A Method Of Distributed Management Of Electronic Documents Of Title (edt) And System Thereof

  • Published: Oct 27, 2016
  • Earliest Priority: Apr 20 2015
  • Family: 5
  • Cited Works: 0
  • Cited by: 9
  • Cites: 12
  • Additional Info: Full text
Abstract

There are provided decentralized system and method of managing electronic documents of title (EDTs). The method comprises: by an issuing node: generating a root unique object (RUO) associated with the issuing node and usable as a pointer to a blockchain maintained in the DTDB, thereby initiating for a given EDT a possession chain characterized by ID associated with the RUO (RUOID); and embedding into the given EDT a data object informative of the RUOID, and digitally signing the EDT with the embedded data object in a manner enabling an authorized holding node to verify the EDT and to extract the data object, thereby giving rise to a generated EDT; by each holding node currently being in possession of the generated EDT: transferring possession of the generated EDT to a recipient holding node being the next node to become in possession of the generated EDT, the transferring possession comprises: obtaining from the blockchain a first unique object generated by a holding node which has transferred EDT possession to the first holding node; using the first unique object to generate a second unique object which is indicative of the first unique object, specifies the recipient holding node and is includable in the blockchain; enabling including the generated next unique object into the blockchain; and forwarding the generated EDT to the recipient holding node via a digital media; by each holding node, responsive to receiving possession of the generated EDT: validating the received generated EDT; using RUO_ID embedded in the generated EDT to validate possession chain; and transferring possession of the generated EDT to recipient holding node.


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Document History
  • Publication: Oct 27, 2016
  • Application: Apr 20, 2016
    WO IL 2016050420 W
  • Priority: Apr 20, 2015
    US US 201562149896 P

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