Web 3.0 Orchestration System for Cross-Merchant Token Economy
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Solution Overview
Problem
The platform economy, as seen in web 2.0, limits user interactions with merchants to their individual platforms, restricting cross-merchant relationships and sales opportunities, and lacks efficient engagement and conversion strategies.
Innovation Solution
The implementation of a web 3.0 orchestration system that utilizes smart contracts and token economies to enable users to purchase from any merchant without accessing their platforms, based on geographically, temporally, contextually, and emotionally relevant offerings, while maintaining user data privacy and enhancing sales conversion rates.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If users access individual merchant platforms to view and purchase goods, then users can interact with merchants, but user interactions are restricted to individual platforms and cross-merchant relationships are limited
Solution Approach 1:
The patent introduces a smart contract system as an intermediary layer between users and merchants. This smart contract acts as a mediator that enables users to interact with multiple merchants through a single interface without needing to access individual merchant platforms, thereby resolving the contradiction between cross-merchant versatility and platform access complexity
Solution Approach 2:
The smart contract system provides universal functionality that works across multiple merchant platforms simultaneously. Instead of requiring separate interactions with each merchant platform, the system offers a unified multi-functional interface that handles diverse merchant interactions through standardized smart contract protocols
2Productivity
If merchant platforms collect user data for personalized offerings, then sales conversion rates can be improved, but user data privacy is compromised
Solution Approach 1:
The patent extracts the data processing function from the merchant platforms and relocates it to the user's device through local smart contracts. User data remains on the user's device rather than being collected by merchants, yet personalized offerings are still generated by executing smart contracts locally that utilize the user's own data without exposing it to external platforms
Solution Approach 2:
The system enables users to serve themselves by executing smart contracts locally on their own devices. Users maintain control over their data while the smart contract system automatically generates personalized offerings and facilitates purchases without requiring data to leave the user's device, thus achieving both privacy protection and personalized service
Data Source
AI summary
Disclosed is a web 3.0 orchestration system that creates a token economy through which customers are able to establish relationships and purchase physical and digital goods and services from any merchant at any place without having to access the physical or digital storefront of the merchant. The orchestration system may receive a triggering event from a user device, may compile user data from user profiles that are associated with the user device, and may select a distributed set of smart contracts defined by different merchants based on the triggering event. The orchestration system may execute the distributed set of smart contracts using the user data as inputs, may select offerings from a set of merchants based on the output generated from executing the smart contracts, and may present the offerings to the user device as part of facilitating a transaction between the user device and any of the merchants.