Introduction
Once, in a small town, there was a man named Mr. Williams who was famous for making bicycles. One day, 2 neighbors, Daniel and Michael, decided to buy 2 bicycles from him. They used to ride their bikes on the streets every day. However, after a while, they began to argue over which bike belonged to whom. This was because their bikes looked the same. To prevent confusion between the bikes, they marked a line on Michael's bicycle. However, one day, Michael's bike got stolen. After searching for several days, Michael finally found his bike in another place. The thief claimed that it was his bicycle and insisted on keeping it. He had no desire to return Michael's bike. Hence Michael asked the police for their help; Since there was no valid evidence to determine the right owner of the bike, the police were unable to take any action. Until Daniel revealed the line on the bike as evidence, prompting the return of the bike to Michael.
In order to avoid future issues and disputes, the residents of the city urged Mr. Williams to inscribe a distinct, non-repetitive number on every bicycle, ensuring that each individual would possess their own unique bike. Hence the bikes will be recognizable. Mr. Williams provided each bicycle purchaser with a document containing the unique code of their bicycle. For example, If a person purchases a bicycle with the engraved number 529, they will also receive a document with the same number. By this approach, each bicycle was assigned a unique code and its owner had a corresponding document.
Michael's financial hardship led him to sell his bicycle to his friend, Ted. However, in order to finalize the transaction and sell his bicycle, Michael had to present and display the bicycle's documentation. He opted to arrange a meeting with Mr. Williams to acquire the new document. But they faced a new problem which was that Mr. Williams was unsure who the real owner of the bike was.
A new decision was made to resolve this issue; Mr. Williams diligently recorded the buyer's name and the bicycle code in his computer system, alongside the document provided to the buyer. With this solution, even if the document is lost, its owner would be checked in Mr. Williams' system. Later on, when another person like Michael, intended to sell his bike wouldn't face the same problem because Mr. Williams kept everything very accurate on his computer. Shortly after, a thief decided to steal Ted's bicycle.
The named thief, after consulting his friend, came to 2 conclusions :
Create his own new document by forging a bicycle document.
After hacking Mr. Williams' computer, put the bicycle document in his name and receive a new document.
As a result, by hacking into Mr. Williams' system, the robber changed the ownership document of the bike to his name; and then referred to Mr. Williams with the altered document to obtain a new one. Mr. Williams confirmed the ownership and issued a new document to the robber after he checked his system. The robber made up his mind to sell the bike which did not belong to him to Arthur, another guy. Meanwhile, Ted realized that his bike had been stolen and immediately reported the incident to the police. After conducting an investigation, the police discovered that the bicycle was in Arthur's possession. Arthur stated that he did not steal the bike and bought it from someone else. Upon further investigation, it was discovered that fraud had been committed. The bicycle had been sold by someone who did not own it after acquiring ownership.
To avoid similar incidents in the future, they decided to store the information not only in Mr. Williams' system but also in the systems of several other people simultaneously. Therefore, even if Mr. Williams' system was hacked, the correct information would still be stored in the other systems.
The citizens met together in a huddle to solve the problems related to bicycles. The three main problems are:
How can we enhance the security of information storage to protect against system hacking?
What should one do if they have lost their document?
What is the solution to prevent document forgery?
After analyzing the issues, the following outcomes were made public :
To solve the first problem, they decided to use blockchain, because blockchain is a system that can simultaneously store information in different computers, and due to its high security, no one can hack and change the information.
The solution that solved the second problem was to use digital tokens instead of physical papers that were given to each person as a document. In this case, the tokens will remain forever and only the owner has access to it.
Finally, due to the use of digital tokens on the blockchain platform instead of documents, no person can forge another person's tokens and put them in their own name.
With the investigations done, people decided to store the bicycle information in the blockchain, and each person who buys a bicycle receives an NFT token per document. The NFT token is similar to the bicycle document that contains the number and specifications of the bicycle stored in it; The only difference that can be mentioned is that the information is digitally stored in the blockchain to prevent the ownership document from being lost and only the owner has access to it. And there is no possibility of hacking and changing information in any way.
People who witnessed the security of this platform tried to use the same method for other tasks such as home, car, digital files, etc.; In such a way that they are created in the form of NFT and their owner is always known and no one can claim another's personal property in his name.
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