Blockchain Title Management via Physical Vault Segmentation

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Solution Overview

Problem

Current title transfer systems, both paper and electronic, lack robust security measures, making them vulnerable to malicious activities and hinder efficient transfer processes.

Innovation Solution

A method utilizing a processor to record title transactions on a distributed digital public ledger, encoding identifying information, and providing notification for ownership transfer through an API or user interface, ensuring secure and transparent title management.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If paper title documents are secured with additional safeguards, then security is improved, but the ability to transfer the documents is inhibited

Engineering Contradiction:

ImprovesecurityVSAvoidtransfer ability

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The patent divides the title management system into two separate components: physical title documents stored securely in vaults, and digital records stored on a blockchain ledger. This segmentation allows the physical documents to remain secure while the digital records enable easy transfer through cryptographic transactions without requiring physical document movement.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The patent introduces a blockchain-based digital ledger as an intermediary between the physical title documents and the transfer process. This intermediary records ownership transfers cryptographically, enabling secure and easy transfers without compromising the security of the physical title documents stored in vaults.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Reliability

If electronic titles have additional security safeguards, then security is improved, but management capability is reduced

Engineering Contradiction:

ImprovesecurityVSAvoidmanagement capability

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The patent implements a self-service system where the blockchain ledger automatically manages title transfers through cryptographic validation. The system autonomously verifies ownership and executes transfers without requiring complex manual management processes, thereby maintaining high security while simplifying management capability.

Inventive Principle:

Principle #25Self-service

3Productivity

If paper titles are transferred easily, then transfer efficiency is improved, but security is compromised

Engineering Contradiction:

Improvetransfer efficiencyVSAvoidsecurity

Core Design Contradiction:

ProductivityVSReliability

Solution Approach 1:

The patent creates a digital copy of the title ownership record on the blockchain ledger that mirrors the physical title document. Transfers are executed by updating the digital record through cryptographic transactions, enabling efficient transfers without moving the physical document, thus maintaining both security and transfer efficiency.

Inventive Principle:

Principle #26Copying

Data Source

PatentUS11232415B2Method for cryptographically managing title transactions

Publication Date: 2022.01.25 OX LABS

AI summary

A method for encrypting paper title assets to crypto currency and transferring title is disclosed. The method involves the use of application software and a physical vault. Application software including an encryption engine, a decryption engine, a user interface module, records, and a security key management system. Paper title assets are provided to a physical vault and transferred physically at the behest of users of the application software and verified by public ledger records.