SYSTEMS, METHODS, AND STORAGE MEDIA FOR CONFIGURING A DATA STORAGE AND RETRIEVAL SYSTEM FOR MANAGING DATA RELATING TO TOKENIZED ASSETS
An apparatus, computer-readable medium, and computer-implemented method for configuring computing systems to facilitate decentralized asset management for individual assets and composite assets such as funds. Implementations include smart contract interfaces to link fungible tokens to non-fungible asset tokens to decouple securities transaction logic and corporate functions from asset management to facilitate code reuse. Additionally, the embodied process uses token nesting to enable homogeneous or heterogeneous assets to be combined into a fund structure, and further for funds to be composed into fund of fund models. The flexible structure enables automation of fund management and is designed to facilitate broad investor access to innovative asset management strategies that leverage the disclosed structure.
1 . A method for configuring a data storage and retrieval system for managing data relating to tokenized assets, the method comprising:
creating a digital token in accordance with a class definition, the token including a unique token identifier;
registering the digital token in association with an asset as a unique record in a memory device of an asset registry; and
associating a communication interface with the digital token in accordance with the class definition, wherein the communication interface is compliant with a communication specification implemented by the asset registry and which is configured to expose a set of predefined functions, wherein the predefined functions include asset ownership transfer functions, asset valuation publication functions, asset attribute determination functions and asset specific processing logic.
2 . The method of claim 1 , further comprising associating a cryptographic wallet with the digital token, whereby the wallet is configured to conduct token functions that are recorded in the asset registry.
3 . The method of claim 2 , wherein the asset ownership transfer functions include at least one of a Create Sell Order function, a Cancel Sell Order function an Accept Sell Order Function, a Create Purchase Order function, and Cancel Purchase Order Function, and Accept Purchase Order Function, and a Reject Purchase Order Function.
4 . The method of claim 2 , wherein the digital token is a non-fungible token and the asset is a non-fungible asset.
5 . The method of claim 4 , further comprising:
creating a fungible digital token;
associating a cryptographic wallet with the fungible digital token, whereby the wallet is configured to conduct token functions;
transferring ownership of the non-fungible digital token to the fungible digital token in order to wrap the non-fungible digital token with the fungible digital token and thereby enable fractional ownership of the asset represented by the non-fungible token including functions associated with shared ownership such as multi-party dividend distributions, corporate governance, and share trading.
6 . The method of claim 5 , further comprising associating a communication interface with the fungible digital token, wherein the communication interface is compliant with a communication specification and which is configured to expose a set of predefined functions, wherein the predefined functions include asset ownership transfer functions, asset valuation publication functions, asset attribute determination functions and asset specific processing logic.
7 . The method of claim 6 , wherein the non-fungible digital token represents a fund of assets and includes fund management functions.
8 . The method of claim 5 , wherein the fungible digital token is created in accordance with a token class definition, the fungible digital token including a unique token identifier.
9 . The method of claim 1 , further comprising:
creating a class registry consisting of asset classes each represented by a unique digital instrument or non-fungible token; and
wherein the non-fungible class token has a parent non-fungible class token, wherein the class of child tokens inherits the attributes and function of the parent class token; and
wherein the non-fungible asset tokens may be assigned a non-fungible asset class token to implement the classes attributes and functions based on the associated asset class token.
10 . The method of claim 4 , wherein the non-fungible token represents an asset that is a fund of assets and is assigned a fund asset class token in the asset registry.
11 . The method of claim 9 , wherein the asset associated with the non-fungible token is a fund and the assets respectively associated with the child tokens are non-fungible assets and/or fungible assets that are owned by the fund and the subset of the specified functions are operative to enumerate all child assets, add or remove child assets from the fund, and calculate a derived fund valuation based on the child assets in the fund at any specified time.
12 . The method of claim 10 , further comprising transferring at least one of the child token to the wallet associated with the fungible token in accordance with the asset ownership transfer functions, wherein the asset ownership transfer functions include at least one of a function for asset purchase, asset redemption, and asset ownership management.
13 . The method of claim 10 , wherein a smart contract monitors point-in-time capital inflow and outflows of the fund and creates an optimized balance of the assets owned by the fund by increasing or decreasing the price of one or more of the child tokens.
14 . The method of claim 8 , wherein all tokens of class can be upgraded at the same time by creating, updating, or removing attributes or functions associated with the class token.
15 . A system for configuring a data storage and retrieval system for managing data relating to tokenized assets, the system comprising:
at least one computer processor; and
at least one memory device having computer readable instructions stored thereon which, when executed by the at least one computer processer, cause the at least one computer processor to carry out the method comprising:
creating a digital token in accordance with a class definition, the token including a unique token identifier;
registering the digital token in association with an asset as a unique record in a memory device of an asset registry; and
associating a communication interface with the digital token in accordance with the class definition, wherein the communication interface is compliant with a communication specification implemented by the asset registry and which is configured to expose a set of predefined functions, wherein the predefined functions include asset ownership transfer functions, asset valuation publication functions, asset attribute determination functions and asset specific processing logic.
16 . The system of claim 15 , the method further comprising associating a cryptographic wallet with the digital token, whereby the wallet is configured to conduct token functions that are recorded in the asset registry.
17 . The system of claim 16 , wherein the asset ownership transfer functions include at least one of a Create Sell Order function, a Cancel Sell Order function an Accept Sell Order Function, a Create Purchase Order function, and Cancel Purchase Order Function, and Accept Purchase Order Function, and a Reject Purchase Order Function.
18 . The system of claim 16 , wherein the digital token is a non-fungible token and the asset is a non-fungible asset.
19 . The system of claim 18 , the method further comprising:
creating a fungible digital token;
associating a cryptographic wallet with the fungible digital token, whereby the wallet is configured to conduct token functions;
transferring ownership of the non-fungible digital token to the fungible digital token in order to wrap the non-fungible digital token with the fungible digital token and thereby enable fractional ownership of the asset represented by the non-fungible token including functions associated with shared ownership such as multi-party dividend distributions, corporate governance, and share trading.
20 . The system of claim 19 , the method further comprising associating a communication interface with the fungible digital token, wherein the communication interface is compliant with a communication specification and which is configured to expose a set of predefined functions, wherein the predefined functions include asset ownership transfer functions, asset valuation publication functions, asset attribute determination functions and asset specific processing logic.
21 . The system of claim 20 , wherein the non-fungible digital token represents a fund of assets and includes fund management functions.
22 . The system of claim 19 , wherein the fungible digital token is created in accordance with a token class definition, the fungible digital token including a unique token identifier.
23 . The system of claim 15 , the method further comprising:
creating a class registry consisting of asset classes each represented by a unique digital instrument or non-fungible token; and
wherein the non-fungible class token has a parent non-fungible class token, wherein the class of child tokens inherits the attributes and function of the parent class token; and
wherein the non-fungible asset tokens may be assigned a non-fungible asset class token to implement the classes attributes and functions based on the associated asset class token.
24 . The system of claim 20 , wherein the non-fungible token represents an asset that is a fund of assets and is assigned a fund asset class token in the asset registry.
25 . The system of claim 24 , wherein the asset associated with the non-fungible token is a fund and the assets respectively associated with the child tokens are non-fungible assets and/or fungible assets that are owned by the fund and the subset of the specified functions are operative to enumerate all child assets, add or remove child assets from the fund, and calculate a derived fund valuation based on the child assets in the fund at any specified time.
26 . The system of claim 24 , further comprising transferring at least one of the child token to the wallet associated with the fungible token in accordance with the asset ownership transfer functions, wherein the asset ownership transfer functions include at least one of a function for asset purchase, asset redemption, and asset ownership management.
27 . The method of claim 24 , wherein a smart contract monitors point-in-time capital inflow and outflows of the fund and creates an optimized balance of the assets owned by the fund by increasing or decreasing the price of one or more of the child tokens.
28 . The method of claim 22 , wherein all tokens of class can be upgraded at the same time by creating, updating, or removing attributes or functions associated with the class token.