SPORTS DATA LABS, INC. (20240378683). A SYSTEM AND METHOD FOR COLLECTING, EVALUATING, AND TRANSFORMING ANIMAL DATA FOR USE AS A DIGITAL CURRENCY OR COLLATERAL TO ACQUIRE CONSIDERATION simplified abstract
A SYSTEM AND METHOD FOR COLLECTING, EVALUATING, AND TRANSFORMING ANIMAL DATA FOR USE AS A DIGITAL CURRENCY OR COLLATERAL TO ACQUIRE CONSIDERATION
Organization Name
Inventor(s)
Mark Gorski of Royal Oak MI (US)
Vivek Khare of Cupertino CA (US)
Stanley Mimoto of Bethel Island CA (US)
A SYSTEM AND METHOD FOR COLLECTING, EVALUATING, AND TRANSFORMING ANIMAL DATA FOR USE AS A DIGITAL CURRENCY OR COLLATERAL TO ACQUIRE CONSIDERATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240378683 titled 'A SYSTEM AND METHOD FOR COLLECTING, EVALUATING, AND TRANSFORMING ANIMAL DATA FOR USE AS A DIGITAL CURRENCY OR COLLATERAL TO ACQUIRE CONSIDERATION
The abstract describes a system and method for using animal data as digital currency or collateral to acquire other consideration. Biological data sensors collect data from targeted animals, which is then transmitted electronically. An intermediary server gathers the animal data and associated metadata, generating terms for using the data as collateral. Upon acceptance by the targeted individual, consideration is provided in exchange for the collateral.
- Animal data is collected and evaluated to be used as digital currency or collateral.
- Biological data sensors gather information from targeted animals.
- An intermediary server processes the data and generates terms for using it as collateral.
- Consideration is provided in exchange for the animal data collateral.
- The system enables individuals to secure consideration using their animal data.
Potential Applications: - Financial services leveraging animal data as collateral. - Data-driven transactions in the agriculture or veterinary industries. - Innovative ways to monetize animal data for various purposes.
Problems Solved: - Providing a new form of digital currency using animal data. - Enabling individuals to leverage their animal data for financial gain. - Facilitating secure transactions based on biological information.
Benefits: - Monetization of animal data for individuals. - Enhanced financial opportunities for targeted individuals. - Secure and efficient transactions using animal data as collateral.
Commercial Applications: Title: "Animal Data Monetization System" This technology could be utilized in financial services, agriculture, veterinary industries, and data-driven businesses. It opens up new avenues for leveraging animal data for financial transactions and innovative services.
Questions about the technology: 1. How does this system ensure the security and privacy of the animal data used as collateral? 2. What are the potential risks or limitations associated with using animal data as digital currency or collateral?
Original Abstract Submitted
a system and method for collecting, evaluating, and transforming animal data as a form of digital currency or collateral to acquire other consideration includes a source of animal data. biological data sensors gather animal data from a targeted individual that is transmitted electronically. an intermediary server gathers at least a portion of the animal data and associated metadata. the intermediary server generates one or more terms for using the at least a portion of animal data as collateral to enable the targeted individual to secure consideration. upon acceptance of the one or more terms by the targeted individual, the intermediary server provides consideration based upon the assigned monetary value, at least in part, to another computing device in exchange for the collateral, the collateral including the at least a portion of animal data.
