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

Claim 0:
1. A token system, employing a semi-fungible token representing an interest of a class in a smart contract, comprising:
a distributed ledger operating according to distributed consensus, storing parameters of a smart contract in a distributed database, the smart contract representing an agreement, secured by a security interest in non-tokenized property, to execute the security interest unless a token of the class is returned within a period;
a communication port configured to interface with an automated communication network for communications between a plurality of intercommunicating automated cryptographic hardware processors; and
an automated distributed virtual state machine, hosted by the plurality of intercommunicating automated cryptographic hardware processors, employing distributed ledger for transaction validation, the automated distributed virtual state machine being configured to:
communicate distributed consensus messages between the plurality of intercommunicating automated cryptographic hardware processors through the automated communication network;
communicate the token;
execute the smart contract defined by the parameters, receiving inputs and producing outputs on a blockchain;
communicate an immutable message for exercise of the security interest in the non-tokenized property; and
update the distributed database of the distributed ledger.