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System and Method for Software Asset Management Powered by Blockchain and Smart Contracts Disclosure Number: IPCOM000248083D
Publication Date: 2016-Oct-24
Document File: 5 page(s) / 87K

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The Prior Art Database


Disclosed is the capability to manage an asset during its entire lifecycle from acquisition to decommission, integrating multiple repositories through blockchain technologies.

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System and Method for Software Asset Management Powered by Blockchain and Smart Contracts

Existing software asset management processes (e.g., software tracking, software compliance, software metering, software license management, and software maintenance management) are fully fragmented and relay on multiple tools that do not communicate with each other. An asset management solution might be built by

different applications provided by different vendors. Additionally, fragmentation and lack of communication might lead to duplicate, often conflicting, data between tools, which

can lead to a slowed response time to clients and low confidence in the accuracy ratio of software asset management reports. This complex scenario demands several analysts manage these problems and perform a series of manual and repeated activities to mitigate the challenges.

The number of resources and time required to provide asset management services influences a company's performance and client satisfaction. In the area of asset management, clients' complaints are related to data accuracy, asset management costs, and response time.

The novel contribution is a method and system to optimize asset management operation by reducing the number of manual activities currently in place. The method replaces current manual activities with an autonomous system. Automatic data analysis

automatically updates the data repositories for all data sources currently in use for asset management services. The method accelerates response time, which improves

client satisfaction.

The novel autonomous software asset management system relies on blockchain technologies and smart contracts to manage the end-to-end software lifecycle, licenses, and maintenance contracts. This method reduces the complexity of multiple fragmented and duplicated data sources, and encodes business processes inside smart contracts. The level of autonomy is customized depending on the business rules and the level of non-intervention that is desired for a particular enterprise or industry. The system holds complete provenance details of each part. The data is fully accessible to each participant in the process: owners, administrators, maintainers, and auditors.

The novel system comprises three different systems/technologies to create a unique solution:

• Extract and analyze existing data from multiple configuration management databases (CMDB) that are in place

• Consolidate all extracted data into one single integrated operational center, creating a centralized view of the whole system

• Create a blockchain Business Network along with smart contracts encoding business processes and rules to produce an autonomous system

Separately, these three systems do not represent an innovation; however, in


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combination combined these three systems might represent a radical transformation in how software is managed across the world. This system enables an organization to manage all smart contracts und...