Integrating decentralization, the metaverse, and web 3.0 into our daily lives is a challenge that directly relates to the question of how to connect physical objects, services, and events to the digital world in a way that does not require trust. For example, blockchain, specifically cryptocurrency, is a zero-trust payment or value transfer mechanism. However, to affect our lives in the metaverse, web 3.0, or decentralized applications, the digital must be connected to the physical world without being trusted.
Currently, the answer is digitization.
However, this is problematic because any digital copy of a physical object cannot be verifiably paired with it. This means that trust is required to verify the connection between an object’s physical and digital versions, which goes against the principles of zero-trust systems like blockchain.
Black Ink Technologies, Corp.
Black Ink Technologies, Corp., also known as Black Ink Tech, has developed a solution to this problem with a patented hardware and software platform that creates a zero-trust, end-to-end, immutable connection between the physical and digital worlds. The platform assigns asset grades based on the hardware device used to record and produce the digital representation of the physical object. These grades are used to verify the authenticity of the digital asset. This allows for the creation of verifiably paired digital and physical assets on the blockchain without the need for trust.
Connecting physical and digital assets on the blockchain has numerous potential applications. For example, a digital token could be created to represent a physical property in the real estate industry. This token could be traded, bought, and sold on the blockchain, with the hardware device used to create the digital representation serving as a validator of its authenticity. This would eliminate the need for a trusted third party, such as a real estate agent or title company, in the process of buying and selling property.
The same concept could be applied to the art world, where a digital token could represent a physical piece of art. This would make it easier to authenticate and track the ownership of art, potentially increasing its value and reducing instances of fraud. The platform could also be applied in the supply chain industry to track the movement of physical goods and ensure their authenticity.
In addition to the assignment of asset grades, the platform also includes a decentralized oracle network that allows for integrating external data sources, such as sensor data, into the blockchain. This allows for the creation of smart contracts triggered by real-world events, such as the arrival of a shipment or the expiration of a warranty.
Working Process: How does it look?
With Touch Audit, the platform uses metadata points to ensure the accuracy and verifiability of the connection between the physical and digital versions of an object without the need for trust.
For example, if a user has a token that is supposed to be connected to a physical good, such as a barrel of bourbon, they can use the Touch Audit feature to verify the connection. The “where” metadata point would show the distillery’s location of where the bourbon was made, which can be easily verified through a map service like Google Maps. The “when” metadata point would show the date and time of the tokenization. The “who” metadata point would identify the biometric stakeholder responsible for the barrel, such as the master distiller, and the “what” metadata point would identify the specific barrel of bourbon the token is connected to.
Touch Audit provides a way to verify the connection between physical and digital assets without the need for trust. By using metadata points to accurately and verifiably connect physical objects, services, and events to their digital representations, Black Ink Technologies’ platform allows for the seamless integration of these assets into the blockchain, enabling their use in the metaverse, web 3.0, and decentralized applications.
Taking a look forward
Black Ink Tech offers a solution to the challenge of integrating decentralization, the metaverse, and web 3.0 within a zero-trust environment. With this significant step forward, we can transform our daily lives through this integration and open up a world of possibilities for blockchain application in the real world.
Overall, the ability to verifiably connect physical and digital assets on the blockchain has the potential to revolutionize a wide range of industries by creating a zero-trust connection between the physical and digital worlds. At the forefront of this development with its patented hardware and software platform, Black Ink Tech is poised to take the NFT world into the future. Learn more about how you can securely chain your assets to the blockchain at blackinktech.com.