Foundations of Blockchain

Proof of ownership

Every asset in the world is owned by some entity. Ownership of a part of an asset might not be feasible to prove, either due to the fact that part of the ownership record is missing or due to the ambiguity in the existing record's data. Although ownership is proved digitally, or by other means, by the entities, in most cases, the ownership information is not consistent across all the systems. Proving ownership by keeping a digital record is the best solution, and digital assets and identities play a huge role in this.

Digital assets, along with digital identities, provide a convenient way to claim ownership of any goods because assets are registered digitally along with the user's identity. Whenever users need to verify ...