The BLOCKS Registry is a global decentralized registry used to categorize wallet to wallet commerce and tokenized trade between people, people and companies, people and governments, etc. Utilizing the Verified by BLOCKS technology, which serves as immutable authentication, people will be able to tokenize digital, physical, and institutional data. This can limit fraud and forgery issues for consumers. The registry can be seen as a utility that can serve any purpose of item, including tangible, intangible, or a hybrid of both. The team is trying to establish the proper use cases of decentralized ledger technology so trading assets like goods or assets that require government oversight like land or housing titles can be captured by tokenized commerce. The BLOCKS Registry can be seen as the “registry of truth” because it acts as a fully decentralized source of truth between people to commemorate wallet to wallet commerce.
Storing data onto the BLOCKS Registry is facilitated through the use of the BLOCKS tokens as a transaction. Users are required to use credits which can be acquired by buying and owning the BLOCKS token that allows hybrid access across different chains like Ethereum, Polygon, BLOCKS, Solana, and Gnosis. Utilizing KYC (Know Your Customer) verification, users can write data to the registry with API keys and credits. Since BLOCKS can fractionalize 18 decimal places, the credit value can vary per blockchain or per transaction request. Adjustments to the credit value can be made as the overall supply of BLOCKS is lowered through usage/burning of tokens established by the DAO. Tokenizing data on the registry will prove evidence of purchase, ownership, and of course asset authentication, which will increase transparency while removing the opportunity for fraudulent activity. The registry can be seen as a hero product line and social contribution. If one looks abroad to foreign countries, there are verbal land systems between peers where no government oversight is needed, so the registry facilitates improved levels of inbound investment, and improved visibility and agreements between people.
When it comes to the BLOCKS Registry and use cases, there really are no limits. Seen below, Alfonso Arana Sr, head of HUMBL Blockchain Services was kind enough to share some real world use cases on his Twitter. These examples include HUMBL’s Web3 mascot BLUE, a Bored Ape Yacht Club NFT showcasing the NFTs ownership history from the time it was minted to its current owner, licensing agreements, and more. Another use case below is the tokenization of a 2020 Tesla Model Y which shows the vehicle information acting in the same way the vehicle title would. Tokenizing parts that go into the cars will be extremely beneficial for verification and authenticity purposes proving that the parts going into your car, are in fact being made from the correct manufacturer. This is especially important for car batteries that are heavily regulated by the government for proper disposal. The registry can track what batteries went in the car by default, when they were changed, when they are disposed of, and when new batteries get installed in the vehicle. Lastly, housing titles can be tokenized with specific information about the house and even past history like previous sales, previous listing prices, and property tax information.
There are hundreds of use cases for blockchain technology and tokenization where the BLOCKS Registry could be utilized with the use of the BLOCKS token. Some other examples include verifying any personal credential like your driver’s license, birth certificate, social security card, health records, and even college degree or other education certifications. Another sector that will benefit from this technology is the authentication of merchandise and collectibles like shoes, clothes, jewelry, and sports memorabilia due to high amounts of forgery and scamming for unauthentic goods. The food industry and supply chain would benefit greatly by tracking food from when it gets made/grown, to when it is packaged, shipped to the store, and purchased. Think about if a recall is issued on an item and being able to check to see if that specific item is impacted instead of relying on news releases. The BLOCKS DAO, with the use of their registry, plans to impact every industry for the better.
BLOCKS Registry Simplified Cheat-Sheet
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