Systems, methods, and devices for implementing a smart contract on a distributed ledger technology platform
In some embodiments, systems, methods, and devices disclosed herein are directed to implementations of one or more smart contracts deployed on a distributed ledger technology (DLT) platform. In some embodiments, implementation of one or more specific smart contracts and/or private data sharing technologies on a DLT platform can provide frameworks and/or solutions to generate a smart UCC platform that facilitates submission and tracking of Uniform Commercial Code (UCC) filings on a distributed ledger or blockchain platform. In some embodiments, implementation of one or more specific smart contracts and/or private data sharing technologies on a DLT platform can provide frameworks and/or solutions to generate a smart company platform for controlling, managing, and/or communicating company documents and/or communications on a distributed ledger or blockchain platform.
1. A computer-implemented method for implementing a smart contract over a trustless decentralized distributed networked node system, the smart contract configured for electronically recording security interests on the trustless decentralized distributed networked node system, the computer-implemented method comprising:
receiving by a first trustless decentralized networked node from a first user at a first user input for generating a first smart contract output based at least in part on the smart contract configured for electronically recording security interests on the trustless decentralized distributed networked node system, wherein the first user input comprises a first set of assets and an owner of the first set of assets, wherein the first user is assigned a first unique identifier by the trustless decentralized distributed networked node system,
wherein the smart contract comprises a plurality of predetermined electronic actions configured to be automatically performed based on one or more triggering events, and
wherein the smart contract is published on the trustless decentralized distributed networked node system and agreed upon by each of a plurality of trustless decentralized distributed networked nodes on the trustless decentralized distributed networked node system;
generating by the first trustless decentralized networked node the first smart contract output based at least in part on the smart contract and the first user input, the smart contract configured to assign a second unique identifier to the owner of the first set of assets and a third unique identifier to the first set of assets, wherein the first smart contract output comprises a first electronic security interest on the first set of assets;
transmitting by the first trustless decentralized networked node the first smart contract output generated based at least in part on the smart contract to the trustless decentralized distributed networked node system comprising the plurality of trustless decentralized distributed networked nodes; and
recording by the first trustless decentralized networked node the first smart contract output generated based in part on the smart contract on the trustless decentralized distributed networked node system after receiving notification from a central authority that the first smart contract output generated based in part on the smart contract is acceptable for recording on the trustless decentralized distributed networked node system,
wherein the first trustless decentralized networked node comprises a computer processor and an electronic storage medium.
2. The computer-implemented method of claim 1 , further comprising:
receiving by a second trustless decentralized networked node from a second user a second user input for generating a second smart contract output based at least in part on the smart contract configured for electronically recording security interests on the trustless decentralized distributed networked node system, wherein the second user input comprises the owner of the first set of assets and the first set of assets, wherein the second user is assigned a fourth unique identifier by the trustless decentralized distributed networked node system;
generating by the second trustless decentralized networked node the second smart contract output based at least in part on the smart contract and the second user input, the smart contract configured to access the second unique identifier of the owner of the first set of assets and the third unique identifier of the first set of assets, wherein the second smart contract output comprises a second electronic security interest on the first set of assets;
executing by one or more of the plurality of trustless decentralized distributed networked nodes the smart contract to determine existence of the first security interest on the first set of assets;
preventing by the smart contract transmission of the second smart contract output generated based at least in part on the smart contract from the second trustless decentralized networked node to the trustless decentralized distributed networked node system; and
transmitting by the trustless decentralized distributed networked node system an electronic alert notification to the second user based on the determination of the existence of the first security interest, wherein the electronic alert notification notifies the second user that the second smart contract output was prevented from being transmitted to the trustless decentralized distributed networked node system.
3. The computer-implemented method of claim 2 , further comprising:
transmitting by the trustless decentralized distributed networked node system another electronic alert notification to the first user based on the determination of the existence of the first security interest, wherein the another electronic alert notification notifies the first user that the second smart contract output attempted to record the second security interest on the first set of assets.
4. The computer-implemented method of claim 2 , wherein the first and second trustless decentralized networked nodes are the same trustless decentralized networked node.
5. The computer-implemented method of claim 2 , wherein the first and second trustless decentralized networked nodes are different trustless decentralized networked nodes.
6. The computer-implemented method of claim 1 , further comprising:
receiving by a second trustless decentralized networked node from a second user at a second trustless decentralized networked node a second user input for generating a second smart contract output based at least in part on the smart contract configured for electronically recording security interests on the trustless decentralized distributed networked node system, wherein the second user input comprises the first set of assets and the owner of the first set of assets, wherein the second user is assigned a fourth unique identifier by the trustless decentralized distributed networked node system;
generating by the second trustless decentralized networked node the second smart contract output based at least in part on the smart contract and based on the second user input, the second smart contract configured to access the second unique identifier of the owner of the first set of assets and the third unique identifier of the first set of assets, wherein the second smart contract output comprises a second electronic security interest on the first set of assets;
recording by the second trustless decentralized networked node a proposal of the second smart contract output generated based at least in part of the smart contract to the trustless decentralized distributed networked node system comprising the plurality of trustless decentralized distributed networked nodes;
executing by one or more of the plurality of trustless decentralized distributed networked nodes the smart contract to determine existence of the first security interest on the first set of assets; and
rejecting by the one or more of the plurality of trustless decentralized distributed networked nodes the second smart contract output proposed by the second trustless decentralized networked node to the trustless decentralized distributed networked node system based at least in part on the determined existence of the first security interest on the first set of assets.
7. The computer-implemented method of claim 6 , further comprising:
transmitting by the trustless decentralized distributed networked node system an electronic alert notification to the second user based on the determination of the existence of the first security interest, wherein the electronic alert notification notifies the second user that the second smart contract output was rejected based at least in part on the determined existence of the first security interest on the first set of assets.
8. The computer-implemented method of claim 6 , further comprising:
transmitting by the trustless decentralized distributed networked node system another electronic alert notification to the first user based on the determination of the existence of the first security interest, wherein the another electronic alert notification notifies the first user that the second smart contract output attempted to record the second security interest on the first set of assets.
9. The computer-implemented method of claim 1 , further comprising:
receiving by a second trustless decentralized networked node from a second user a second user input for generating a second smart contract output based at least in part on the smart contract configured for electronically recording security interests on the trustless decentralized distributed networked node system, wherein the second user input comprises the first set of assets and the owner of the first set of assets, wherein the second user is assigned a fourth unique identifier by the trustless decentralized distributed networked node system;
generating by the second trustless decentralized networked node the second smart contract output based at least in part on the smart contract and the second user input, the smart contract configured to access the second unique identifier of the owner of the first set of assets and the third unique identifier of the first set of assets, wherein the second smart contract output comprises a second electronic security interest on the first set of assets;
executing by one or more of the plurality of trustless decentralized distributed networked nodes the smart contract to determine existence of the first security interest on the first set of assets;
transmitting by the second trustless decentralized networked node the second smart contract output generated based at least in part on the smart contract to the trustless decentralized distributed networked node system comprising the plurality of trustless decentralized distributed networked nodes;
recording by the second trustless decentralized networked node the second smart contract output generated based in part on the smart contract on the trustless decentralized distributed networked node system after receiving notification from the central authority that the second smart contract output generated based in part on the smart contract is acceptable for recording on the trustless decentralized distributed networked node system; and
transmitting by the trustless decentralized distributed networked node system an electronic alert notification to the first user based on the determination of the existence of the first security interest, wherein the electronic alert notification notifies the first user that the second smart contract output recorded the second security interest on the first set of assets.
10. The computer-implemented method of claim 1 , wherein the transmitting of the first smart contract output generated based at least in part on the smart contract is transmitted over a private channel to enable sharing of private data over the trustless decentralized distributed networked node system.
11. The computer-implemented method of claim 1 , wherein the receiving of the notification from the central authority triggers storing of the first security interest in a secondary data repository.
12. The computer-implemented method of claim 1 , wherein the first set of assets comprises a single asset.
13. The computer-implemented method of claim 1 , wherein the first set of assets comprises a plurality of assets.
14. The computer-implemented method of claim 1 , further comprising:
receiving by the first trustless decentralized networked node from the first user a second user input for generating a second smart contract output based at least in part on the smart contract, wherein the second user input comprises one or more amendments to the first security interest;
generating by the first trustless decentralized networked node the second smart contract output based at least in part on the smart contract and the second user input;
transmitting by the first trustless decentralized networked node the second smart contract output to the trustless decentralized distributed networked node system comprising the plurality of trustless decentralized distributed networked nodes; and
recording by the first trustless decentralized networked node the second smart contract output on the trustless decentralized distributed networked node system after receiving notification from a central authority that the second smart contract output is acceptable for recording on the trustless decentralized distributed networked node system.
15. The computer-implemented method of claim 14 , wherein the one or more amendments to the first security interest comprises extending a term of the first security interest.
16. The computer-implemented method of claim 14 , wherein the one or more amendments to the first security interest comprises terminating the first security interest.
17. The computer-implemented method of claim 14 , wherein the one or more amendments to the first security interest comprises correcting one or more details of the first security interest.
18. The computer-implemented method of claim 1 , further comprising dynamically generating and transmitting by the trustless decentralized distributed networked node system an electronic alert notification to the first user upon one or more triggering events.
19. The computer-implemented method of claim 18 , wherein the one or more triggering events comprises one or more of a variation of a name of the owner of the first set of assets, change in the name of the owner of the first set of assets, or continuation date of the first security interest.
20. The computer-implemented method of claim 1 , further comprising dynamically generating and transmitting by the trustless decentralized distributed networked node system an electronic alert notification to the owner of the first set of assets user upon one or more triggering events.
21. The computer-implemented method of claim 20 , wherein the one or more triggering events comprises one or more of additional security interests filed against the owner of the first set of assets or change in a name of the first user.