Non-fungible tokens for tracking fungible assets
The present disclosure describes creating and managing one or more tokens (e.g., non-fungible tokens) to represent one or more chemical properties, elemental properties, elemental components, parametric components, and/or molecular components of a resource (e.g. a commodity). The tokens may create an immutable record of a property right of the chemical properties, elemental properties, elemental components, parametric components, and/or molecular components of a resource. As the resource traverses its lifecycle, the tokens may be decremented—or otherwise updated, changed, modified, or altered—as the resource is parsed and/or refined. Based on one or more changes to the chemical composition of the resource, one or more additional tokens may be generated to indicate the one or more changes. When the resource is consumed (e.g., burned as fuel) or sequestered (e.g., used to make plastic), the tokens may be destroyed.
1 . A method comprising:
training, by a computing device and based on training data, a machine learning model to predict of a chemical composition of a fungible asset at different stages of transportation;
receiving, by the computing device and from a distributed ledger, a first record for a fungible asset, wherein the fungible asset is petroleum;
generating, by the computing device, one or more non-fungible tokens for the first record, wherein the one or more non-fungible tokens comprise values representing a first chemical composition of the fungible asset;
analyzing, by the computing device and using a scraping algorithm, the distributed ledger to identify one or more records associated with the fungible asset;
identifying, by the computing device and based on the analysis of the distributed ledger, a second record associated with the fungible asset, wherein the second record comprises a second chemical composition of the fungible asset;
invoking, by the computing device, a smart contract to determine one or more changes to the chemical composition of the fungible asset between the first record and the second record, wherein the smart contract comprises a self-executing computer program stored on the distributed ledger and configured to mint new tokens in response to one or more conditions being met;
in response to the smart contract being invoked, comparing, using the machine learning model, the first record and the second record to identify one or more changes to the chemical composition of the fungible asset;
generating, based on one or more identified changes to the chemical composition of the fungible asset, one or more additional non-fungible tokens, wherein the one or more additional tokens represent the one or more changes in the chemical composition of the fungible asset between the first record and the second record; and
writing, by the computing device, the one or more additional non-fungible tokens to the distributed ledger, wherein the one or more additional non-fungible tokens comprise:
a first indication of a property right in the chemical properties, elemental properties, elemental components, parametric components, and/or molecular components of the fungible asset,
a second indication of an ownership right in the physical fungible asset, and
the property right is separate from the ownership right.
2 . The method of claim 1 , wherein the one or more non-fungible tokens comprise a value representing an amount of a chemical element of the fungible asset, and the one or more additional non-fungible tokens comprise a value indicating that the amount of the chemical element of the fungible asset is decremented.
3 . The method of claim 1 , further comprising:
determining, based on the one or more identified changes, that the fungible asset has been consumed; and
destroying, based on a determination that the fungible asset has been consumed, the one or more non-fungible tokens and the one or more additional non-fungible tokens.
4 . The method of claim 1 , wherein:
the first record comprises information indicating individual chemical elements or individual molecular components of the fungible asset, and
each of the one or more non-fungible tokens comprises a value corresponding to each of the individual chemical elements or each of the individual molecular components of the fungible asset.
5 . The method of claim 1 , wherein the chemical composition of the fungible asset comprises at least one of:
one or more chemical properties, elemental properties, elemental components, parametric components, or molecular components of the fungible asset.
6 . The method of claim 1 , wherein:
a first token of the one or more non-fungible tokens comprises information indicating an amount of carbon contained in the petroleum, and
a second token of the one or more non-fungible tokens comprises information indicating an amount of hydrogen contained in the petroleum.
7 . The method of claim 1 , wherein:
each of the one or more non-fungible tokens comprises information indicating an amount of a chemical element of the fungible asset at a first time, and
each of the one or more additional non-fungible tokens comprises information indicating a remaining amount of the chemical element of the fungible asset at a second time.
8 . An apparatus comprising:
one or more processors; and
memory storing instructions that, when executed by the one or more processors, cause the apparatus to:
train, based on training data, a machine learning model to predict of a chemical composition of a fungible asset at different stages of transportation;
receive, from a distributed ledger, a first record for a fungible asset, wherein the fungible asset is petroleum;
generate one or more non-fungible tokens for the first record, wherein the one or more non-fungible tokens comprise values representing a first chemical composition of the fungible asset;
analyze, using a scraping algorithm, the distributed ledger to identify one or more records associated with the fungible asset;
identify, based on the analysis of the distributed ledger, a second record associated with the fungible asset, wherein the second record comprises a second chemical composition of the fungible asset;
invoke a smart contract to determine one or more changes to the chemical composition of the fungible asset between the first record and the second record, wherein the smart contract comprises a self-executing computer program stored on the distributed ledger and configured to mint new tokens in response to one or more conditions being met;
in response to the smart contract being invoked, compare, using the machine learning model, the first record and the second record to identify one or more changes to the chemical composition of the fungible asset;
generate, based on the one or more identified changes to the chemical composition of the fungible asset, one or more additional non-fungible tokens, wherein the one or more additional tokens represent the one or more changes in the chemical composition of the fungible asset between the first record and the second record; and
write the one or more additional non-fungible tokens to the distributed ledger, wherein the one or more additional non-fungible tokens comprise:
a first indication of a property right in the chemical properties, elemental properties, elemental components, parametric components, and/or molecular components of the fungible asset,
a second indication of an ownership right in the physical fungible asset, and
the property right is separate from the ownership right.
9 . The apparatus of claim 8 , wherein the one or more non-fungible tokens comprise a value representing an amount of a chemical element of the fungible asset, and the one or more additional non-fungible tokens comprise a value indicating that the amount of the chemical element of the fungible asset is decremented.
10 . The apparatus of claim 8 , wherein instructions, when executed by the one or more processors, cause the apparatus to:
determine, based on the one or more identified changes, that the fungible asset has been consumed; and
destroy, based on a determination that the fungible asset has been consumed, the one or more non-fungible tokens and the one or more additional non-fungible tokens.
11 . The apparatus of claim 8 , wherein:
the first record comprises information indicating individual chemical elements or individual molecular components of the fungible asset, and
each of the one or more non-fungible tokens comprises a value corresponding to each of the individual chemical elements or each of the individual molecular components of the fungible asset.
12 . The apparatus of claim 8 , wherein the chemical composition of the fungible asset comprises at least one of:
one or more chemical properties, elemental properties, elemental components, parametric components, or molecular components of the fungible asset.
13 . The apparatus of claim 8 , wherein:
a first token of the one or more non-fungible tokens comprises information indicating an amount of carbon contained in the petroleum, and
a second token of the one or more non-fungible tokens comprises information indicating an amount of hydrogen contained in the petroleum.
14 . The apparatus of claim 8 , wherein:
each of the one or more non-fungible tokens comprises information indicating an amount of a chemical element of the fungible asset at a first time, and
each of the one or more additional non-fungible tokens comprises information indicating a remaining amount of the chemical element of the fungible asset at a second time.
15 . A non-transitory computer readable medium storing instructions that, when executed, cause:
training, based on training data, a machine learning model to predict of a chemical composition of a fungible asset at different stages of transportation;
receiving, from a distributed ledger, a first record for a fungible asset, wherein the fungible asset is petroleum;
generating one or more non-fungible tokens for the first record, wherein the one or more non-fungible tokens comprise values representing a first chemical composition of the fungible asset;
identifying, based on the analysis of the distributed ledger, a second record associated with the fungible asset, wherein the second record comprises a second chemical composition of the fungible asset;
invoking a smart contract to determine one or more changes to the chemical composition of the fungible asset between the first record and the second record, wherein the smart contract comprises a self-executing computer program stored on the distributed ledger and configured to mint new tokens in response to one or more conditions being met;
in response to the smart contract being invoked, comparing, using the machine learning model, the first record and the second record to identify one or more changes to the chemical composition of the fungible asset;
generating, based on one or more identified changes to the chemical composition of the fungible asset, one or more additional non-fungible tokens, wherein the one or more additional tokens represent the one or more changes in the chemical composition of the fungible asset between the first record and the second record; and
writing the one or more additional non-fungible tokens to the distributed ledger, wherein the one or more additional non-fungible tokens comprise:
a first indication of a property right in the chemical properties, elemental properties, elemental components, parametric components, and/or molecular components of the fungible asset,
a second indication of an ownership right in the physical fungible asset, and
the property right is separate from the ownership right.
16 . The non-transitory computer readable medium of claim 15 , wherein the one or more non-fungible tokens comprise a value representing an amount of a chemical element of the fungible asset, and the one or more additional non-fungible tokens comprise the value indicating that the amount of a chemical element of the fungible asset is decremented.
17 . The non-transitory computer readable medium of claim 15 , wherein the instructions, when executed, cause:
determining, based on the one or more identified changes, that the fungible asset has been consumed; and
destroying, based on a determination that the fungible asset has been consumed, the one or more non-fungible tokens and the one or more additional non-fungible tokens.
18 . The non-transitory computer readable medium of claim 15 , wherein:
the first record comprises information indicating individual chemical elements or individual molecular components of the fungible asset, and
each of the one or more non-fungible tokens comprises a value corresponding to each of the individual chemical elements or each of the individual molecular components of the fungible asset.
19 . The non-transitory computer readable medium of claim 15 , wherein the chemical composition of the fungible asset comprises at least one of:
one or more chemical properties, elemental properties, elemental components, parametric components, or molecular components of the fungible asset.
20 . The non-transitory computer readable medium of claim 15 , wherein:
a first token of the one or more non-fungible tokens comprises information indicating an amount of carbon contained in the petroleum, and
a second token of the one or more non-fungible tokens comprises information indicating an amount of hydrogen contained in the petroleum.