Cross-Blockchain Protocol for Public Registries
45 Pages Posted: 26 Feb 2020 Last revised: 13 Jul 2020
Date Written: April 24, 2020
This paper presents a concept of the protocol for public registries based on blockchain. The proposed mechanism allows creating a standard database over a bundle of distributed ledgers. It ensures a blockchain agnostic approach and utilizes the benefits of various blockchain technologies in one ecosystem. In this scheme, blockchains play the role of journal storages (immutable log), while the overlaid database is the indexed storage. The distinctive feature of such a system is that in blockchain, users can perform peer-to-peer transactions directly in the ledger using blockchain native mechanism of user access management with public-key cryptography (blockchain does not require to administrate its database). The protocol can be used to develop public property registries, i.e. land titles, cars, boats, corporate rights, etc. Users can create and manage their rights using the full power of blockchain technologies and smart contracts. The component of governance in this protocol is introduced as Smart Laws and Digital Authorities, the algorithms to manage the overlaid system and address legal issues with property rights and law enforcement.
Keywords: blockchain, electronic government, public registry, land registry, smart law, digital authority
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