A Wyoming land owner — or the State of Wyoming—seeks to finance or administer above surface or subsurface rights such as grazing land, water, oil, gas, coal, mineral or pore-space rights.
Transaction sequence
- Identify the parcel and surface estate.
- Separate the different surface and subsurface rights.
- Identify leases, royalties, burdens and governmental permissions.
- Define exactly what the investor or buyer will receive.
- Create the legally supported digital representation.
- Record the blockchain event.
- Administer transfers and royalty distributions.
- Stop affected transactions if an authoritative record changes.
- In the proposed State of Wyoming Subsurface tokenization pilot, FRNT can be used for settlement and Wyoming can place the tokens on any chosen chain or its own chain.
