FMR LLC (20240338667). Blockchain Augmented Crypto Asset Valuation Apparatuses, Processes and Systems simplified abstract
Contents
Blockchain Augmented Crypto Asset Valuation Apparatuses, Processes and Systems
Organization Name
Inventor(s)
John Mcdonough of Nahant MA (US)
Feina Niu of Cambridge MA (US)
Blockchain Augmented Crypto Asset Valuation Apparatuses, Processes and Systems - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240338667 titled 'Blockchain Augmented Crypto Asset Valuation Apparatuses, Processes and Systems
The blockchain augmented crypto asset valuation apparatuses, processes, and systems (“nbsa”) transform various inputs related to NFT generation, authentication, document publishing, access, transfer transactions, clawback transactions, and valuation requests into corresponding outputs through nbsa components.
- Authenticating NFT generation input, NFT authentication input, document publishing input, NFT document access input, transfer transaction input, clawback transaction input, and valuation access request datastructure/inputs are processed by nbsa components.
- Outputs include authenticating NFT generation output, NFT authentication output, document publishing output, NFT document access output, transfer transaction output, clawback transaction output, and valuation access response outputs.
- A crypto asset valuation request datastructure is obtained and used to determine a relevant crypto asset valuation transaction.
- Historical crypto asset valuation data is retrieved from a blockchain to compute default, higher band, and lower band valuations of the crypto asset using AI crypto asset valuation engines.
- The valuation of the crypto asset computed by the best performing AI crypto asset valuation engine is selected, and a valuation transaction for the crypto asset is submitted to the blockchain.
Potential Applications: - Streamlining the valuation process of crypto assets - Enhancing the security and authenticity of NFTs - Facilitating efficient transfer and clawback transactions in the blockchain space
Problems Solved: - Simplifying the complex process of crypto asset valuation - Ensuring the integrity and accuracy of NFT authentication - Providing a transparent and reliable system for document publishing and access
Benefits: - Improved efficiency in crypto asset valuation - Enhanced security and trust in NFT transactions - Increased transparency and accountability in blockchain operations
Commercial Applications: Title: "Blockchain-Enhanced Crypto Asset Valuation System" This technology can be utilized by financial institutions, investment firms, and blockchain companies to streamline the valuation process of crypto assets, enhance the security of NFT transactions, and improve overall operational efficiency in the blockchain space.
Questions about the technology: 1. How does the nbsa system ensure the authenticity and security of NFT transactions? 2. What sets the AI crypto asset valuation engines apart in computing accurate valuations for crypto assets?
Original Abstract Submitted
the blockchain augmented crypto asset valuation apparatuses, processes and systems (“nbsa”) transforms authenticating nft generation input, nft authentication input, document publishing input, nft document access input, transfer transaction input, clawback transaction input, valuation access request datastructure/inputs via nbsa components into authenticating nft generation output, nft authentication output, document publishing output, nft document access output, transfer transaction output, clawback transaction output, valuation access response outputs. a crypto asset valuation request datastructure is obtained. a relevant crypto asset valuation transaction for a crypto asset is determined. historical crypto asset valuation data is retrieved from a blockchain. a default valuation, a higher band valuation and a lower band valuation of the crypto asset are computed by ai crypto asset valuation engines. a valuation of the crypto asset computed by a best performing ai crypto asset valuation engine is selected. a crypto asset valuation transaction for the crypto asset is submitted to the blockchain.
