IBM received patent to a new type of ‘self-controlled token’ that saves all transaction data and thus ensures full traceability of funds.
A patent describes a payment system based on a distributed register. The token is different because it absolutely records all the operations that are performed with it, even when they take place outside of internet platforms. When the token reconnects to the ecosystem, automatically recorded autonomous transaction data is uploaded.
According to the patent, this concept allows you to follow the entire lifecycle of tokens. Such data includes places of payments, transaction amounts, as well as all information about token holders. If a self-driven token was used for exchange with other digital assets, it also records their data, including the value in relation to another asset.
The token cannot store data itself, but it will write it to a personal device, for example to a telephone or laptop.
Such a system is useful for companies and authorities because it can confirm that the tokens have not been used for criminal activities, have been falsified or damaged. In the event of a dispute, you can find all the previous owners with tokens.