Systems and methods for tracking and transferring ownership of connected devices using blockchain ledgers

A computer-implemented method, comprising:

• obtaining, by at least one processor, from a data repository, a data block of a blockchain ledger, the data block comprising a first data portion, a second data portion, and information associated at least one asset, the at least one asset comprising a connected device;
• obtaining, by at least one processor, a master cryptographic key associated with a rules authority from a secure data repository;
• decrypting, by the at least one processor, the first data portion using a private cryptographic key associated with the connected device, and decrypting the second data portion using the master cryptographic key associated with the rules authority;
• identifying, by the at least one processor, a plurality of events based on the decrypted first data portion, and identifying a plurality of rules associated with the plurality of events based on the decrypted second data portion;
• detecting, by the at least one processor, and based on the information and on the decrypted first data portion, an occurrence of a first one of the plurality of events associated with the connected device;
• identifying, by the at least one processor, and based on the decrypted second data portion, at least one of the plurality of rules that is associated with the first one of the plurality of events;
• based on the identified at least one of the plurality of rules, generating by the at least one processor, a first electronic command that initiates a transfer of an ownership interest in the connected device from a first party to a second party;
• and
• generating, by the at least one processor, an additional data block of the blockchain ledger, the additional data block comprising the first data portion, the second data portion, and at least one parameter value of the transfer.

A tangible, non-transitory computer-readable medium having storing software instructions that, when executed by at least one processor, cause the at least one processor to perform a method, comprising:

• obtaining, from a data repository, a data block of a blockchain ledger, the data block comprising a first data portion, a second data portion, and information associated with at least one asset, the at least one asset comprising a connected device;
• obtaining a master cryptographic key associated with a rules authority from a secure data repository;
• decrypting the first data portion using a private cryptographic key associated with the connected device, and decrypting the second data portion using the master cryptographic key of the rules authority;
• identifying a plurality of events based on the decrypted first data portion, and identifying a plurality of rules associated with the plurality of events based on the decrypted second data portion;
• detecting, based on the information and the decrypted first data portion, an occurrence of a first one of the plurality of events associated with the connected device;
• identifying, based on the decrypted second data portion, at least one of the plurality of rules that is associated with the first one of the plurality of events;
• based on the identified at least one of the plurality of rules, generating an electronic command that initiates a transfer of an ownership interest in the connected device from a first party to a second party;
• and
• generating an additional data block of the blockchain ledger, the additional data block comprising the first data portion, the second data portion, and at least one parameter value of the transfer.