Patent ID: 11893626
Assignee: STICHTING IP-OVERSIGHT
Field: IT methods for management (Electrical engineering)
Classification: CPC G  H | IPC G  H

Claim 10:
11. A token transaction method, comprising:
defining an executable smart contract adapted to execute on a blockchain, having parameters stored in a distributed database of a distributed ledger, representing an agreement to return a semi-fungible token of a defined class within a period, secured by a security interest in property which is possessed and used off the blockchain, the executable smart contract being executed on an automated distributed virtual state machine comprising a plurality of intercommunicating cryptographic hardware processors communicating through an automated communication network;
issuing the token and recording issuance of the token by the on the blockchain;
controlling the automated distributed state machine in accordance with the executable smart contract to execute the security interest to award a right to a possessory interest in the property to a token-holder if a token of the defined class is not tendered within the period;
updating the blockchain selectively dependent on the execution of the security interest; and
communicating with the automated communication network between the intercommunicating plurality of cryptographic hardware processors, at least a portion of the blockchain, distributed consensus messages, the token.