Registry Blocks is a fraud prevention platform, based on blockchain technology for decentralized registration of items and documents.
Registry Blocks Technology links any registered item or document to a UniqueID in the Ethereum blockchain database. This opens up endless opportunities, especially in fraud prevention, which Registry Blocks will utilize as explained in this document. By offering a free, intuitive, multi-purpose environment, Registry Blocks commercializes its blockchain technology to real-world users.
By utilizing this UniqueID, Registry Blocks enables anyone to register any item with a serial number or Radio Frequency ID (RFID) chip to their personal account. This method assumes ownership of the product at the time of registration because the UniqueID will be linked to a personal account. The link between a registered item and an account will always be proven in the Ethereum blockchain.
The unique item ID is transferable to other accounts through the Registry Blocks platform. To enable document registry, Registry Blocks will supply every registered document with a unique serial number. The decentralized Registry Blocks database can be consulted to check if a serial number or RFID is already linked to an account.
Much like car registrations, the combination of the unique item ID and the database registration opens up multiple solutions for persistent problems regarding ownership, item authenticity, fraud and theft prevention.
Modern day products of value are almost without exception outfitted with an individual serial number. The incredibly strong global market adoption of smart home products connected to the “Internet of Things”, increases the amount of registerable products even more.