MUMBAI, India, Nov. 7 -- Intellectual Property India has published a patent application (202517058198 A) filed by Steel American Luxury Llc; and Steel, Nicole, Winnetka, U.S.A., on June 17, for 'blockchain-based asset authentication methods and systems.'
Inventor(s) include Steel, Nicole.
The application for the patent was published on Nov. 7, under issue no. 45/2025.
According to the abstract released by the Intellectual Property India: "Systems and methods for blockchain-based asset authentication are described. The disclosed embodiments leverage the traceability and immutability of blockchains (or distributed ledgers, in general) to enable the authentication and ownership of assets, e.g., luxury goods. In an example, this is achieved by first pairing an authentication chip with a physical product, and writing a transaction correlated with the first pairing to a blockchain. The product being acquired (reacquired) results in the blockchain being updated (e.g., an updated transaction being written to the blockchain) and the (subsequent) owner being provided with a digital passport that can be added to the owner's digital Web3 wallet. The described embodiments advantageously enable digital identities to be associated with physical goods, which adds value for customers making a long-term investment in a luxury good, and promotes sustainability and transparency in manufacturing and retail processes."
The patent application was internationally filed on Nov. 30, 2023, under International application No.PCT/US2023/081967.
Disclaimer: Curated by HT Syndication.
