Tokenized Asset Trust Chain for Physical-Digital Authenticity
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Solution Overview
Problem
Existing blockchain systems fail to provide trusted data and authenticity for off-chain transactional data representing real-world tangible assets, as they do not establish independent trust in the token's representation of the asset.
Innovation Solution
A system using two unique and random codes based on cryptographic blockchain key pairs to represent both physical and digital assets as tokens, with trust-linking data generated during the asset's lifecycle, ensuring authenticity and a complete history of activities through a trust-chain on multiple blockchains.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If off-chain transactional data is ported to blockchain, then data transparency is improved, but data trust is not automatically established
Solution Approach 1:
The patent introduces a trusted authority as an intermediary that issues certificates binding physical assets to digital tokens. This intermediary validates and attests to the authenticity of off-chain transactional data, bridging the gap between transparent blockchain data and trusted real-world asset representation. The trusted authority acts as a mediator that signs and verifies transactions, ensuring data trust while maintaining transparency.
Solution Approach 2:
The patent implements preliminary actions by requiring trusted authorities to pre-validate and certificate physical assets before they are tokenized on the blockchain. This preliminary verification establishes a trust foundation before the asset enters the blockchain system, ensuring that only authenticated assets and their associated off-chain transactional data are represented on-chain, thereby establishing data trust proactively.
2Device complexity
If a single code represents both physical and digital assets, then system complexity is reduced, but trust linkage between physical and digital versions is weakened
Solution Approach 1:
The patent segments the representation system into two distinct codes: a private code for physical assets and a public code for digital tokens. This segmentation allows each code to serve its specific function while maintaining a verifiable relationship through cryptographic linking. The private code enables offline verification of physical assets, while the public code facilitates on-chain transactions, together establishing robust trust linkage without excessive complexity.
Solution Approach 2:
The trusted authority serves as an intermediary that issues and manages the code pair, linking physical and digital representations. The authority signs and verifies transactions using both codes, establishing a trusted bridge between the physical asset realm and the digital token realm. This intermediary ensures that the simplified single-code approach doesn't compromise trust linkage.
Data Source
AI summary
In one or more embodiments, the present invention provide a system that uses two unique and random codes based on cryptographic blockchain key pairs to represent both the physical asset (private code) and the digital or virtual asset (public code) as a token. In various embodiments, these codes are initially recoded and associated to assets by a known trusted authority and all subsequent data generated by the movement, use, manipulation, and exchange of the asset during its whole lifecycle can be trust-linked (forwards and backwards) using either the tokenized digital version or the physical version, independently from the SAME trust-chain of data recorded on blockchains.