A Limited-Use Asset Management System on the Blockchain Platform with an Extended Open Assets Protocol

Currency payment platforms on blockchains have widely spread through the e-commerce market all over the world. Colored Coins are ones of the platforms that can add information which expresses issuers and purposes of the coins. The purposes written in the information can express the usage such as coupons, but cannot prevent the coins from being paid for other purposes. First, in this paper, we propose an extended open assets protocol for limited-use assets. This protocol prevents the assets from being used for other purposes than the issuer's intended purposes. Second, we construct a limited-use asset management system on the blockchain platform with our proposed open assets protocol. Finally, we indicate the effects and use cases of our proposed system.