Distributed Ledger Chain of Custody for Asset Provenance
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Solution Overview
Problem
Conventional computer-based tracking and chain of custody approaches lack the ability to verify the integrity of data and capture the complete provenance of physical assets associated with their geolocation, leading to issues with ownership verification and transaction authenticity.
Innovation Solution
A decentralized chain of custody is implemented using a distributed ledger, such as a permissioned blockchain, which stores geolocation data and transaction information in a transparent and immutable manner, ensuring that each transaction is recorded and verifiable, and preventing duplication of credits by linking records through hash values.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional computer-based tracking and chain of custody approaches are used, then the system is simpler to implement, but the ability to verify data integrity and capture complete provenance is insufficient
Solution Approach 1:
A blockchain intermediary layer is introduced between the physical asset tracking system and the verification system. The blockchain serves as a decentralized mediator that stores geolocation data, transaction data, and chain of custody information in an immutable manner, allowing multiple parties to verify data integrity without trusting a single central authority. This resolves the contradiction by providing reliable verification through the blockchain intermediary while distributing system complexity across the network rather than concentrating it in one complex central system.
Solution Approach 2:
The patent creates digital copies of physical asset information (geolocation data, transaction data, chain of custody records) and stores them on the blockchain. These digital copies are immutable and can be verified by multiple parties without affecting the original physical asset or its tracking system. This allows comprehensive provenance tracking and verification while keeping the physical tracking system relatively simple, as the blockchain handles the complex verification functions through cryptographic copies of the data.
2Loss of information
If a decentralized chain of custody using distributed ledger is implemented, then transparency and verifiability are improved, but the device complexity increases
Solution Approach 1:
The blockchain system performs multiple functions simultaneously: it stores geolocation data, records transaction history, maintains chain of custody information, and provides verification mechanisms all in a single decentralized ledger. This multi-functionality reduces the need for separate specialized systems for each function, thereby managing complexity while achieving complete provenance tracking. The universal blockchain platform handles diverse data types and verification requirements through its inherent design.
Solution Approach 2:
The patent implements a nested structure where the blockchain ledger contains nested data structures: geolocation data is stored in root records, transaction data is stored in subsequent records, and each record contains hash values that link to previous records. This nested organization allows complete provenance tracking through hierarchical data structures, where each layer builds upon and references the previous layers, providing comprehensive information while organizing complexity in a manageable hierarchical manner.
3Reliability
If geolocation data and transaction data are stored in a distributed ledger with hash value linking, then immutability and verification capability are improved, but the storage and processing complexity increases
Solution Approach 1:
The patent replaces traditional mechanical or centralized verification mechanisms with cryptographic hash functions. Instead of relying on centralized authorities to verify transaction authenticity or maintain immutable records, the system uses mathematical hash functions to create cryptographic links between records. Each record's hash value depends on the previous record's data, creating an immutable chain through mathematical relationships rather than physical or administrative controls. This substitution reduces reliance on complex centralized verification infrastructure.
Solution Approach 2:
The patent transforms data storage and verification by changing the fundamental parameters of how data is organized and linked. Instead of storing transactions in simple sequential databases, the system uses hash values as linking parameters between records. Each record contains a hash of the previous record's data, creating cryptographic dependencies. This parameter change from simple sequential storage to hash-linked storage provides immutability and verification capabilities while the modular nature of hash computations allows for efficient processing despite the increased complexity.
Data Source
AI summary
Systems, methods, and computer media for authenticating and verifying transactions using a distributed-ledger-based chain of custody are described herein. A transactable credit can be generated that represents establishment of a physical asset that is fixed to a geolocation. A decentralized chain of custody for the transactable credit can be established in a distributed ledger. The decentralized chain of custody can include information describing the establishment of the physical asset, the geolocation of the physical asset, and transaction information for transactions involving the physical asset. Transactions involving the transactable credit can be authorized using the decentralized chain of custody, and transaction information for such transactions can also be stored in the distributed ledger as part of the decentralized chain of custody.