Smart contracts, (blockchains, distributed ledgers) and rights management broadly construed are the themes of today's Spotlight Patents. Assigned to BofA, the first patent addresses techniques for executing, securing, and non-repudiation of pooled conditional smart contracts over distributed blockchain network. Assigned to EMC, the second patent addresses electronic agreement data management architecture with blockchain distributed ledger.
11,397,929, "System for executing, securing, and non-repudiation of pooled conditional smart contracts over distributed blockchain network," assigned to Bank of America.
Abstract
Embodiments of the present invention provide a system for executing, securing, and non-repudiation of pooled conditional smart contracts over a distributed blockchain network. In particular, the system may receive an instrument request from a beneficiary entity, where the instrument request includes an instrument amount. The system can then identify a lead contribution amount that a lead entity is willing to provide to meet a portion of the instrument amount. A set of supporting entities can be identified as willing to provide supporting contribution amounts to meet the remainder of the instrument amount. A conditional contract can be sent to each supporting entity that, when signed, authorizes the system to transfer contribution amounts, which may be in the form of cryptocurrency, from blockchain addresses of the lead and supporting entities to a blockchain address of the beneficiary entity. Once the instrument amount has been secured, the system executes the transactions.
11,397,919, "Electronic agreement data management architecture with blockchain distributed ledger," assigned to EMC.
Abstract
A distributed ledger is maintained in accordance with an enterprise. The distributed ledger includes a plurality of nodes such that one or more entities internal to the enterprise and one or more entities external to the enterprise each have access to at least one of the plurality of nodes. Electronic agreements (for example, product/service licenses) between at least a portion of the one or more entities internal to the enterprise and at least a portion of the one or more entities external to the enterprise are managed in association with the distributed ledger. Management includes generating and recording transactions associated with the electronic agreements on the distributed ledger to enable the one or more entities internal to the enterprise and the one or more entities external to the enterprise permissioned access to one or more of the recorded transactions.
