Linked Electronic Digital Certificates for Shared Artifact Ownership
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Solution Overview
Problem
Existing systems lack an efficient method for distributing and managing ownership of artifacts or resources among multiple users, particularly in scenarios involving inheritance, collections, or linked ownership, without clear record-keeping and transfer mechanisms.
Innovation Solution
A system utilizing non-transitory storage and processing devices to generate electronic digital certificates associated with artifacts, store them on a distributed ledger, and manage ownership through smart contracts, enabling distribution, transfer, and insurance policies.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If ownership of artifacts is distributed among multiple users using traditional methods, then flexibility in ownership distribution is improved, but record-keeping accuracy and transfer transparency deteriorate
Solution Approach 1:
The patent creates digital copies of ownership records on a distributed ledger (blockchain). Each artifact receives a digital certificate that is a cryptographic copy of the ownership information, stored immutably across multiple nodes. This copying mechanism ensures that the flexibility of distributed ownership is maintained while eliminating record-keeping errors through cryptographic verification and consensus validation.
Solution Approach 2:
The patent introduces a smart contract intermediary that automatically manages ownership transfers and records. The smart contract acts as a mediator between users, enforcing predefined rules for ownership distribution and automatically updating the distributed ledger. This intermediary eliminates the need for manual record-keeping while maintaining flexibility in how ownership can be distributed among multiple parties.
2Device complexity
If manual tracking of ownership transfers is used, then system simplicity is improved, but transfer transparency and reliability deteriorate
Solution Approach 1:
The patent implements a self-service system where the distributed ledger and smart contracts automatically track and verify ownership transfers without human intervention. The system records all transfers immutably on the blockchain, with smart contracts automatically enforcing transfer rules and updating ownership records. This self-service approach maintains operational simplicity for users while dramatically improving transfer transparency through cryptographic verification and permanent recording.
3Reliability
If electronic digital certificates with smart contracts are implemented, then ownership management reliability is improved, but system complexity increases
Solution Approach 1:
The patent segments the ownership management system into distinct modular components: digital certificates for individual artifacts, smart contracts for transfer rules, and the distributed ledger for recording. Each component operates independently but interacts through standardized interfaces. This segmentation improves reliability by isolating failures to specific modules while managing complexity through clear separation of concerns and reusable components.
Data Source
AI summary
Systems, computer program products, and methods are described herein for the generating and tracking linked electronic digital certificates. The present invention may be configured to generate a first electronic digital certificate having first properties and being associated with a first artifact owned by a first group of users, store the first electronic digital certificate, and record first interests of the first group of users in the first electronic digital certificate. The present invention may be configured to receive a request from a second group of users to generate a second electronic digital certificate, where the request includes a subset of the first properties for generation in the second electronic digital certificate. The present invention may be configured to generate the second electronic digital certificate, record second interests of the second group of users in the second electronic digital certificate, and link the first interests and the second interests.