20240039924. Blockchain-Based Commercial Inventory Systems and Methods simplified abstract (Americorp Investments LLC)
Contents
Blockchain-Based Commercial Inventory Systems and Methods
Organization Name
Inventor(s)
Jordan Simons of Denver CO (US)
Blockchain-Based Commercial Inventory Systems and Methods - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240039924 titled 'Blockchain-Based Commercial Inventory Systems and Methods
Simplified Explanation
The patent application describes a blockchain system where users can request block entries from their devices. These block entries contain various data portions, each associated with a specific access level. Auditors can request access to specific data portions by providing an access code associated with the desired access level. A customized view of the block entry, including the requested data portions, is then generated. The system also includes an artificial intelligence engine that can review the entries in the blockchain, identify earnings information from sales of commercial inventory, calculate taxes based on the earnings, and pay the taxes to government authorities using fiat or cryptocurrency.
- The patent application describes a blockchain system for accessing and sharing data.
- Users can request specific block entries from their devices.
- Block entries contain data portions associated with different access levels.
- Auditors can request access to specific data portions by providing an access code.
- A customized view of the block entry is generated based on the requested data portions.
- An artificial intelligence engine is used to review entries and identify earnings information.
- Taxes are calculated based on the earnings information and paid to government authorities.
- Payments can be made using fiat or cryptocurrency.
Potential applications of this technology:
- Secure and transparent data sharing in various industries such as finance, healthcare, and supply chain management.
- Efficient auditing processes by allowing auditors to access specific data portions.
- Streamlining tax calculations and payments based on earnings information.
Problems solved by this technology:
- Ensuring data privacy and security by using blockchain technology.
- Simplifying the auditing process by providing auditors with customized views of data.
- Automating tax calculations and payments based on earnings information.
Benefits of this technology:
- Increased transparency and trust in data sharing and auditing processes.
- Improved efficiency and accuracy in tax calculations and payments.
- Enhanced security and privacy of sensitive data.
Original Abstract Submitted
a blockchain of block entries that can be requested by users from user devices is maintained in a distributed network of nodes. block entries include a plurality of data portions that are each associated with an access level. a request from an auditor to view one or more data portions of a block entry can includes an access code associated with at least one access level can be evaluated to identify one or more data portions associated with the access level. a customized view of the block entry which includes the one or more data portions associated with the access level can be generated. an artificial intelligence engine can review entries within the distributed ledger, identify earnings information associated with the sales of the commercial inventory, determine tax based on earning information, and pay the tax via fiat or cryptocurrency to government authorities based on earnings information.
