SYSTEM AND METHOD FOR CREATING, VAULTING, TRANSFERRING AND CONTROLLING TRANSFERABLE ELECTRONIC RECORDS WITH UNIQUE OWNERSHIP

A system for securely vaulting, auditing, controlling and transferring electronic transferable records (TRs) with unique ownership, including at least one registry for registering the electronic transferable record with unique ownership in a TR registry record; at least one secure storage manager (SSM) associated with the registry, the SSM storing the transferable record registered in the registry as an authoritative copy, the secure storage manager being distinct from said registry. The transferable record can be transferred in a transaction between an originating party and a receiving party with a transaction descriptor including information about the parties involved in the transaction and an identification of the TR being transferred. The transaction descriptor is initially signed by the originating party with the TR, subsequently verified and countersigned by the registry and signed by said accepting party. The transaction descriptor, upon completion of the transaction, is stored in the TR registry record and serves to identify the authoritative copy of the TR.