Description:BACKGROUND
Field of Invention
[001] Embodiments of the present invention generally relate to a reward system and particularly to a blockchain based reward system and a method thereof.
Description of Related Art
[002] Blockchain is a method of storing data that makes it challenging or impossible to update, hack, or defraud the system. A blockchain is simply a digital record of transactions that is replicated and distributed throughout blockchain's complete network of computer systems. Blockchain has found its applications in multiple streams of computer sciences, such as financial transactions, credential verification, authentication and authorization, data security, and so forth. Additionally, using blockchain, users can receive and redeem loyalty tokens that are interoperable across multiple programs. These tokens never expire or lose value, unlike traditional reward points.
[003] However, this rewarding system is very concentrated on computer science streams and is not diversified in other sectors. Multi-millionaire organizations who are deemed for their notorious activities can be regarded by rewards using blockchain and in return, they could be demanded for abolishing their malpractices. This rewarding system can also be implemented in educational institutions, such that good-performing or economically weaker students shall be rewarded with monetary help which could only be redeemed against educational benefits.
[004] There is thus a need for an improved and advanced blockchain based reward system that can administer the aforementioned limitations in a more efficient manner.
SUMMARY
[005] Embodiments in accordance with the present invention provide a blockchain based reward system. The system comprising: a processor located on an application server. The system further comprising: a storage medium comprising programming instructions executable by the processor. The storage medium comprises: an entity registration module configured to: enable an entity to register on a reward application by paying a registration fee and by providing entity details; and generate an entity identifier based on the provided entity details; an activity monitoring module configured to monitor activities of the entity by examining a database, wherein the activities are referred as conditions; a comparison module configured to compare the monitored conditions of the entity with a set of conditions mentioned in a smart contract issued to the corresponding entity; a reward generation module configured to generate a reward for the entity by using a blockchain technology, when at least one of, the monitored conditions satisfies the conditions mentioned in the smart contract issued to the entity, wherein a value of the reward depends upon a number of the satisfied conditions mentioned in the smart contract; and a data updating module configured to update information associated with the generated rewards on a blockchain network.
[006] Embodiments in accordance with the present invention further provide a method for rewarding an entity using a blockchain technology. The method comprising steps of: enabling the entity to register on a reward application by paying a registration fee and by providing entity details; generating an entity identifier based on the provided entity details; monitoring activities of the entity by examining a database, wherein the activities are referred to as conditions; comparing the monitored conditions of the entity with a set of conditions mentioned in a smart contract issued to the corresponding entity; generating a reward for the entity by using the blockchain technology, when at least one of the monitored conditions satisfies the conditions mentioned in the smart contract issued to the entity, wherein a value of the reward depends upon a number of the satisfied conditions mentioned in the smart contract; and updating information associated with the generated rewards on a blockchain network.
[007] Embodiments of the present invention may provide a number of advantages depending on their particular configuration. First, embodiments of the present application may provide a blockchain based reward system.
[008] Next, embodiments of the present application may provide a blockchain based reward system that inspires and appreciates others by rewarding them.
[009] These and other advantages will be apparent from the present application of the embodiments described herein.
[0010] The preceding is a simplified summary to provide an understanding of some embodiments of the present invention. This summary is neither an extensive nor exhaustive overview of the present invention and its various embodiments. The summary presents selected concepts of the embodiments of the present invention in a simplified form as an introduction to the more detailed description presented below. As will be appreciated, other embodiments of the present invention are possible utilizing, alone or in combination, one or more of the features set forth above or described in detail below.
BRIEF DESCRIPTION OF THE DRAWINGS
[0011] The above and still further features and advantages of embodiments of the present invention will become apparent upon consideration of the following detailed description of embodiments thereof, especially when taken in conjunction with the accompanying drawings, and wherein:
[0012] FIG. 1A illustrates a blockchain based reward system, according to an embodiment of the present invention;
[0013] FIG. 1B illustrates a smart contract of the blockchain based reward system, according to an embodiment of the present invention;
[0014] FIG. 1C illustrates an operation of the smart contract of the blockchain based reward system, according to an embodiment of the present invention; and
[0015] FIG. 2 depicts a flowchart of a method for rewarding an entity using a blockchain technology, according to an embodiment of the present invention.
[0016] The headings used herein are for organizational purposes only and are not meant to be used to limit the scope of the description or the claims. As used throughout this application, the word "may" is used in a permissive sense (i.e., meaning having the potential to), rather than the mandatory sense (i.e., meaning must). Similarly, the words “include”, “including”, and “includes” mean including but not limited to. To facilitate understanding, like reference numerals have been used, where possible, to designate like elements common to the figures. Optional portions of the figures may be illustrated using dashed or dotted lines, unless the context of usage indicates otherwise.
DETAILED DESCRIPTION
[0017] The following description includes the preferred best mode of one embodiment of the present invention. It will be clear from this description of the invention that the invention is not limited to these illustrated embodiments but that the invention also includes a variety of modifications and embodiments thereto. Therefore, the present description should be seen as illustrative and not limiting. While the invention is susceptible to various modifications and alternative constructions, it should be understood, that there is no intention to limit the invention to the specific form disclosed, but, on the contrary, the invention is to cover all modifications, alternative constructions, and equivalents falling within the scope of the invention as defined in the claims.
[0018] In any embodiment described herein, the open-ended terms "comprising", "comprises”, and the like (which are synonymous with "including", "having” and "characterized by") may be replaced by the respective partially closed phrases "consisting essentially of", “consists essentially of", and the like or the respective closed phrases "consisting of", "consists of”, the like.
[0019] As used herein, the singular forms “a”, “an”, and “the” designate both the singular and the plural, unless expressly stated to designate the singular only.
[0020] FIG. 1A illustrates a blockchain based reward system 100 (hereinafter referred to as the system 100), according to an embodiment of the present invention. In an embodiment of the present invention, the system 100 may check activities of an entity, and reward them. According to embodiments of the present invention, the rewards may be, but not limited to, cryptocurrencies, reputed project deals, certifications, felicitations, and so forth. Embodiments of the present invention are intended to include or otherwise cover any rewards that may be rewarded by the system 100 to the entity, including known, related art, and/or later developed technologies. According to embodiments of the present invention, the entity may be, but not limited to, an individual, an organization, a company, an operating body, and so forth. Embodiments of the present invention are intended to include or otherwise cover any entity.
[0021] According to embodiments of the present invention, the activities that may be performed by the individual may be, but not limited to, recycling, donation for an environmental cause, usage of pollution-free vehicles, plantation of gardens, organic farming, reducing energy consumption, and so forth. Embodiments of the present invention are intended to include or otherwise cover any activities that may be performed by the individual. According to embodiments of the present invention, the activities that may be performed by the organization may be, but not limited to, using eco-friendly products, reducing an emission of harmful gases, following principles of reduce-reuse-recycle, choosing greener infrastructure, spreading awareness, and so forth. Embodiments of the present invention are intended to include or otherwise cover any activities that may be performed by the organization, including known, related art, and/or later developed technologies.
[0022] According to an embodiment of the present invention, the system 100 may comprise a user device 102, a reward application 104, a database 106, an application server 108, a processor 110, and a storage medium 112.
[0023] In an embodiment of the present invention, the user device 102 may be a device used by the entity to provide an external input to the system 100. The external input may be the activities that may be performed by the entity. The user device 102 may further be configured with a blockchain wallet that may enable the entity to view and redeem the rewards, in an embodiment of the present invention.
[0024] The user device 102 may be, but not limited to, a personal computer, a consumer device, and alike. Embodiments of the present invention are intended to include or otherwise cover any type of the user device 102 including known, related art, and/or later developed technologies. In an embodiment of the present invention, the personal computer may be, but not limited to, a desktop, a server, a laptop, and alike. Embodiments of the present invention are intended to include or otherwise cover any type of the personal computer including known, related art, and/or later developed technologies.
[0025] Further, in an embodiment of the present invention, the consumer device may be, but not limited to, a tablet, a mobile phone, a notebook, a netbook, a smartphone, a wearable device, and so forth. Embodiments of the present invention are intended to include or otherwise cover any type of the consumer device including known, related art, and/or later developed technologies.
[0026] According to an embodiment of the present invention, the user device 102 may comprise software applications such as, but not limited to, a healthcare application, a medical consultation application, an emergency services application, and the like. In a preferred embodiment of the present invention, the user device 102 may comprise the reward application 104 that may be a computer-readable program installed in the user device 102 for executing functions associated with the system 100.
[0027] In an embodiment of the present invention, the database 106 may store the external input provided by the entity. The database 106 may further store a smart contract that may be issued to the entity, in an embodiment of the present invention. In an embodiment of the present invention, the smart contract may mention the activity (as a set of conditions) which may further be compared with the activities in the external input for rewarding the entity. The activities in the external input may be referred to as conditions. According to embodiments of the present invention, the database 106 may be for example, but not limited to, a distributed database, a personal database, an end-user database, a commercial database, a Structured Query Language (SQL) database, a non-SQL database, an operational database, a relational database, an object-oriented database, a graph database, a cloud server database, and so forth. Embodiments of the present invention are intended to include or otherwise cover any type of the database 106 including known, related art, and/or later developed technologies.
[0028] Further, the database 106 may be stored in a cloud server, in an embodiment of the present invention. In an embodiment of the present invention, the cloud server may be remotely located. In an exemplary embodiment of the present invention, the cloud server may be a public cloud server. In another exemplary embodiment of the present invention, the cloud server may be a private cloud server. In yet another embodiment of the present invention, the cloud server may be a dedicated cloud server. According to embodiments of the present invention, the cloud server may be, but not limited to, a Microsoft Azure cloud server, an Amazon AWS cloud server, a Google Compute Engine (GEC) cloud server, an Amazon Elastic Compute Cloud (EC2) cloud server, and so forth. Embodiments of the present invention are intended to include or otherwise cover any type of the cloud server including known, related art, and/or later developed technologies.
[0029] In an embodiment of the present invention, the application server 108 may be a hardware on which the processor 110 may be installed. According to embodiments of the present invention, the application server 108 may be, but not limited to, a motherboard, a wired board, a mainframe, and so forth. Embodiments of the present invention are intended to include or otherwise cover any type of the application server 108, including known, related art, and/or later developed technologies.
[0030] In an embodiment of the present invention, the processor 110 may be located on the application server 108. The processor 110 may be configured to execute computer-executable instructions to generate an output relating to the system 100. According to embodiments of the present invention, the processor 110 may be, but not limited to, a Programmable Logic Control (PLC) unit, a microprocessor, a development board, and so forth. Embodiments of the present invention are intended to include or otherwise cover any type of the processor 110 including known, related art, and/or later developed technologies.
[0031] In an embodiment of the present invention, the storage medium 112 may store computer programmable instructions in form of programming modules. The storage medium 112 may be a non-transitory storage medium, in an embodiment of the present invention. The storage medium 112 may communicate with the processor 110 and execute a computer-readable set of instructions present in the storage medium 112, in an embodiment of the present invention.
[0032] According to embodiments of the present invention, the storage medium 112 may be, but not limited to, a Random-Access Memory (RAM), a Static Random-access Memory (SRAM), a Dynamic Random-access Memory (DRAM), a Read Only Memory (ROM), an Erasable Programmable Read-only Memory (EPROM), an Electrically Erasable Programmable Read-only Memory (EEPROM), a NAND Flash, a Secure Digital (SD) memory, a cache memory, a Hard Disk Drive (HDD), a Solid-State Drive (SSD) and so forth. Embodiments of the present invention are intended to include or otherwise cover any type of the storage medium 112, including known, related art, and/or later developed technologies. In an embodiment of the present invention, the storage medium 112 further comprises an entity registration module 114, an activity monitoring module 116, a comparison module 118, a reward generation module 120, and a data updating module 122.
[0033] In an embodiment of the present invention, the entity registration module 114 may be configured to enable the entity to register on the reward application 104 by paying a registration fee and by providing entity details. According to embodiments of the present invention, the entity details provided by the entity may be, but not limited to, a name of the entity, a working domain of the entity, a login credentials of the entity, a blockchain wallet identifier of the entity, and so forth. Embodiments of the present invention are intended to include or otherwise cover any entity details that may be provided by the entity while registering on the reward application 104, including known, related art, and/or later developed technologies.
[0034] Further, the entity registration module 114 may be configured to generate an entity identifier based on the provided entity details. The entity identifier may be unique for every entity, in an embodiment of the present invention. In an embodiment of the present invention, the entity identifier may be a combination of characters. According to embodiments of the present invention, the characters in the entity identifier may be, but not limited to, a numeric character, an alphabetic character, a special character, and so forth. Embodiments of the present invention are intended to include or otherwise cover any combination of characters in the entity identifier generated by the entity registration module 114, including known, related art, and/or later developed technologies.
[0035] In an embodiment of the present invention, the activity monitoring module 116 may be configured to monitor the activities of the entity by examining the database 106. The activity monitoring module 116 may monitor the activities of the entity by examining the external input provided by the entity, in an embodiment of the present invention. In an embodiment of the present invention, the activities provided by the entity in the external input may be referred to as conditions. The activity monitoring module 116 may further be configured to transmit the conditions to the comparison module 118, in an embodiment of the present invention.
[0036] In an embodiment of the present invention, the comparison module 118 may be configured to compare the received conditions with a set of conditions mentioned in the smart contract issued to the corresponding entity. Upon comparison, if at least one of, the received conditions are matched with the set of conditions mentioned in the smart contract issued to the corresponding entity, then the comparison module 118 may generate and transmit a reward generation signal to the reward generation module 120. Else, the comparison module 118 may continue to receive the conditions from the activity monitoring module 116.
[0037] In an embodiment of the present invention, the reward generation module 120 may be configured to generate the reward for the entity by using the blockchain technology. The reward generation module 120 may generate the reward based on the received reward generation signal, in an embodiment of the present invention. In an embodiment of the present invention, a value of the reward depends upon a number of the satisfied conditions mentioned in the smart contract. In an embodiment of the present invention, the reward generated by the reward generation module 120 may be credited to the blockchain wallet through the reward application 104.
[0038] In an embodiment of the present invention, the data updating module 122 may be configured to update an information associated with the generated rewards on a blockchain network. The information associated with the generated rewards may be updated on the blockchain network by making a transaction, in an embodiment of the present invention. In an embodiment of the present invention, every transaction for the generated rewards may undergo a process of tokenization. The process of tokenization may update every authorized transaction onto each node of the blockchain network, in an embodiment of the present invention. In case of a failure of a node, other nodes from the blockchain network may account for the credibility of rewards that may be generated and credited in the blockchain wallet of the entity.
[0039] FIG. 1B illustrates the smart contract of the system 100, according to an embodiment of the present invention. In an embodiment of the present invention, the smart contract may be a digital ledger that may be issued to the entity. The smart contract may comprise all the conditions for which the corresponding entity may be rewarded, in an embodiment of the present invention. In an embodiment of the present invention, every transaction carried out by the data updating module 122 of the system 100 may be updated in the smart contract as well. A piece of information cannot be modified once updated in the smart contract, in an embodiment of the present invention. In an embodiment of the present invention, the smart contract may further select the reward that may be rewarded to the entity. The smart contract issued to the entity may be unique and one of a kind for the corresponding entity, in an embodiment of the present invention. In an embodiment of the present invention, no two entities can have a similar/same smart contract.
[0040] FIG. 1C illustrates an operation of the smart contract of the system 100, according to an embodiment of the present invention. In an embodiment of the present invention, the activities of the entity that may be provided as the external input to the system 100 may be checked for a response condition. The response condition may state a quality and a quantity of the reward to be rewarded to the entity. After completion of the rewarding process, a set of predefined details may be updated onto the blockchain network for making the transaction. According to embodiments of the present invention, the set of predefined details that may be updated onto the blockchain network may be, but not limited to, the quality of reward rewarded to the corresponding entity, the quantity of the reward rewarded to the corresponding entity, the activity of the entity for which the reward may be rewarded, and so forth. Embodiments of the present invention are intended to include or otherwise cover any details that may be updated onto the blockchain network, including known, related art, and/or later developed technologies.
[0041] Further, the activities in the external input may be set for automatic execution upon meeting the response condition. The automatic execution may be enabled by using a state machine. The state machine may be a programming language solidity. Further, the state machine may enable the blockchain network to evaluate their nodes by executing run time compilers for evaluation.
[0042] FIG. 2 depicts a flowchart of a method 200 for rewarding the entity using the blockchain technology, according to an embodiment of the present invention.
[0043] At step 202, the system 100 may enable the entity to register on the reward application 104 by paying the registration fee and by providing the entity details.
[0044] At step 204, the system 100 may generate the entity identifier based on the provided entity details.
[0045] At step 206, the system 100 may monitor the activities of the entity by examining the database 106. The activities are referred to as the conditions.
[0046] At step 208, the system 100 may compare the monitored conditions of the entity with the set of conditions mentioned in the smart contract issued to the corresponding entity. If at least one of, the monitored conditions satisfies the conditions mentioned in the smart contract issued to the entity, then the method 200 may proceed to a step 210. Else the method 200 may return to the step 206.
[0047] At the step 210, the system 100 may generate the reward for the entity by using the blockchain technology.
[0048] At step 212, the system 100 may update the information associated with the generated rewards on the blockchain network by making an irreversible transaction.
[0049] While the invention has been described in connection with what is presently considered to be the most practical and various embodiments, it is to be understood that the invention is not to be limited to the disclosed embodiments, but on the contrary, is intended to cover various modifications and equivalent arrangements included within the scope of the appended claims.
[0050] This written description uses examples to disclose the invention, including the best mode, and also to enable any person skilled in the art to practice the invention, including making and using any devices or systems and performing any incorporated methods. The patentable scope of the invention is defined in the claims, and may include other examples that occur to those skilled in the art. Such other examples are intended to be within the scope of the claims if they have structural elements that do not differ from the literal language of the claims, or if they include equivalent structural elements within substantial differences from the literal languages of the claims. , Claims:CLAIMS
I/We Claim:
1. A blockchain based reward system (100), the system (100) comprising:
a processor (110) located on an application server (108); and
a storage medium (112) comprising programming instructions executable by the processor (110), wherein the storage medium (112) comprises:
an entity registration module (114) configured to:
enable an entity to register on a reward application (104) by paying a registration fee and by providing entity details; and
generate an entity identifier based on the provided entity details;
an activity monitoring module (116) configured to monitor activities of the entity by examining a database (106), wherein the activities are referred to as conditions;
a comparison module (118) configured to compare the monitored conditions of the entity with a set of conditions mentioned in a smart contract issued to the corresponding entity;
a reward generation module (120) configured to generate a reward for the entity by using a blockchain technology, when at least one of the monitored conditions satisfies the conditions mentioned in the smart contract issued to the entity, wherein a value of the reward depends upon a number of the satisfied conditions mentioned in the smart contract; and
a data updating module (122) configured to update information associated with the generated rewards on a blockchain network.
2. The system (100) as claimed in claim 1, wherein the information associated with the generated rewards is updated on the blockchain network by making a transaction.
3. The system (100) as claimed in claim 1, wherein the generated rewards are credited to a blockchain wallet through the reward application (104).
4. The system (100) as claimed in claim 3, wherein the generated rewards are selected from cryptocurrencies, reputed project deals, certifications, felicitations, or a combination thereof.
5. The system (100) as claimed in claim 1, wherein the entity is selected from an individual, an organization, a company, an operating body, or a combination thereof.
6. A method of rewarding an entity using a blockchain technology, the method comprising steps of:
enabling the entity to register on a reward application (104) by paying a registration fee and by providing entity details;
generating an entity identifier based on the provided entity details;
monitoring activities of the entity by examining a database (106), wherein the activities are referred to as conditions;
comparing the monitored conditions of the entity with a set of conditions mentioned in a smart contract issued to the corresponding entity;
generating a reward for the entity by using a blockchain technology, when at least one of the monitored conditions satisfies the conditions mentioned in the smart contract issued to the entity, wherein a value of the reward depends upon a number of the satisfied conditions mentioned in the smart contract; and
updating information associated with the generated rewards on a blockchain network.
7. The method as claimed in claim 6, wherein the information associated with the generated rewards is updated on the blockchain network by making a transaction.
8. The method as claimed in claim 6, wherein the generated rewards are credited to a blockchain wallet through the reward application (104).
9. The method as claimed in claim 8, wherein the generated rewards are selected from cryptocurrencies, reputed project deals, certifications, felicitations, or a combination thereof.
10. The method as claimed in claim 6, wherein the entity is selected from an individual, an organization, a company, an operating body, or a combination thereof.

Date: September 04, 2023
Place: Noida

Nainsi Rastogi
Patent Agent (IN/PA-2372)
Agent for the Applicant