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Application US20200302527
Published 2020-09-24
Blockchain Smart Contracts For Employee Stock Option Tokens
Disclosed are systems and methods for generating a blockchain data structure for executing an employee stock ownership plan. The described system generates and deploys within a blockchain an employee stock ownership plan (ESOP) smart contract that is associated with a subset of equity tokens representing an equity stake of a company. The ESOP smart contract has program code for constructor functionality that creates a plurality of stock option tokens corresponding to the subset of the equity tokens in the first electronic wallet associated with the company, and code for transfer functionality that converts at least a portion of the stock option tokens in a second electronic wallet to a corresponding amount of equity tokens in accordance with one or more verification rules and checks.
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- 1. A method for generating a blockchain data structure for executing an employee stock ownership plan, the method comprising:
allocating a plurality of equity tokens to a first electronic wallet associated with a company, wherein each equity token represents a stake in equity in the company; generating a first transaction data structure storing an employee stock ownership plan (ESOP) smart contract module, wherein the ESOP smart contract module is associated with a subset of the plurality of equity tokens and comprises computer-executable instructions configured to:
execute, at a server-side node, constructor functionality that creates a plurality of stock option tokens corresponding to the subset of the equity tokens in the first electronic wallet associated with the company,
execute, at the server-side node, transfer functionality that converts at least a portion of the stock option tokens stored at a second electronic wallet to a corresponding amount of equity tokens; and
publishing the first transaction data structure storing the ESOP smart contract module to a decentralized ledger maintained by a network of server-side nodes.
- 11. A system for generating a blockchain data structure for executing an employee stock ownership plan, the system comprising:
a memory; and a hardware processor coupled to the memory and configured to:
allocate a plurality of equity tokens to a first electronic wallet associated with a company, wherein each equity token represents a stake in equity in the company;
generate a first transaction data structure storing an employee stock ownership plan (ESOP) smart contract module, wherein the ESOP smart contract module is associated with a subset of the plurality of equity tokens and comprises computer-executable instructions configured to:
execute, at a server-side node, constructor functionality that creates a plurality of stock option tokens corresponding to the subset of the equity tokens in the first electronic wallet associated with the company,
execute, at the server-side node, transfer functionality that converts at least a portion of the stock option tokens stored at a second electronic wallet to a corresponding amount of equity tokens; and
publish the first transaction data structure storing the ESOP smart contract module to a decentralized ledger maintained by a network of server-side nodes.
- 21. A non-transitory computer readable medium comprising computer-executable instructions for generating a blockchain data structure for executing an employee stock ownership plan, including instructions for:
allocating a plurality of equity tokens to a first electronic wallet associated with a company, wherein each equity token represents a stake in equity in the company; generating a first transaction data structure storing an employee stock ownership plan (ESOP) smart contract module, wherein the ESOP smart contract module is associated with a subset of the plurality of equity tokens and comprises computer-executable instructions configured to:
execute, at a server-side node, constructor functionality that creates a plurality of stock option tokens corresponding to the subset of the equity tokens in the first electronic wallet associated with the company,
execute, at the server-side node, transfer functionality that converts at least a portion of the stock option tokens stored at a second electronic wallet to a corresponding amount of equity tokens; and
publishing the first transaction data structure storing the ESOP smart contract module to a decentralized ledger maintained by a network of server-side nodes.
