17933827. ENSURING TRUST THROUGHOUT LIFECYCLE OF A NON-FUNGIBLE TOKEN simplified abstract (Salesforce, Inc.)
Contents
- 1 ENSURING TRUST THROUGHOUT LIFECYCLE OF A NON-FUNGIBLE TOKEN
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 ENSURING TRUST THROUGHOUT LIFECYCLE OF A NON-FUNGIBLE TOKEN - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Original Abstract Submitted
ENSURING TRUST THROUGHOUT LIFECYCLE OF A NON-FUNGIBLE TOKEN
Organization Name
Inventor(s)
Charles Hart Isaacs of San Francisco CA (US)
Prithvi Krishnan Padmanabhan of San Francisco CA (US)
Mathew Sweezey of San Francisco CA (US)
ENSURING TRUST THROUGHOUT LIFECYCLE OF A NON-FUNGIBLE TOKEN - A simplified explanation of the abstract
This abstract first appeared for US patent application 17933827 titled 'ENSURING TRUST THROUGHOUT LIFECYCLE OF A NON-FUNGIBLE TOKEN
Simplified Explanation
The abstract describes a system for ensuring trust throughout the lifecycle of a non-fungible token by verifying the integrity of associated metadata through hash values and smart contracts.
- The system identifies a network address associated with a metadata attribute, accesses a file referenced by the address, generates a hash value from the file contents, and stores the hash value in the metadata structure.
- A modified metadata structure is created with the hash value, and a second hash value is generated using this modified structure.
- A smart contract is created with the second hash value and a network address referencing the modified metadata structure, which is stored in a public trust ledger for validation.
Potential Applications
This technology could be applied in various industries such as art authentication, supply chain management, and digital asset verification.
Problems Solved
This system addresses the issue of ensuring the authenticity and integrity of non-fungible tokens and their associated metadata throughout their lifecycle.
Benefits
The system provides a secure and transparent way to verify the trustworthiness of non-fungible tokens, enhancing their value and reducing the risk of fraud.
Potential Commercial Applications
One potential commercial application of this technology could be in the art market, where it could be used to verify the authenticity of digital art pieces and ensure their provenance.
Possible Prior Art
One possible prior art in this field could be blockchain technology, which is commonly used for ensuring the security and integrity of digital assets through distributed ledgers and smart contracts.
Unanswered Questions
How does this system handle potential security vulnerabilities in the metadata structure or smart contracts?
The system does not provide details on how it addresses potential security vulnerabilities that could arise in the metadata structure or smart contracts. Additional information on security measures implemented would be beneficial.
What are the potential limitations of using hash values and smart contracts for ensuring trust in non-fungible tokens?
The abstract does not discuss any potential limitations or drawbacks of using hash values and smart contracts for ensuring trust in non-fungible tokens. It would be useful to explore any challenges or constraints associated with this approach.
Original Abstract Submitted
Disclosed are some implementations of systems, apparatus, methods and computer program products for ensuring trust throughout the lifecycle of a non-fungible token. The system identifies, from a metadata data structure associated with the non-fungible token, a first network address associated with a first attribute of the metadata data structure. The system accesses a first file referenced by the first network address and generates a first hash value from contents of the first file. The system generates a modified metadata data structure that includes the first hash value by storing, within the metadata data structure, the first hash value in association with the first attribute. The system then generates a second hash value using the modified metadata data structure and stores, in a public trust ledger, a first smart contract including the second hash value and a second network address that references the modified metadata data structure. The system may then attempt to validate a smart contract based, at least in part, on the second hash value.
