JP2021077321A - Securities management system and securities management method - Google Patents

Abstract

To provide a securities management system and a securities management method for smoothly and efficiently performing transaction of security tokens such as corporate bonds.SOLUTION: An issuance API 21 registers brand information on a distribution file base system 60 when receiving an issuance request of a security token C1 by an issuance authority of securities, and acquires identification information of the brand information from the distribution file base system 60. The issuance API 21 executes issuance processing of registering the security token including the identification information of the brand information on a block chain network BN1 by using a securities management contract D1. A buying and selling API 22 executes buying and selling processing of transferring the security token C1 to an investor with the settlement with a stable coin C2 registered on the block chain network BN1 and invested by the investor, and executes investment return processing for the investment return to the investor based on the security token.SELECTED DRAWING: Figure 3

Description

The present invention relates to a securities management system and a securities management method for managing securities such as electronic tokenized corporate bonds.

The company may issue corporate bonds for the purpose of raising funds. In addition, a system for buying, selling, settling, and clearing securities transactions using blockchain technology is also being studied (see, for example, Patent Document 1). In the technology described in Patent Document 1, securities transactions are carried out using a decentralized blockchain ledger. Specifically, the user is provided with a cryptographic wallet that can access the peer-to-peer network of the computing node in which the distributed blockchain ledger is managed. Securities available through the network are stored directly in the blockchain ledger itself. Smart contracts are used to transfer securities between users and verify that all transactions comply with applicable regulatory rules and other restrictions.

Special Table 2018-521437

When a company issues corporate bonds for individuals, it may include marketing purposes in addition to raising funds. Specifically, by having corporate bonds for individuals held, it is possible to form a channel with the company and develop a service that provides benefits and various information using the channel. However, corporate bonds have a limited degree of freedom in trading and have the following problems.

・ Abundant benefits are not provided for the face value, and opportunities to enjoy the service are limited.
・ When adding benefits, it is difficult to make small lots, and as a result, the number of creditors is limited.
・ The hurdles are high for those who are not so interested in investment because the liquidity of funds will drop.

The securities management system that solves the above problems includes an issuing API, a trading API, and a securities management contract, and manages securities tokens on a blockchain network. When the issuing API receives a request for issuance of a securities token by a securities issuing institution, the issue information is registered in the distributed file infrastructure system, the identification information of the issue information is acquired from the distributed file infrastructure system, and the issue is issued. The API uses the securities management contract to execute an issuance process for registering a securities token including identification information of the brand information on the blockchain network, and the trading API is registered on the blockchain network. , Executes the buying and selling process of transferring the securities token to the investor by settlement with the stable coin invested by the investor, and based on the securities token, performs the investment return process for investment return to the investor. Execute.

According to the present invention, securities tokens such as corporate bonds can be traded smoothly and efficiently.

Explanatory drawing of the securities management system of embodiment. Explanatory drawing of the hardware configuration of embodiment. The explanatory view of the relationship between the API of an embodiment and a blockchain network. It is explanatory drawing of the data recorded in the blockchain network of embodiment, (a) is a brand information, (b) is an explanatory diagram of an individual contract. Explanatory drawing of a securities token, a stable coin, and a colored coin of an embodiment. Explanatory drawing of the secondary market of embodiment. It is explanatory drawing of the processing procedure of embodiment, (a) is the preparation processing of a stable coin, (b) is explanatory drawing of the issuance processing of a securities token. It is explanatory drawing of the processing procedure of embodiment, (a) is the trading process of the securities token, (b) is explanatory drawing of the withdrawal processing of the securities token. The explanatory view of the processing procedure of interest payment / redemption processing of the securities token of an embodiment.

Hereinafter, an embodiment in which the securities management system and the securities management method are embodied will be described with reference to FIGS. 1 to 9. In the present embodiment, by issuing securities tokens obtained by digitizing securities (corporate bonds) on the blockchain network, ledger management is performed according to the characteristics of each securities without a central institution.

As shown in FIG. 1, an investor terminal 10, a management system 20, a securities company system 30, a bank system 40, an exchange system 50, a distributed file infrastructure system 60, and the like connected via a network are used. The management system 20, the securities company system 30, the banking system 40, the exchange system 50, and the distributed file infrastructure system 60 are blockchain networks used for trading encrypted currencies and tokens via API (Application Programming Interface). Connected to BN1.

(Hardware configuration)
The hardware configuration of the information processing apparatus H10 constituting the investor terminal 10 and the distributed file infrastructure system 60 will be described with reference to FIG. The information processing device H10 includes a communication device H11, an input device H12, a display device H13, a storage unit H14, and a processor H15. This hardware configuration is an example, and can be realized by other hardware.

The communication device H11 is an interface that establishes a communication path with another device and executes data transmission / reception, such as a network interface card or a wireless interface.

The input device H12 is a device that receives input from a user or the like, and is, for example, a mouse, a keyboard, or the like. The display device H13 is a display or the like that displays various information. The touch panel display and the like function as an input device H12 and a display device H13.

The storage unit H14 is a storage device that stores data and various programs for executing various functions of the investor terminal 10 and the distributed file infrastructure system 60. An example of the storage unit H14 is a ROM, a RAM, a hard disk, or the like.

The processor H15 controls each process in the investor terminal 10 to the distributed file infrastructure system 60 by using the programs and data stored in the storage unit H14. Examples of the processor H15 include a CPU, an MPU, and the like. The processor H15 expands a program stored in a ROM or the like into a RAM and executes various processes for each service.

The processor H15 is not limited to the one that performs software processing for all the processing executed by itself. For example, the processor H15 may include a dedicated hardware circuit (for example, an integrated circuit for a specific application: ASIC) that performs hardware processing for at least a part of the processing executed by the processor H15. That is, the processor H15 is (1) one or more processors that operate according to a computer program (software), (2) one or more dedicated hardware circuits that execute at least a part of various processes, or ( 3) It can be configured as a circuitry including a combination thereof. The processor includes a CPU and a memory such as a RAM and a ROM, and the memory stores a program code or an instruction configured to cause the CPU to execute a process. Memory or computer-readable media includes any available medium accessible by a general purpose or dedicated computer.

(System configuration)
Next, the functions of the blockchain network BN1 and the investor terminals 10 to the distributed file infrastructure system 60 will be described with reference to FIGS. 1 to 6.

As shown in FIG. 3, the securities management contract D1, the issue information D2, the individual contract D3, and the like are recorded in the blockchain network BN1. Further, cryptocurrency information related to the securities token C1, the stable coin C2, and the colored coin C3 is recorded in the blockchain network BN1.

In the securities management contract D1, common logic for handling tokens and coins (securities token C1, stable coin C2, colored coin C3) is described. Regarding the tax calculation for trading profit, the tax amount is calculated based on the transaction log outside the blockchain network BN1.

This securities management contract D1 manages the value transfer of tokens and coins. Therefore, the securities management contract D1 has the authority to transfer value. For example, at the time of interest payment, the authority to transfer value according to the amount of interest payment is granted. This authority is granted in advance for the required amount of value transfer before the time of value transfer.
Further, in the securities management contract D1, it is defined that the securities token C1 is issued and the amount procured by the stable coin C2 is remitted at the same time for the purpose of value transfer. Further, in the execution / settlement (T + 0 transaction) of a trading transaction, it is defined that the transfer of the securities token C1 and the remittance of the stable coin C2 are performed at the same time in order to execute the DVP (Delivery Versus Payment).
In addition, the securities management contract D1 is defined to return investment (interest payment, redemption, etc.) to investors at a predetermined time. For example, interest payment is defined so that the interest payment amount is calculated based on the stock information and position recorded in the securities token C1 and the stable coin C2 and the colored coin C3 are remitted. Regarding redemption, the redemption amount is calculated based on the stock information and position recorded in securities token C1, the position of securities token C1 is canceled, and stable coin C2 and colored coin C3 are remitted. Is defined in.

As shown in FIG. 3, the requests received in the issuing API 21, the trading API 22, the withdrawal API 23, the analysis API 24, and the fund preparation API 25 are supplied to the securities management contract D1. Here, when the security has its own rules, various functional logics are used. Then, the securities management contract D1 manages the securities token C1, the stable coin C2, and the colored coin C3.

As shown in FIG. 4A, the brand information D2 records an outline of each brand. The issue information D2 is generated based on the prospectus prepared at the time of issuance of corporate bonds and the like. Data related to the brand ID and issuance conditions are recorded in the brand information D2.

In the issue ID data area, data relating to an identifier (issuer, issue number, offering category, etc.) for identifying the issue of each security is recorded.

In the issuance condition data area, data on the issuance conditions of the securities to be offered (issue price, issue amount, interest rate, application period, interest payment (interest payment) method, redemption method, presence of collateral, financial special contract, etc.) Is recorded.

As shown in FIG. 4B, when the individual contract D3 has a unique function (unique transaction rule) different from that of the securities management contract D1 related to value transfer, this function is executed. The logic to do this is recorded. In the individual contract D3, unique logic is recorded for the individual ID and the transaction type.

In the individual ID data area, data regarding an identifier for identifying an individual contract is recorded.
In the transaction type data area, data regarding an identifier for identifying a transaction type using an individual contract is recorded in relation to value transfer. As the transaction type, for example, the transaction processing (investment refund processing) of the value transfer handled by the individual contract D3 includes reversal, interest payment, redemption and the like.
In the original logic data area, the logic for realizing the original function is recorded in this brand and transaction type.

Next, the securities token C1, the stable coin C2, and the colored coin C3 will be described with reference to FIG.

The securities token C1 is an electronic token of securities issued by an issuing company, and functions as a ledger management of securities. This securities token C1 is managed by one address on the blockchain network BN1 and is issued by the securities company at the request of the issuing company. Then, the position is changed in the trading market and transactions between securities companies. This securities token C1 can be settled by DVP using stable coin C2. In addition, the securities token C1 can be exchanged for colored coins C3 according to the brand. Data related to accounts, hash values, brand IDs, individual IDs, positions, etc. are recorded in the securities token C1.

In the account data area, data regarding an identifier for identifying the holder of the securities token C1 is recorded. Holders include securities companies and investors. The part (name, address) related to personal information is encrypted and stored in the distributed file infrastructure system 60.
In the hash value data area, data related to an identifier (identification information of brand information and personal information) for acquiring the information recorded in the distributed file infrastructure system 60 is recorded.

In the issue ID data area, data relating to an identifier for identifying the issue (issuing company, issue, etc.) of the securities token C1 is recorded.
In the individual ID data area, data regarding an identifier for specifying the unique logic in handling the securities token C1 is recorded. This individual ID is recorded when a unique function is set for this brand.
In the position data area, data regarding the holding amount (balance) in this account is recorded.

Stable coin C2 is a token equivalent to a currency (for example, yen currency, foreign currency, etc.) that can be used for general purposes on the blockchain network BN1. Stablecoin C2 is used as a settlement means for procurement, trading, principal and interest payment, etc. between investors, securities companies, and issuing companies. In this embodiment, a collateral type is assumed, and when the user makes a deposit from a bank account other than the issuer of stable coin C2 (for example, a bank), the transfer to the issuer of stable coin C2 is performed. Stable coin C2 is issued at the same time. Information on accounts, balances, etc. is recorded in this stable coin C2.
In the account data area, data regarding an identifier for identifying the holder who holds the stable coin C2 is recorded.
Data about the balance of this account is recorded in the balance data area.

Colored coin C3 is a unique currency that can be used by issuing companies. Unlike the stable coin C2, there are restrictions on versatility (available places, times, etc.). For example, it is treated like electronic money that can be used for a specific place / service, points in a point service, etc., and an investor can withdraw the balance of securities token C1 and convert it into a unique currency. An interface that works with existing electronic money outside the blockchain network BN1 will be provided for each unique currency via API.

Information on accounts, balances, restrictions, etc. is recorded in this colored coin C3.
In the account data area, data regarding an identifier for identifying the holder who holds the colored coin C3 is recorded.

In the balance data area, data regarding the balance accumulated in this account is recorded.
In the constraint data area, data regarding the usage conditions of the colored coin C3 is recorded.

The investor terminal 10 shown in FIG. 1 is a computer terminal used by an investor. In the present embodiment, the investor terminal 10 is used when accessing the management system 20 and the securities company system 30, and when cashing or withdrawing the securities token C1 held.

The management system 20 is a computer system that supports the trading of securities token C1. The management system 20 includes an issuing API 21, a trading API 22, a withdrawal API 23, an analysis API 24, a fund preparation API 25, a cashing API 26, an electronic money exchange API 27, and an interest payment / redemption batch 28 for supporting the trading of securities token C1.

The issuance API 21 is an application interface that accepts a request for issuing a securities token C1 and performs an issuance process of the securities token C1. The issuing API 21 is called by a securities company requested to issue securities by the issuing company. Then, the issuing API 21 issues the securities token C1 recorded in the blockchain network BN1 by using the securities management contract D1.

The trading API 22 is an application interface that accepts a trading request for securities token C1 and performs trading processing for securities token C1. This trading API 22 is called by a securities company requested to buy or sell securities token C1 by an investor or the like. Then, the trading API 22 transfers the securities token C1 recorded in the blockchain network BN1 by using the securities management contract D1.

The withdrawal API 23 is an application interface that accepts a withdrawal request for the securities token C1. This withdrawal API 23 is called by an investor or the like when the securities token C1 is withdrawn. Then, the withdrawal API 23 uses the securities management contract D1 to convert the securities token C1 recorded in the blockchain network BN1 into colored coins C3.

The analysis API 24 is an application interface for providing information on the securities token C1 to the regulatory agency. Analysis API 24 is called by banks and regulatory agencies. Then, the analysis API 24 creates reporting data based on the transaction status of the securities token C1 recorded in the blockchain network BN1 by using the securities management contract D1.
The fund preparation API 25 is an application interface for granting the authority to transfer the value of tokens and coins to the securities management contract D1. For example, the issuing company pays stable coin C2 to investors at the time of interest payment or redemption. Therefore, the issuing company has the authority to remit a specific balance of stable coin C2 to securities management contract D1 in advance so that the securities management contract D1 can remit stable coin C2 based on the timing information at the time of interest payment or redemption. Is used when delegating.

The cashing API 26 is an application interface that accepts a cashing request to stable coin C2. This cash API 26 is called by an issuing company, a securities company, an investor, or the like. The cashing API 26 that has received the cashing request requests the banking system 40 to redeem the securities token C1 based on cash payment, transfer, or the like. In this case, the banking system 40 converts to stable coin C2.

The electronic money exchange API 27 is an application interface that accepts an exchange request for existing electronic money for the colored coin C3. This electronic money exchange API 27 is called by the investor holding the securities token C1.

The interest payment / redemption batch 28 (investment return batch) is a timer that provides the securities management contract D1 with information on the investment return timing such as interest payment and redemption of the securities token C1.

The securities company system 30 is a computer system of a securities company that issues securities and trades.
The bank system 40 is a computer system of a bank that manages the stable coin C2.
The exchange system 50 is a computer system of an exchange that manages a market for buying and selling securities.

A market (secondary market) in which issued securities tokens C1 and the like are bought and sold among investors will be described with reference to FIG.
When the investor P1 trades the securities token C1, the securities company system 30 is used. In this case, the securities company system 30 uses the same wallet for the same investor.

Timestamps are important for order information for conducting transactions. Therefore, it is necessary to manage the order information in a timely manner so that the completion (blocking) of the transaction is not delayed. Therefore, in the present embodiment, apart from the blockchain network BN1 for token management that handles securities tokens C1 to colored coins C3, the blockchain network BN2 for ordering that registers order information such as limit order information and market order information ( Blockchain network for ordering) is used.

The exchange system 50 connected to the blockchain network BN2 manages the transaction of the securities token C1.
The exchange system 50 includes a storage unit 51, a market DB 52, a contract unit 53, and a market information API 54.

The storage unit 51 acquires limit order information and market order information registered in the blockchain network BN2.
The market DB 52 stores the order information acquired by the storage unit 51. In the blockchain network BN2, the storage unit 51 stores the order information included in the block in the market DB 52, triggered by the blocking of the order information.

The contract unit 53 matches the order information stored in the market DB 52 and determines the contract amount. Then, the contract unit 53 instructs the securities management contract D1 of the blockchain network BN1 to transfer the securities token C1 based on the contract result. Since the correctness of matching can be verified retroactively from the blockchain network BN1 that manages the position and the blockchain network BN2 that manages the order information, the matching is performed by the off-chain contract unit 53. There is no problem even if you do it.
The market information API 54 calculates a quote price or the like based on the order information stored in the market DB 52, and provides the information to the investor terminal 10 and the securities company system 30.

The distributed file infrastructure system 60 is a computer system (IPFS) that distributes and stores information stored in the blockchain network BN1. Information that is not used for settlement in brand information, but is used for risk management, for example, is stored in an unstructured data format such as JSON, and information that refers to the hash value on the distributed file infrastructure system 60 is stored in the securities token. It has tamper resistance by giving it to.

(Securities management method)
Next, the securities management method will be described with reference to FIGS. 7 to 9.
(Preparation process for stable coins)
First, the preparation process of the stable coin C2 required for securities trading will be described with reference to FIG. 7A.

Here, the cashing API 26 of the management system 20 executes the cashing request process (step S1-1). Specifically, when a securities company or an investor has no balance of stable coin C2, he / she accesses the management system 20 and sends a cashing request to the banking system 40 using the cashing API 26. This cashing request includes information on the requester information, the desired amount of stable coin C2, and the like. When using the account balance of the requester, include the information related to the account number as the requester information.

The banking system 40 executes the stable coin registration process (step S1-2). Specifically, the banking system 40 withdraws the desired acquisition amount from the account of the client (securities company, investor), and registers the stable coin C2 in which the client's account is set in the blockchain network BN1.

(Securities token issuance process)
Next, the securities token issuance process will be described with reference to FIG. 7 (b).
An issuing company wishing to issue securities prepares a prospectus and provides it to the securities company. The securities company accesses the issuing API 21 of the management system 20.

In this case, the issuing API 21 of the management system 20 executes the registration request processing of the brand information (step S2-1). Specifically, the issuing API 21 acquires a prospectus, acquires issuance conditions from the prospectus, and assigns a brand ID. Then, the issuing API 21 transmits a registration request for brand information to the distributed file infrastructure system 60. The issue information registration request includes the issue ID and issuance conditions obtained from the prospectus.

In this case, the distributed file infrastructure system 60 executes the brand information registration process (step S2-2). Specifically, the distributed file infrastructure system 60 stores the issue information including the issue ID and the issue condition acquired from the issue API 21.

Next, the distributed file infrastructure system 60 executes a hash value generation process (step S2-3). Specifically, the distributed file infrastructure system 60 generates a hash value based on the stored brand information. By using this hash value, brand information (content) can be acquired from the distributed file infrastructure system 60. Then, the distributed file infrastructure system 60 returns the generated hash value to the issuing API 21.

Next, the issuing API 21 of the management system 20 executes the registration request processing of the securities token (step S2-4). Specifically, the issuing API 21 transmits a request for registration of stock information to the securities management contract D1. The issue information registration request includes the issue ID, issuance conditions, and the hash value acquired from the distributed file infrastructure system 60.

The securities management contract D1 executes a securities token registration process (step S2-5). Specifically, the securities management contract D1 registers the issue information D2 including the issue ID and issuance conditions in the blockchain network BN1. Next, the securities management contract D1 issues a securities token C1 including an account, a hash value, a stock ID, and a position. An account of a securities company is set in the account data area of the securities token C1. In the position data area, the issuance amount agreed between the issuing company and the securities company and input via the issuing API 21 is set.

Next, the securities management contract D1 executes a link process with the individual contract (step S2-6). Specifically, the securities management contract D1 determines whether or not a unique function is set for handling securities. When it is determined that the unique function is set, the securities management contract D1 specifies the individual contract D3 corresponding to the unique function. Then, the securities management contract D1 sets the individual ID of the individual contract D3 in the securities token C1.

The securities management contract D1 executes the transfer process of stable coins (step S2-7). Specifically, the securities management contract D1 transfers the stable coin C2 of the securities company's account to the issuing company at the same time as the issuance of the securities token C1.

(Securities token trading process)
Next, the trading process of securities tokens (trading processing related to trading) will be described with reference to FIG. 8A. Here, it is assumed that the newly issued securities are acquired in the primary market where the investor purchases from the securities company.

An investor who wishes to make a transaction places a buy / sell order from the investor terminal 10 to the securities company system 30. This buy / sell order includes the stock ID of the desired trade, the buy / sell identification (information that identifies sell or buy), and the trading volume. The securities company system 30 accesses the trading API 22.

In this case, the trading API 22 of the management system 20 executes the transaction request processing of the securities token (step S3-1). Specifically, the trading API 22 acquires the stock ID, trading identification, and trading volume desired to be traded from the securities company system 30. Then, the trading API 22 transmits a transaction request to the securities management contract D1. This transaction request includes the issue ID, trading identification, and transaction volume acquired from the securities company system 30.

The securities management contract D1 executes the position change process of the securities token (step S3-2). Specifically, the securities management contract D1 transfers the securities token C1 of the account of the securities company to the account of the investor.

The securities management contract D1 executes the transfer process of stable coins (step S3-3). Specifically, the securities management contract D1 transfers the stable coin C2 of the investor's account to the account of the securities company.

When a transaction is made in the secondary market, the trading API 22 of the management system 20 acquires a transaction request including the contract result from the contract unit 53 of the exchange system 50. Then, in the same manner as described above, the securities management contract D1 executes the securities token position change process (step S3-2) and the stable coin transfer process (step S3-3).

(Reversal processing of securities tokens)
Next, the withdrawal process of the securities token will be described with reference to FIG. 8 (b). When the investor wishes to withdraw the securities token C1 held, he / she accesses the withdrawal API 23 using the investor terminal 10. Here, it is assumed that the securities token C1 is withdrawn and the colored coin C3 is provided, but the stable coin C2 may be provided.

In this case, the withdrawal API 23 of the management system 20 executes the withdrawal request processing of the securities token (step S4-1). Specifically, the withdrawal API 23 acquires an account, a brand ID, and a withdrawal amount from the investor terminal 10. Then, the withdrawal API 23 transmits a withdrawal request to the securities management contract D1. This withdrawal request includes the account, brand ID, and withdrawal amount acquired from the investor terminal 10.

The securities management contract D1 executes the position change process of the securities token (step S4-2). Specifically, the securities management contract D1 identifies the position of the securities token C1 of the investor's account associated with the issue ID. Then, the securities management contract D1 reduces the position of the securities token C1 held by the investor by registering the revocation information of the securities token C1 according to the amount of withdrawal in the blockchain network BN1.

Next, the securities management contract D1 executes a conversion process into original coins (step S4-3). Specifically, the securities management contract D1 identifies the colored coin C3 that can be converted by the issuing company. Then, the securities management contract D1 adds the colored coin C3 according to the amount of withdrawal to the investor's account.

Next, the securities management contract D1 executes the electronic money charge process (step S4-4). Specifically, when the investor wishes to exchange for existing electronic money, the securities management contract D1 records the revocation information of the colored coin C3. Then, the electronic money exchange API 27 provides the existing electronic money to the investor according to the expired amount of the expired colored coin C3.

(Interest payment / redemption processing of securities tokens)
Next, interest payment / redemption processing of securities tokens will be described with reference to FIG. This process is executed at a preset interest payment / redemption time for each securities.

The interest payment / redemption batch 28 of the management system 20 executes the timer information provision process (step S5-1). Specifically, the interest payment / redemption batch 28 supplies information on the timing of interest payment or redemption to the securities management contract D1.

In this case, the securities management contract D1 executes the interest payment / redemption determination process (step S5-2). Specifically, based on the timer information acquired from the interest payment / redemption batch 28, the interest payment or redemption is determined using the brand information D2.

When the interest payment time has come, the securities management contract D1 executes the interest payment process (step S5-3). Specifically, the securities management contract D1 calculates the interest amount of the securities token C1 remaining on the blockchain network BN1 according to the position using the stock information D2. If an individual ID is set in the securities token C1, the interest amount is calculated using the individual contract D3 of this individual ID. Then, the securities management contract D1 transfers the stable coin C2 for the interest amount to the account of the token holder on the blockchain network BN1.

Further, when the redemption time comes, the securities management contract D1 executes the extinction processing of the securities token (step S5-4). Specifically, the securities management contract D1 records the revocation information of the securities token C1 remaining on the blockchain network BN1.

The securities management contract D1 executes a stable coin transfer process (step S5-5). Specifically, the securities management contract D1 uses the stock information D2 to calculate the redemption amount of the securities token C1 in which the revocation information is recorded. If an individual ID is set in the securities token C1, the redemption amount is calculated using the individual contract D3 of this individual ID. Then, the securities management contract D1 transfers the stable coin C2 according to the redemption amount to the account of the token holder on the blockchain network BN1.

As described above, according to the present embodiment, the following effects can be obtained.
(1) In the present embodiment, a securities token obtained by digitizing securities (corporate bonds) is issued on the blockchain network. As a result, it is possible to manage the bond ledger without a central institution by taking advantage of the nature of the blockchain network that the ledger is dispersed and has high tamper resistance. System availability can be ensured by utilizing the blockchain network. In addition, since the transaction log is surely left, the audit can be facilitated.

(2) In the present embodiment, a securities management contract D1 for managing securities transactions is provided on the blockchain network BN1. As a result, both the securities token C1 which is the position information of the securities and the stable coin C2 which is the settlement means can be operated by the securities management contract D1, so that the DVP settlement in the contract / settlement (T + 0 transaction) of the trading transaction can be performed. It can be realized. Furthermore, the securities management contract D1 can express conditions such as transfer restrictions as a program, and can automate confirmation work and the like.

(3) In the present embodiment, when a unique function (unique transaction rule) different from the securities management contract D1 is set, the individual contract D3 is set in the blockchain network BN1. As a result, an optional function can be added to the securities management contract D1.

(4) In the present embodiment, the securities token C1 is exchanged for colored coin C3 linked with electronic money or a unique currency. Thereby, the colored coin C3 can be used to provide electronic money that can be used at a predetermined place and schedule (timing). Further, if an existing electronic money base exists, the issuing company can market through the securities token C1.

(5) In the present embodiment, in the blockchain network BN2, the order information included in this block is stored in the market DB 52, triggered by the blocking of the order information. As a result, it is possible to efficiently integrate complex information such as trading matching in contracts and provide information such as quotes by using an off-network database.

(6) In the present embodiment, the market information API 54 calculates a quote price or the like based on the order information stored in the market DB 52, and provides the information to the investor terminal 10 and the securities company system 30. This makes it possible to provide various information to securities companies and investors in a timely manner, unlike blockchain networks that require blocking.

This embodiment can be modified and implemented as follows. The present embodiment and the following modified examples can be implemented in combination with each other within a technically consistent range.
-In the above embodiment, the securities token is applied to the corporate bonds issued by the issuing company, but the application target of the securities token is not limited to the corporate bonds. It can be widely applied to securities including stocks, bonds, bills, checks, etc. Further, the present invention is not limited to securities, and can be applied to exchangeable property values (for example, game items) and the like.

-In the above embodiment, the tax amount for the trading profit is calculated based on the transaction log outside the blockchain network BN1. Instead, the securities management contract D1 may calculate the tax amount based on the transaction log and remit the stable coin after tax at the time of transaction.
-In the above embodiment, at the time of redemption, the securities management contract D1 executes a stable coin transfer process (step S5-5). Instead of this, it may be converted into colored coin C3 and redeemed.

-In the above embodiment, the individual contract D3 is recorded in the blockchain network BN1. In the individual contract D3, unique logic is recorded for the individual ID and the transaction type. In addition to this, the brand ID may be recorded in the individual contract D3. In this case, the individual contract D3 to be used at the time of transaction is specified by using the issue ID recorded in the securities token C1.

-In the above embodiment, the securities management contract D1 is defined to return investment (interest payment, redemption, etc.) to investors at a predetermined time. Investment returns are not limited to interest payments and redemptions. For example, the investment may be returned by granting a privilege token at a predetermined time. In this case, the securities management contract D1 is defined to calculate the award amount based on the stock information and the position recorded in the securities token C1 and to award the award token to the investor. As the award token, for example, a gift certificate of a product provided by a securities issuer such as an issuing company or an affiliated company, a service ticket, a membership card, or the like can be used. Bonus tokens (gift certificates, usage tickets, membership tickets, etc.) can be provided, for example, according to the ERC721 standard.

-In the above embodiment, the securities management contract D1 executes the conversion process to the original coin (step S4-3). Here, for issuing companies that have individual membership systems, added value such as improvement of membership status may be added. For example, for a user who is a member of the issuing company, the position (balance information) of the securities token is provided to the member management system of the issuing company. In this case, the member management system raises the status of the member user according to the position of the securities token.
In addition to the securities token position (balance information), the cumulative balance information of colored coin C3 provided to the user based on the investment return of the securities token (for example, the annual balance acquired) is provided. May be good. In this case, the issuing company grants the privilege to the user according to the accumulated balance information. In particular, an issuing company that does not have an individual membership system can grant benefits according to the accumulated balance information of colored coins C3 instead of its own coins.

10 ... Investor terminal, 20 ... Management system, 21 ... Issuance API, 22 ... Trading API, 23 ... Withdrawal API, 24 ... Analysis API, 25 ... Fund preparation API, 26 ... Cashing API, 27 ... Electronic money exchange API, 28 ... Interest payment / redemption batch, 30 ... Securities company system, 40 ... Bank system, 50 ... Exchange system, 60 ... Distributed file infrastructure system, D1 ... Securities management contract, D2 ... Stock information, D3 ... Individual contract, C1 ... Securities token, C2 ... stable coin, C3 ... colored coin, BN1, BN2 ... blockchain network.

Claims (12)

A securities management system that manages securities tokens on a blockchain network with issuance APIs, trading APIs, and securities management contracts.
When the issuing API receives a securities token issuance request from a securities issuing institution, the issue information is registered in the distributed file infrastructure system, and the identification information of the issue information is acquired from the distributed file infrastructure system.
The issuing API uses the securities management contract to execute an issuance process for registering a securities token including identification information of the issue information on the blockchain network.
The trading API is registered on the blockchain network, and the trading process of transferring the securities token to the investor is executed by settlement with the stable coin invested by the investor.
A securities management system characterized in that the securities management contract executes investment return processing for investment return to the investor based on the securities token. The securities management system according to claim 1, wherein in the investment return processing, the investment is returned to the investor based on the securities token according to the investment return timing defined in the stock information. Further equipped with a withdrawal API that accepts the investor's request for withdrawal of securities tokens
In the investment repayment process, the withdrawal API receives a request for withdrawal of the securities token of the investor, and the securities management contract makes an investment repayment for the withdrawal of the securities token. The securities management system according to item 1 or 2. The securities management system according to any one of claims 1 to 3, wherein in the investment return processing, either stable coins or colored coins on the blockchain network are given. The securities management system according to any one of claims 1 to 3, wherein in the investment return processing, the token is converted into a privilege token that can be used by the related institution of the issuing institution. The securities according to any one of claims 1 to 3, characterized in that, in the investment return processing, when the related institution of the issuing institution issues original coins, the coins are converted into the original coins. Management system. Any one of claims 1 to 6, wherein in the investment return processing, the related institution of the issuing institution provides the position information of the securities token of the investor in order to give the investor a privilege. The securities management system described in the section. Any of claims 1 to 7, wherein in the investment return processing, the related institution of the issuing institution provides the balance information of the colored coins given to the investor in order to give the investor a privilege. The securities management system described in item 1. The securities management contract
When the transaction processing related to the securities token is executed, if the securities token is associated with an individual contract recorded on the blockchain network, the transaction processing of the securities token is performed using the individual contract. Run and
When the transaction processing related to the securities token is executed, if the securities token is not associated with the individual contract, the transaction processing of the securities token is executed using the common logic held by the securities management contract. The securities management system according to any one of claims 1 to 8, characterized in that. The securities management system according to claim 9, wherein the individual contract includes a logic relating to value transfer relating to the securities token. In addition to the blockchain network that manages the securities tokens, an ordering blockchain network that records order information about the securities tokens is provided.
The securities token and stable coin registered on the blockchain network by the execution information executed by the securities management contract by matching the order information recorded in the ordering blockchain network performed by the exchange system. The securities management system according to any one of claims 1 to 9, wherein the position of the securities is changed. A method of managing securities tokens on a blockchain network using a securities management system equipped with issuing APIs, trading APIs, and securities management contracts.
When the issuing API receives a securities token issuance request from a securities issuing institution, the issue information is registered in the distributed file infrastructure system, and the identification information of the issue information is acquired from the distributed file infrastructure system.
The issuing API uses the securities management contract to execute an issuance process for registering a securities token including identification information of the issue information on the blockchain network.
The trading API is registered on the blockchain network, and the trading process of transferring the securities token to the investor is executed by settlement with the stable coin invested by the investor.
A securities management method, wherein the securities management contract executes an investment return process for investment return to the investor based on the securities token.

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