Skychain CO., LTD. (20240233005). INTEREST TOKEN PROCESSING SYSTEM INTEGRATED WITH BLOCKCHAIN AND METHOD THEREOF simplified abstract
Contents
INTEREST TOKEN PROCESSING SYSTEM INTEGRATED WITH BLOCKCHAIN AND METHOD THEREOF
Organization Name
Inventor(s)
Chen-Hsuan Wang of Taipei City (TW)
Jiann-Min Yang of Taipei City (TW)
Scott Miau of Taipei City (TW)
INTEREST TOKEN PROCESSING SYSTEM INTEGRATED WITH BLOCKCHAIN AND METHOD THEREOF - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240233005 titled 'INTEREST TOKEN PROCESSING SYSTEM INTEGRATED WITH BLOCKCHAIN AND METHOD THEREOF
The patent application describes an interest token processing system integrated with blockchain technology, allowing for the generation and distribution of interest tokens for products or services based on specified recycling conditions.
- Smart contract deployed in blockchain environment
- Generation of interest tokens and recycling conditions
- Execution of smart contract to realize part of interest tokens and distribute the rest
- Distribution of received interest tokens based on ratio of held amount to circulation amount
Potential Applications: - E-commerce platforms - Loyalty programs - Reward systems
Problems Solved: - Ensuring usability and interest rights of tokens - Efficient distribution of interest tokens
Benefits: - Increased user engagement - Transparent and secure transactions - Incentivizing recycling and sustainability efforts
Commercial Applications: Title: "Blockchain-based Interest Token System for Enhanced User Engagement" This technology can be utilized in various industries such as e-commerce, gaming, and loyalty programs to enhance user engagement and incentivize customer loyalty.
Questions about the technology: 1. How does the integration of blockchain technology enhance the security of interest token transactions? 2. What are the potential challenges in implementing this system on a large scale?
Original Abstract Submitted
an interest token processing system integrated with blockchain and method thereof are disclosed. in the interest token processing system, a smart contract is deployed in blockchain environment, and interest tokens of a product or a service and a recycling condition of the interest tokens are generated for a specified target; when the product or the service is obtained through the interest tokens, the smart contract is executed to realize a part of the interest tokens based on the recycling condition and receive another part of the interest tokens for further distribution; during an operation of further distribution, the received interest tokens are distributed based on a ratio of a held amount of the interest tokens to a circulation amount of the interest tokens. therefore, the technical effect of enabling the tokens to have usability and interest right can be achieved.
