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Blockchain soon will replace the old “Registry”

Any asset can be irreversibly registered creating a record that cannot be manipulated

In most cases, register refers to the act of recording an event, transaction, name, or other information, or an aggregation of stored data, usually containing past events, transactions, names, or other information. It usually is an aggregation of stored data, or a record of charges. It usually refers to the process of inputting information into a record, or an official list, that creates a document of various useful data in an organized fashion

The purpose of register is to organize record keeping and ensure there is an efficient system for keeping and passing on information. It is a historical record and can be used for checking any information accurately at any instance of time. It contains a complete record of the important events that occurs during the session. A local government–generally at the county, town, or state level–maintains a list of all real estate deeds and other land titles in a register of deeds which lists the owner of record and any transfers of property.

Times are however changing. The city of South Burlington received its first ever blockchain-recorded property deed at the beginning of 2022 legalised by a long string of letters and numbers and a QR code. With this information any person can find the property deed’s location on the Ethereum blockchain. Ethereum is a cryptocurrency that runs on the decentralized public ledger technology called blockchain.

A blockchain is a global network of thousands or even millions of computers or “nodes.” Each node in the network tracks and records every transaction. Every time you buy or sell crypto currency, the transaction is recorded in a shared database known as a ledger. Before a “block” of encrypted data can be added to the ledger, most computers in the network must solve complex mathematical puzzles to verify the accuracy of the data. Once that’s happened, the block is “chained” to previous blocks recording earlier transactions, all the way back to the very first transaction.

Because the computational work needed to verify transactions is so great, no individual or group can add fraudulent transactions to the blockchain. So, authenticity is never an issue. Blockchain technology can also be used for other things like the property deed in South Burlington. You can establish who owns which asset or media. It is recorded who created a unique digital work as well as every time it changed hands a digital record is created on the Blockchain going forward. You can establish a trustworthy inherent record of a work’s provenance which is and will remain unfalsifiable.

An emerging art collective on the French Riviera already apply blockchain technology. For each "Once in a Lifetime Impressionist Art Installation". If they are commissioned for a Art Installation, a Unique Identifying Signature code is created and recorded it in the Art Installation Registry on the blockchain to provide proof of authenticity and to manifest their work of art and performance is to be considered unique and authentic.

The Provenance Registry is a secure digital, but publicly accessible record. Access to the Provenance Registry requires an onboarding and verification process. Any verification will create an additional record which will be added to update the relevant Art Installation record.

Digital processes are obviously much faster than any paper-based system. Because it online and publicly available and designed for security it is also considered to be transparent. Blockchain technology can also be used to record any kind of information. It is the emerging technology considered to replace any paper-based contracts, or registries for recording ownership of property or assets changing hands.

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