Patent 2: Blockchain-Based Escrow Locker
Patent 2: Blockchain-Based Escrow Locker for Secure Digital Title Certificate Transactions . USPTO Patent Filing #18/398,973
The Escrow Locker enhances trust and security in blockchain-based digital title certificate (DTC) transactions. It employs a multi-signature wallet, requiring validation from the buyer, seller, and a third-party escrow agent, whether human or AI. Smart contracts within the Escrow Locker facilitate precise transaction specifications, including participant wallet addresses, KYC/AML validation, DTC details, purchase price, transfer method, and dispute resolution mechanisms. This invention also addresses data privacy, integration with existing systems, smart contract auditing, insurance, decentralization, and regulatory adaptation.
Claims
1. A system for secure blockchain-based digital title certificate (DTC) transactions, comprising:
a. an escrow locker module configured to convert traditional tickets into secure digital assets protected by cryptographic public/private keys;
b. a blockchain platform for deploying said secure digital assets as smart digital contracts;
c. a self-policing escrow mechanism integrated within said smart digital contracts, enabling enhanced control over said secure digital assets after leaving the possession of ticket issuers;
d. specific capabilities incorporated into said secure digital assets to provide an increased level of multiple ownership, security granularity, and sales restrictions in ticket transactions.
2. The system of claim 1, wherein said escrow locker module further comprises:
a. a conversion module for converting traditional tickets into secure digital assets;
b. a cryptographic module for generating cryptographic public/private keys for protecting said secure digital assets;
c. a storage module for securely storing said secure digital assets and associated cryptographic keys.
3. The system of claim 1, wherein said blockchain platform further comprises:
a. a distributed ledger for recording and validating transactions involving said secure digital assets;
b. a consensus mechanism for ensuring transparency and trustworthiness in said transactions.
4. The system of claim 1, wherein said self-policing escrow mechanism further comprises:
a. an automated enforcement module for monitoring and enforcing the terms and conditions specified in said smart digital contracts;
b. a dispute resolution module for resolving conflicts and disputes arising during the transaction process.
5. The system of claim 1, wherein said specific capabilities incorporated into said secure digital assets further comprise:
a. a multiple ownership feature allowing multiple parties to have shared ownership of said secure digital assets;
b. a security granularity feature enabling fine-grained control over access and permissions to said secure digital assets;
c. a sales restriction feature imposing limitations on the transfer and sale of said secure digital assets.
6. A method for conducting secure blockchain-based digital title certificate (DTC) transactions, comprising:
a. converting traditional tickets into secure digital assets protected by cryptographic public/private keys;
b. deploying said secure digital assets as smart digital contracts on a blockchain platform;
c. integrating a self-policing escrow mechanism within said smart digital contracts to enable enhanced control over said secure digital assets after leaving the possession of ticket issuers;
d. incorporating specific capabilities into said secure digital assets to provide an increased level of multiple ownership, security granularity, and sales restrictions in ticket transactions.
7. The method of claim 6, further comprising:
a. generating cryptographic public/private keys for protecting said secure digital assets;
b. securely storing said secure digital assets and associated cryptographic keys.
8. The method of claim 6, further comprising:
a. recording and validating transactions involving said secure digital assets on a distributed ledger;
b. ensuring transparency and trustworthiness in said transactions through a consensus mechanism.
9. The method of claim 6, further comprising:
a. monitoring and enforcing the terms and conditions specified in said smart digital contracts through an automated enforcement module;
b. resolving conflicts and disputes arising during the transaction process through a dispute resolution module.
10. The method of claim 6, further comprising:
a. enabling multiple parties to have shared ownership of said secure digital assets through a multiple ownership feature;
b. providing fine-grained control over access and permissions to said secure digital assets through a security granularity feature;
c. imposing limitations on the transfer and sale of said secure digital assets through a sales restriction feature.
Illustrations
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