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 managing corporate governance, the method comprising:
receiving, by a first trustless decentralized networked node of a trustless decentralized networked system, a proposed corporate action from a first user, wherein the trustless decentralized networked system comprises:
a plurality of trustless decentralized networked nodes including the first trustless decentralized networked node, wherein each of the plurality of trustless decentralized networked nodes comprises a local state database accessible to the respective trustless decentralized networked node;
a distributed ledger technology platform operated by the plurality of trustless decentralized networked nodes, wherein the distributed ledger technology platform comprises:
a distributed ledger for recording corporate actions, wherein the distributed ledger is accessible by each of the plurality of trustless decentralized networked nodes; and
a smart contract accessible to each of the plurality of trustless decentralized networked nodes, wherein the smart contract comprises:
one or more triggering events; and
a plurality of predetermined electronic actions for generating a smart contract output when the one or more triggering events are met,
wherein the first trustless decentralized networked node comprises a computer processor and an electronic storage medium;
recording the proposed corporate action to the distributed ledger;
determining, by the first trustless decentralized networked node, that the proposed corporate action meets the one or more triggering events in the smart contract;
upon determining that the proposed corporate action meets the one or more triggering events:
generating, by the first trustless decentralized networked node, a first smart contract output by automatically executing the plurality of predetermined electronic actions in the smart contract based at least in part on the proposed corporate action; and
recording, by the first trustless decentralized networked node, the first smart contract output to the local state database of the first trustless decentralized networked node.
2. The computer-implemented method of claim 1 , wherein the first smart contract output is generated by each of the plurality of trustless decentralized networked nodes by automatically executing the plurality of predetermined electronic actions in the smart contract based at least in part on the recorded proposed corporate action, and wherein the first smart contract output is recorded by each of the plurality of trustless decentralized networked nodes to the local state database of the respective trustless decentralized networked node.
3. The computer-implemented method of claim 1 , further comprising broadcasting, by the first trustless decentralized networked node, the proposed corporate action to the plurality of trustless decentralized networked nodes.
4. The computer-implemented method of claim 1 , wherein the proposed corporate action is publicly published on the distributed ledger technology platform.
5. The computer-implemented method of claim 1 , wherein the proposed corporate action is publicly published on the distributed ledger technology platform by recording the proposed corporate action to the distributed ledger without encryption.
6. The computer-implemented method of claim 1 , wherein the proposed corporate action is published on a private channel of the distributed ledger technology platform, and wherein a subset of the plurality of trustless decentralized networked nodes are members of the private channel.
7. The computer-implemented method of claim 1 , wherein the proposed corporate action is published on a private channel of the distributed ledger technology platform by recording the proposed corporate action to the distributed ledger with encryption, and wherein a subset of the plurality of trustless decentralized networked nodes are members of the private channel.
8. The computer-implemented method of claim 1 , wherein the one or more triggering events comprises reaching a consensus on the content of the proposed corporate action among each of the plurality of trustless decentralized networked nodes.
9. The computer-implemented method of claim 1 , wherein the one or more triggering events comprises receiving a notification from a central authority.
10. The computer-implemented method of claim 1 , wherein the one or more triggering events comprises a vote over the proposed corporate action, through the distributed ledger technology platform, exceeding a voting threshold.
11. The computer-implemented method of claim 1 , further comprising transmitting, by the first trustless decentralized networked node, an electronic alert notification to the first user upon determining that the proposed corporate action meets the one or more triggering events.
12. The computer-implemented method of claim 1 , wherein the proposed corporate action is one of: a share issuance, a board resolution, or an incorporation.
13. The computer-implemented method of claim 1 , wherein the smart contract is generated by a central authority.
14. The computer-implemented method of claim 1 , wherein the first user is a director, board member, secretary, officer, or shareholder of a company.
15. Non-transitory computer-readable media including computer-executable instructions that, when executed by a first trustless decentralized networked node of a trustless decentralized networked system, cause the first trustless decentralized networked node to perform operations comprising:
receiving a proposed corporate action from a first user, wherein the trustless decentralized networked system comprises:
a plurality of trustless decentralized networked nodes including the first trustless decentralized networked node, wherein each of the plurality of trustless decentralized networked nodes comprises a local state database accessible to the respective trustless decentralized networked node;
a distributed ledger technology platform operated by the plurality of trustless decentralized networked nodes, wherein the distributed ledger technology platform comprises:
a distributed ledger for recording corporate actions, wherein the distributed ledger is accessible by each of the plurality of trustless decentralized networked nodes; and
a smart contract accessible to each of the plurality of trustless decentralized networked nodes, wherein the smart contract comprises:
one or more triggering events; and
a plurality of predetermined electronic actions for generating a smart contract output when the one or more triggering events are met,
wherein the first trustless decentralized networked node comprises a computer processor and an electronic storage medium;
recording the proposed corporate action to the distributed ledger;
determining that the proposed corporate action meets the one or more triggering events in the smart contract;
upon determining that the proposed corporate action meets the one or more triggering events:
generating a first smart contract output by automatically executing the plurality of predetermined electronic actions in the smart contract based at least in part on the proposed corporate action; and
recording the first smart contract output to the local state database of the first trustless decentralized networked node.
16. The non-transitory computer-readable media of claim 15 , wherein the first smart contract output is generated by each of the plurality of trustless decentralized networked nodes by automatically executing the plurality of predetermined electronic actions in the smart contract based at least in part on the recorded proposed corporate action, and wherein the first smart contract output is recorded by each of the plurality of trustless decentralized networked nodes to the local state database of the respective trustless decentralized networked node.
17. The non-transitory computer-readable media of claim 15 , wherein the one or more triggering events comprises reaching a consensus on the content of the proposed corporate action among each of the plurality of trustless decentralized networked nodes.
18. A computing system comprising:
a non-transitory computer readable storage medium having program instructions embodied therewith; and
one or more processors configured to execute the program instructions to cause the computing system to:
receive, by a first trustless decentralized networked node of a trustless decentralized networked system, a proposed corporate action from a first user, wherein the trustless decentralized networked system comprises:
a plurality of trustless decentralized networked nodes including the first trustless decentralized networked node, wherein each of the plurality of trustless decentralized networked nodes comprises a local state database accessible to the respective trustless decentralized networked node;
a distributed ledger technology platform operated by the plurality of trustless decentralized networked nodes, wherein the distributed ledger technology platform comprises:
a distributed ledger for recording corporate actions, wherein the distributed ledger is accessible by each of the plurality of trustless decentralized networked nodes; and
a smart contract accessible to each of the plurality of trustless decentralized networked nodes, wherein the smart contract comprises:
one or more triggering events; and
a plurality of predetermined electronic actions for generating a smart contract output when the one or more triggering events are met,
wherein the first trustless decentralized networked node comprises a computer processor and an electronic storage medium;
record the proposed corporate action to the distributed ledger;
determine, by the first trustless decentralized networked node, that the proposed corporate action meets the one or more triggering events in the smart contract;
upon determining that the proposed corporate action meets the one or more triggering events:
generate, by the first trustless decentralized networked node, a first smart contract output by automatically executing the plurality of predetermined electronic actions in the smart contract based at least in part on the proposed corporate action; and
record, by the first trustless decentralized networked node, the first smart contract output to the local state database of the first trustless decentralized networked node.
19. The computing system of claim 18 , wherein the first smart contract output is generated by each of the plurality of trustless decentralized networked nodes by automatically executing the plurality of predetermined electronic actions in the smart contract based at least in part on the recorded proposed corporate action, and wherein the first smart contract output is recorded by each of the plurality of trustless decentralized networked nodes to the local state database of the respective trustless decentralized networked node.
20. The computing system of claim 18 , wherein the one or more triggering events comprises reaching a consensus on the content of the proposed corporate action among each of the plurality of trustless decentralized networked nodes.