This invention describes a system that continuously monitors a product's condition by collecting data about events or environmental factors that could affect it. It then calculates the probability that the product will need replacement. Based on this calculated probability, the system automatically sets up a financial contract, such as an option-type futures contract, to secure a replacement. Later claims specify using a smart contract, with its duration determined by when a physical examination might confirm the need for replacement.
Why it matters: Autonomous configuration of complex financial instruments and smart contract integration have matured significantly since 2022, making this system more practically feasible.
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