Search

That's mine

Imagine that you wish to know with extreme certainty who the current owner of an asset is, for example because you are about to purchase it, or simply because you are looking to provide an ancillary service (e.g. warranty).

That's mine is the solution that allows anyone to register and verify the ownership of an asset.

That's mine

SCENARIO

​Countless types of assets can be identified around the world, for which it is necessary to verify the corresponding ownership. That's mine is a solution that has been designed to be potentially applied to all types of assets, both tangible and intangible. Firstly, the decision was made to develop a service dedicated to one of the specific areas in which the certification of ownership has great value associated with it: the automotive market.

Why vehicles?

  • Vehicles represent an extremely widespread asset with a high associated unit value
  • There is a significant occurrence of ownership changes associated with this asset (in Italy 3.5 million trades took place in 2014), as well as the need to verify ownership (i.e. for warranty provision, servicing, etc.)
  • A complex and demanding centralised process is currently in place (managed by the PRA – Italian Vehicle Registration Agency)
  • Inherent existence of a digital code indissolubly associated with the physical asset (e.g. license plate number, VIN number)

BLOCKCHAIN AS A SOLUTION

Imagine a system in which:

  • A smartphone and a few seconds are sufficient to register the change in ownership of an asset
  • Anyone has access to verify in real time the actual ownership of the asset
  • A single register is in place (without differences based on country, type of asset, etc.)
  • Security and prevention of potential fraud is guaranteed by design
  • Operating costs are extremely low

All this is possible thanks to the Blockchain Technology.

FOCUS ON

The fundamental idea on which the That's mine solution is based is extremely simple:

Certify any change of ownership through a Bitcoin transaction made by the seller to the buyer; The transaction contains the information relating to the vehicle identification code (i.e. license plate number or VIN number); Once the transaction is confirmed, it is entered in the unique Bitcoin register and can therefore no longer be modified, but is accessible to everyone for verification purposes.​


The current scenario - Critical aspects

Current processes associated with the management of the vehicle ownership register are undoubtedly complicated (e.g. in Italy this functionality is not available online), long (e.g. in the UK it takes approximately 10 weeks to register a change of ownership) and can vary even within the same country (e.g. in the United States each state requires different documentation).

The use cases developed

To ensure maximum usability of the solution, a mobile app was developed that takes into account 4 use cases already in operation:

  1. Vehicle registration: functionality only available to the manufacturer (identified by a dedicated profile) that allows the vehicle's first owner to be registered.
  2. Change in ownership: the current owner of the vehicle can transfer one of the cars associated with their own profile towards the buyer.
  3. Verification of the actual ownership of the vehicle: anyone may verify if the individual with whom the sale is being negotiated is the actual owner of the vehicle, simply by accessing the app and entering a passphrase that only the rightful owner can decipher as this party is in possession of the private key of the Bitcoin address to which the last transaction containing the code associated with the specific vehicle has been sent.
  4. Car scrapping: at the end of the life cycle, the owner is required to register the scrapping of the vehicle by sending a corresponding transaction to the scrap merchant (identified by a dedicated profile similar to the manufacturer profile). The scrap merchant can no longer conduct transactions related to the particular vehicle. Compliance with this rule is ensured by the blockchain itself through dedicated scripting.

The solution architecture

The current That's mine solution was developed by relying on services made available by the TestNet bitcoin blockchain instead of the standard MainNet network, in order to ensure versatility and less complexity during the development phase.In particular, the advantages of using the Testnet version are attributable to:

  • The increased speed of set-up due to lower size implications (3.5 GB for the Testnet ledger vs. 46 GB for the MainNet ledger)
  • The absence of a monetary value associated with the BTCs
  • The same level of security guaranteed by MainNet
  • The same services and scripting logic available for MainNet (in particular with regard to the free-form 40 byte OP_Return field required for logging information to associate with the transaction)

On the other hand, the back-end architecture was developed by providing a business logic layer that interfaces directly with Bitcoin TestNet via an RPC call and an APP server with a Rest API layer designed to manage the interaction with the mobile app.

SHOWCASE

BLOCKCHAIN

BLOCKCHAIN TECHNOLOGY 0
Ballotchain 0

Ballotchain

Voting: in contexts that require a high level of transparency and security, such as voting in public ballots (e.g. to express a preference in a survey), the Blockchain technology relies on crypto currencies to guarantee both the legal certainty of the vote and the transparency of the process.

Blokcom 0

Blokcom

IoT (Internet of Things): things rely on the use of the Blockchai​n technology to manage the authentication and integrity of messaging between themselves, in order to guarantee the use of a safe and reliable IoT network.

Cloudchain 0

Cloudchain

Ticketing: ticketing and couponing systems are highly complex. Furthermore, the risk of distributing counterfeit tickets is a major problem even for the more advanced and modern systems. Through the use of a web platform that exploits the specific features of Blockchain technology, it’s possible to create a secure and interoperable couponing/ticketing solution that still ensures the best possible end user experience.

Securechain 0

Securechain

SDN Security: the rise of Software-Defined Networks means that there are new ways for hackers to enter a network or system. Securechain is the solution that introduces security gateway into SDN, whilst creating a forensically auditable and unchangeable log of events. Securechain is built on the Ethereum Blockchain.

Authentichain 0

Authentichain

Secure Authentication: Authentichain is a new authentication system developed using Blockchain Technology. With Authentichain, it is possible to manage a private network of smart devices that are mutually authenticated and verified. It is also possible to easily extend the network and connect it to other networks (e.g. service providers, specialised technical support, etc.) while guaranteeing the actual identity of the parties involved and the traceability of access.

Insurechain 0

Insurechain

Insurances: over the years, complexity and costs related to the management of insurance processes have undermined the profitability of companies and inhibited the distribution of innovative insurance products. A platform was developed which, by integrating with the Ethereum Blockchain, facilitates the setting and enforcement of smart contracts for travel insurance. Insurechain is a solution that facilitates the automation of premium calculations, the management of appraisals and the settlement of certain types of claims, ensuring end-user transparency.