Digital asset management
A method, system, and non-transitory computer-readable medium are provided for issuing a vehicle title that guards against title washing by utilizing blockchain technology. The method includes determining a Global Asset Registry Ledger (GRL) entry for the vehicle title and obtaining a Predictive Validation Index (PVI) value based on the GRL entry. The title registration process is performed using the PVI value, which involves instantiating, deploying, and executing a plurality of smart contracts on a title issuance authority blockchain network. These smart contracts are deployed by digitally signing with a cryptographic private key and are executed to commit the transaction based on proof of attestation policies, resulting in the issuance of the vehicle title. The system further facilitates verifying the authenticity of the title and determining the owner of the vehicle through blockchain queries.
1. A method for issuing a title for a vehicle that guards against title washing, the method comprising:
determining a global asset registry ledger (GRL) entry for the title of the vehicle;
obtaining a predictive validation index (PVI) value based on the GRL entry; and
performing a title registration process to register the title of the vehicle based on the PVI value,
wherein the title registration process includes:
instantiating a plurality of smart contracts that commit a transaction for the title of the vehicle;
deploying the plurality of smart contracts by digitally signing the plurality of smart contracts with a cryptographic private key not assigned to a user in response to establishing a proof of claim to the vehicle,
executing the plurality of smart contracts on a title issuance authority blockchain network hosted by an issuance authority based on with proof of attestation policies associated with the vehicle, wherein the executing commits the transaction, and
issuing the title to the vehicle in response to the transaction being committed.
2. The method of claim 1 , wherein the title of the vehicle is issued for a first time.
3. The method of claim 1 , wherein the title of the vehicle is issued when the vehicle is sold from another individual to the user.
4. The method of claim 1 , wherein the executing is performed in response to invoking a service discovery that identifies availability of an on-line certified attesting peer nodes to attest to the transaction in accordance with the proof of attestation policies associated with the vehicle.
5. The method of claim 4 , wherein the invoking includes the on-line certified attesting peer nodes verifying the transaction.
6. The method of claim 4 , wherein the on-line certified attesting peer nodes verify the transaction based on domain-specific knowledge that is not stored in the title issuance authority blockchain network.
7. The method of claim 1 , further comprising:
receiving a request to verify an authenticity of the title to the vehicle; and
authenticating the title of the vehicle in response to the request.
8. The method of claim 1 , further comprising:
receiving a request to determine an owner of the title to the vehicle;
querying the title issuance authority blockchain network to determine the owner of the title to the vehicle of the title to the vehicle; and
responding to the request with the owner of the vehicle determined by the querying.
9. A system for issuing a title for a vehicle that guards against title washing, the system comprising:
a memory;
a communication interface;
and one or more processors that are communicatively coupled to the memory and the communication interface, wherein the one or more processors are collectively configured to:
determine a global asset registry ledger (GRL) entry for the title of the vehicle;
obtain a predictive validation index (PVI) value based on the GRL entry; and
perform a title registration process to register the title of the vehicle based on the PVI value,
wherein the title registration process includes:
instantiating a plurality of smart contracts that commit a transaction for the title of the vehicle;
deploying the plurality of smart contracts by digitally signing the plurality of smart contracts with a cryptographic private key not assigned to a user in response to establishing a proof of claim to the vehicle,
executing the plurality of smart contracts on a title issuance authority blockchain network hosted by an issuance authority based on with proof of attestation policies associated with the vehicle, wherein the executing commits the transaction, and
issuing the title to the vehicle in response to the transaction being committed.
10. The system of claim 9 , wherein the title of the vehicle is issued for a first time.
11. The system of claim 9 , wherein the title of the vehicle is issued when the vehicle is sold from another individual to the user.
12. The system of claim 9 , wherein the executing is performed in response to invoking a service discovery that identifies availability of an on-line certified attesting peer nodes to attest to the transaction in accordance with the proof of attestation policies associated with the vehicle.
13. The system of claim 12 , wherein the service discovery includes the on-line certified attesting peer nodes verifying the transaction.
14. The system of claim 13 , wherein the on-line certified attesting peer nodes verify the transaction based on domain-specific knowledge that is not stored in the title issuance authority blockchain network.
15. The system of claim 9 , wherein the one or more processors are further collectively configured to:
receive a request to verify an authenticity of the title to the vehicle; and
authenticate the title of the vehicle in response to the request.
16. The system of claim 9 , wherein the one or more processors are further collectively configured to:
receive a request to determine an owner of the title to the vehicle; and
query the title issuance authority blockchain network to determine the owner of the title to the vehicle of the title to the vehicle; and
respond to the request with the owner of the vehicle determined by the querying.
17. A non-transitory computer readable storage medium storing instructions for issuing a title for a vehicle that guards against title washing, the instructions when executed by one or more processors cause the one or more processors to collectively execute a method comprising:
determining a global asset registry ledger (GRL) entry for the title of the vehicle;
obtaining a predictive validation index (PVI) value based on the GRL entry; and
performing a title registration process to register the title of the vehicle based on the PVI value,
wherein the title registration process includes:
instantiating a plurality of smart contracts that commit a transaction for the title of the vehicle;
deploying the plurality of smart contracts by digitally signing the plurality of smart contracts with a cryptographic private key not assigned to a user in response to establishing a proof of claim to the vehicle,
executing the plurality of smart contracts on a title issuance authority blockchain network hosted by an issuance authority based on with proof of attestation policies associated with the vehicle, wherein the executing commits the transaction, and
issuing the title to the vehicle in response to the transaction being committed.
18. The non-transitory computer readable storage medium of claim 17 , wherein the title of the vehicle is issued for a first time or the title of the vehicle is issued when the vehicle is sold from another individual to the user.
19. The non-transitory computer readable storage medium of claim 17 , wherein the method further comprises:
receiving a request to verify an authenticity of the title to the vehicle; and
authenticating the title of the vehicle in response to the request.
20. The non-transitory computer readable storage medium of claim 17 , wherein the method further comprises:
receiving a request to determine an owner of the title to the vehicle;
querying the title issuance authority blockchain network to determine the owner of the title to the vehicle of the title to the vehicle; and
responding to the request with the owner of the vehicle determined by the querying.