Method and system to use a block chain infrastructure and Smart Contracts to monetize data transactions involving changes to data included into a data supply chain.
First Claim
1. A method and system for a data producer to utilize a block chain infrastructure to monetize at least one change to a value of at least one data item;
- wherein said data producer links at least one smart contract to said block chain infrastructure;
wherein said data producer prepares said at least one change to a value of at least one data item for posting to the ledger of said block chain according to terms and specifications of said smart contract;
wherein said data producer connects at least one electronic device to said block chain infrastructure in real time;
wherein a data buyer accesses said at least one smart contract via an electronic device;
wherein said data buyer endorses terms of said at least one smart contract;
wherein said system links said prepared data item to at least one data buyer; and
wherein said endorsement of said smart contract by said data buyer generates encrypted keys to enable said data producer and said data buyer to utilize said block chain infrastructure to exchange said at least one change to a value of at least one data item.
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Abstract
A method and system to use a block chain infrastructure and smart contracts to monetize data transactions involving changes to data included into a data supply chain.
The invention describes a system and method to use smart contracts to monetize changes to data using a block chain infrastructure. The system and method matches a data producer'"'"'s data with a data buyer'"'"'s specifications, and enables micropayments for changed data responsive to observation of changes to data included into a data supply chain on a granular level.
The implementation of block chain infrastructure for data transfer enables a new class of business methods that enables the maintenance of privacy of personal information while giving access to actionable data and implementing a fair and transparent market for data producers and data buyers to use redundant distributed ledgers of transactions on peer to peer networks.
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Citations
21 Claims
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1. A method and system for a data producer to utilize a block chain infrastructure to monetize at least one change to a value of at least one data item;
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wherein said data producer links at least one smart contract to said block chain infrastructure; wherein said data producer prepares said at least one change to a value of at least one data item for posting to the ledger of said block chain according to terms and specifications of said smart contract; wherein said data producer connects at least one electronic device to said block chain infrastructure in real time; wherein a data buyer accesses said at least one smart contract via an electronic device; wherein said data buyer endorses terms of said at least one smart contract; wherein said system links said prepared data item to at least one data buyer; and wherein said endorsement of said smart contract by said data buyer generates encrypted keys to enable said data producer and said data buyer to utilize said block chain infrastructure to exchange said at least one change to a value of at least one data item. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A system comprising at least one electronic device linked to a block chain infrastructure wherein at least one data producer address is created, one data producer data set is invoked, and a transfer of at least one change to at least one data value for at least one data item is linked to said data producer address;
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wherein at least one data buyer address is created, one data buyer data set is invoked, and a transfer of at least one change to at least one data value for at least one data item links said at least one change from said data producer to at least one data item in said data set of said data buyer. - View Dependent Claims (15, 17, 18, 19, 20, 21)
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16. A computer-readable storage medium housing an executable program, wherein said executable program instructs one or more electronic devices:
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wherein said executable program enables access to a system having a block chain infrastructure; wherein said executable program creates at least one data producer address and at least one buyer address; wherein said executable program accepts at least one change to data upon said one or more electronic devices for transfer according to terms of at least one smart contract; and wherein said transfer of said changed data to said block chain infrastructure retains links between said data, said data producer address, and said buyer address.
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Specification