Blockchain Based System for Storing Data Regarding Ownership and Value of Real Estate Shares

Abstract

Computer system and method create a verifiable record of asset ownership and asset valuation. A blockchain stores and maintains data including i) a record of a subject asset comprised of disparate sub-assets and ii) values of the subject asset and the sub-assets. A first immutable ledger of the blockchain responsively executes purchase of a fraction of the subject asset and automatically records ownership of the fraction of the subject asset for the purchasing user. A second immutable ledger provides view access to third parties for verifying the record of ownership by the purchasing user.

Description

Claims

1. A computer-implemented method of creating a verifiable record of asset ownership and asset valuation, the method comprising: storing data including i) a record of a subject asset comprised of disparate sub-assets and ii) values of the asset and the sub-assets;automatically determining current values of the sub-assets based on intrinsic characteristics of the sub-assets and market conditions;updating the stored data based on the determined current values of the disparate sub-assets;receiving, from a user through an interface, an input comprising a request to purchase a part of the asset at a price;determining, based on the stored data and the received request, a fraction of the asset equivalent to the price included in the input;executing a computer readable code stored on a first immutable ledger configured to automatically transfer ownership of the fraction of the subject asset to the user and to record on a secondary immutable ledger, a record of ownership by the user of the fraction of the subject asset; andproviding view access to the second immutable ledger, the view access enabling a third party to verify the record of ownership by the user of the fraction of the subject asset based on the second immutable ledger.

2. The method of claim 1 wherein the sub-assets are real estate assets.

3. The method of claim 1 wherein the computer readable code is a smart contract configured to allow the user to purchase the fraction of the subject asset when executed.

4. The method of claim 1 wherein the first and the second immutable ledgers are blocks in a blockchain.

5. The method of claim 4 wherein the blockchain is an Ethereum blockchain.

6. The method of claim 1 wherein the record of ownership by the user of the fraction of the subject asset comprises a unit of a cryptocurrency.

7. The method of claim 1 wherein automatically determining the current values of the sub-assets employs an algorithm configured to utilize at least one of rental data, tax data, capitalization rates when determining the current values of the disparate sub-assets.

8. The method of claim 7 wherein the algorithm determines current values of the sub-assets in real time.

9. The method of claim 1 wherein the automatically determining of the current values of the sub-assets is performed at a predefined frequency.

10. The method of claim 1 wherein the data including i) a record of a subject asset comprised of disparate sub-assets and ii) values of the asset and the sub-assets is stored on blocks in a blockchain.

11. A computer-based system providing a verifiable record of asset ownership and asset valuation, the system comprising: a memory configured to store data including i) a record of a subject asset comprised of disparate sub-assets and ii) values of the asset and the sub-assets;an interface configured to receive, from a user, an input comprising a request to purchase a part of the asset at a price;a processor configured to: automatically determine current values of the sub-assets based on intrinsic characteristics of the sub-assets and market conditions;update the stored data based on the determined current values of the disparate sub-assets; anddetermine, based on the stored data and the received request, a fraction of the asset equivalent to the price included in the input; anda first ledger that stores a computer readable code that, when executed, is configured to automatically transfer ownership of the fraction of the subject asset to the user and to record on a secondary immutable ledger, a record of ownership by the user of the fraction of the subject asset, wherein the second ledger enables a third party to verify the record of ownership by the user of the fraction of the subject asset based on view access to the second immutable ledger.

12. The system of claim 11 wherein the sub-assets are real estate assets.

13. The system of claim 11 wherein the computer readable code is a smart contract configured to allow the user to purchase the fraction of the subject asset when executed.

14. The system of claim 11 wherein the first and the second immutable ledgers are blocks in a blockchain.

15. The system of claim 14 wherein the blockchain is an Ethereum blockchain.

16. The system of claim 11 wherein the record of ownership by the user of the fraction of the subject asset comprises a unit of a cryptocurrency.

17. The system of claim 11 wherein the processor is further configured to utilizes an algorithm configured to utilize at least one of rental data, tax data, capitalization rates when determining the current values of the disparate sub-assets to automatically determine the current values of the sub-assets employs.

18. The system of claim 11 wherein the processor is further configured to utilizes the algorithm to determine current values of the sub-assets in real time.

19. The system of claim 11 wherein the processer is further configured to automatically determining of the current values of the sub-assets is performed at a predefined frequency.

20. The system of claim 11 wherein the memory is located on blocks in a blockchain.