System and method for decentralized title recordation and authentication

Abstract

A decentralized property system and method allow ownership rights to be transferred directly from one party to another without requiring a central authority to operate or secure the system. Digital signatures provide a method to issue and transfer titles (“bitmarks”) within the system. Using a blockchain algorithm, distributed consensus on asset ownership can be achieved.

1 . A method for recording ownership rights in an asset, the method comprising:
 using a computing device having a user interface, generating an asset record having a fingerprint comprising a hash of a digital representation of the asset, a public key of a client who generates the asset record, and a digital signature comprising a private key of the creating client;   using the computing device, communicating with one or more nodes of a peer-to-peer network to generate an entry in a public ledger by performing the steps of:
 generating at least one issue record comprising a double hash of the fingerprint, the public key of the creating client, and an owner signature comprising a hash of the digital signature of the creating client with the double hashed fingerprint and the public key of the creating client; and 
 displaying the at least one issue record on the public ledger. 
   
     
     
         2 . The method of  claim 1 , wherein the asset is digital property. 
     
     
         3 . The method of  claim 2 , wherein the digital property is selected from the group consisting of music, video, electronic books, digital photographs, digital images, and personal data. 
     
     
         3 . The method of  claim 1 , wherein the asset is physical property, and further comprising generating a digital fingerprint corresponding to the physical property using a local image of a region of interest on a surface of the physical property. 
     
     
         4 . The method of  claim 3 , wherein the local image is a photometric stereo image. 
     
     
         5 . The method of  claim 4 , further comprising using the computing device for:
 identifying local interest points within the photometric stereo image using a keypoint detector; and   encoding the local interest points as a binary string using a binary descriptor;   
       wherein the binary string comprises the digital representation of the asset. 
     
     
         6 . The method of  claim 1 , further comprising:
 generating a first transfer record for recording a transfer of the asset to a new owner, wherein the transfer record comprises a double hash of a complete issue record for the asset and a public key of the new owner, wherein the transfer record is digitally signed by the owner signature;   communicating the first transfer record to the one or more nodes of the peer-to-peer network;   executing within the one or more nodes a blockchain algorithm to generate a distributed consensus of ownership of the asset associated with the owner signature to validate the first transfer record; and   if the first transfer record is validated, displaying the transfer record on the public ledger; and   if the first transfer record is not validated, rejecting the transfer record.   
     
     
         7 . The method of  claim 6 , further comprising, after the step of generating the first transfer record:
 displaying at the user interface a payment request;   determining whether a user payment has been remitted before proceeding with the step of executing.   
     
     
         8 . The method of  claim 5 , wherein the double hash of the complete issue record comprises a SHA-256 hash to generate a 32 byte Link. 
     
     
         9 . The method of  claim 5 , further comprising:
 generating a subsequent transfer record for recording a transfer from a prior owner to a subsequent new owner, wherein the subsequent transfer record comprises a double hash of a prior transfer record, and a public key of the subsequent new owner, wherein the subsequent transfer record is digitally signed by the prior owner;   communicating the subsequent transfer record to the one or more nodes of the peer-to-peer network;   executing within the one or more nodes a blockchain algorithm to generate a distributed consensus of ownership of the asset associated with the owner signature to validate the subsequent transfer record; and   if the subsequent transfer record is validated, displaying the subsequent transfer record on the public ledger; and   if the subsequent transfer record is not validated, rejecting the subsequent transfer record.   
     
     
         10 . The method of  claim 9 , further comprising, after the step of generating the subsequent transfer record:
 displaying at the user interface a payment request; and   determining whether a user payment has been remitted before proceeding with the step of executing.   
     
     
         11 . The method of  claim 1 , wherein the at least one issue record comprises multiple issue records, and wherein each issue record includes a different nonce. 
     
     
         12 . The method of  claim 11 , wherein each issue record is associated with a separate blockchain. 
     
     
         13 . The method of  claim 1 , wherein the double hash of the fingerprint comprises a SHA-512 hash to generate a 64 byte AssetRecord. 
     
     
         14 . The method of  claim 1 , wherein the computing device is a desktop or laptop computer connected to the web, or a mobile device. 
     
     
         15 . A system for recording ownership rights in an asset, the system comprising:
 a client computing device configured for generating an asset record having a fingerprint comprising a hash of a digital representation of the asset, a public key of a client who generates the asset record, and a digital signature comprising a private key of the creating client, the client computing device having a user interface;   a peer-to-peer network comprising one or more nodes in communication with the client computing device to generate an entry in a public ledger by performing the steps of:
 generating at least one issue record comprising a double hash of the fingerprint, the public key of the creating client, and an owner signature comprising a hash of the digital signature of the creating client with the double hashed fingerprint and the public key of the creating client; and 
 displaying the at least one issue record on the public ledger. 
   
     
     
         16 . The system of  claim 15 , wherein the asset is digital property. 
     
     
         17 . The system of  claim 16 , wherein the digital property is selected from the group consisting of music, video, electronic books, digital photographs, digital images, and personal data. 
     
     
         18 . The system of  claim 15 , wherein the asset is physical property, and wherein the client computing device is further in communication with a photometric stereo device configured for generating a digital fingerprint corresponding to the physical property using a local image of a region of interest on a surface of the physical property. 
     
     
         19 . The system of  claim 18 , wherein the photometric stereo device is configured for:
 identifying local interest points within the photometric stereo image using a keypoint detector; and   encoding the local interest points as a binary string using a binary descriptor;   wherein the binary string comprises the digital representation of the asset.   
     
     
         20 . The system of  claim 15 , wherein the client computing device and the peer-to-peer network are further configured for communicating for:
 generating a first transfer record for recording a transfer of the asset to a new owner, wherein the transfer record comprises a double hash of a complete issue record for the asset and a public key of the new owner, wherein the transfer record is digitally signed by the owner signature;   using a blockchain algorithm to generate a distributed consensus of ownership of the asset associated with the owner signature to validate the first transfer record; and   if the first transfer record is validated, displaying the transfer record on the public ledger; and   if the first transfer record is not validated, rejecting the transfer record.   
     
     
         21 . The system of  claim 20 , wherein the client computing device and the peer-to-peer network are further configured for, after generating the first transfer record:
 displaying at the user interface a payment request; and   determining whether a user payment has been remitted before proceeding to the step of executing.   
     
     
         22 . The system of  claim 21 , wherein the double hash of the complete issue record comprises a SHA-256 hash to generate a 32 byte Link. 
     
     
         23 . The system of  claim 21 , further comprising:
 at least one second client computing device in communication with the at least one node of the peer-to-peer network for generating a subsequent transfer record for recording a transfer from a prior owner to a subsequent new owner, wherein the subsequent transfer record comprises a double hash of a prior transfer record, and a public key of the subsequent new owner, wherein the subsequent transfer record is digitally signed by the prior owner;   wherein the at least one second client computing device and the peer-to-peer network are further configured for:   communicating the subsequent transfer record to the one or more nodes of the peer-to-peer network;   executing within the one or more nodes a blockchain algorithm to generate a distributed consensus of ownership of the asset associated with the owner signature to validate the subsequent transfer record; and   if the subsequent transfer record is validated, displaying the subsequent transfer record on the public ledger; and   if the subsequent transfer record is not validated, rejecting the subsequent transfer record.   
     
     
         24 . The system of  claim 23 , wherein the client computing device and the peer-to-peer network are further configured for, after generating the subsequent transfer record:
 displaying at the user interface a payment request; and   determining whether a user payment has been remitted before proceeding to the step of executing.   
     
     
         25 . The system of  claim 23 , wherein the at least one second client computing device is a desktop or laptop computer connected to the web, or a mobile device. 
     
     
         26 . The system of  claim 15 , wherein the at least one issue record comprises multiple issue records, and wherein each issue record includes a different nonce. 
     
     
         27 . The system of  claim 26 , wherein each issue record is associated with a separate blockchain. 
     
     
         28 . The system of  claim 15 , wherein the double hash of the fingerprint comprises a SHA-512 hash to generate a 64 byte AssetRecord. 
     
     
         29 . The system of  claim 15 , wherein the client computing device is a desktop or laptop computer connected to the web, or a mobile device.