IP Library Granted Patent US 11,797,986
Granted Patent B2
US 11,797,986 · App. 17/817,863 · Granted Oct 24, 2023

Smart contract optimization for multiparty services and product offerings including derivatives

Inventors: Vijay Madisetti (Johns Creek, GA); Arshdeep Bahga (Chandigarh, IN)
G06Q20/389G06Q20/381H04L9/3236H04L9/3268H04L9/50H04L2209/56
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Quick Facts
Patent No.
US 11,797,986
App. No.
17/817,863
Granted
Oct 24, 2023
Kind
B2
Abstract

A smart contract architecture for optimizing smart contracts for ordering of multiparty offerings including a primary smart contract, one or more business logic smart contracts, a global interface smart contract including smart contract functions, a global data smart contract, and a tracker smart contract. The primary smart contract includes blockchain addresses for each of the global data smart contract, the global interface smart contract, and the tracker smart contract. The smart contract functions are operable to trigger enforcement of a term comprised by a business logic smart contract. Enforcement of a term included in a business logic smart contract changes data comprised by the global data smart contract.

Claims (86)

1. A computer system for implementing a smart contract architecture for optimizing smart contracts for ordering of multiparty offerings comprising:

a processor;

a network communication device; and

a non-transitory memory device having stored thereon operable to implement on a blockchain network:

a primary smart contract comprising an interface with which a user may interact;

a plurality of business logic smart contracts deployed on a blockchain and configured to enforce a plurality of terms of an agreement related to a multiparty offering;

a global interface smart contract deployed on the blockchain comprising:

blockchain addresses for each of the business logic smart contracts; and

one or more smart contract functions performable by a user via the primary smart contract to interact with the business logic smart contract;

a global data smart contract deployed on the blockchain comprising data from the primary smart contract and the plurality of business logic smart contracts; and

a tracker smart contract deployed on the blockchain comprising tracked updates to each of the primary smart contract, the global data smart contract, and the global interface smart contract;

wherein the primary smart contract comprises blockchain addresses for each of the global data smart contract, the global interface smart contract, and the tracker smart contract;

wherein the smart contract functions are operable to trigger enforcement of a term comprised by a business logic smart contract; and

wherein enforcement of a term comprised by a business logic smart contract updates data comprised by the global data smart contract.

2. The computer system of claim 1 wherein the primary smart contract and at least one of the global data smart contract, the global interface smart contract, and the tracker smart contract are comprised by a single smart contract deployed on the blockchain.

3. The computer system of claim 1 wherein:

the plurality of business logic smart contracts comprises a first business logic smart contract and a second business logic smart contract; and

enforcement of a term comprised by the second business logic smart contract triggers enforcement of a term comprised by the first business logic smart contract.

4. The computer system of claim 1 wherein the one or more smart contract functions performable by a user to interact with the business logic smart contract are accessible by the user via the primary smart contract.

5. The computer system of claim 1 wherein at least one business logic smart contract of the plurality of business logic smart contracts is an interest rate swap contract.

6. The computer system of claim 5 wherein:

a first business logic smart contract of the plurality of business logic smart contracts is a first interest rate swap contract comprising a first set of terms between a first party and a second party; and

a second business logic smart contract of the plurality of business logic smart contracts is a second interest rate swap contract comprising a second set of terms between a third party and the second party.

7. The computer system of claim 6 wherein the second set of terms are not identical to the first set of terms.

8. The computer system of claim 5 wherein:

a first business logic smart contract of the plurality of business logic smart contracts is a first interest rate swap contract between a first party and a second party;

a second business logic smart contract of the plurality of business logic smart contracts is a second interest rate swap contract between the first party and a third party; and

a third business logic smart contract of the plurality of business logic smart contracts is a third interest rate swap contract between a fourth party and the second party; and

the first business logic smart contract is split into the second and third business logic smart contracts.

9. The computer system of claim 1 wherein a first business logic smart contract of the plurality of business logic smart contracts references a second business logic smart contract of the plurality of business logic smart contracts.

10. A computer system for implementing a smart contract architecture for optimizing smart contracts for ordering of multiparty offerings comprising:

a processor;

a network communication device; and

a non-transitory memory device having stored thereon operable to implement on a blockchain network:

a primary smart contract;

a first business logic smart contract deployed on a blockchain and configured to enforce a first term of an agreement related to a multiparty offering;

a second business logic smart contract deployed on a blockchain and configured to enforce a second term of an agreement related to a multiparty offering;

a global interface smart contract deployed on the blockchain comprising:

blockchain addresses for each of the first and second business logic smart contracts; and

one or more smart contract functions performable by a user to interact with the first and second business logic smart contracts;

a global data smart contract deployed on the blockchain comprising data from the primary smart contract and the first and second business logic smart contracts; and

a tracker smart contract deployed on the blockchain comprising tracked updates to each of the primary smart contract, the global data smart contract, and the global interface smart contract;

wherein the primary smart contract comprises blockchain addresses for each of the global data smart contract, the global interface smart contract, and the tracker smart contract;

wherein the smart contract functions are operable to trigger enforcement of a term comprised by at least one of the first and second business logic smart contracts;

wherein enforcement of either of the first term or the second term updates data comprised by the global data smart contract;

wherein enforcement of a term comprised by the second business logic smart contract triggers enforcement of a term comprised by the first business logic smart contract; and

wherein the one or more smart contract functions performable by a user to interact with the business logic smart contract are accessible by the user via the primary smart contract.

11. The computer system of claim 10 wherein the primary smart contract and at least one of the global data smart contract, the global interface smart contract, and the tracker smart contract are comprised by a single smart contract deployed on the blockchain.

12. The computer system of claim 9 wherein at least one of the first and second business logic smart contracts is an interest rate swap contract.

13. The computer system of claim 12 wherein:

the first business logic smart contract is a first interest rate swap contract comprising a first set of terms between a first party and a second party; and

the second business logic smart contract is a second interest rate swap contract comprising a second set of terms between a third party and the second party.

14. The computer system of claim 13 wherein the second set of terms are not identical to the first set of terms.

15. The computer system of claim 10 wherein:

the first business logic smart contract is a first interest rate swap contract between a first party and a second party;

the second business logic smart contract is a second interest rate swap contract between the first party and a third party;

the smart contract architecture further comprises a third business logic smart contract, the third business logic smart contract being a third interest rate swap contract between a fourth party and the second party; and

the first business logic smart contract is split into the second and third business logic smart contracts.

16. A computer system for implementing a smart contract architecture for optimizing smart contracts for ordering of multiparty offerings comprising:

a processor;

a network communication device; and

a non-transitory memory device having stored thereon operable to implement on a blockchain network:

a primary smart contract;

a plurality of business logic smart contracts deployed on a blockchain and configured to enforce a plurality of terms of an agreement related to a multiparty offering;

a global interface smart contract deployed on the blockchain comprising:

blockchain addresses for each of the business logic smart contracts; and

one or more smart contract functions performable by a user to interact with the business logic smart contract;

a global data smart contract deployed on the blockchain comprising data from the primary smart contract and the plurality of business logic smart contracts; and

a tracker smart contract deployed on the blockchain comprising tracked updates to each of the primary smart contract, the global data smart contract, and the global interface smart contract;

wherein the primary smart contract comprises blockchain addresses for each of the global data smart contract, the global interface smart contract, and the tracker smart contract;

wherein the smart contract functions are operable to trigger enforcement of a term comprised by a business logic smart contract;

wherein enforcement of a term comprised by a business logic smart contract updates data comprised by the global data smart contract;

wherein at least one business logic smart contract of the plurality of business logic smart contracts is an interest rate swap contract; and

wherein the one or more smart contract functions performable by a user to interact with the business logic smart contract are accessible by the user via the primary smart contract.

17. The computer system of claim 16 wherein:

the plurality of business logic smart contracts comprises a first business logic smart contract and a second business logic smart contract; and

enforcement of a term comprised by the second business logic smart contract triggers enforcement of a term comprised by the first business logic smart contract.

18. The computer system of claim 16 wherein:

a first business logic smart contract of the plurality of business logic smart contracts is a first interest rate swap contract comprising a first set of terms between a first party and a second party; and

a second business logic smart contract of the plurality of business logic smart contracts is a second interest rate swap contract comprising a second set of terms between a third party and the second party.

19. The computer system of claim 18 wherein the second set of terms are not identical to the first set of terms.

20. The computer system of claim 16 wherein:

a first business logic smart contract of the plurality of business logic smart contracts is a first interest rate swap contract between a first party and a second party;

a second business logic smart contract of the plurality of business logic smart contracts is a second interest rate swap contract between the first party and a third party; and

a third business logic smart contract of the plurality of business logic smart contracts is a third interest rate swap contract between a fourth party and the second party; and

the first business logic smart contract is split into the second and third business logic smart contracts.

Assignments (2)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Mar 18, 2026
From: MADISETTI, VIJAY
To: VM INNOVATIONS I, LLC
Reel/Frame 075116/0289 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Aug 16, 2022
From: BAHGA, ARSHDEEP
To: MADISETTI, VIJAY
Reel/Frame 060822/0789 →
Continuity (7)
Continuation 17647776 · Jan 12, 2022
Continuation In Part 16744231 · Jan 16, 2020
Division 16396845 · Apr 29, 2019
Division 15976910 · May 11, 2018
Provisional Application 62818798 · Mar 15, 2019
Provisional Application 62652341 · Apr 4, 2018
Related Publication 20230029008A1 · Jan 26, 2023