Bitcoin could be used to Secure Assets and Propertery Titles

Razick

legendary

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Quote from: Bitcoinpro on August 16, 2014, 06:26:06 AM

Bitcoin could be used to verify ownership of assets, as secondary evidence or as a more convenient

way of transferring ownership than paperwork.

Any kind of contract can be embedded in the blockchain and as far as I understand it, digital signatures are legally recognized so I don't see any reason why not.

I describe using the process to document intellectual property, but it's not limited to that by any means: https://bitcointalksearch.org/topic/using-the-blockchain-to-document-intellectual-property-rights-730822

A service already exists for legally signing documents in the blockchain: https://blocksignit.com/

bornil267645

sr. member

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AltoCenter.com

good idea

Bitcoinpro

legendary

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And you could also buy the Title in someone else's name and hold onto the private keys so that

their is no way they can sell it without your permission either. I can see many other possible benefits

to the process, and most of them are precisely why Bitcoin is such an attractive product. I'm not going

to write them all down just have a think about it the concept of assets being assigned an no amount

of physical/network force is able to remove the assigned title.

311

full member

Activity: 230

Merit: 100

Come original.

Quote from: Bitcoinpro on August 16, 2014, 06:26:06 AM

Bitcoin could be used to verify ownership of assets, as secondary evidence or as a more convenient

way of transferring ownership than paperwork.

How? Care to elaborate or provide some examples because I'd like to know more about this?

Daniel91

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Quote from: Bitcoinpro on August 16, 2014, 06:26:06 AM

Bitcoin could be used to verify ownership of assets, as secondary evidence or as a more convenient

way of transferring ownership than paperwork.

I'm not sure that this will happen any time soon if ever.
To verify ownership of assets legal process is required, government offices are included and I doubt that they will include Bitcoin in their verification process.

MakeBelieve

hero member

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It could be but I don't think we would be able to do that in the soon to be future as Bitcoin hasn't really taken off yet.

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

Bitcoin could be used to verify ownership of assets, as secondary evidence or as a more convenient

way of transferring ownership than paperwork.

Topic: Bitcoin could be used to Secure Assets and Propertery Titles (Read 953 times)