IBM patents offline token for blockchain in a patent filing in the US. The patent describes the use of a “self-aware” token that records transactions offline and syncs up with the blockchain once it regains internet access. The entire process of offline token and blockchain integration is included in patent file. This is a potential game changer and IBM seems to be in the lead.
What is a Self Aware token?
A token file is received from an e-Commerce platform having a veracity grade capability. An off-line transaction is made using the token which records events of the transaction. Subsequently, the token re-enters the e-Currency platform and transfers the recorded off-line events. The platform rebuilds the token’s past state based upon the state of nearby tokens and the recorded events, so that additional transactions can be rated, including a veracity grade.
A computer implemented method for handling a self-aware token, comprising the steps of: receiving, on a memory device that is external to an e-Currency platform, a token file of a token from the e-Currency platform, said platform having a processor; performing a transaction involving said token file, wherein the transaction is off-line with respect to the e-Currency platform; in an off-line state with respect to the e-Currency platform, recording events of said off-line transaction in said token file on said memory device that is external to the e-Currency platform; transferring the recorded events into said e-Currency platform; and using said processor, estimating by said e-Currency platform, a price value of said token based upon an average estimated price value of nearby tokens in said platform and the recorded events, wherein the nearby tokens are other tokens that are of a same e-Currency type of said token and are associated with said token as a function of sharing data within an environment that is selected from the group consisting of an applied restrictions environment and a service privacy environment.
In one aspect of this disclosure, a computer-implemented method for tracking tokens is disclosed. A plurality of e-Currency token types is defined in memory. A life cycle of a tracked e-Currency token is tracked, the tracked e-Currency token being of an e-Currency token type that is one of the defined plurality of e-Currency token types. The tracking is done by receiving an indication that the tracked e-Currency token has been used in a transaction, and recording a value for the tracked e-Currency token as measured against another asset (not necessarily of common origin) involved in the transaction. Multiple recorded values for the tracked e-Currency token are aggregated. A price of the e-Currency token type is graded based on at least the aggregated recorded values for the tracked e-Currency token.
A user of the computer implemented method may take a token off-line. Subsequently, the user may engage in an off-line transaction involving the token. The off-line transaction may take place in a conventional, physical, brick and mortar store. Alternatively, the off-line transaction may be performed electronically using a workstation or portable device logging on to an independent or stand-alone financial or e-Commerce system which is not connected or in communication with the platform.