18061170. USING PARTITIONS WITHIN A DISTRIBUTED DATABASE simplified abstract (Capital One Services, LLC)
Contents
- 1 USING PARTITIONS WITHIN A DISTRIBUTED DATABASE
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 USING PARTITIONS WITHIN A DISTRIBUTED DATABASE - 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 Decentralized Autonomous Organizations
- 1.13 Original Abstract Submitted
USING PARTITIONS WITHIN A DISTRIBUTED DATABASE
Organization Name
Inventor(s)
Lin Ni Lisa Cheng of Great Neck NY (US)
Xiaoguang Zhu of New York NY (US)
Samuel Rapowitz of Roswell GA (US)
USING PARTITIONS WITHIN A DISTRIBUTED DATABASE - A simplified explanation of the abstract
This abstract first appeared for US patent application 18061170 titled 'USING PARTITIONS WITHIN A DISTRIBUTED DATABASE
Simplified Explanation
The patent application describes a system where a device receives parameters for a partition of a decentralized autonomous organization (DAO) in a distributed database. These parameters include conditions for completion of the partition and the recipient's digital asset wallet. A smart contract is added to the database, containing executable code that enforces these parameters. Upon meeting the completion condition, the smart contract records the association between the partition's digital asset wallet and the recipient's wallet in another database.
- Device receives parameters for a DAO partition in a distributed database.
- Parameters include completion conditions and recipient's digital asset wallet.
- Smart contract with executable code enforces these parameters.
- Upon meeting the condition, the association between wallets is recorded in another database.
Key Features and Innovation
- Device receives parameters for DAO partition - Smart contract enforces parameters for completion - Association between wallets recorded in another database
Potential Applications
This technology can be applied in various industries where decentralized autonomous organizations are utilized, such as finance, supply chain management, and governance systems.
Problems Solved
This technology streamlines the process of partitioning a DAO and ensures that digital assets are transferred to the correct recipient upon completion.
Benefits
- Efficient partitioning of DAOs - Secure transfer of digital assets - Automated enforcement of partition parameters
Commercial Applications
The technology can be used in financial institutions, logistics companies, and government agencies to automate and secure the transfer of digital assets within decentralized organizations.
Prior Art
There may be prior art related to smart contracts and decentralized autonomous organizations in the field of blockchain technology.
Frequently Updated Research
Research on smart contracts, distributed databases, and decentralized autonomous organizations is constantly evolving and may impact the implementation of this technology.
Questions about Decentralized Autonomous Organizations
Question 1
How does this technology improve the efficiency of transferring digital assets within a decentralized autonomous organization?
This technology improves efficiency by automating the process of partitioning a DAO and ensuring that digital assets are securely transferred to the correct recipient upon completion.
Question 2
What are the potential risks associated with using smart contracts in decentralized autonomous organizations?
Potential risks include coding errors leading to vulnerabilities, disputes over contract execution, and regulatory challenges in some jurisdictions.
Original Abstract Submitted
In some implementations, a device may receive information indicating a set of parameters for a partition of a decentralized autonomous organization (DAO) implemented by a distributed database. The set of parameters may include a first parameter indicating a condition for completion of the partition and a second parameter indicating a digital asset wallet of a recipient that is to receive digital assets associated with the partition upon completion of the partition. The device may cause a smart contract, associated with the partition, to be added to the distributed database. The smart contract may include executable code that codifies the set of parameters. The smart contract may be configured to cause, responsive to satisfaction of the condition for completion of the partition, a record to be added to an additional distributed database indicating an association between a digital asset wallet of the partition and the digital asset wallet of the recipient.
