Biometric Property Title Lock With Blockchain Verification
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Solution Overview
Problem
Property-deed fraud and unauthorized access are prevalent due to the lack of secure, verifiable ownership records, with traditional methods relying on physical deeds susceptible to forgery and unauthorized transfers.
Innovation Solution
A Biometric Identity Lock Instrument (BILI) uses biometric data, such as fingerprints and facial scans, to authenticate property ownership, linking records to both a blockchain ledger and local county registers, ensuring secure and tamper-proof documentation through a dual storage system.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional physical deeds are used to secure property ownership, then the system is simple and easy to understand, but the security and reliability of ownership records deteriorate due to susceptibility to forgery and unauthorized transfers
Solution Approach 1:
The patent introduces a third-party verification service (ID.me) as an intermediary between the property owner and the title company. This intermediary service performs biometric verification and identity authentication, thereby enhancing the security and reliability of ownership records without requiring the property owner to directly implement complex biometric systems. The intermediary handles the technical complexity while providing a secure verification mechanism.
2Reliability
If biometric data is collected and stored to authenticate property ownership, then the reliability and security of ownership verification is improved, but the complexity of the system and data handling requirements worsens
Solution Approach 1:
The patent creates a copy of the biometric data and property title information in a blockchain ledger. Instead of storing sensitive biometric data in centralized databases that are vulnerable to breaches, the system creates an immutable copy on the blockchain that contains hashed versions of the biometric data. This copying approach enhances authentication accuracy while reducing the complexity of data security management.
Solution Approach 2:
The patent uses a third-party verification service (ID.me) as an intermediary to handle biometric data collection, verification, and storage. This intermediary service manages the technical complexity of biometric systems, providing a secure and reliable authentication mechanism without requiring the property owner or title company to directly implement and maintain complex biometric infrastructure.
3Reliability
If dual storage system (blockchain and county register) is implemented, then the reliability and legal recognition of ownership records is improved, but the complexity of record-keeping and system integration worsens
Solution Approach 1:
The patent merges two storage systems - the blockchain ledger and the county register of deeds - into a unified verification process. The BILI form is stored in both systems, creating a cross-referenced record that enhances legal recognition and reliability. The merging of these systems allows for redundant verification while maintaining the legal validity of property ownership records.
Data Source
AI summary
This invention relates to a system and method for securing property ownership records through a secure tamper-proof biometric verification and blockchain technology; Biometric Identity Lock Instrument (BILI). The invention Biometric Identity Lock Instrument (BILI) captures a property owner's biometric data, encrypts it, integrates biometric authentication to property deeds, links it to a blockchain-based registry, and legal frameworks. The system generates secure documents for locking and unlocking transactions, preventing unauthorized property transfers and mitigating fraud. The BILI document is generated with a unique QR code and serial number for dual physical-digital verification, ensuring transparency and security in real estate transactions. This method is particularly applicable to real estate and government-backed loan systems.