Hi! I’m Dev Horn, CEO at PropBLOX. In the coming months, we will be revealing our PropBLOX blockchain technology which will allow you to create a “title record” (to secure) and a “token” (to represent) any property you own – such as cars, motorcycles, artwork, computers, smartphones, firearms, jewelry, appliances, industrial equipment – even houses and vacation homes.
Why will you want to do this? We solve these 2 problems:
1) I want to be able to prove that I own something that’s valuable to me.
2) I want to be able to transfer ownership of property I own to other people – in whole or in part.
We solve these two problems for virtually any item, object, or piece of property that can be uniquely identified (by address, serial number, physical characteristics, etc.). And we plan to do it for about the cost of a soft drink (whenever a property record is created or transferred within PropBLOX).
You just bought an expensive lawnmower – because your last one was stolen from your garage. When you called the police, you had no information about the mower. It was orange. You think it said Huskers or something like that on it. The police “take your report” and leave – leaving you with the realization that you will never see that lawnmower again. Even if the police find a storage unit full of stolen lawnmowers with yours in it, they won’t have any idea which one is yours. You hope your new lawnmower doesn’t get stolen. Thinking you should put it in a file (someday), you put the receipt on your desk where the thermal “ink” soon fades away to produce a blank white strip of paper.
You just bought an expensive lawnmower. You open your PropBLOX Property Vault on your smartphone and take a few photos of the lawnmower including a shot of the model & serial number barcodes. You also take a picture of your receipt which shows that you bought the lawnmower today; it includes all the information necessary for your warranty. You then click a button to Create a Title & Token for the lawnmower on the PropBLOX blockchain (which is “backed up” to Ethereum or Cardano) and all the information about this new piece of property is stored securely – for a fee of only about $1 USD.
Later, if your lawnmower is stolen, you have a complete record of it to give to police. If it needs warranty work, you have quick access to the receipt to prove when and where you purchased it. And, if you want to sell the lawnmower to your neighbor, just:
1. Once the transaction is complete (paid via digital payment or offline via cash),
2. Open PropBLOX and create a Bill of Sale and add it to the Title Record (for ~50 cents), and
3. Send the PropBLOX Token that represents your lawnmower to your neighbor (for about a dollar).
Your neighbor receives the PropBLOX Token for the lawnmower and puts it in his PropBLOX Property Vault – transferring the ownership (the PropBLOX Title) for the property along with its entire history (from the point that the first owner added it to PropBLOX).
PropBLOX tokens are not a cryptocurrency in the traditional sense. The PropBLOX tokens are a novel type of token that are tethered to the value of a single piece of property in the “real world”. The PropBLOX Token for a piece of property can be divided and transferred to multiple parties – so you and your friends can share the ownership of a boat, or you can sell partial ownership of your vacation cabin to a family member.
Storing and transferring all your most valuable property information (and ownership) on the blockchain is about to be possible – with PropBLOX.
Securing Property on the Blockchain™