Method for cryptographically managing title transactions

A computer-implemented method of computer cryptography, comprising:

• receiving, by a web server communicatively connected to the Internet, a registration request from a first computing device of a first user owning an electronic or physical title, the web server including application software comprising:
• an interface module,
• an encryption engine,
• a decryption engine,
• a records database, and
• a security key management system configured to store a cryptographic key;
• generating, by the web server application software, a digital title, at least partly based on the electronic or physical title;
• generating, by the web server application software, a digital wallet having an associated public and private key pair, the digital wallet being associated with the first user, wherein the digital wallet comprises an association with a distributed consensus network, the distributed consensus network maintaining a cryptographically verifiable ledger utilizing a proof process to enforce a chronological order amongst transaction records in the cryptographically verifiable ledger;
• recording in the records database, by the web server application software, identifying information of the digital wallet and information indicating association of the first user with the digital wallet;
• encoding, by the web server application software, identifying information associated with the digital title to the digital wallet and to the distributed consensus network, wherein the encoding to the distributed consensus network comprises:
• accessing, by the web server application software, the private key associated with the digital wallet,
• generating a hash by the web server application software, by hashing the identifying information, and submitting the hash, at a submission time, to the distributed consensus network,
• signing a transaction of the distributed consensus network using the accessed private key, wherein the transaction comprises the encoded identifying information,
• receiving, via the web server application software, a public key being associated with the private key of the first user's digital wallet, and
• verifying the signing of the transaction by generating, via the web server application software, a verification hash of the identifying information using the received public key of the first user and comparing the verification hash with the hash of the identifying information at the submission time;
• maintaining, in a recipient transaction record, a first nominal transaction amount corresponding to a notification transaction indicating a transfer of title and a second nominal transaction amount corresponding to a potential future transfer of title from the second user to a third user;
• and
• transmitting, by the web server application software, a notification transaction accessible by a bank or regulatory agency where the electronic or physical title is held, the notification transaction comprising information indicating a transfer of title from the first user to the second user, and further transmitting the first nominal transaction amount along with the notification transaction.