Researchers Submit Patent Application, “Trade Settlement System, Trade Settlement Method, And Trade Settlement Program”, for Approval (USPTO 20220292467): Tokio Marine & Nichido Fire Insurance Co. Ltd.

2022 SEP 30 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- From Washington, D.C., NewsRx journalists report that a patent application by the inventor SHINYA, Tetsunosuke (Tokyo, Japan), filed on August 14, 2019, was made available online on September 15, 2022.

The patent’s assignee is Tokio Marine & Nichido Fire Insurance Co. Ltd. (Tokyo, Japan).

News editors obtained the following quote from the background information supplied by the inventors: “Patent Literature 1 describes a technology in which “Upon receipt of a letter-of-credit issuance instruction, a transaction code is set, a record is stored in a trade transaction DB, and a letter-of-credit issuance request including the transaction code is transmitted. Upon receipt of this request, a trade transaction server sets a bank management code, and transmits a letter-of-credit issuance report including the bank management code together with the transaction code included in the request. Upon receipt of the letter-of-credit issuance report, the bank management code included in the report is stored in a record of the trade transaction DB that includes the transaction code included in the report. When bill-of-lading data has been generated, the trade transaction server adds the bank management code to the bill-of-lading data, and transmits the bill-of-lading data. Upon receipt of the bill-of-lading data, a record is stored in the bill-of-lading DB in association with a record of the trade transaction DB that includes the bank management code included in the bill-of-lading data.””

As a supplement to the background information on this patent application, NewsRx correspondents also obtained the inventor’s summary information for this patent application: “SUMMARY:

“Technical Problem

“In the technology described above, data relating to trade transactions can be managed, but the simultaneous fulfillment of obligations fails to be guaranteed.

“In trade transactions for which sale and purchase parties are present in remote places, obligations are not simultaneously fulfilled, and the sale and purchase parties have a risk of default of the counterparty. Accordingly, it is an object of the present invention to provide a technology for guaranteeing the simultaneous fulfillment of obligations in trade transactions.

“Solution to Problem

“The present invention includes a plurality of solutions to at least some of the problems described above, and examples of the plurality of solutions are described below. A trade settlement system in one aspect of the present invention is a trade settlement system that uses one or more computers, in which each of the one or more computers includes, for a bilateral contract including both obligations of a change of name from one party to another party of contract parties, the change of name accompanying a transfer of ownership of an article to be sold or purchased in a trade, and settlement using predetermined electronic money for a consideration relating to the sale and purchase: a settlement processing unit that performs the settlement by using a smart contract on a blockchain; and a processing unit that processes the change of name by using the smart contract on the blockchain, in a case where the settlement has been successful.

“In the trade settlement system described above, processing of the change of name may include processing for changing a name of an owner of a predetermined shipping document including at least a bill of lading relating to the article.

“In the trade settlement system described above, the predetermined shipping document may be configured as blockchain data.

“In the trade settlement system described above, the settlement may include settlement that includes payment using electronic currency between a plurality of parties concerned according to trade terms.

“In the trade settlement system described above, the settlement may include settlement that includes processing for paying freight of the trade to a carrier according to the trade terms by using the electronic currency.

“In the trade settlement system described above, the settlement may include settlement that includes processing for paying a cargo marine premium relating to the trade to an insurer according to the trade terms by using the electronic currency.

“In the trade settlement system described above, the settlement may include settlement that includes payment using virtual currency.

“In the trade settlement system described above, each of a shipper node, a consignee node, and a carrier node may be configured by the one or more computers, the shipper node serving as a node of a shipper of the trade, the consignee node serving as a node of a consignee of the trade, the carrier node serving as a node of a carrier of the trade. The settlement processing unit of the consignee node may perform the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node. The processing unit of the carrier node may process the change of name by changing a name of a predetermined shipping document from the shipper to the consignee, the predetermined shipping document including a bill of lading relating to the article to be sold or purchased in the trade.

“In the trade settlement system described above, each of a shipper node, a consignee node, and a carrier node may be configured by the one or more computers, the shipper node serving as a node of a shipper of the trade, the consignee node serving as a node of a consignee of the trade, the carrier node serving as a node of a carrier of the trade. The settlement processing unit of the consignee node may perform the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node. The settlement processing unit of the shipper node may perform the settlement by remitting freight of the trade to the settlement processing unit of the carrier node. The processing unit of the carrier node may process the change of name by changing a name of a predetermined shipping document from the shipper to the consignee, the predetermined shipping document including a bill of lading of the article to be sold or purchased in the trade.

“In the trade settlement system described above, each of a shipper node, a consignee node, and a carrier node may be configured by the one or more computers, the shipper node serving as a node of a shipper of the trade, the consignee node serving as a node of a consignee of the trade, the carrier node serving as a node of a carrier of the trade. The settlement processing unit of the consignee node may perform the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, and may perform the settlement by remitting freight of the trade to the settlement processing unit of the carrier node. The processing unit of the carrier node may process the change of name by changing a name of a predetermined shipping document from the shipper to the consignee, the predetermined shipping document including a bill of lading of the article to be sold or purchased in the trade.

“In the trade settlement system described above, an insurer node may be configured by the one or more computers, the insurer node serving as a node of an insurer of the trade. The settlement processing unit of the shipper node may perform the settlement by remitting the freight of the trade to the settlement processing unit of the carrier node, and remitting a cargo marine premium of the trade to the settlement processing unit of the insurer node.

“In the trade settlement system described above, an insurer node may be configured by the one or more computers, the insurer node serving as a node of an insurer of the trade. The settlement processing unit of the consignee node may perform the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, and remitting a cargo marine premium of the trade to the settlement processing unit of the insurer node.

“In the trade settlement system described above, an insurer node may be configured by the one or more computers, the insurer node serving as a node of an insurer of the trade. The settlement processing unit of the consignee node may perform the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, may perform the settlement by remitting the freight of the trade to the settlement processing unit of the carrier node, and may perform the settlement by remitting a cargo marine premium of the trade to the settlement processing unit of the insurer node.

“A trade settlement method in another aspect of the present invention is a trade settlement method that uses one or more computers. Each of the one or more computers performs, for a bilateral contract including both obligations of a change of name from one party to another party of contract parties, the change of name accompanying a transfer of ownership of an article to be sold or purchased in a trade, and settlement using predetermined electronic money for a consideration relating to the sale and purchase: a settlement processing step of performing the settlement by using a smart contract on a blockchain; and a processing step of processing the change of name by using the smart contract on the blockchain, in a case where the settlement has been successful.

“A trade settlement program in another aspect of the present invention is a trade settlement program that uses one or more computers. The trade settlement program causes each of the one or more computers to perform, for a bilateral contract including both obligations of a change of name from one party to another party of contract parties, the change of name accompanying a transfer of ownership of an article to be sold or purchased in a trade, and settlement using predetermined electronic money for a consideration relating to the sale and purchase: a settlement processing step of performing the settlement by using a smart contract on a blockchain; and a processing step of processing the change of name by using the smart contract on the blockchain, in a case where the settlement has been successful.

“Advantageous Effects of Invention

“In trade transactions for which sale and purchase parties are present in remote places, obligations are not simultaneously fulfilled, and the sale and purchase parties have a risk of default of the counterparty. According to the present invention, a technology for guaranteeing the simultaneous fulfillment of obligations in trade transactions can be provided.

“Problems, configurations, and effects that are different from the above will be clarified by the description provided below of embodiments.”

The claims supplied by the inventors are:

“1. A trade settlement system that uses one or more computers, wherein each of the one or more computers includes, for a bilateral contract including both obligations of a change of name from one party to another party of contract parties, the change of name accompanying a transfer of ownership of an article to be sold or purchased in a trade, and settlement using predetermined electronic money for a consideration relating to the sale and purchase: a settlement processing unit that performs the settlement by using a smart contract on a blockchain; and a processing unit that processes the change of name by using the smart contract on the blockchain, in a case where the settlement has been successful; and a processing of the change of name includes processing for changing a name of an owner of blockchain data of a predetermined shipping document including at least a bill of lading relating to the article.

“2. (canceled)

“3. (canceled)

“4. The trade settlement system according to claim 1, wherein the settlement includes settlement that includes payment using electronic currency between a plurality of parties concerned according to trade terms.

“5. The trade settlement system according to claim 4, wherein the settlement includes settlement that includes processing for paying freight of the trade to a carrier according to the trade terms by using the electronic currency.

“6. The trade settlement system according to claim 4, wherein the settlement includes settlement that includes processing for paying a cargo marine premium relating to the trade to an insurer according to the trade terms by using the electronic currency.

“7. The trade settlement system according to claim 1, wherein the settlement includes settlement that includes payment using virtual currency.

“8. The trade settlement system according to claim 1, wherein each of a shipper node, a consignee node, and a carrier node is configured by the one or more computers, the shipper node serving as a node of a shipper of the trade, the consignee node serving as a node of a consignee of the trade, the carrier node serving as a node of a carrier of the trade, the settlement processing unit of the consignee node performs the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, and the processing unit of the carrier node processes the change of name by changing a name of a predetermined shipping document from the shipper to the consignee, the predetermined shipping document including a bill of lading relating to the article to be sold or purchased in the trade.

“9. The trade settlement system according to claim 1, wherein each of a shipper node, a consignee node, and a carrier node is configured by the one or more computers, the shipper node serving as a node of a shipper of the trade, the consignee node serving as a node of a consignee of the trade, the carrier node serving as a node of a carrier of the trade, the settlement processing unit of the consignee node performs the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, the settlement processing unit of the shipper node performs the settlement by remitting freight of the trade to the settlement processing unit of the carrier node, and the processing unit of the carrier node processes the change of name by changing a name of a predetermined shipping document from the shipper to the consignee, the predetermined shipping document including a bill of lading of the article to be sold or purchased in the trade.

“10. The trade settlement system according to claim 1, wherein each of a shipper node, a consignee node, and a carrier node is configured by the one or more computers, the shipper node serving as a node of a shipper of the trade, the consignee node serving as a node of a consignee of the trade, the carrier node serving as a node of a carrier of the trade, the settlement processing unit of the consignee node performs the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, and performs the settlement by remitting freight of the trade to the settlement processing unit of the carrier node, and the processing unit of the carrier node processes the change of name by changing a name of a predetermined shipping document from the shipper to the consignee, the predetermined shipping document including a bill of lading of the article to be sold or purchased in the trade.

“11. The trade settlement system according to claim 9, wherein an insurer node is configured by the one or more computers, the insurer node serving as a node of an insurer of the trade, and the settlement processing unit of the shipper node performs the settlement by remitting the freight of the trade to the settlement processing unit of the carrier node, and remitting a cargo marine premium of the trade to the settlement processing unit of the insurer node.

“12. The trade settlement system according to claim 9, wherein an insurer node is configured by the one or more computers, the insurer node serving as a node of an insurer of the trade, and the settlement processing unit of the consignee node performs the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, and remitting a cargo marine premium of the trade to the settlement processing unit of the insurer node.

“13. The trade settlement system according to claim 10, wherein an insurer node is configured by the one or more computers, the insurer node serving as a node of an insurer of the trade, and the settlement processing unit of the consignee node performs the settlement by remitting the consideration relating to the sale and purchase of the article to the settlement processing unit of the shipper node, performs the settlement by remitting the freight of the trade to the settlement processing unit of the carrier node, and performs the settlement by remitting a cargo marine premium of the trade to the settlement processing unit of the insurer node.

“14. A trade settlement method that uses one or more computers, wherein each of the one or more computers performs, for a bilateral contract including both obligations of a change of name from one party to another party of contract parties, the change of name accompanying a transfer of ownership of an article to be sold or purchased in a trade, and settlement using predetermined electronic money for a consideration relating to the sale and purchase: a settlement processing step of performing the settlement by using a smart contract on a blockchain; and a processing step of processing the change of name by using the smart contract on the blockchain, in a case where the settlement has been successful; and a processing of the change of name includes processing for changing a name of an owner of blockchain data of a predetermined shipping document including at least a bill of lading relating to the article.

“15. (canceled)”

For additional information on this patent application, see: SHINYA, Tetsunosuke. Trade Settlement System, Trade Settlement Method, And Trade Settlement Program. Filed August 14, 2019 and posted September 15, 2022. Patent URL: https://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220220292467%22.PGNR.&OS=DN/20220292467&RS=DN/20220292467

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