Abstract
This paper presents a concept of the protocol for public registries based on block-chain. The proposed mechanism allows creating a standard database over a bun-dle 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 us-ing blockchain native mechanism of user access management with public-key cryptography (blockchain does not require to administrate its database). The pro-tocol is designed for public property registries, i.e., land titles, cars, boats, corpo-rate rights, etc. Users can create and manage their rights using the full power of blockchain technologies and smart contracts. The governance component 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.
Published Version
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