Proving an Asset Exists

A record is only useful if the asset it describes is real, is where the record says it is, and is the same asset that was documented. Proof of existence is the step that ties the record to the thing itself. How it is done depends on the kind of asset.

Property and land

A certified professional visits the site, captures geotagged imagery, matches the boundaries to the recorded survey and documents the condition of the land and buildings. For farmland, timber and mineral rights, production records, timber inventories and royalty statements show that the land is producing what the owner says it does.

Unique objects

For art, gems, jewelry and other collectibles, a certified professional examines, photographs and scans the object, capturing a physical fingerprint of its surface, and a conservator records its condition. When the object enters a vault or freeport, the fingerprint is checked again, so the record can show that the object in custody is the object that was documented.

Vehicles, yachts and aircraft

The chassis, hull or serial number is matched against the title and the registry, and specialist inspectors or surveyors report on condition. Logbooks, maintenance records and, for aircraft, flight hours show the asset's history, and storage or operating agreements show where it is kept.

Wine and spirits

Labels and certificates alone are not enough, because cask fraud usually involves paper for casks that do not exist. Existence is confirmed directly with the bonded warehouse that holds the wine or cask, and casks are regauged to record how much spirit they contain.

Energy and compute

Engineers and inspectors confirm that a facility exists as described, and meter, generation, uptime and throughput data show that it performs as stated.

Patents, trademarks and music rights

Rights have no physical form, so there is nothing to visit or scan. Instead, their status is checked against the public registries: whether a patent's maintenance fees are paid, whether a trademark is in use and renewed, and, for music, whether each recording and composition matches the identifiers and registrations the owner supplied.

After the first check

Proof of existence is repeated. Objects are re-checked on a set schedule and every time they move, with a fresh condition report. Property is re-confirmed on a regular cycle, and registries are watched continuously. A mismatch, damage or a missing asset suspends the certificate until it is resolved. See keeping a record current and certificate status.