Today, we own several high priced tech gadgets from cell phones to laptops to TVs. But the only way to prove ownership is by providing a paper or email copy of a sales receipt. It is hard to keep track of both. Paper receipts degrade over time and emails get deleted or lost in spam folders. Additionally, each device has a unique serial number stored in a database inside the manufacturer's domain. There is no easy way of verifying ownership, transferability and attaching associated data to a serial number.
But what if the devices serial numbers were stored on a public ledger?
Enter: Proofbox--the easiest way to register any physical object on the blockchain. With Proofbox, each devices serial number is be stored on the Ethereum blockchain and linked to the owner's address. Using smart contracts, the device owner can store, request, verify and transfer proof of ownership without dealing with the complexities of private keys.
First, users register the serial number on the blockchain. Once registered, they become the owner. Only the serial number is stored on the blockchain. All other details are stored within the Proofbox cloud and are only accessible to the owner. Anyone can search to find a serial number and request more details from its owner. If the owner of the device approves that request, then the information is visible to the requested person. No paper or email receipt needed!
Proofbox CEO Arun Nedun said of the MouseBelt Blockchain Accelerator partnership:
Proofbox is excited to join MouseBelt to expand their presence within the blockchain community and position its product for mass consumer adoption.
To learn more about Proofbox and see it in action visit proofbox.io.
To apply to classTwo visit mousebelt.com/apply