MUMBAI, India, March 13 -- Intellectual Property India has published a patent application (202641025055 A) filed by Vellore Institute Of Technology, Vellore, Tamil Nadu, on March 3, for 'a blockchain-based system for decentralized governance and lifecycle management of a physical or infrastructure asset.'
Inventor(s) include Dr. K. Ragavan; Varshan Manish; M Gokulesh; and Harish K N.
The application for the patent was published on March 13, under issue no. 11/2026.
According to the abstract released by the Intellectual Property India: "The present invention relates to a blockchain-based decentralized system for governance and lifecycle management of physical or infrastructure assets. the system generates a unique cryptographic digital identity for each asset and prevents fraudulent registration by anchoring hash references on a blockchain ledger. fractional ownership of the asset is enabled through issuance of transferable blockchain-based ownership tokens representing proportional economic and governance rights. a smart contract-driven governance engine facilitates proposal submission, token-weighted voting, quorum verification, and automatic enforcement of approved operational actions. the system further includes automated revenue distribution and proportional expenditure allocation modules that manage asset-generated income and operational costs among token holders. an immutable audit and traceability layer records asset identity, ownership transfers, governance decisions, revenue flows, and expenditure allocations, ensuring transparent, intermediary-free asset operation, financial management, and lifecycle funding across the asset's operational duration."
Disclaimer: Curated by HT Syndication.
