18616143. TRANSACTION PLATFORM WITH SYNCHRONIZED SEMI-REDUNDANT LEDGERS simplified abstract (TRETE Inc.)
Contents
- 1 TRANSACTION PLATFORM WITH SYNCHRONIZED SEMI-REDUNDANT LEDGERS
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 TRANSACTION PLATFORM WITH SYNCHRONIZED SEMI-REDUNDANT LEDGERS - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Commercial Applications
- 1.9 Questions about Fractional Asset Ownership and Exchange Technology
- 1.10 Original Abstract Submitted
TRANSACTION PLATFORM WITH SYNCHRONIZED SEMI-REDUNDANT LEDGERS
Organization Name
Inventor(s)
Damien Patton of Plano TX (US)
TRANSACTION PLATFORM WITH SYNCHRONIZED SEMI-REDUNDANT LEDGERS - A simplified explanation of the abstract
This abstract first appeared for US patent application 18616143 titled 'TRANSACTION PLATFORM WITH SYNCHRONIZED SEMI-REDUNDANT LEDGERS
Simplified Explanation
The patent application describes a computer-implemented method for creating digital assets representing fractional interests in an asset, facilitating smart contracts for exchanging these digital assets, performing transactions based on the smart contracts, updating capitalization tables, and recording transaction data on ledgers.
- Receiving information about asset characteristics
- Generating digital assets representing fractional interests
- Facilitating smart contracts for asset exchange
- Performing transactions based on smart contracts
- Updating capitalization tables
- Recording transaction data on ledgers
Potential Applications
This technology could be applied in various industries such as real estate, finance, and art where fractional ownership and asset exchange are common practices.
Problems Solved
This technology streamlines the process of asset exchange, improves transparency in transactions, and provides a secure way to manage fractional ownership.
Benefits
The benefits of this technology include increased efficiency in asset trading, reduced transaction costs, enhanced security, and improved record-keeping.
Commercial Applications
Title: "Fractional Asset Ownership and Exchange Technology in Real Estate Markets" This technology could revolutionize real estate investment by allowing individuals to own fractions of high-value properties, enabling easier asset diversification, and creating new opportunities for small investors to enter the market.
Questions about Fractional Asset Ownership and Exchange Technology
1. How does this technology impact traditional asset ownership models? 2. What are the potential risks associated with using smart contracts for asset exchange?
Original Abstract Submitted
In certain aspects of the disclosure, a computer-implemented method includes receiving information regarding characteristics of an asset. The method includes generating at least one digital asset representing fractional interests in the asset. The method includes facilitating establishment of a smart contract for exchanging the at least one digital asset held by a first entity for trade proceeds from a second entity. The method includes performing a transaction based on the smart contract. The method includes updating a capitalization table based on performing the transaction. The method includes recording data, pertaining to the transaction that is performed, on a primary ledger and a secondary ledger.
