JP2023074472A - Information processing device and program - Google Patents

Abstract

PROBLEM TO BE SOLVED: To provide an information processing device configured to acquire digitized securities and transfer them between investors, capable of transferring rights of securities through a simple procedure, and with the transfer of the rights, determining relation of the rights related to the transfer between an obligor and other third party by creating a certificate to perfect the requirements for the transfer of the securities against a third party.

SOLUTION: Securities, etc. are converted into small-lot securities, and all procedures from sales to redemptions are completed online. In particular, when the small-lot securities are transferred between investors, procedures necessary to perfect requirements for the transfer of the securities against third party are also completed online. An information processing device can thus simplify procedures for buying and selling digitized securities, and implement transfer of rights perfecting the requirements against the third party, between investors. Consequently, the information processing device can provide investors with an unparalleled flexible and safe investment recovery opportunity so as to attract active investments.

SELECTED DRAWING: Figure 2

COPYRIGHT: (C)2023,JPO&INPIT

Description

The present invention is a technology related to the transfer of securities or investment interests (hereinafter referred to as "securities, etc.") backed by assets such as real estate. related to a technology for creating a digital certificate equivalent to a certificate with a fixed date and time when claiming third party perfection requirements.

With the development of networks, crowdfunding has emerged in which an unspecified number of people provide financial resources and cooperate with other people and organizations via the Internet. Although this is sometimes called social lending in a narrow sense, it is referred to as "crowdfunding" or "fund" in this specification.

These days, by using crowdfunding, fundraising is actively carried out to collect funds for loans to corporations and funds for purchasing assets such as real estate from general investors. In particular, real estate investment crowdfunding has been attracting attention in recent years. This is because after the enactment of the Asset Securitization Law, the so-called SPC (Special Purpose Company) Law, enacted in 1998, the 2001 revision made all property rights subject to securitization receivables. A large impact. It became clear that everything with asset value would be subject to securitization, including real estate.

Real estate securitization is a mechanism that makes it easier for general investors to invest in real estate by securitizing the right to receive income generated by actual real estate, especially by making it small (reducing the amount of money that can be invested). Through real estate securitization, each investor invests in securitized real estate properties (office buildings, rental apartments, distribution centers, etc.) without owning real real estate or investing a large amount of money. As a result, it became possible to enjoy rental income and sales profits generated by real estate properties. As a system related to real estate securitization, for example, there is Patent Document 1 below. The device described in Patent Literature 1 is characterized by presenting effective information regarding real estate securitization products to investors.

By the way, in recent years, there has been a growing movement to electronically record the occurrence and transfer of rights indicated on securities by utilizing distributed ledger technology such as blockchain (for example, Patent Document 2 below). . Tokens (certificates) generated and issued by blockchain technology, etc., in which the rights indicated on such securities are indicated are generally called security tokens or digital securities, and are sold through private or public offerings. This is called a Security Token Offering (STO). For real estate retail securities, this distributed ledger technology is used to tokenize investors' equity interests, provide a scheme for transferring tokens between investors, and transfer rights to tokens that occur at any time. It has become technically possible to manage by rewriting the distributed ledger.

Japanese Patent No. 5831989 Japanese Patent No. 6895567

As the digital securitization of securities becomes more active in the future, one of the concerns is the double transfer of digital securities. Taking digital securities backed by real estate (hereinafter simply referred to as "real estate securities") as an example, in a situation where investor A, who wants to transfer a small-lot real estate security, has only one equity stake. , and after transferring the equity to investor B, investor A further transfers it to third party investor C.

Article 467 of the Civil Code stipulates the requirements for perfecting the assignment of a nominative claim for the purpose of ensuring the security of transactions, and the assignor must notify the obligor or the obligor must consent to the assignment of the nominee claim. , cannot be asserted against the obligor or any other third party, and this notice or consent cannot be asserted against a third party other than the obligor unless it is made in a document with a fixed date. I am trying to settle the issue.

Notifications or approvals for third-party perfection requirements stipulated by the Civil Code must be made by certified mail or notarized deed (where a notary public places a dated seal on a private document) However, it is practically impossible to incorporate existing procedures such as content-certified mail directly into the system to be developed. Also, even if you can acquire or transfer digitized real estate securities (tokens) on the development system, if you need procedures such as content-certified mail at the stage of fulfilling third party requirements, you will end up with a series of procedures can no longer be completed online, and the benefits of digitization will be diminished at once. Furthermore, in view of the troublesomeness of preparations such as content-certified mail, it is undeniable that there may be a transferee who does not meet the requirements for perfection against a third party due to omissions or errors in the content of the description. conflict risk remains.

Therefore, the present invention provides an information processing device that acquires digitized securities and transfers them between investors. The purpose is to enable the transfer of securities rights through a simple procedure and to establish the rights relationship related to the transfer with the obligor or other third party along with the transfer of rights.

An information processing device according to the present invention for achieving the above object is a right related to a business based on a partnership contract, and a right subdivision means for digitally dividing the right into two or more units; Obligee registration means for registering obligee information and the number of units of the right held by the obligee; and assignment request receiving means for accepting a transfer request for the right from the registered obligee via a communication line. , the transfer request includes identification information specifying the right and the number of shares to be transferred, and is an application screen for soliciting the transfer of the right, wherein the person who wishes to transfer the right specifies the identification information of the right to be transferred and the number of shares to be transferred. A decentralized system including a block chain for transfer information indicating that the number of transferees of the right specified by the applicant for transfer is transferred from the obligee to the applicant for transfer. Distributed ledger recording means for recording on a ledger, and a notice indicating that the obligor consents to the transfer of the right, the obligee who is the transferor of the right or the transfer applicant who is the transferee of the right wherein, when the notification is displayed, it is possible to assert against a third party against the transfer of the right. and

Further, in the information processing apparatus according to the present invention, the notification includes a digital address of a digital certificate, which is an electromagnetic document containing the transfer information recorded by the distributed ledger recording means, and the obligee or the further comprising a digital certificate display means for displaying the transfer information and the obligor's acceptance of the transfer of the rights in response to access to the digital address by the transferee; In addition to the notification, it further includes obligee notification means for notifying the transfer information from the obligee or the transfer applicant acting as an agent or messenger of the obligee to the obligor, and It is not sent until the set time, and after that time has passed, it is automatically or manually posted on the viewing screen page of each of the obligee who is the party to the transfer of the right and the person who wishes to transfer the right, and the distributed ledger record A means records the transfer information in the distributed ledger, and the digital certificate is capable of being provided to at least one of the creditor, the debtor, or the applicant.

Further, the transfer information includes identification information that identifies the obligee of the rights to be transferred and the applicant for the transfer, information that identifies the rights to be transferred, transfer price, number of transfer units, and transfer of the rights. It is characterized by including at least the date and time accepted by the debtor.

The information processing device according to the present invention digitally divides the securities, etc. pertaining to the rights related to the business based on the partnership agreement, converts them into small-lot securitizations, and completes all the procedures online from the sale to the redemption. can be done. In particular, when the retail securities are transferred between investors, the present invention also includes the procedures necessary to fulfill the third party protection requirements for the assignment of claims (including the transfer of the contractual status in the partnership agreement). It can be completed online by such an information processing apparatus.

This simplifies the procedures for buying and selling digital securities, and enables the transfer of rights between investors with third-party protection requirements. As a result, it will be possible to provide investors with a flexible and safe investment recovery opportunity that cannot be compared with the past, leading to attracting active investment.

1 is a diagram showing an outline of an overall scheme including an embodiment of an information processing device according to the present invention; FIG. It is a figure which shows the outline of the function with which an information processing apparatus is provided. FIG. 10 is a flow chart showing a processing procedure of the information processing device until an investor can start transferring retail securities; FIG. 4 is a diagram showing an example of a screen displayed in the processing shown in FIG. 3; FIG. 4 is a diagram showing an example of a screen displayed in the processing shown in FIG. 3; FIG. 4 is a diagram showing an example of a screen displayed in the processing shown in FIG. 3; FIG. FIG. 10 is a flow chart showing a processing procedure of an information processing device when a retail securities is transferred between investors; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG. 6 is a diagram showing an example of a screen displayed in the process shown in FIG. 5; FIG.

An embodiment of processing executed by an information processing apparatus according to the present invention will be described below with reference to the drawings. The information processing apparatus in this embodiment will be described as a securities management apparatus 100 that performs online processing of procedures from acquisition to redemption of securities or the like backed by actual real estate. Although shown as "apparatus", it can be replaced with "system" or "server".
In the following explanation, investors include not only individuals (natural persons) but also corporations and qualified institutional investors. A Qualified Institutional Investor is defined in Article 2, Paragraph 3, Item 1 of the Financial Instruments and Exchange Act as a person designated by a Cabinet Office Ordinance as having expert knowledge and experience in investing in securities. . They are so-called professional investors, such as securities companies, investment trust brokers, banks, insurance companies, investment advisory companies, and pension funds.
In the present embodiment, a security or the like backed by actual real estate is taken up, but it does not necessarily have to be a real estate security.

FIG. 1 shows an overview of the overall scheme including the securities management device 100 according to this embodiment. As shown in FIG. 1, a special purpose company 1 concludes a silent partnership contract with an investor 2, and then acquires real estate 3 from a real estate owner based on capital contributions collected from the investor 2. . After that, it is assumed that the special purpose company 1 distributes to the investors 2 the profit (rent and profit on sale) obtained from the act of leasing or selling the target real estate 3 . Therefore, regarding the claims arising from the silent partnership contract, the investor 2 is the obligee and the special purpose company 1 is the obligor.
Here, the "silent partnership contract" is the silent partnership contract described in Article 2, Paragraph 2, Item 5 of the Financial Instruments and Exchange Act in this embodiment, and the "special purpose company" is a real estate specified joint enterprise. It means a “special business operator” as defined in Article 58 of the Law.

Securities management device 100 performs investor registration, management, and profit distribution by special purpose company 1 . Since the securities management device 100 completes all procedures online, it is communicably connected to the investor terminal of the investor 2 via a communication line such as the Internet. It should be noted that the special purpose company 1 entrusts a part of operations such as sales and management to a predetermined consignment company 4 .
As will be described later, the securities management device 100 records and manages information based on distributed ledger technology represented by blockchain. Each investor's silent partnership equity interest is granted in the form of security tokens (hereinafter sometimes abbreviated as "ST") generated and issued by distributed ledger technology.

To summarize, the securities management device 100 establishes a special purpose company 1 and an investor 2 at the time when a predetermined total investment amount is collected from the investor 2 (at the time when the fund is established in the case of crowdfunding). After tokenizing the equity interest based on the silent partnership contract between the two using the blockchain platform, tokens are issued, and this security token is sent to each investor's individual wallet according to the investment ratio of each investor. relocate. In addition, if there is a transfer of security tokens between investors during the operation period, the security tokens will be directly transferred between the wallets of the parties. At the end of the operation, the security tokens in the wallet of the investor 2 are transferred to the wallet managed by the special purpose company 1 at the same time as the redemption money is paid.

A specific description of the securities management device 100 will be given below. FIG. 2 shows an outline of the functions provided in the securities management device 100. As shown in FIG. The securities management device 100 is mainly divided into a business management section 10 , a front section 20 and a block chain section 30 .

The business management unit 10 includes at least a property management function 11 , an input/output management function 12 , an investor management function 13 , an investment application management function 14 , a legal document preparation function 15 and a secret key management function 16 . The property management function 11 registers the property transferred from the real estate owner, and the input/output management function 12 manages the transfer price. In addition, the input/output management function 12 also implements the investment amount invested by the investor 2 and the distribution for dividends and redemptions to the investor 2 . The investment application management function 14 collects the information necessary for applying for investment, and the investor management function 13 manages the investor information accompanying the transfer of the security token. In addition, the statutory document creation function 15 creates statutory documents such as a notice (or acceptance) of assignment of claims and sends them to the parties to the transfer of rights. Furthermore, inside the system, the business management section 10 is configured to cooperate with the front section 20 and the blockchain section 30 . In addition, the private key management function 16 of the business management unit 10 is used to allocate a unique private key to each investor so that it can be securely transmitted to the wallet of the investor 2 when the security token is transferred.

The front unit 20 provides an interface for connecting the securities management device 100 and the investors 2 (resultingly, between the investors via the securities management device 100) by the interface control unit 21. FIG. For example, assume that a certain investor 2 owns one or more security tokens of property X registered in the property management function 11 described above. The front part 20 provides a sales order screen for the investor 2 as a token seller to input and designate the transfer amount per token and the number of transfer units to the securities management device 100 . The front section 20 also provides a purchase order screen for a buyer investor who wants to purchase security tokens of the transfer price and the number of transfer units presented by the seller investor to specify the number of purchase units. Therefore, the front section 20 performs relative processing of transactions via the securities management device 100, such that the security token presented by the seller's investor can be specified by the buyer's investor.
In addition, for the investor management function 13 of the business management unit 10, a registration screen is provided to allow the investor 2 to input contact information such as name and address.

Security tokens possessed by the investor 2 who is the seller and presented on the sales order screen are subject to a silent partnership agreement between the special purpose company 1 which is the operator of the securities management device 100 and the investor. As long as it is premised that it is a real estate product, it is not limited to those that are solicited through crowdfunding and sold as small-lot real estate products. In other words, the present invention is also applicable to security tokens relating to real estate that are sold in any form by the special purpose company 1 or the sales/management consignment company 4 without going through crowdfunding.

The blockchain unit 30 is provided when a security token is issued, when the security token is transferred between the securities management device 100 and the investor 2, and when the security token is transferred between investors. In this case, since the distributed ledger managed by the securities management device 100 is instantly rewritten, the transfer status of the security token can be grasped in real time. Further, reference to the distributed ledger can be made at the request of the investor or the special purpose company 1 . As a result, not only the administrator of the securities management device 100 but also investors can grasp the status of token holdings and transfers. It can be shown that it was not created merely clerically or arbitrarily within the company.

Blockchain is already a well-known technology. The method of calculating a hash value for each data block and recording transaction data along with the hash value on a distributed ledger while connecting them like a chain will be omitted in this specification, but an overview of its superiority will be provided. Here are some.
Distributed ledger technology represented by blockchain is characterized by decentralized communication connections between multiple terminals without relying on specific server-dependent verifications to determine the validity of transactions and actions. The point is that it is based on a peer-to-peer (P2P) type network. A plurality of terminals manage update information to their own database from the past to the present as a series of ledger data, instead of a specific server managing ledger related to transactions etc. in an integrated manner. Moreover, since each terminal manages the same ledger data, only when it is recognized that there is no contradiction in any ledger for a new transaction etc., it will be treated as a regular transaction etc. to be added to each ledger, Ensures the authenticity of data on the database.

Due to these characteristics, blockchain technology (1) makes it impossible to falsify past transaction data, and (2) even if one terminal that manages data fails, it is possible to use data from other terminals. (3) It is extremely difficult to tamper with, since the communication inside the blockchain is encrypted and verified by certificates, so that the service can be continued and is highly available even if the system fails. .

In addition to the functions described above, the securities management device 100 also performs communication processing with a bank system or the like via an API or the like and various other processing (for example, identity verification, anti-social forces check, etc.). is a well-known matter or technique, so it is omitted in this specification. Further, electronic signatures or electronic certificates may be used for transmission and reception of various data between the securities management apparatus 100 and investors or between investors. Since these techniques are also known, they are omitted in this specification.

FIG. 3 is a flow chart showing the processing performed in the preparatory stage for starting trading among the procedures of the processing executed by the securities management device 100 . An example of a screen provided by the front section of the securities management device 100 (see FIG. 4) will be described in order.

First, the securities management device 100 registers a real estate property for which investment is solicited (step S301). The registered real estate property is presented to investors 2 as crowdfunding and sold as retail securities. FIG. 4A is a screen example showing that one property has been solicited for crowdfunding and one property has already been managed. In addition to the summary information such as the asking price, planned distribution ratio, and operation period for the real estate property as shown in the figure, the detailed screen presents information such as the location of the property and the number of building categories for investors to make investment decisions. Furthermore, an expected profit simulation as shown in FIG. 4B may be displayed as appropriate.

The securities management device 100 receives and registers an investor 2 who wishes to invest in a real estate property via crowdfunding (step S302). FIG. 4C is an example of a screen for inputting investor information.

Whether or not the investor is qualified is determined through identity verification and anti-social forces check (step S303), and if it is determined that the investor is insufficient, the registration is not performed as unapproved (step S304). If he is approved as investor 2, he is registered and a private key unique to the investor is created (step S305). The created secret key is used to ensure the confidentiality of communication between the business management section 10 and the front section 20, which are constituent modules within the securities management apparatus 100. FIG. Also, the blockchain unit 30 creates a wallet for holding security tokens for each approved investor (step S306).

The securities management device 100 displays the application screen shown in FIG. 4C and accepts investment applications in order to solicit investment applications for the presented crowdfunding from investors for a certain period of time (step S307).

Next, the securities management device 100 confirms that the investment has been transferred from the investor 2 to a predetermined investment account (step S308). After a predetermined period of time has passed since the end of the solicitation for each fund, it is confirmed whether or not the total investment amount including the investment amount deposited by each investor satisfies the solicitation amount criteria for the formation of the fund, and the establishment of the fund is determined. (Step S309).

When it is confirmed that the fund has been established (Yes in step S310), the securities management device 100 sends a document at the time of contract formation indicating that a silent partnership contract has been concluded between the special purpose company 1 and the investor 2. is sent to the investor 2 via a communication line such as the Internet (step S311). In the silent partnership contract between the special purpose company 1 and the investor 2, the establishment of the fund is a condition for suspension of Article 127, Paragraph 1 of the Civil Code, and the contract becomes effective when it can be determined that the fund has been established in step S310. do. On the other hand, if it cannot be confirmed that the fund has been established (No in step S310), the effect of the contract does not occur (step S312).
When the fund is established, the blockchain unit 30 of the securities management device 100 first issues security tokens in a quantity corresponding to the fund establishment amount and makes them held in the wallet of the special purpose company 1 (step S313).

Furthermore, the blockchain unit 30 transfers the security tokens of the token quantity corresponding to the investment (initial equity) of each investor from the wallet of the special purpose company 1 to the wallet of each investor 2 (step S314). At this time, the securities management system 100 notifies, via the network, that the fund has been established and the silent partnership contract has come into effect, and that the security token has been transferred to the wallet of the investor who is a partner. Notify home.

The blockchain unit 30 of the securities management device 100 records the transfer of the security token from the wallet of the special purpose company 1 to the wallet of the investor 2 in the distributed ledger (step S315). The information to be recorded includes at least the transfer source wallet ID, the transfer destination wallet ID, the transferred token ID, the number of transferred tokens, and the transfer date and time. Furthermore, it is desirable to record the date and time when the investment application was made in step S306 and the date and time when the security token was issued in step S311.

Next, FIG. 5 shows, among the procedures of the processing executed by the securities management device 100, the token is transferred to another investor 2 under the condition that the security token is held in the wallet of the investor 2. 10 is a flow chart showing processing when performing. This corresponds to when the transfer of security tokens takes place in the so-called secondary (secondary market).

Screen examples provided by the front unit 20 of the securities management apparatus 100 (see FIGS. 6A to 6I) will be described in order.
Investors who wish to sell their security tokens (hereinafter referred to as "seller-side investors") are requested on an authentication screen (see FIG. 6A) provided by the front section 20 of the securities management device 100. When the unique information is entered and the person is authenticated (step S501), the securities management device 100 displays a list of ownership of security tokens held in each wallet as shown in FIG. 6B. In the example shown in FIG. 6B, one fund (“first fund”) holds 55 tokens with a unit price of 10,000 yen. If the "details" button 60 is clicked here, a list of each of the 55 tokens is displayed (see FIG. 6C). Furthermore, when the "details" button 61 of each token is clicked, the detailed information of the clicked token is displayed (see FIG. 6D). In the example of FIG. 6D, "6..." and "3..." are shown in each item such as the token ID and the fund ID. It is an example of displaying an encoded code. Token ID in FIG. 6C also indicates an encoding code. However, the actual owner name or the like may be displayed so that each item can be understood at a glance.

When the selling investor wishes to sell the security tokens they hold, they return to Figure 6C and click the "Sell" button 62 (see Figure 6E). In response to the click, securities management device 100 displays a sell order screen as shown in FIG. 6F. If the selling investor determines that it is not necessary to confirm the details of the equity and tokens, the display of the equity list and token details can be skipped, and the sell order screen of FIG. 6F can be displayed immediately. Just do it.

Next, the seller-side investor enters the number of tokens to be sold column 63 and the suggested selling price per token to be offered as the selling price in the offered price column 64 on the selling order screen of FIG. 6F (step S502). Note that the value shown in the token price column 65 is the price when the seller-side investor acquires the token. In addition, an offerable price 66 is displayed on the selling order screen. This indicates the range of token unit prices that can be entered in the offer price field 64, and is preferably based on the appraisal result of a real estate appraiser. The seller-side investor enters a desired sale price in the offer price field 64 within the offerable price range shown based on the appraisal value of the real estate appraiser.

On the other hand, an investor who wishes to purchase a security token (hereinafter referred to as a “buyer investor”) selects the fund he/she wishes to purchase from the list of available purchase orders (see Figure 6G). ' button 67. In response to the click, securities management device 100 displays a purchase order screen as shown in FIG. 6H. Needless to say, as a precondition for a purchase order by a buyer-side investor, funds that can be used to place a purchase order must already be deposited in a predetermined investment account. In order for the buyer-side investor to grasp the contents of each fund, a token detailed information screen (not shown) similar to that shown in FIG. 6D presented to the seller-side investor is displayed.

Since the quantity of tokens to be sold by the seller-side investor is displayed in the purchaseable token quantity column 70 of the purchase order screen shown in FIG. Input in the token number column 72 (step S503). The price displayed in the sales price column 73 is the value entered by the seller-side investor in the suggested price column 64 in FIG. The calculated total purchase amount is automatically displayed in total amount column 74 . Also, the offerable price 71 corresponds to the offerable price 66 shown to the sell-side investor in FIG. 6F.

In response to the clicking of the buy order confirmation button, the block chain unit 300 of the securities management device 100 considers that the buy and sell orders are matched, and determines that the trade is completed (step S504). When the transaction is completed, the purchased token is excluded from subsequent purchases and is awaiting approval from the special purpose company 1, which is the obligor under the silent partnership contract. Special purpose company 1 (or an entrusted company from special purpose company 1) approves token purchases that are waiting for approval at a predetermined time (for example, 15:00 every business day), and based on the approval, purchased tokens Transfer the same amount of tokens as the number from the seller's wallet to the buyer's wallet on the blockchain platform.

In response to the above transfer, the blockchain unit 300 provides the transaction ID related to the sale, the token ID that identifies the transferred token, the number of transferred tokens, the date and time of the token transfer, and the date and time of establishment of the sales contract (obligation under the anonymous partnership contract). Approval date and time of the token trading by the special purpose company 1), the seller's investor ID, the buyer's investor ID, etc. are recorded in the distributed ledger (step S505). The investment application date and time, the token issuance date and time, etc. may also be recorded. In preliminary demonstration experiments, it was confirmed that the time required to rewrite the blockchain ledger due to the transfer was within a few seconds, which can be realized practically in real time.
It should be noted that the date and time are not based on a timer that the securities management device 100 can set independently, but are synchronized with the time provided by a reliable institution. For example, NTP (Network Time Protocol) servers have a hierarchical structure with an extremely accurate NTP server using GPS or an atomic clock at the top, and each NTP server obtains time information from the upper NTP server. This keeps the accuracy of the time information. The securities management device 100 periodically inquires about the time information using the NTP communication protocol through the TCP/IP network, acquires the time information, and sets the internal clock of the device correctly.

Once the security tokens are transferred to the buy-side investor, the buy-side investor can now sell the security tokens purchased as the sell-side investor. Therefore, the investor management function 13 registers and manages the buyer-side investor after the token transfer as a creditor under the silent partnership contract.

When the transfer of the token is completed and recorded on the distributed ledger by the blockchain unit 300, the special purpose company 1, which is the obligor under the silent partnership contract, approves the transfer of the token to the seller-side investor. In order to notify the effect, the special purpose company 1 (or the entrusted company from the special purpose company 1) sends the sales side investor's My Page (for each investor registered in the securities management device 100) to the front desk 20. Instruct to display a notice of acceptance of the token transfer on the viewing page dedicated to each investor, which is provided and can display and browse various information on the display screen (see Figure 6I) ). When the special purpose company 1 notifies the seller-side investors via the securities management device 100 to the effect that the above token transfer is accepted, that is, when the special purpose company 1 (or the special purpose company 1 entrusts When the notice is displayed on the selling side investor's my page according to the instruction from the company) (the time point is linked to the notice and stored in the securities management device 100, and is notified as shown in FIG. 6I date and time), the special purpose company 1 accepts the sales contract between investors by means of a "certificate with a fixed date".

The statutory document creation function 15 of the business management unit 10 creates a digital certificate, which is an electromagnetic document (PDF document) that describes the contents of the sales contract and the token transfer information that is the record on the blockchain related to the sales contract, When the seller-side investor clicks the URL described in the notification, the digital certificate can be confirmed. Here, the information related to the token transfer described in the digital certificate (hereinafter referred to as "token transfer information") is information that specifies the details of the token transfer between investors. Includes fund name and fund ID, seller-side investor ID, buyer-side investor ID, transaction ID, token ID, token quantity, token price, date and time of establishment of sales contract (date and time of approval of token sales by special purpose company 1).

As described above, the digital certificate in the present embodiment means a document (for example, a PDF document) created with electronic information. It doesn't have to be. In other embodiments, for example, the information indicated on the digital certificate includes a digital display in the form of simply being displayed as a list of texts including letters and symbols on the screen of the terminal operated by each investor 2.

Also, in the present embodiment, the special purpose company 1 notifies the seller-side investor that the token transfer is approved, but the present invention is not limited to this. In other words, when the special purpose company 1 notifies the buyer-side investor as described above and the notice is displayed on the buyer-side investor's My Page, the "certificate with a fixed date" of the sales contract between the investors Alternatively, the notification may be displayed on both the My Page of the selling side investor and the buying side investor.
In addition, in this embodiment, the token transfer information is confirmed by clicking the URL in the notification displayed on My Page. union), or a display method that omits clicking on the URL.

Further, in the present embodiment, when the sales contract is concluded, the digital certificate is automatically sent to the investor by e-mail via the Internet, but it may be sent upon receiving a request from the investor.
Also, in this embodiment, the destination to which the digital certificate is sent is both the seller-side investor and the purchase-side investor, but in other embodiments, the destination may be only the seller-side investor or only the purchase-side investor. good too.
In addition, the timing of sending the digital certificate is when the sales contract is concluded (when the special purpose company 1 approves the token trading), or when the seller (or buyer) investor clicks the URL described in the notification. At times, it shall be done without delay either automatically or through manual work by the Special Purpose Company 1, etc.
In addition to sending the digital certificate by email, it is also desirable to post it on the investor's My Page so that it can be viewed/downloaded at all times.

As can be understood from the explanations so far, the notification that the special purpose company 1 approves the transfer of tokens to the seller-side investors (or the purchase-side investors and both) is the (including transfer of contractual status in a contract).
Again, according to instructions from the special purpose company 1 (or a company entrusted by the special purpose company 1), a notification to the effect that the token transfer is approved on the my page of the seller's investor, etc. in the securities management device 100 is displayed, the special purpose company 1, who is the obligor under the silent partnership contract, is required by Article 467, Paragraph 2 of the Civil Code to the seller-side investor who is the assignor of the claim and the buyer-side investor who is the assignee of the claim. Equivalent to consenting to the assignment of claims (including the transfer of contractual status in the partnership contract) by means of a "certificate with a fixed date".

Therefore, when the security token is transferred, a notice of acceptance of the transfer by the special purpose company 1 as the debtor is sent to the seller-side investor as the transferor of the claim via the securities management device 100, and the digital certificate This can also be confirmed by receiving an email from There is no need for any procedure for the investor to prepare for third party perfection requirements. At the same time as the purchase of the security token, the buyer-side investor will be able to comply with third-party requirements for the transfer of the rights of the real estate securities corresponding to the token, and will be able to confirm this by receiving the digital certificate by e-mail, making it extremely convenient. You will be able to recognize the fact of the transfer that has definitely been made. Compared to conventional correspondence with a "certificate with a fixed date" using content-certified mail, etc., there is no off-line work, and information on the sales contract (assignment of receivables) can be transmitted within a few seconds after the sales contract is concluded. As a result, the security of the transaction of the sales contract is dramatically increased, and there is a remarkable effect that it contributes to speeding up and paperless trading.

In addition, although it is impossible to double transfer the silent partnership equity interest within the securities management device 100, if the silent partnership equity interest held by the seller investor (receivable transferor) is transferred outside the securities management device 100 Even in the case of a double transfer, the data created using the blockchain technology of the securities management device 100 will not be used as debt due to the technical superiority inherent in blockchain, such as the impossibility of falsification of past transaction data. Information on the approval by the special purpose company 1 can be accurately grasped even after the fact by checking the record on the block chain in the securities management device 100 . As a result, there is also the effect that the safety of transactions in the sales contract can be ensured and unnecessary disputes can be avoided.

In the case of the present embodiment, for the convenience of investors, a method is adopted in which the requirement to compete against a third party is provided by the "approval" of the special purpose company 1, which is the debtor. stipulates "notice or acceptance by deed with a fixed date," so in other embodiments, instead of "acceptance", "notice", i.e. (including assignee of receivables; hereinafter referred to as "assignee of receivables, etc.") shall "notify" the special purpose company 1 that is the obligor, or the third party perfection requirement by both "acceptance" and "notice" may be equipped with The securities management device 100 receives token transfer information (fund name and fund ID related to trading, seller-side investor ID, buyer-side investor ID, transaction ID, token ID, token quantity, token price, date and time of trading contract establishment (special Create a certificate for requirements against a third party stating the approval date and time of token trading by the target company 1) and send it to the transferor of the claim, etc., and the third party as a declaration of intention that the transferor, etc. does not object to the above statement If the deed for perfection requirement is transmitted to the debtor (special purpose company 1) via the securities management device 100, the same as the above-mentioned third party perfection requirement by "acceptance" will be made at the time when the debtor receives it. Alternatively, the securities management device 100 transmits a model or template for describing the token transfer information to the transferor of the claim, and the transferor of the claim enters the token transfer in a predetermined column of the template or the like. The certificate for third party perfection requirements completed with information written may be sent to the debtor (special purpose company 1) via the securities management device 100. As another method, the transferor of the claim may send the template It also includes sending to the obligor (special purpose company 1) a deed for the third party perfection requirement that describes the token transfer information without using etc.

Also, the securities management device 100 stores the above-described digital certificate for at least five years from the date of transmission or acceptance. Then, the digital certificate can be presented in response to disclosure requests from the security token seller (transferor) and buyer (transferee) or the special purpose company 1 .

(Industrial Applicability and Superiority)
According to the securities management device 100 of the present embodiment, investors can purchase or sell their security tokens at any timing in the so-called secondary market. Although it is not a transfer of securities, real estate crowdfunding actually exists as a similar mechanism. However, in real estate crowdfunding, the investment operation period is set, and in principle, mid-term cancellation during the operation period is not possible. It is possible to redeem (cash) at the time of , and if you need urgent funds, you can sell it and get cash. This will provide investors with a flexible investment recovery opportunity that cannot be compared with the past, leading to attracting active investment.

In addition, investment through real estate crowdfunding so far has been limited to negotiated transactions between investors and fund operators in the primary market. In other words, the secondary market, which is trading between investors, is not well established. On the other hand, the securities management device 100, as described above, transfers security tokens from investor to investor, so it is configured to sufficiently cope with the secondary market. Moreover, in the case of the securities management device 100, there is no special procedure from the investor side, so the secondary market will be established in the future. Even if activated, there is no possibility of unforeseen disadvantages to investors due to double transfer.

Finally, additional functions will be described when the securities management device 100 is used to transfer the "rights to transfer electronic records excluded from application" under the Financial Instruments and Exchange Act.
First, Article 2, Paragraph 3 of the Financial Instruments and Exchange Act defines “rights to transfer electronic records.” (3) excluding certain items such as those with low circulation, which are indicated as property values that can be transferred by means of

Security tokens fall under the category of "rights to transfer electronic records", but in the case of security tokens with low circulation in (3) above, they fall outside the scope of "rights to transfer electronic records". In this case, it may be different from the security tokens described so far. However, in the information processing device that acquires digitized securities and transfers them among investors according to the present invention, the certificate for preparing the transfer of the securities against third parties The feature of creating by hand is not affected by the degree of circulation of tokens.

For security tokens that are regarded as "excluded electronic record transfer rights" due to their low circulation, the following restriction function is added as a function provided in the securities management apparatus 100 of the present embodiment, and "electronic record transfer be treated as equivalent to security tokens, which are “rights”.
・Persons other than qualified institutional investors, etc. stipulated in the Financial Instruments and Exchange Act or investors within the scope of eligible investors for special business for qualified institutional investors (investors subject to special business) acquire and transfer tokens technical measures to prevent
・Technical measures to prevent tokens from being transferred without the request of the right holder and the approval of the issuer on each occasion.

Simply put, it is an "acquirer restriction" that prevents anyone other than financial professionals such as financial instruments business operators and fund managers, or individuals who hold large investment financial assets, from holding and transferring tokens. ” means, and a “transfer restriction” means that requires the offer of the right holder and the approval of the token issuer for the transfer of the token.

By adding the above restriction function, the securities management device 100 makes it possible to transfer the "excluded electronic record transfer right" without any trouble and with certainty, which satisfies requirements against third parties.

In addition, the present invention provides programs installed or loaded in a computer by downloading through various recording media such as optical discs such as CD-ROMs, magnetic discs, and semiconductor memories, or by downloading via communication networks, and storage of these programs. A medium is included as a category of the invention.

Furthermore, a terminal related to the blockchain unit 30 of the securities management device 100 via a network is a computer connected to a network such as the Internet or a dedicated line. Specifically, for example, PCs (Personal Computers), mobile phones, smart phones, PDAs (Personal Digital Assistants), tablets, wearable terminals, and the like are listed. Also, the mobile terminal of the investor 2 may be, for example, a mobile phone, a smart phone, a PDA, a tablet, a wearable terminal, or the like. A business scheme including the securities management apparatus 100 is configured by setting a terminal and a mobile terminal connected to a network by wire or wirelessly so that they can communicate with each other. Also, in the above-described embodiment, the securities management device 100 is a P2P type system, but it does not necessarily have to be a P2P type distributed ledger technology. It may be configured as a system that cooperates with an ASP (Application Service Provider).

1 Special Purpose Company 2 Investor 3 Real Estate 10 Business Management Department 11 Property Management Function 12 Input/Output Management Function 13 Investor Management Function 14 Investment Application Management Function 15 Legal Form Creation Function 16 Secret Key Management Function 20 Front Section 21 Interface Control Section 30 Block chain part 100 Securities management device

Claims (10)

A rights information processing device related to a business based on a union contract,
a rights segmentation means for digitally dividing the rights into two or more units;
obligee registration means for registering information on the obligee of the right and the number of units of the right held by the obligee;
an assignment request receiving means for accepting an assignment request of the right from the registered obligee via a communication line, wherein the assignment request includes identification information specifying the right and the number of assignments;
an application screen for soliciting the transfer of the right, wherein the transfer acceptance means receives, via the communication line, identification information of the right to be transferred and the number of transferees from the person wishing to transfer the right;
Distributed ledger recording means for recording, in a distributed ledger including a blockchain, transfer information indicating that the number of transferees of the rights specified by the transfer applicant is to be transferred from the obligee to the transfer applicant;
A dedicated viewing screen for at least one of the obligee who is the transferor of the right and the applicant for the transfer who is the transferee of the right, and which indicates that the obligor of the right approves the transfer of the right. means for displaying a notice of consent to be displayed on a page, the means for displaying a notice of consent, which makes it possible to assert against a third party with respect to the transfer of the right at the time when the notice of consent is displayed;
Information processing device with The consent notice includes a digital address of a digital certificate, which is an electromagnetic document containing the transfer information recorded by the distributed ledger recording means,
2. The method of claim 1, further comprising digital certificate display means for displaying said transfer information and acceptance of transfer of said rights by said debtor in response to access of said digital address by said creditor or said transferee. information processing equipment. In place of or in addition to the notice of acceptance, obligee notification means for notifying the obligor of the transfer information from the applicant for the transfer acting as the obligee or the agent or messenger of the obligee. 3. The information processing apparatus according to claim 1, further comprising: The notice of acceptance shall not be sent until the time set in advance, and after that time has elapsed, it will be automatically or manually posted on the viewing screen page of each of the obligee who is the party to the transfer of the right and the person who wishes to transfer the right. 4. The information processing apparatus according to any one of claims 1 to 3, wherein the information processing apparatus controls to 3. The distributed ledger recording means records the transfer information on the distributed ledger, and the digital certificate can be provided to at least one of the obligee, the obligor, or the transfer applicant. The information processing device according to . The transfer information includes identification information that identifies the obligee of the right to be transferred and the applicant for the transfer, information that identifies the right to be transferred, transfer price, number of transfer units, transfer of the right to the obligor. 6. The information processing apparatus according to any one of claims 1 to 5, comprising at least the date and time when the approval was given. 7. The information processing apparatus according to claim 1, wherein said obligee registration means registers said transfer applicant as an obligee of said right after said transfer. Any one of claims 1 to 7, wherein said right is a right to receive a distribution of profits generated from a business based on said partnership contract or a distribution of property related to said business, and said creditor is an investor of said business. The information processing device according to . (1) an acquirer restriction that prevents any number of such rights from being held except by persons or entities meeting prescribed conditions; and
(2) Transfer restrictions that prevent the rights from being transferred without the request of the owner of the rights and the consent of the operator or manager of the information processing device;
9. The information processing apparatus according to any one of claims 1 to 8, further comprising limiting means for realizing A program executed in a rights information processing device relating to a business based on a partnership contract, wherein the rights information processing device
digitally dividing the rights into two or more shares;
registering the creditor information of said right and the number of units of said right held by said creditor;
Receiving a transfer request of the right from the registered obligee via a communication line, the transfer request including identification information specifying the right and the number of transfer units,
an application screen for soliciting the transfer of the right, wherein the identification information of the right to be transferred and the number of transferees are received from the person who wishes to transfer the right via the communication line;
Recording transfer information indicating that the number of transferees of the right specified by the transfer applicant is to be transferred from the creditor to the transfer applicant in a distributed ledger including a blockchain;
A dedicated viewing screen for at least one of the obligee who is the transferor of the right and the applicant for the transfer who is the transferee of the right, and which indicates that the obligor of the right approves the transfer of the right. display on the page;
program to run the

Images