Unknown Organization (20240348446). Golf Ledger and Token simplified abstract
Contents
Golf Ledger and Token
Organization Name
Inventor(s)
Golf Ledger and Token - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240348446 titled 'Golf Ledger and Token
The invention described in the abstract relates to a distributed ledger system called the Golf Ledger, which addresses the issues of the blockchain trilemma and the lack of real-world value in cryptocurrencies. By leveraging the existing decentralization of the world's golf courses, the Golf Ledger is distributed across a network of computers installed at up to 40,000 golf courses.
- The Golf Ledger solves the problems of the blockchain trilemma and the lack of real-world value in cryptocurrencies.
- It leverages the existing decentralization of the world's golf courses to create a distributed ledger system.
- The Golf Token serves as the native cryptocurrency of the Golf Ledger network and is rewarded to golf courses for contributing computing resources.
- Customers can use the Golf Token to pay for golfing fees and receive discounts, providing a tangible real-world value.
- Potential Applications:
The Golf Ledger technology can be applied to various industries beyond golf, such as real estate, supply chain management, and voting systems.
- Problems Solved:
The Golf Ledger addresses the issues of scalability, decentralization, and real-world value in cryptocurrencies, enabling mass adoption.
- Benefits:
The benefits of the Golf Ledger technology include increased scalability, enhanced security, real-world utility, and incentivized participation.
- Commercial Applications:
Title: "Revolutionizing Cryptocurrency with the Golf Ledger Technology" The Golf Ledger technology can be commercially utilized in payment systems, loyalty programs, and decentralized applications.
- Prior Art:
Readers can explore prior art related to distributed ledger systems, decentralized infrastructure networks, and cryptocurrency innovations.
- Frequently Updated Research:
Stay updated on the latest advancements in distributed ledger technology, decentralized networks, and cryptocurrency applications.
- Questions about Golf Ledger:
1. How does the Golf Ledger technology improve upon existing blockchain systems? 2. What potential challenges could arise in implementing the Golf Ledger technology on a global scale?
Original Abstract Submitted
this invention pertains to the fields of distributed ledger, cryptocurrency, and decentralized physical infrastructure network. it solves the problems of the blockchain trilemma and cryptocurrency's lack of a real-world value that is recognizable to the mainstream population. those two problems have prevented any cryptocurrency from gaining mass adoption. the golf ledger is distributed across a network of computers that are installed at up to 40,000 golf courses to leverage the existing decentralization of the world's golf courses and their ownership entry barrier and therefore does not need to sacrifice scalability for decentralization and security. the golf token as the native cryptocurrency of the golf ledger network is rewarded to golf courses for their contributing more and more computing resources to make the network more scalable. their customers can use the golf token to pay golfing fees and get a discount, which is an obvious real-world value.
