Blockchain Property Archival System for Secure Data Management
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Solution Overview
Problem
Current systems for storing and retrieving property development information are inefficient, leading to errors and increased costs, as they often rely on manual processes and are not securely accessible by multiple parties involved in property transactions.
Innovation Solution
A blockchain-based system that allows secure and accurate storage, retrieval, and updating of property development information through a Property Archival (PA) computer system, utilizing blockchain nodes for decentralized and encrypted data management, enabling multiple parties to access and update property records efficiently.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual processes are used to store and retrieve property information, then flexibility and ease of implementation are maintained, but efficiency and accuracy deteriorate leading to errors and increased costs
Solution Approach 1:
The patent replaces manual mechanical processes with an automated blockchain-based digital system. Property information is automatically stored, retrieved, and updated through smart contracts and cryptographic protocols, eliminating human error and improving efficiency while maintaining system integrity through decentralized validation mechanisms.
Solution Approach 2:
The blockchain acts as a neutral intermediary between multiple parties (owners, contractors, insurers, buyers). The distributed ledger and consensus mechanisms provide a trusted middle layer that enables secure information exchange without requiring direct trust between parties, resolving the contradiction by introducing a mediating infrastructure that improves efficiency while managing complexity through standardized protocols.
2Ease of operation
If property information is stored in a centralized system, then access control and data consistency are easier to manage, but security and accessibility to multiple parties deteriorate
Solution Approach 1:
The patent segments the centralized storage model into a distributed network of blockchain nodes, each holding a copy of the property information ledger. This segmentation allows multiple parties to access data simultaneously while maintaining security through cryptographic hashing and consensus validation, resolving the contradiction by distributing both accessibility and security across the network.
Solution Approach 2:
The system changes the fundamental parameter of data storage from centralized physical storage to decentralized cryptographic storage. Property information is transformed into hashed representations on the blockchain, enabling simultaneous access by multiple parties while maintaining immutability and security through cryptographic principles, thus improving accessibility without compromising reliability.
3Loss of information
If property history is maintained through multiple individuals and companies, then diverse perspectives and input are gathered, but information completeness and accuracy deteriorate
Solution Approach 1:
The patent merges information from multiple sources (owners, contractors, insurers, buyers) into a single unified blockchain ledger. All property history, including specifications, maintenance records, and transaction data, is consolidated into one immutable record that all parties can access, eliminating information loss while managing coordination through standardized data submission protocols.
Solution Approach 2:
The blockchain system serves as a universal platform that handles multiple functions: storing property specifications, tracking maintenance history, recording ownership transfers, and providing insurance documentation. This multi-functional approach consolidates information from diverse sources into a single system, improving information completeness while reducing coordination complexity through a standardized interface.
4Reliability
If conventional storage systems are used for property information, then implementation simplicity is maintained, but data security and immutability deteriorate
Solution Approach 1:
The patent replaces conventional mechanical storage systems with a cryptographic blockchain architecture. Property information is secured through hashing algorithms and stored in an immutable distributed ledger, providing enhanced security and reliability. The increased architectural complexity is managed through automated smart contracts that handle validation and consensus, transforming a complex security problem into a standardized cryptographic solution.
Data Source
AI summary
An access computing device for creating a blockchain that securely and accurately stores property development information includes a processor in communication with a memory device. The processor is programmed to: (i) access a blockchain network through a first blockchain node computing device, (ii) receive a request for information from a first blockchain of the plurality of blockchains, (iii) transmit a query including an asset identifier to the first blockchain node computing device, (iv) receive an encryption of the property development information from the first blockchain node computing device, (v) access a public key to decrypt the encryption of the property development information, (vi) transmit updated property development information for an existing real estate property asset based at least in part upon the decrypted existing property development information, and (vii) automatically transmit an update instruction to the first blockchain node computing device.