Method and system for recording forward royalities using a distributed ledger

Abstract

To manage property records using a multi-layered hybrid distributed ledger architecture, identification information for a particular property is obtained and transmitted to at least one participant in a public distributed ledger network for a public distributed ledger layer. Ownership information for the same particular property is obtained and transmitted to at least one participant in a federated distributed ledger network for a federated distributed ledger layer. Transaction-related documents for the same particular property are obtained and transmitted to at least one participant in a private distributed ledger network for a private distributed ledger. The distributed ledger layers are different layers of a property distributed ledger each having a separate set of consensus rules for appending distributed ledger data to the respective layer. This allows for the immutable preservation of royalty terms and conditions for a property or asset using the distributed ledger.

What is claimed: 
     
         1 . A system comprising:
 one or more processors; and   a non-transitory computer-readable medium coupled to the one or more processors and storing instructions thereon, that when executed by the one or more processors, cause the one or more processors to:   identify an asset,   identify or generate a unique cryptographic hash for the asset, wherein the unique cryptographic hash is associated with the asset,   identify an encumbrance on the asset owed to a plurality of parties, and   cause a transaction comprising an indication of the asset, the encumbrance, and the unique cryptographic hash for the asset to be recorded in a secure, immutable ledger that cryptographically links transactions using cryptographic hashes.   
     
     
         2 . The system of  claim 1 , wherein the asset comprises real property, personal property, intellectual property, intangible property, tangible property, or digital property. 
     
     
         3 . The system of  claim 1 , wherein the asset comprises one or more of a sound recording, a musical score, or song lyrics. 
     
     
         4 . The system of  claim 1 , wherein the asset is a non-fungible token (NFT) or linked to the NFT. 
     
     
         5 . The system of  claim 1 , wherein the instructions further cause the one or more processors to:
 cause execution of one or more smart contracts configured to automatically perform instructions in accordance with terms and conditions of the encumbrance.   
     
     
         6 . The system of  claim 1 , wherein the instructions further cause the one or more processors to:
 cause a calculation of a split for each of the plurality of parties who are owed a percentage of the encumbrance.   
     
     
         7 . A system comprising:
 one or more processors; and   a non-transitory computer-readable medium coupled to the one or more processors and storing instructions thereon, that when executed by the one or more processors, cause the one or more processors to:   identify an asset,   identify or generate a unique cryptographic hash for the asset, wherein the unique cryptographic hash is associated with the asset,   identify a plurality of encumbrances on the asset owed to one or more parties, and   cause a transaction comprising an indication of the asset, the plurality of encumbrances, and the unique cryptographic hash for the asset to be recorded in a secure, immutable ledger that cryptographically links transactions using cryptographic hashes.   
     
     
         8 . The system of  claim 7 , wherein the asset comprises real property, personal property, intellectual property, intangible property, tangible property, or digital property. 
     
     
         9 . The system of  claim 7 , wherein the asset comprises one or more of a sound recording, a musical score, or song lyrics. 
     
     
         10 . The system of  claim 7 , wherein the asset is a non-fungible token (NFT) or linked to the NFT. 
     
     
         11 . The system of  claim 7 , wherein the instructions further cause the one or more processors to:
 cause execution of one or more smart contracts configured to automatically perform instructions in accordance with terms and conditions of the plurality of encumbrances.   
     
     
         12 . The system of  claim 7 , wherein the instructions further cause the one or more processors to:
 cause a calculation of a split for each of the one or more parties who are owed a percentage of the plurality of encumbrances.   
     
     
         13 . A method for managing encumbrances associated with assets using a secure, immutable ledger, the method comprising:
 identifying, by one or more processors, an asset,   identifying or generating, by the one or more processors, a unique cryptographic hash for the asset, wherein the unique cryptographic hash is associated with the asset,   identifying, by the one or more processors, an encumbrance on the asset owed to a plurality of parties, and   causing, by the one or more processors, a transaction comprising an indication of the asset, the encumbrance, and the unique cryptographic hash for the asset to be recorded in a secure, immutable ledger that cryptographically links transactions using cryptographic hashes.   
     
     
         14 . The method of  claim 13 , wherein the asset comprises real property, personal property, intellectual property, intangible property, tangible property, or digital property. 
     
     
         15 . The method of  claim 13 , wherein the asset comprises one or more of a sound recording, a musical score, or song lyrics. 
     
     
         16 . The method of  claim 13 , wherein the asset is a non-fungible token (NFT) or linked to the NFT. 
     
     
         17 . The method of  claim 13 , further comprising:
 causing, by the one or more processors, execution of one or more smart contracts configured to automatically perform instructions in accordance with terms and conditions of the encumbrance.   
     
     
         18 . The method of  claim 13 , further comprising:
 causing, by the one or more processors, a calculation of a split for each of the plurality of parties who are owed a percentage of the encumbrance.   
     
     
         19 . A method for managing encumbrances associated with assets using a secure, immutable ledger, the method comprising:
 identifying, by one or more processors, an asset,   identifying or generating, by the one or more processors, a unique cryptographic hash for the asset, wherein the unique cryptographic hash is associated with the asset,   identifying, by the one or more processors, a plurality of encumbrances on the asset owed to one or more parties, and   causing, by the one or more processors, a transaction comprising an indication of the asset, the plurality of encumbrances, and the unique cryptographic hash for the asset to be recorded in a secure, immutable ledger that cryptographically links transactions using cryptographic hashes.   
     
     
         20 . The method of  claim 19 , wherein the asset comprises real property, personal property, intellectual property, intangible property, tangible property, or digital property. 
     
     
         21 . The method of  claim 19 , wherein the asset comprises one or more of a sound recording, a musical score, or song lyrics. 
     
     
         22 . The method of  claim 19 , wherein the asset is a non-fungible token (NFT) or linked to the NFT. 
     
     
         23 . The method of  claim 19 , further comprising:
 causing, by the one or more processors, execution of one or more smart contracts configured to automatically perform instructions in accordance with terms and conditions of the plurality of encumbrances.   
     
     
         24 . The method of  claim 19 , further comprising:
 causing, by the one or more processors, a calculation of a split for each of one or more parties who are owed a percentage of the plurality of encumbrances.