Invention Grant
- Patent Title: Systems and methods for maintaining transferability of title via blockchain
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Application No.: US17989850Application Date: 2022-11-18
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Publication No.: US12088692B2Publication Date: 2024-09-10
- Inventor: William J. Leise , Douglas A. Graff , Stacie A. McCullough , Shawn M. Call , Eric Bellas , Jaime Skaggs , Jacob J. Alt , Eric R. Moore , Vicki King
- Applicant: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
- Applicant Address: US IL Bloomington
- Assignee: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
- Current Assignee: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
- Current Assignee Address: US IL Bloomington
- Agency: MARSHALL, GERSTEIN & BORUN LLP
- Main IPC: H04L29/06
- IPC: H04L29/06 ; G06F16/901 ; G06F21/60 ; G06Q10/10 ; G06Q10/20 ; G06Q30/018 ; G06Q30/02 ; G06Q40/02 ; G06Q40/03 ; G06Q40/08 ; G07C5/00 ; G07C5/08 ; H04L9/06 ; H04L9/30 ; H04L9/32 ; G01C22/00 ; H04L9/00

Abstract:
The present embodiments relate to systems and methods for using a blockchain to record information related to the lifecycle of a vehicle associated with a Vehicle Identification Number (VIN), or other vehicle identifier. For example, the VIN lifecycle process may be used to ensure the transferability of title, including when information relevant to transferability is not easily determinable, such as after a collision occurs. The systems and methods may include the reception of a mileage report corresponding to a vehicle and updating a blockchain to associate the vehicle with mileage information. The systems and methods described herein may allow for using a blockchain which gives the option for private information, and permissioned participants in the blockchain. In particular, the systems and methods allow for a distributed consensus amongst businesses, consumers, and authorities, as to the validity of information and transactions stored on the blockchain.
Public/Granted literature
- US20230082163A1 SYSTEMS AND METHODS FOR MAINTAINING TRANSFERABILITY OF TITLE VIA BLOCKCHAIN Public/Granted day:2023-03-16
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