Unknown Organization (20240220665). NODE AND METHOD FOR SHARING DATA simplified abstract

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NODE AND METHOD FOR SHARING DATA

Organization Name

Unknown Organization

Inventor(s)

Hitoshi Namiki of Kanagawa (JP)

NODE AND METHOD FOR SHARING DATA - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240220665 titled 'NODE AND METHOD FOR SHARING DATA

The abstract of a patent application describes a node on a blockchain network that includes a memory storing asset-related data and contract-related data, as well as circuitry to transmit this data to other nodes on the network.

  • Memory stores asset-related data and contract-related data
  • Circuitry transmits data to other nodes on the blockchain network
  • Data includes information on asset owner, transaction price, and asset price ratio

Potential Applications: - Secure asset ownership tracking - Transparent contract execution - Efficient data sharing on blockchain networks

Problems Solved: - Lack of transparency in asset ownership - Inefficient contract execution - Limited data sharing capabilities on blockchain networks

Benefits: - Improved asset tracking - Enhanced contract transparency - Streamlined data sharing processes

Commercial Applications: Title: Blockchain Asset Management System Description: This technology can be used in financial institutions, supply chain management, and real estate industries for secure asset tracking and transparent contract execution.

Questions about Blockchain Asset Management System: 1. How does this technology improve asset tracking on blockchain networks? 2. What are the potential risks associated with data sharing on blockchain networks?


Original Abstract Submitted

a node on a blockchain network, includes: a memory that stores asset related data including information on an owner of an asset, and contract related data including a transaction price of the asset or a ratio corresponding to the price of the asset; and circuitry to transmit the asset related data and the contract related data to one or more other nodes on the blockchain network to share the asset related data and the contract related data.

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