There have been many blockchain technology application in technology fin-tech, but how blockchain can improve the protection of intellectual property (IP)? Clear that great book distributed technology can be applied in many use cases.

IP Registration System

How long does it take to apply for a patent? It depends on where an individual or business is being filed. Let's see the US as an example. See data from FY 2016, USPTO usually take approximately 16.2 months from filing to the initial Office action. Total average total time of about 25.3 months. In addition, patents for specific categories such as computer architecture may take longer than the overall average.

The problem is that many IP submissions must undergo a manual review. In an industry where it is important to be the first mover, may be difficult to obtain the consent of the patent agent or other regulatory authority. By replacing a centralized registration system with a system of decentralized governance, it would be easier to not only register new IP but also update the archiving and transfer ownership at any time. With blockchain, the regulatory agencies will be able to accomplish more with the resources it needs a little more. By reducing time waiting for approval, the company can move forward with innovations that are protected by IP laws.

Specify Creators

The other big problem with the ownership of the IP is tell where the entity that first made the IP. Because of the lengthy approval process and the large number of national IP rules, there is no obvious way to determine who owns the IP. For example, a singer may release a song that sounds similar to the existing track.

Regardless of whether the song was meant to be similar or not, cases like that have happened in the past produced some large scale IP infringement lawsuit, which usually only settled many years after it's released songs. The lawsuit "Blurred Lines" is one of the latest examples of this.

With blockchain-based registration system, it would be easier to verify if a new song or do not infringe the IP of the previous songs listed. Blockchain-based detection system types can be thought of as Cpanel supported legally, the only technology that can be applied to other things like art and music with the help of artificial intelligence.

Delay The Forgery

Unfortunately, in many instances, the company instantly stealing the IP to their existing competitors to produce food, clothing, and other items. In the current era, it is still relatively easy for some companies to get away from these practices and generate millions or even billions of dollars of profit in the process. For physical products, at least, blockchain through the integration of RFID tags is something that is already implemented. This technology allows the authorities to easily tell when things like fake import goods just by scanning the barcode of the product.

Blockchain IP-Focused Project

Currently, there are several blockchain projects that are working to make the system of detection the IP creator/registration. However, the project will come as IPCHAIN Database find and change this. Although this project can be beneficial for people and businesses who want a better way to examine the IP information, Database IPCHAIN wants to go a step further.

In the end, this project aims to be a legal stamp of approval for the filing of IP around the world. The idea is that existing government regulatory agencies will use the Database as a solution for improving the IPCHAIN filing system to their current IP. This project adheres to the standards of the World Intellectual Property Organization, which can help improve the pengadopsiannya.

There are already some projects that are working to crack down on counterfeiting. One example is the VeChain Thor, which already has a partnership with the largest importer, the DIG of the best wines. VeChain Thor can verify all original products by marking every products with RFID tags. Because the data is devolved, there may be a single database compromise and change the label of the product.

because the information is stored in blockchain, everyone along the supply chain to track and verify the product to make sure that it is real. Waltonchain is another project with similar goals. It has formed several partnerships and is now a part of the IoT Connectivity Alliance of Alibaba.

Current constraints

One of the most difficult obstacles to consider is how IP and regulatory lawyers will actually integrate blockchain and AI into their current settings policy. Use cases such as verifying the code for the software product is original and does not infringe existing patents can be done automatically through similar technologies that scan of Google for keyword matches.

However, this change can bring new challenges for IP experts. For example, if a software project supported by IP laws and not open source, and how much of the code that can be reused in similar projects? In addition, patent law does not currently require the sender submits a single line of code to get a patent.

In the patent system-based blockchain where archiving will be far faster and more simple, concept of public product idea submissions without code can lead to decisions that are more challenging and potentially cause officials to consider a patent change the current archiving process to make it as rapporteur. to provide the prototype at the time of delivery.

Patent blockchain-based system also presents the argument for a creative field. For example, how much like a work of art with works that already exist? Even when the AI detection ability increases, it will be interesting to see if regulatory agencies will develop a quantitative framework/percentage based which makes automatic assessment on what is original and not original. For example, can a song reads 60% similar to existing songs and still be considered original? Will the release of the song requires the Division of royalties?

# Conclusion

While IP-based blockchain is still in the early stages, some projects began to develop not only the technology but also get real-world adoption. For the most part, businesses seem interested in adopting these changes; However, the Government legal organization clearly is the biggest potential catalyst for the adoption of IP-based blockchain.