Systems and methods for maintaining transferability of title via blockchain
US10832214B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 20, 2018 |
| Grant date | Nov 10, 2020 |
| Priority date | — |
| Expiry date | Sep 3, 2038 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04W12/71
- WIPO fieldDigital communication
- WIPO sectorElectrical engineering
Abstract
The present embodiments relate to systems and methods for using a blockchain to record information related to the lifecycle of a vehicle associated with a Vehicle Identification Number (VIN), or other vehicle identifier. For example, the VIN lifecycle process may be used to ensure the transferability of title, including when information relevant to transferability is not easily determinable, such as after a collision occurs. The systems and methods may include the reception of a mileage report corresponding to a vehicle and updating a blockchain to associate the vehicle with mileage information. The systems and methods described herein may allow for using a blockchain which gives the option for private information, and permissioned participants in the blockchain. In particular, the systems and methods allow for a distributed consensus amongst businesses, consumers, and authorities, as to the validity of information and transactions stored on the blockchain.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.