20240046325. SYSTEMS AND METHODS FOR USING SMART CONTRACTS TO CONTROL THE TRADE, SUPPLY, MANUFACTURE, AND DISTRIBUTION OF COMMODITIES simplified abstract (Clarovia Holdings, LLC)
Contents
- 1 SYSTEMS AND METHODS FOR USING SMART CONTRACTS TO CONTROL THE TRADE, SUPPLY, MANUFACTURE, AND DISTRIBUTION OF COMMODITIES
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEMS AND METHODS FOR USING SMART CONTRACTS TO CONTROL THE TRADE, SUPPLY, MANUFACTURE, AND DISTRIBUTION OF COMMODITIES - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Original Abstract Submitted
SYSTEMS AND METHODS FOR USING SMART CONTRACTS TO CONTROL THE TRADE, SUPPLY, MANUFACTURE, AND DISTRIBUTION OF COMMODITIES
Organization Name
Inventor(s)
Joseph D. Preston of Bainbridge Island WA (US)
Dan Alan Preston of Bainbridge Island WA (US)
Trinitie Marie Vance of Indianola WA (US)
Brett C. Simpson of Richland WA (US)
Peter Albert Madakson of Tacoma WA (US)
William R. Rieger of Atlanta GA (US)
SYSTEMS AND METHODS FOR USING SMART CONTRACTS TO CONTROL THE TRADE, SUPPLY, MANUFACTURE, AND DISTRIBUTION OF COMMODITIES - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240046325 titled 'SYSTEMS AND METHODS FOR USING SMART CONTRACTS TO CONTROL THE TRADE, SUPPLY, MANUFACTURE, AND DISTRIBUTION OF COMMODITIES
Simplified Explanation
The present principles are directed to systems and methods for providing a trading system cooperatively integrated with manufacturing control and distribution systems, specifically for securities, commodities, and their derivatives. The innovation utilizes asset-backed, virtualized data tokens and blockchain technology to facilitate price discovery and automated transactions at all stages of the asset development, manufacturing, and distribution of commodities.
- The patent application focuses on integrating a trading system with manufacturing control and distribution systems.
- The innovation utilizes asset-backed, virtualized data tokens and blockchain technology.
- The system facilitates price discovery and automated transactions for securities, commodities, and their derivatives.
- The technology covers all stages of the asset development, manufacturing, and distribution process.
Potential Applications
- Trading and settlement of securities, commodities, and derivatives.
- Streamlining the asset development, manufacturing, and distribution process.
- Facilitating price discovery and automated transactions in the market.
Problems Solved
- Lack of integration between trading systems and manufacturing control and distribution systems.
- Inefficiencies in the asset development, manufacturing, and distribution process.
- Manual price discovery and transaction processes.
Benefits
- Seamless integration of trading, manufacturing, and distribution systems.
- Improved efficiency and automation in the asset development process.
- Enhanced price discovery and transaction capabilities in the market.
Original Abstract Submitted
the present principles are directed to systems and methods for providing a trading system cooperatively integrated with manufacturing control and distribution systems, and, more specifically, to provide a trading, clearance, settlement, and depository for securities, commodities, and their derivatives (collectively “securities”) that utilize asset-backed, virtualized data tokens and blockchain technology to facilitate price discovery and automated transactions at all stages of the asset development, manufacturing, and distribution of commodities.
