FRACTIONAL OWNERSHIP USING DIGITAL ASSETS

• US 20130117156A1
• Filed: 11/08/2012
• Published: 05/09/2013
• Est. Priority Date: 11/09/2011
• Status: Abandoned Application

• Current Assignee: Hooman Azmi, Reza Mazaheri, Sai Kong, Salima Popatia
• Original Assignee: Hooman Azmi, Reza Mazaheri, Sai Kong, Salima Popatia
• Inventors: Azmi, Hooman, Popatia, Salima, Mazaheri, Reza, Kong, Sai
• Application Number:
  US13/672,569
• Publication Number:
  US 20130117156A1
• Time in Patent Office: Days
• US Class Current: 705/26.35
• CPC Class Codes: G06Q 30/018 Certifying business or products
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A platform and method provided for facilitating the trading of fractional ownerships of a digital representation of an asset. In one embodiment, the method includes: identifying an original physical asset for creating a corresponding digital asset; making a digital representation of the original physical asset; authenticating the digital representation; embedding or associating the digital representation with a unique identification code; storing the digital representations on a first non-transitory computer-readable storage medium; and placing the digital representation in a market for trading.

Claims

1. A method for creating a tradable digital asset, comprising:

identifying a physical asset for creating a corresponding digital asset;

making at least one digital representation of the physical asset;

authenticating the digital representation;

embedding or associating the at least one digital representation with a unique identification code;

storing the at least one digital representation on a first non-transitory computer-readable storage medium; and

placing the at least one digital representation in a market for trading.

2. The method of claim 1, further comprising

appraising the value of the physical asset;

and

insuring the fully appraised value of the physical asset.

3. The method of claim 2, further comprising:

generating a predetermined number of digital representations of the physical asset;

selling a first digital representation to a first user on a trading portal at a market price; and

transferring the first digital representation to a second non-transitory computer-readable storage medium.

4. The method of claim 3, further comprising:

assigning each digital representation with a share value equal to the appraised value of the original physical asset divided by the predetermined number.

5. The method of claim 1, further comprising:

verifying the authenticity of a digital representation shown on a presentation medium based on the unique identification code associated with the digital representation.

6. The method of claim 1, further comprising:

applying a copy restriction feature to the at least one digital representation so that the at least one digital representation cannot be uploaded to more than one presentation medium at any one time.

7. The method of claim 3, further comprising:

transferring the first digital representation on the second non-transitory computer-readable storage medium to a third non-transitory computer-readable storage medium via the trading portal upon a sale of the digital representation by the first user to a second user.

8. The method of claim 7, further comprising:

updating an ownership record upon the sale of the first digital representation by the first user to the second user.

9. The method of claim 1, further comprising:

securing or storing the physical asset in a secured location.

10. The method of claim 1, wherein the physical asset is a piece of artwork.

11. The method of claim 1, further comprising:

issuing a certificate of authenticity for the at least one digital representation.

12. A platform for facilitating the trading of digital assets, comprising:

a processing unit configured to embed a unique identification code into a digital representation of a physical asset;

a first non-transitory computer-readable storage medium to store the digital representation;

a trading portal to sell the digital representation to a first user at a market price, and to transfer the sold digital representation to a second non-transitory computer-readable storage medium.

13. The platform of claim 12, further comprising a digitizer to generate a predetermined number of digital representations of the physical asset.

14. The platform of claim 13, wherein the processing unit is further configured to:

assign each digital representation with a share value equal to an appraised value of the original piece of artwork divided by the predetermined number.

15. The platform of claim 12, wherein the processing unit is further configured to:

verify the authenticity of a digital representation shown on a presentation medium based on the unique identification code associated with the digital representation.

16. The platform of claim 12, wherein the processing unit is further configured to:

apply a copy restriction feature to the digital representation so that the digital representation cannot be uploaded to more than one presentation medium at any one time.

17. The platform of claim 12, wherein the trading portal:

transfers the sold digital representation on the second non-transitory computer-readable storage medium to a third non-transitory computer-readable storage medium upon a sale of the digital representation by the first user to a second user.

18. The platform of claim 17, wherein the trading portal:

updates an ownership record upon selling the digital representation by the first user to the second user.

19. The platform of claim 12, wherein the trading portal:

issues a certificate of authenticity of the digital representation.