METHOD FOR DIGITALLY SECURING AN ASSET

A computer-implemented method for automatically and digitally securing an asset is disclosed. The computer-implemented method includes hashing a secret preimage to produce a secret hash. The computer-implemented method further includes locking a digital collateral asset with the secret hash for a fi...

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Bibliographic Details
Main Authors PANDIT, VINAYAKA, Narayanam, Krishnasuri, Vinayagamurthy, Dhinakaran, Nishad, Sandeep, RAMAKRISHNA, VENKATRAMAN
Format Patent
LanguageEnglish
Published 27.06.2024
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:A computer-implemented method for automatically and digitally securing an asset is disclosed. The computer-implemented method includes hashing a secret preimage to produce a secret hash. The computer-implemented method further includes locking a digital collateral asset with the secret hash for a first predetermined period of time. The computer-implemented method further includes locking a digital loan asset with the secret hash for a second predetermined period of time, wherein the second predetermined period of time is less than the first predetermined period of time. The computer-implemented method further pledging a digital loan repayment up to the amount of time of the first predetermined period of time plus the second predetermined period of time. The computer-implemented method further includes responsive to receiving a pledge for the digital loan repayment, automatically unlocking the digital collateral asset for a borrower of the digital loan asset.
Bibliography:Application Number: US202218146479