Blockchain NFTs
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Solution Overview
Problem
Existing systems for assessing objects and subjects often rely on outdated or incomplete data, leading to inaccurate evaluations in contexts like insurance, purchasing, and leasing, as they fail to incorporate real-time and nuanced information effectively.
Innovation Solution
A network-based system utilizing a token management (TM) device that generates and maintains non-fungible tokens (NFTs) for objects and subjects, integrating data from various sources, including sensors and reference data, to provide continuous, secure, and up-to-date assessments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If conventional assessment systems are used, then device complexity is reduced, but measurement precision and reliability of assessments deteriorate due to outdated or incomplete data
Solution Approach 1:
The system segments assessment data into discrete blockchain blocks, with each block containing specific assessment criteria and results. This segmentation allows for precise tracking and verification of assessment data while maintaining system manageability through modular structure.
Solution Approach 2:
The patent introduces blockchain technology as an intermediary layer between data sources and assessment systems. This intermediary ensures data integrity, security, and traceability without requiring complex point-to-point verification mechanisms, thus improving reliability while managing complexity.
2Measurement precision
If real-time data collection from multiple sources is implemented, then measurement precision improves, but loss of time and device complexity increase
Solution Approach 1:
The system performs preliminary actions by pre-structuring data collection templates and assessment criteria before actual data gathering. This preparation enables automated processing of incoming data from multiple sources, reducing the time required for real-time assessment while maintaining high precision through consistent data structures.
Solution Approach 2:
The patent replaces manual data collection and verification processes with automated electronic systems that directly interface with sensors and data sources. This substitution eliminates time-consuming manual operations while maintaining data accuracy through systematic automated validation.
3Measurement precision
If comprehensive data from multiple sources is collected, then measurement precision improves, but loss of information and security risks worsen
Solution Approach 1:
The blockchain serves as a secure intermediary that receives, validates, and stores data from multiple sources without exposing the underlying data structures or sources. This intermediary mechanism protects information security while enabling comprehensive data collection for precise assessments.
Solution Approach 2:
The system creates cryptographic copies of assessment data and stores them on the blockchain. These copies verify data integrity and authenticity without requiring access to the original data sources, thus preventing information loss or unauthorized modification while maintaining assessment accuracy.
Data Source
AI summary
A computer system for generating and maintaining non-fungible tokens for real-time subject assessment is described herein. The computer system includes a processor in communication with a memory device, the processor programmed to: (i) receive a plurality of data associated with a history of a subject, (ii) execute a model with the data to generate a subject rating for the subject and a recommendation of at least one recommended action that would improve the subject rating, (iii) generate a non-fungible token (NFT) including one or more of: the plurality of data, the subject rating, or the recommendation; (iv) monitor actions of the subject to determine if the at least one recommended action was performed; and (v) re-execute the at least one model with the plurality of data and updated data based upon the actions of the subject and the at least one recommended action to generate an updated subject rating.