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1. (WO2018165472) SYSTEM AND METHOD FOR CREATING COMMODITY ASSET-SECURED TOKENS FROM RESERVES

Pub. No.:    WO/2018/165472    International Application No.:    PCT/US2018/021607
Publication Date: Fri Sep 14 01:59:59 CEST 2018 International Filing Date: Fri Mar 09 00:59:59 CET 2018
IPC: G06Q 20/00
G06Q 40/00
G06F 21/64
Applicants: IP OVERSIGHT CORPORATION
YOUB, Christopher
YOUB, Bruce
Inventors: YOUB, Christopher
YOUB, Bruce
MEHLMAN, Scott
ZIMITS, Michael
Title: SYSTEM AND METHOD FOR CREATING COMMODITY ASSET-SECURED TOKENS FROM RESERVES
Abstract:
A method for creating an asset-backed distributed ledger token representing a smart contract, the token being backed by a pledge of an illiquid form of a precursor or means of production of a commodity asset, comprising receiving a pledge of unrefined or pre-commodity asset, digitizing the unrefined commodity asset into fractional representations of the commodity asset using smart contracts on a distributed ledger network, and allowing account holders access to the perform transactions on the distributed ledger network to trade the fractional representations under the terms of the smart contract.