Computer method and apparatus for administering a commodity material transaction via a distributed ledger

A computer method for conveying value associated with a commodity, comprising:

• issuing, with a server computer, a distributed ledger token corresponding to a distinguishable instance of a commodity;
• and
• outputting, with a web server for display via a graphical user interface (GUI) on a user device, information corresponding to the distributed ledger token and the distinguishable instance of the commodity;
• wherein the distributed ledger token represents ownership of the distinguishable instance of the commodity.

A computer method for transferring an interest in a commodity, comprising:

• receiving, into a server computer from a first user via a graphical user interface (GUI) displayed on a remote user device and a network, a private key and an image of a proof of ownership of a distinguishable instance of a commodity;
• generating a smart contract conveying conditional ownership of the distinguishable instance of the commodity;
• issuing, with the server computer, a first quantity of electronic tokens on a distributed ledger, the first quantity of electronic tokens carrying the smart contract such that the first quantity of electronic tokens are capable of collectively representing ownership of the distinguishable instance of the commodity;
• transferring at least a portion of the first quantity of electronic tokens to a first user electronic wallet corresponding to the first user;
• receiving, from the first user via the graphical user interface (GUI) displayed on the remote user device, an offer to sell at least a portion of the first quantity of electronic tokens;
• listing at least a portion of the first quantity of electronic tokens on an electronic token exchange;
• and
• transferring at least a portion of the first quantity of electronic tokens from the first user electronic wallet to a buyer electronic wallet using an exchange settlement service disposed on a second server computer.