DIGITAL ASSET MODELING

• US 20170316391A1
• Filed: 06/13/2016
• Published: 11/02/2017
• Est. Priority Date: 04/29/2016
• Status: Active Grant

• Current Assignee: Digital Asset (Switzerland) GmbH
• Original Assignee: Digital Asset Holdings
• Inventors: Peikert, Vincent, Veprek, Ratko, Sjodin, Johan, Litsios, James, Bernauer, Alexander, Pilav, Darko, Krom, Robin, Meier, Simon, Kfir, Shaul
• Granted Patent: US 10,810,583 B2
• Time in Patent Office: Days
• CPC Class Codes: G06Q 20/0658 e-cash managed locally
• CPC Class Codes: G06Q 20/1235 with control of digital rights management [DRM]
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 2220/00 Business processing using cryptography
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 9/006 involving public key infrastructure [PKI] trust models network architecture or network communication protocol for supporting authentication of entities using certificates in a packet data network H04L63/0823
• CPC Class Codes: H04L 9/3239 involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD
• CPC Class Codes: H04L 9/50 using hash chains, e.g. blockchains or hash trees

Abstract

A system and method are provided for modeling and interpreting a modeled digital asset and its evolution with respect to the rights of a plurality of parties, the method comprising: executing an await function instance no more than once using one of at least one choice defined therein for disposition of the digital asset with respect to the rights of at least one of the plurality of parties, said await function instance incorporated upon the consent of the affected parties to fulfil a configured function instance associated with the at least one choice; executing an agree function instance that requires the consent of at least one of the plurality of parties to execute; and storing the results of the executed function instances in an append-only ledger.

Claims

1. A computer implemented method of manipulating data structures to model a digital asset and its evolution with respect to the rights of a plurality of parties, the method comprising:

providing an await function instance that executes no more than once using one of at least one choice defined therein for disposition of the digital asset with respect to the rights of at least one of the plurality of parties, said await function instance incorporated upon the consent of the affected parties to fulfil a configured function instance associated with the at least one choice;

providing an agree function instance that requires the consent of at least one of the plurality of parties to execute; and

providing access to an append-only ledger for storing results of the executed function instances.

2. The method of claim 1 wherein the at least one of the plurality of parties whose respective rights are at stake is the same at least one of the plurality of parties whose consent is required.

3. The method of claim 1, further comprising providing a delete function that requires the consent of the affected parties to invalidate an agree function or disable a non-executed await function, wherein the append-only ledger stores the results of the executed await, agree, and delete functions.

4. The method of claim 1 wherein the digital asset comprises at least one of cash and/or cash-valued payment, a fungible, equity, bond, commodity, future, right, or good.

5. The method of claim 1 wherein the at least one choice of the await function is made by a delegate of the at least one of the plurality of parties.

6. The method of claim 1 wherein the at least one choice of the await function is made by respective delegates of at least two of the plurality of parties.

7. The method of claim 1 wherein the append-only ledger comprises a blockchain.

8. The method of claim 1 wherein the append-only ledger may be queried for digital asset status based on pattern-matching.

9. The method of claim 1 wherein the append-only ledger may be queried for digital asset status of all models in the ledger using queries based on top-level definitions.

10. The method of claim 1, further comprising providing a delete function to render an active model inactive and no longer available for future transactions.

11. A method of interpreting a modeled digital asset and its evolution with respect to the rights of a plurality of parties, the method comprising:

executing an await function instance no more than once using one of at least one choice defined therein for disposition of the digital asset with respect to the rights of at least one of the plurality of parties, said await function instance incorporated upon the consent of the affected parties to fulfil a configured function instance associated with the at least one choice;

executing an agree function instance that requires the consent of at least one of the plurality of parties to execute; and

causing results of the executed function instances to be stored in an append-only ledger.

12. The method of claim 11 wherein the at least one of the plurality of parties whose respective rights are at stake is the same at least one of the plurality of parties whose consent is required.

13. The method of claim 11, further comprising executing a delete function that requires the consent of the affected parties to invalidate an agree function or disable a non-executed await function, and storing the results of the executed await, agree, and delete functions in the append-only ledger.

14. The method of claim 11 wherein the digital asset comprises at least one of cash and/or cash-valued payment, a fungible, equity, bond, commodity, future, right, or good.

15. The method of claim 11 wherein the at least one choice of the await function is made by a delegate of the at least one of the plurality of parties.

16. The method of claim 11 wherein the at least one choice of the await function is made by respective delegates of at least two of the plurality of parties.

17. The method of claim 11 wherein the append-only ledger comprises a blockchain.

18. The method of claim 11 wherein the append-only ledger may be queried for digital asset status based on pattern-matching.

19. The method of claim 11 wherein the append-only ledger may be queried for digital asset status of all models in the ledger using queries based on top-level definitions.

20. The method of claim 11, further comprising executing a delete function to render an active model inactive and no longer available for future transactions.

21. A digital system configured to interpret a modeled digital asset and its evolution with respect to the rights of a plurality of parties, the system comprising:

at least one processor configured to execute an await function instance no more than once using one of at least one choice defined therein for disposition of the digital asset with respect to the rights of at least one of the plurality of parties, said await function instance incorporated upon the consent of the affected parties to fulfil a configured function instance associated with the at least one choice, and configured to execute an agree function instance within the at least one choice that requires the consent of at least one of the plurality of parties; and

at least one storage device configured to cause interpreted results of the executed function instances to be stored in an append-only ledger.

22. The system of claim 21 wherein the at least one of the plurality of parties whose respective rights are at stake is the same at least one of the plurality of parties whose consent is required.

23. The system of claim 21, the processor further configured to execute a delete function that requires the consent of the affected parties to invalidate an agree function or disable a non-executed await function, and to store the execution results of the await, agree, and delete functions in the append-only ledger.

24. The system of claim 21 wherein the digital asset comprises at least one of cash and/or cash-valued payment, a fungible, equity, bond, commodity, future, right, or good.

25. The system of claim 21 wherein the at least one choice of the await function is made by a delegate of the at least one of the plurality of parties.

26. The system of claim 21 wherein the at least one choice of the await function is made by respective delegates of at least two of the plurality of parties.

27. The system of claim 21 wherein the append-only ledger comprises a blockchain.

28. The system of claim 21 wherein the append-only ledger may be queried for digital asset status based on pattern-matching.

29. The system of claim 21 wherein the append-only ledger may be queried for digital asset status of all models in the ledger using queries based on top-level definitions.

30. The system of claim 21, the processor further configured to execute a delete function to render an active model inactive and no longer available for future transactions.