ORANGE (20240380622). METHOD FOR COMPUTER-IMPLEMENTED SERVICE PROVISION IN A BLOCKCHAIN, CORRESPONDING BLOCKCHAIN NETWORK NODE AND COMPUTER PROGRAM simplified abstract
METHOD FOR COMPUTER-IMPLEMENTED SERVICE PROVISION IN A BLOCKCHAIN, CORRESPONDING BLOCKCHAIN NETWORK NODE AND COMPUTER PROGRAM
Organization Name
Inventor(s)
Tiphaine Henry of Chatillon Cedex (FR)
Julien Hatin of Chatillon Cedex (FR)
Nassim Laga of Chatillon Cedex (FR)
Blaise Carnevillier of Chatillon Cedex (FR)
METHOD FOR COMPUTER-IMPLEMENTED SERVICE PROVISION IN A BLOCKCHAIN, CORRESPONDING BLOCKCHAIN NETWORK NODE AND COMPUTER PROGRAM - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240380622 titled 'METHOD FOR COMPUTER-IMPLEMENTED SERVICE PROVISION IN A BLOCKCHAIN, CORRESPONDING BLOCKCHAIN NETWORK NODE AND COMPUTER PROGRAM
The method described in the abstract involves utilizing blockchain technology for goods or services, enhanced with smart contracts. An oracle is introduced to process encrypted offers without accessing the decrypted content, improving confidentiality. Oracles are trusted third-party services that interface the blockchain network with external information.
- Blockchain technology for goods/services
- Enhanced with smart contracts
- Introduction of an oracle for processing encrypted offers
- Improves confidentiality
- Trusted third-party service interfacing blockchain with external information
Potential Applications: - Secure exchange of services - Confidential transactions - Reduction of calculation costs for smart contracts
Problems Solved: - Lack of confidentiality in solutions based on smart contracts - Access to encrypted offers without decryption
Benefits: - Enhanced security and confidentiality - Efficient processing of transactions - Trusted third-party verification
Commercial Applications: - Secure online transactions - Supply chain management - Financial services industry applications
Questions about the technology: 1. How does the introduction of an oracle improve the confidentiality of solutions based on smart contracts? 2. What are the potential commercial applications of this technology in the financial services industry?
Frequently Updated Research: - Stay updated on advancements in blockchain technology and smart contracts for potential improvements in the method described.
Original Abstract Submitted
the method concerns goods or services based on a blockchain information decentralised storage technology. blockchain infrastructures have been enriched with smart contracts. the emergence of these smart contracts opens up new applications for blockchains, particularly in the exchange of services. however, the lack of confidentiality of solutions based on the use of smart contracts is an obstacle to their development. in order to solve this problem, the method is based on the introduction of an oracle capable of processing encrypted offers without having access to the decrypted content of these offers. an oracle is a third-party service run by several nodes, interfacing the blockchain network with the world. an oracle can feed external information back to a smart contract, or perform calculations on behalf of the smart contract in order to reduce the latter's calculation costs. oracles are trusted entities.
