Evolving actual possession token with verifiable evolution state

An electronic token that can be actually possessed, comprising:

• a data block of an issue transaction comprising a transaction data of the issue transaction,
• a block hash of the data block of the issue transaction representing a state of the electronic token following the issue transactions and generated as an output of a cryptographic hash function with inputs comprising the transaction data of the issue transaction,
• a data block of a current transfer transaction comprising a transaction data of the current transfer transaction,
• a secret value used to evolve a current state of the electronic token following the current transfer transaction,
• a block hash of the data block of the current transfer transaction, the block hash of the data block of the current transfer transaction and generated as an output of a cryptographic hash function with inputs comprising the transaction data of the current transfer transaction, a block hash of a data block of a previous transfer transaction, and the secret value, defining a dependency of the data block of the current transfer transaction on the data block of the previous transfer transaction and the data block of the issue transaction,
• one or more leaf nodes of a hash tree terminating in a root node of the hash tree, the root node representing an evolved state of the electronic token following the current transfer transaction.

A method of ledgerless ownership through actual possession of an electronic token, the method comprising:

• receiving the electronic token in a current transfer transaction and storing the electronic token in a memory, the electronic token comprising a data block of a previous transfer transaction and a block hash of the data block of the previous transfer transaction representing a state of the electronic token following the previous transfer transaction and generated as an output of a cryptographic hash function with inputs comprising the transaction data of the previous transfer transaction;
• at least one of receiving and generating a transaction data of the current transfer transaction;
• storing the transaction data of the current transfer transaction in a data block of the current transfer transaction;
• gathering an entropic input from an entropy source;
• generating a secret value based on the entropic input;
• feeding into a first cryptographic hash function inputs comprising the transaction data of the current transfer transaction, the block hash of the data block of the previous transfer transaction, and the secret value;
• generating a block hash of the data block of the current transfer transaction as an output of the first cryptographic hash function;
• storing the secret value in the computer memory;
• and
• publishing a state hash representing an evolved state of the electronic token that is at least one of the block hash of the data block of the current transfer transaction, an output of a cryptographic hash function with inputs comprising the block hash of the data block of the current transfer transaction, and dependent on the block hash of the data block of the current transfer transaction, to establish an independent evidence of evolution of the electronic token.