MUMBAI, India, Sept. 28 -- Intellectual Property India has published a patent application (202641111338 A) filed by Dharsana Dharani Vg on September 16, 2026, for Goldtrace: Digital Ownership Verification & Anti Theft Framework For Gold Assets.
Inventors include Shiva P; Harish R; Mugesh G; Sagaya Britto P; and Dharsana Dharani Vg.
The application for the patent was published on September 25, 2026, under issue no. 39/2026.
Abstract: The invention discloses GoldTrace, a system and method for preventing the unauthorized secondary resale of physical gold assets by coupling physical items to a cryptographically secure digital registry. Current resale channels suffer from a critical security vulnerability: while retailers can verify gold purity and weight, they lack mechanisms to confirm seller authorization, allowing stolen items to be easily liquidated. During initial asset onboarding, a retailer collects verified customer credentials (including Name, Date of Birth, Mobile Number, and Aadhaar ID) and binds them to a Unique Digital Identifier (such as an RFID tag, NFC tag, or micro- token) attached to the item. The system generates an official purchase receipt containing the unique ID and metadata while storing the mapped record in a secure backend database. When an item is presented for resale, a point-of-sale scanner reads the unique ID to retrieve the asset record from the central registry without exposing sensitive personal PII to the reseller. The system then automatically dispatches a time-bound One-Time Password (OTP) to the registered owner's mobile number. Transaction execution and ownership transfer are strictly conditional upon valid OTP submission. Additionally, the system provides a dedicated Police Enforcement Portal. In the event of theft, the owner reports the receipt's unique code to law enforcement, who set the global asset status to BLOCKED. Any subsequent resale attempt at a participating shop triggers an instant stolen asset flag, blocking the transaction and raising real-time alerts. By enforcing mandatory owner authorization prior to title transfer and establishing a real-time law enforcement block mechanism, the system eliminates the commercial liquidity of stolen gold assets.
Disclaimer: Curated by HT Syndication.
