Method and system for managing physical property information using a plurality of secure, immutable ledgers
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.
1 . A system for managing property records using a multi-ledger architecture, the 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:
store a copy of a first secure, immutable ledger having a first level of decentralization;
store a copy of a plurality of additional secure, immutable ledgers different from the first secure, immutable ledger and having a plurality of levels of decentralization;
obtain identification information for a particular property;
append the identification information for the particular property to the first secure, immutable ledger, such that the identification information is included in the first secure, immutable ledger in response to reaching a distributed consensus among a first plurality of nodes maintaining the first secure, immutable ledger;
obtain property information for the same particular property;
append respective subsets of the property information for the same particular property to the plurality of additional secure, immutable ledgers, such that the respective subsets of the property information are included in the plurality of additional secure, immutable ledgers in response to reaching a distributed consensus among additional pluralities of nodes maintaining the plurality of additional secure, immutable ledgers;
store a reference in the first secure, immutable ledger to the property information for the same particular property in the plurality of additional secure, immutable ledgers to enable cross-ledger interoperability;
identify information defects for the particular property using a machine learning model trained to identify human induced defects; and
record corrected information defects for the particular property in one of the plurality of secure, immutable ledgers,
wherein at least one of the plurality of additional secure, immutable ledgers has a lower level of decentralization than the first secure, immutable ledger, and the at least one additional secure, immutable ledger includes more data for the particular property than the first secure, immutable ledger.
2 . The system of claim 1 , wherein the first secure, immutable ledger is a public secure, immutable ledger, the plurality of additional secure, immutable ledgers include a private secure, immutable ledger, and the public secure, immutable ledger is more decentralized than the private secure, immutable ledger.
3 . The system of claim 1 , wherein to append respective subsets of the property information for the same particular property to a plurality of secure, immutable ledgers, the instructions cause the one or more processors to:
append ownership information for the same particular property to a second secure, immutable ledger; and
append one or more documents or records evidencing ownership, a contract, or an encumbrance for the same particular property to the second secure, immutable ledger or a third secure, immutable ledger.
4 . The system of claim 1 , wherein the instructions further cause the one or more processors to:
generate a smart contract configured to i) detect a trigger condition related to the particular property from one or more data streams and ii) transfer a cryptocurrency, or update information for the particular property in response to detecting the trigger condition; and
deploy the smart contract to the first secure, immutable ledger or one of the plurality of secure, immutable ledgers.
5 . The system of claim 4 , wherein the trigger condition is a transfer of the particular property and the smart contract is configured to automatically distribute payment amounts in accordance with a sale price and ownership information for the particular property, and to resolve any encumbrance for the particular property indicated in the first secure, immutable ledger or one of the plurality of secure, immutable ledgers.
6 . The system of claim 5 , wherein the encumbrance information includes one or more amounts owed to one or more parties upon the transfer of the particular property.
7 . The system of claim 1 , wherein the plurality of additional secure, immutable ledgers includes a side chain to the first secure, immutable ledger.
8 . The system of claim 1 , wherein the identification information is immutable information that uniquely identifies the particular property.
9 . The system of claim 1 , wherein the particular property is real property.
10 . The system of claim 1 , wherein the particular property is personal property.
11 . The system of claim 1 , wherein the plurality of additional secure, immutable ledgers are integrated with an Internet of Things (IoT) layer to communicate with IoT devices without requiring human-to-human or human-to-computer interaction.
12 . A method for managing property records using a multi-ledger architecture, the method comprising:
storing, by one or more processors, a copy of a first secure, immutable ledger having a first level of decentralization;
storing, by the one or more processors, a copy of a plurality of additional secure, immutable ledgers different from the first secure, immutable ledger and having a plurality of levels of decentralization;
obtaining, by the one or more processors, identification information for a particular property;
appending, by the one or more processors, the identification information for the particular property to the first secure, immutable ledger, such that the identification information is included in the first secure, immutable ledger in response to reaching a distributed consensus among a first plurality of nodes maintaining the first secure, immutable ledger;
obtaining, by the one or more processors, property information for the same particular property;
appending, by the one or more processors, respective subsets of the property information for the same particular property to the plurality of additional secure, immutable ledgers, such that the respective subsets of the property information are included in the plurality of additional secure, immutable ledgers in response to reaching a distributed consensus among additional pluralities of nodes maintaining the plurality of additional secure, immutable ledgers;
storing, by the one or more processors, a reference in the first secure, immutable ledger to the property information for the same particular property in the plurality of additional secure, immutable ledgers to enable cross-ledger interoperability;
identifying, by the one or more processors, information defects for the particular property using a machine learning model trained to identify human induced defects; and
recording, by the one or more processors, corrected information defects for the particular property in one of the plurality of secure, immutable ledgers,
wherein at least one of the plurality of additional secure, immutable ledgers has a lower level of decentralization than the first secure, immutable ledger, and the at least one additional secure, immutable ledger includes more data for the particular property than the first secure, immutable ledger.
13 . The method of claim 12 , wherein the first secure, immutable ledger is a public secure, immutable ledger, the plurality of additional secure, immutable ledgers include a private secure, immutable ledger, and the public secure, immutable ledger is more decentralized than the private secure, immutable ledger.
14 . The method of claim 12 , wherein appending respective subsets of the property information for the same particular property to a plurality of additional secure, immutable ledgers includes:
appending, by the one or more processors, ownership information for the same particular property to a second secure, immutable ledger; and
appending, by the one or more processors, one more documents or records evidencing ownership, a contract, or an encumbrance for the same particular property to the second secure, immutable ledger or a third secure, immutable ledger.
15 . The method of claim 12 , further comprising:
generating, by the one or more processors, a smart contract configured to i) detect a trigger condition related to the particular property from one or more data streams and ii) transfer a cryptocurrency or update information for the particular property in response to detecting the trigger condition; and
deploying, by the one or more processors, the smart contract to the first secure, immutable ledger or one of the plurality of secure, immutable ledgers.
16 . The method of claim 15 , wherein the trigger condition is a transfer of the particular property and the smart contract is configured to automatically distribute payment amounts in accordance with a sale price and ownership information for the particular property, and to resolve any encumbrance for the particular property indicated in the first secure, immutable ledger or one of the plurality of secure, immutable ledgers.
17 . A non-transitory computer-readable medium coupled to one or more processors and storing instructions thereon, that when executed by the one or more processors, cause the one or more processors to:
store a copy of a first secure, immutable ledger having a first level of decentralization;
store a copy of a plurality of additional secure, immutable ledgers different from the first secure, immutable ledger and having a plurality of levels of decentralization;
obtain identification information for a particular property;
append the identification information for the particular property to the first secure, immutable ledger, such that the identification information is included in the first secure, immutable ledger in response to reaching a distributed consensus among a first plurality of nodes maintaining the first secure, immutable ledger;
obtain property information for the same particular property;
append respective subsets of the property information for the same particular property to the plurality of additional secure, immutable ledgers, such that the respective subsets of the property information are included in the plurality of additional secure, immutable ledgers in response to reaching a distributed consensus among additional pluralities of nodes maintaining the plurality of additional secure, immutable ledgers;
store a reference in the first secure, immutable ledger to the property information for the same particular property in the plurality of additional secure, immutable ledgers to enable cross-ledger interoperability;
identify information defects for the particular property using a machine learning model trained to identify human induced defects; and
record corrected information defects for the particular property in one of the plurality of secure, immutable ledgers,
wherein at least one of the plurality of additional secure, immutable ledgers has a lower level of decentralization than the first secure, immutable ledger, and the at least one additional secure, immutable ledger includes more data for the particular property than the first secure, immutable ledger.
18 . The non-transitory computer-readable medium of claim 17 , wherein the first secure, immutable ledger is a public secure, immutable ledger, the plurality of additional secure, immutable ledgers include a private secure, immutable ledger, and the public secure, immutable ledger is more decentralized than the private secure, immutable ledger.
19 . The system of claim 1 , wherein to identify information defects for the particular property, the instructions further cause the one or more processors to:
monitor the first secure, immutable ledger to retrieve the identification information for the particular property from the first secure, immutable ledger;
obtain a reference to the respective subsets of the property information for the same particular property from the first secure, immutable ledger; and
monitor the plurality of additional secure, immutable ledgers to retrieve the respective subsets of the property information for the same particular property from the plurality of additional secure, immutable ledgers using the reference.