System and method for blockchain-based network transitioned by a legal contract

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United States of America Patent

PATENT NO 11699201
APP PUB NO 20200357084A1
SERIAL NO

16761184

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Abstract

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A system and method for transitioning a distributed ledger network according to a legal contract that includes: establishing a contract, which comprises generating a set of programmable clauses for the contract by implementing a templating system comprised of a template model that contains the logic of each programmable clause of the set of programmable clauses; operating a distributed ledger network between participants, wherein the distributed ledger network is configured with an application model that maps to the template model; updating the contract state; updating the distributed ledger network according to the application model; in response to at least one update to the contract state, recording an update to the distributed ledger network; and in response to at least one contract-associated update in the distributed ledger network, initiating execution of at least one programmable clause of the contract and recording a subsequent update to the distributed ledger network.

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Patent Owner(s)

  • DOCUSIGN, INC.

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Hunn, Peter Geoffrey Lerato Irving, US 24 1005
Selman, Daniel Charles Winchester, GB 10 196
Simeon, Jerome New York, US 23 282

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