20240028706. Secure Environment Public Register (SEPR) simplified abstract (IDEAL INNOVATIONS INC.)
Contents
Secure Environment Public Register (SEPR)
Organization Name
Inventor(s)
Robert William Kocher of McLean VA (US)
Douglas Earl Dyer of Herndon VA (US)
John Shelly Bowling, Ii of Reston VA (US)
Secure Environment Public Register (SEPR) - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240028706 titled 'Secure Environment Public Register (SEPR)
Simplified Explanation
The abstract describes a patent application for a secure environment public register (SEPR) that allows for the certification, secure movement, and transfer of ownership of precious metals, such as gold, through the use of a blockchain system. The SEPR provides a method and system for numbering and linking precious metal bars to their owners, enabling secure movement between facilities and secure transfer of ownership between individuals and organizations. The system also allows for exact audits of the metal bars on hand and prevents over-selling by documenting ownership in a public register.
- The SEPR provides a method and system for certifying and numbering precious metal bars or units, ensuring exact linkage to their owners.
- The system allows for secure movement of precious metals between secure facilities.
- The use of blockchain technology enables secure transfer of ownership between individuals and organizations.
- The SEPR system allows for easy holding and trading of precious metals in commerce, providing all the advantages of holding such metals.
- The system enables exact audits of the metal bars on hand, preventing over-selling by documenting ownership in a public register.
Potential Applications:
- Precious metal trading and commerce
- Secure storage and movement of precious metals
- Ownership transfer of precious metals
Problems Solved:
- Lack of secure and transparent methods for certifying and transferring ownership of precious metals
- Difficulty in auditing and preventing over-selling of precious metal units
Benefits:
- Secure and transparent certification and transfer of ownership
- Easy holding and trading of precious metals
- Exact audits of metal bars on hand
- Prevention of over-selling units
Original Abstract Submitted
a secure environment public register (sepr) provides a method and system that allows precious metals in the shape of bar(s) or units to be certified, specially numbered to provide exact linkage to an owner, allow secure movement of precious metals between secure facilities, and though blockchain allow secure transfer of ownership between individuals and organizations. the sepr allows gold and other precious metals to be easily held and traded in commerce with all the advantages of holding precious metals. the sepr system allows exact audits of the metal bars on hand and avoids over-selling units since each bar is serialized and ownership is documented in a public register.
