Shielded Registry Assets [under NU6]
Preamble
[TODO: Front Matter]
Terminology
The key words "SHOULD", "SHOULD NOT", "RECOMMENDED", and "MAY" in this document are to be interpreted as described in BCP 14 when, and only when, they appear in all capitals. Private payments and auditability: Orchard shielded transfers with incoming/outgoing viewing keys allow selective disclosure. Good fit for compliant private settlement.
Abstract
This ZIP describes a suggested protocol dealers of real world assets SHOULD follow when selling assets.
Based on real-world experience with two art estates:
Motivation
Inverse of NFTs - not a digital representation of asset, the asset itself comes first and Estate as minting authority - has the certificate. Human layer (social/legal/moral/reputational authority of the estate). Provides legitimacy. Catalog Raisonnè is the key here - software can generate. Onboarding is important Feasible today (NU6, no TZE, no ZSA): use private ZEC payments + off-chain title registry + anchored attestations. No on-chain asset. No atomic barter. Provenance is cryptographically linked, not enforced. Privacy Implications This ZIP makes no protocol or policy changes and thus privacy implications remain consistent with those in the current network upgrade.
Requirements
Requirement: must have a wallet app with multiple accounts aka seed phrases.
Rationale
Value-add: Pieces with digital attestations can be a higher price.
Specification
Catalog Assign catalog_id Optional Threshold control: Use FROST-style RedPallas multisig for estates/custodians. Practical for “verified custodian” keys. Wallet Create a per-artwork account in your wallet (new diversified UA + its own IVK). 12 word phrase per artwork Creates a provenance chain of transactions within that account This scopes later disclosures. Listing Publish off-chain record: catalog_id, hashes, asking terms, delivery policy, estate PGP, and a public COA QR with: version - int - format identifier catalog_id - int - from raisonne media_hash registry_url Prepare a sealed COA QR with: Per-artwork IVK (viewing key) COA serial Recovery_contact Optional Notarized Certificate points to digital attestation Signed by signature in the DID Sale #1 Payment Buyer generates a fresh shielded address. Seller requests payment to a designated sale address (can be the per-artwork account). Best if on Zcash Can be any crypto via CrossPay Can be fiat / tradfi -> swap to ZEC -> Estate “pays” self Buyer pays ZEC privately. Automated tool populates Memo with includes a compact receipt: catalog_id || H_media || nonce. Wait some confirmation depth for probabilistic finality Seller confirms funds by scanning with the per-artwork IVK. Delivery + attestation Physical handover occurs. Courier or custodian issues a verifiable credential (VC) stating handover (time, place, parties, catalog_id). Seller (or registry) anchors the VC by sending a tiny self-transfer from the per-artwork account with memo H_VC || sale_txid. Keep txid. Title transfer (off-chain) Registry updates owner to Buyer, signed by Seller and Registry keys. Record: sale_txid, anchor_txid, H_VC. Seller hands over COA with sealed QR (per-artwork IVK). Buyer can now selectively disclose only this account’s activity to auditors/insurers. Resale (can repeat over and over) Due Diligence phase Buyer SHOULD contact estate (estate will contact galleries / art market participant / shareholder). Value Add Optional third-party auditor could use the per-artwork IVK to see only relevant txs, then checks each VC hash anchoring tx. Estate provides security, privately. Offer: COA or Appraisal $$$ S/S/S/ Best if on Zcash Can be any crypto via CrossPay Can be fiat / tradfi -> swap to ZEC -> Estate “pays” self Value add Payment Blind payment happens between two second parties New owner should GOTO #6