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Scenario 1: Public Registry of an Asset

By Craig Wright | 06 Oct 2018 | Bitcoin & Blockchain Tech

In this scenario, Bob decides to publish his ownership of an asset (e.g. his home) onto the Blockchain. Nothing else is done at this stage; it is simply an asset that may then get used in subsequent transactions (such as described in the use of Non-debt Lending).

In this situation, there is no termination date for the contract.

This has a simple state machine model as shown in the diagram below: