A Blockchain-Based Framework for Secure Digital Asset Management

In the current age of digital world with the emergence of metaverse, digital assets are increasingly recognized and become more and more valuable. Unlike real-world assets, managing digital contents is more challenging since their associated information might be leaked widely on the Internet, making them worthless. Traditional digital asset management (DAM) systems based on third-party authorities and centralized databases have various weaknesses, threatening the benefits of stakeholders. In this paper, we propose a blockchain-based DAM framework utilizing smart contract, InterPlanetary File System (IPFS), and multi-layer encryption mechanisms for access control of digital assets in the metaverse. Our proposed design eliminates the intervention of intermediaries and offers a wide range of advanced security features such as resistance against data leakage and data alteration without trust assumptions among participants. Besides, key features of blockchain are leveraged to provide the system with immutability, traceability and transparency of information. To prove the feasibility of our design, we build a Decentralized Application (DApp) operating as a marketplace for digital assets using the proposed DAM framework. Experimental results indicate that the framework is more cost-effective than existing platforms, while advanced security features are integrated and automation is maximized.