Smart contracts, (blockchains, distributed ledgers) and rights management broadly construed are the themes of today's Spotlight Patents. Assigned to IBM, the first patent addresses a significant issue relating to smart contracts: how does one formally verify a smart contract. Assigned to Adobe, the second patent addresses techniques for generating customized smart contracts.
11587189, “Formal verification of smart contracts,” assigned to IBM.
Abstract
Embodiments relate to a system, program product, and method for smart contract implementation and management. A request for resources is modeled and a reservation of resources is captured in a first computation model interface. A provision of services is modeled as a second computation model interface. Compatibility of the first and second computation model interfaces is verified. Input and output actions are synchronized between the first and second computation model interfaces responsive to the compatibility verification. A smart contract is composed as a third computation model interface to model negotiation of contractual terms, including the captured resources with the provision of services. The composed smart contract is recorded in an operatively coupled immutable venue.
11588619, “Generating customized smart contracts,” assigned to Adobe.
Abstract
Embodiments relate to a smart contract platform that facilitates creation, execution and verification of customized smart contracts. The smart contract platform enables design of customized smart contracts for execution and verification on a distributed ledger network, including smart contracts with logic for querying and fetching sensitive transactional data from participant nodes. A distributed ledger can store tokens indicating successful completion of one or more transaction elements without making some or all the associated transactional data visible. A smart contract form viewer can be used to view and interact with a smart contract form linked to the smart contract. The smart contract form can present contractual provisions in natural language, present transactional data to an authorized user, and accept entry or validation of designated transaction data. As such, the smart contracts described herein provide visibility and verifiability without the lost privacy and lack of customizability that exist with present solutions.
