What does PoO/Proof of Ownership mean?
Proof of Ownership is a method for storing data on the blockchain to provide immutable proof of ownership of that data. It is superior to current record storage systems that rely on a central repository and owner of the information, because such a centralized method is open to a range of issues, from simple tampering to loss of destruction of the records.
It also requires that the owner of the central repository be completely trusted. The Proof of Ownership method removes any chance of fraud that has historically been linked to ownership documents.
It is ideal for many different applications or use cases, such as real estate documents, wills, medical records, logistics, and ID verification. It makes it possible to verify without any doubt or question that the owner of a record is verifiable.