International Business Machines Corporation (Armonk, NY)
What is a Patent for Management of assets that expire on the blockchain
Search Patent for Management of assets that expire on the blockchain
A is used to store any type information. While primarily used to record financial transactions, a blockchain can also be used to store any type information, such as products, packages and services. A decentralized scheme transfers authority and trust to a decentralized network and enables its nodes to continuously and sequentially record their transactions on a public “block”, creating a unique “chain” referred to as a blockchain.Cryptography, via hash codes, is used to secure an authentication of a transaction source and removes a central intermediary. A database maintains a constantly-growing list records within the blocks. The records are safe from revisions or tampering because they are immutable. Each block has a time stamp and a hyperlink to the previous block. The block can be used for tracking or verifying any information. A distributed system requires that all the peers reach a consensus before they can record a transaction on the ledger.
Digital assets can be shared or transferred across many domains. A digital online title, or any other identification document, could be used to identify, share and transfer ownership over a motor vehicle or another motor vehicle in the automotive sector. Another example is the healthcare industry, which creates large quantities of patient records data. Such records may require sharing between healthcare providers but also preserving privacy. This requires the asset sharing to be secure, unchangeable as well as tamper-proof. It must also be distributed to be accessible to different parties.
One embodiment might include one or more of the following including identifying an expiration date that is associated with an asset, making a Blockchain transaction identifying the asset and its expiration dates, and storing the blockchain transactionon the blockchain, identifying a request entity with a certificate granting access to the asset, and providing access to the entity that has access to it provided that the expiration is still in process.
A different example of embodiment could be an apparatus with an operating system that can perform one or more of identify an expiration date that is associated with an asset, generate the blockchain transaction that is able to identify the expiration date and the asset and store the blockchain transaction on a blockchain identify a requesting entity with a certificate that permits access to the asset, and then provide the entity requesting access with access to the asset if the expiration date is waiting.
Another example embodiment could provide an untransitory computer-readable medium that holds instructions that, when executed, cause a processor to do one or more of the following: identifying an expiration day associated with an asset; creating a Blockchain transaction, identifying the asset and its expiration dates; recording the blockchain transaction onto the blockchain; identifying entity that is requesting the asset with a certificate permitting access the asset and granting access to the asset the requesting entity as long as the expiration is not over.
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