Tata Consultancy Services Limited (20240257112). METHOD AND SYSTEM FOR BLOCKCHAIN SERVICE ORCHESTRATION simplified abstract
Contents
METHOD AND SYSTEM FOR BLOCKCHAIN SERVICE ORCHESTRATION
Organization Name
Tata Consultancy Services Limited
Inventor(s)
ASHOK Seshadri of Chennai (IN)
NAMITHA Jeremiah of Chennai (IN)
SAPTARSHEE Bhattacharjee of Chennai (IN)
METHOD AND SYSTEM FOR BLOCKCHAIN SERVICE ORCHESTRATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240257112 titled 'METHOD AND SYSTEM FOR BLOCKCHAIN SERVICE ORCHESTRATION
The abstract of the patent application describes a method and system for a framework to orchestrate and manage transactions within or across various blockchain platforms without changing the underlying platform protocols. A hash-tree is created to map service execution within or across different blockchain platforms, allowing for the tracing of effects on asset ledgers and wallets.
- The framework enables the orchestration of operations within or across different blockchain platforms without impacting the blockchain protocol layer.
- It reduces the time and effort needed to create targeted interoperability solutions for each blockchain platform.
- A hash-tree is utilized to create a complete map of service execution within or across various blockchain platforms.
- The framework allows for the tracing of effects on asset ledgers and wallets, ensuring transparency and accountability in transactions.
Potential Applications: - Financial services for faster and more secure transactions - Supply chain management for tracking goods and ensuring authenticity - Healthcare for securely storing patient records and sharing information between providers
Problems Solved: - Lack of interoperability between different blockchain platforms - Time-consuming and complex process of creating interoperability solutions for each platform - Difficulty in tracing the effects of transactions on asset ledgers and wallets
Benefits: - Increased efficiency in transaction processing - Reduced likelihood of fraud and errors - Enhanced transparency and accountability in transactions
Commercial Applications: Title: Blockchain Interoperability Framework for Seamless Transactions This technology can be used in financial institutions, supply chain companies, and healthcare organizations to streamline operations and ensure secure transactions across different blockchain platforms.
Questions about Blockchain Interoperability Framework: 1. How does the framework ensure transparency in transactions across various blockchain platforms? The framework utilizes a hash-tree to map service execution and trace the effects on asset ledgers and wallets, ensuring transparency and accountability.
2. What are the potential benefits of using this framework in supply chain management? The framework can help track goods, ensure authenticity, and streamline operations in the supply chain industry, leading to increased efficiency and reduced fraud.
Original Abstract Submitted
several factors have contributed to an increased demand for an enterprise blockchain in various industries such as reduced administrative cost, faster transaction processing, reduced likelihood of fraud etc. several blockchain applications and technologies have emerged, however, there is a need to interoperate with various blockchain platforms by defining the interoperability semantics. embodiments herein provide a method and system for a framework to orchestrate and manage the transactions within or across various blockchain platforms without making any change to the underlying platform protocols. framework allows to orchestrate operations within or across various blockchain platforms without impacting blockchain protocol layer thereby reducing time and effort needed in creating targeted interoperability solution for each blockchain platform. a hash-tree is created out of service orchestration and various service invocation allows to create a complete map of service execution within or across various blockchain platforms to trace its effect on various asset ledgers and wallets.
