18060837. UTILIZING BLOCKCHAIN TECHNOLOGY TO AUTOMATE SERVICE INVOICE PROCESSING simplified abstract (SAUDI ARABIAN OIL COMPANY)
Contents
- 1 UTILIZING BLOCKCHAIN TECHNOLOGY TO AUTOMATE SERVICE INVOICE PROCESSING
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 UTILIZING BLOCKCHAIN TECHNOLOGY TO AUTOMATE SERVICE INVOICE PROCESSING - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Key Features and Innovation
- 1.6 Potential Applications
- 1.7 Problems Solved
- 1.8 Benefits
- 1.9 Commercial Applications
- 1.10 Prior Art
- 1.11 Frequently Updated Research
- 1.12 Questions about Blockchain-Based Service Certification System for Contracted Services
- 1.13 Original Abstract Submitted
UTILIZING BLOCKCHAIN TECHNOLOGY TO AUTOMATE SERVICE INVOICE PROCESSING
Organization Name
Inventor(s)
Abdullah M. Askari of Tarut (SA)
Mohammed A. Aboulsamh of Dhahran (SA)
UTILIZING BLOCKCHAIN TECHNOLOGY TO AUTOMATE SERVICE INVOICE PROCESSING - A simplified explanation of the abstract
This abstract first appeared for US patent application 18060837 titled 'UTILIZING BLOCKCHAIN TECHNOLOGY TO AUTOMATE SERVICE INVOICE PROCESSING
Simplified Explanation
Various embodiments described in the patent application relate to using blockchain technology to certify the status of contracted services through smart contracts. This involves defining a service catalog based on a service contract, recording it on a blockchain, and executing a smart contract to verify the delivery status of the service.
- The method involves defining a service catalog based on a service contract between multiple entities.
- The service catalog includes service line items and associated delivery parameters.
- The service catalog is recorded on a blockchain for transparency and security.
- A service delivery smart contract is executed to determine the delivery status by comparing the delivery parameters with recorded details on the blockchain.
Key Features and Innovation
- Utilizes blockchain technology to certify the status of contracted services.
- Defines a service catalog with detailed delivery parameters.
- Executes smart contracts to verify service delivery status.
- Enhances transparency and security in service contracts.
Potential Applications
This technology can be applied in various industries where service contracts are prevalent, such as:
- Supply chain management
- Healthcare services
- Construction projects
- Legal services
Problems Solved
- Ensures the accurate and timely delivery of contracted services.
- Enhances trust and transparency between contracting parties.
- Reduces disputes and misunderstandings related to service delivery.
Benefits
- Improved efficiency in monitoring and verifying service delivery.
- Enhanced security and transparency in service contracts.
- Minimized risks of contract breaches and disputes.
Commercial Applications
- "Blockchain-Based Service Certification System for Contracted Services": Implementing this technology in service industries to streamline contract verification processes and enhance trust between parties.
Prior Art
No specific prior art related to this technology was mentioned in the patent application.
Frequently Updated Research
There is no information provided on frequently updated research related to this technology.
Questions about Blockchain-Based Service Certification System for Contracted Services
Question 1
How does this technology impact the efficiency of service delivery verification processes?
This technology significantly improves the efficiency of service delivery verification by automating the process through smart contracts and ensuring transparency through blockchain recording.
Question 2
What are the potential challenges in implementing this system in various industries?
Implementing this system may face challenges related to regulatory compliance, integration with existing systems, and ensuring data privacy and security.
Original Abstract Submitted
Various embodiments described herein are related to blockchain-based solutions to certifying the status of contracted services via one or more smart contracts. For example, one or more embodiments regard a method that comprises defining a service catalog based on a service contract between a plurality of entities. The service catalog includes a service line item and an associated delivery of service parameter. Further, the service catalog is recorded on a blockchain. The method can also include executing a service delivery smart contract to determine a delivery status of the service line item by comparing the delivery of service parameter to a delivery detail recorded on the blockchain or a lack of the delivery detail on the blockchain.
