Method and system for blockchain-based gemstone ownership, identity, custody, supply-chain transfer, trading, and secure payments

US11074650B1 · kind B1 · utility

Inventors

• Vijay Madisetti · Johns Creek, US
• Arshdeep Bahga · Chandigarh, IN
• Jae Kim · Atlanta, US
• Avinash Rao · Amroli, IN

Key dates

• Filing date: Jun 22, 2018
• Grant date: Jul 27, 2021
• Expiry date: Jun 22, 2038

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2209/56
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A blockchain-based rough gemstone planning method including receiving a gemstone record including gemstone scan information and a smart contract, receiving a plurality of virtual derivative gemstones that may be derived from a gemstone associated with the received gemstone record and a plurality of virtual derivative gemstone records comprising meta-information about the virtual derivative gemstones, recording the plurality of virtual derivative gemstone records to a meta-information database, generating a plurality of derivative smart contracts associated with the plurality of virtual derivative gemstone records, sending the virtual derivative gemstone records and the derivative smart contracts, receiving price information for the plurality of virtual derivative gemstone records, and identifying a subset of the plurality of virtual derivative gemstone records that may be derived from the gemstone associated with received gemstone record responsive to the received price information received.