HashCash Consultants come up with a blockchain-driven Intellectual Property protection mechanism targeted at minimization of an idea or content theft
The internationally acclaimed blockchain development company, HashCash Consultants reveals the idea behind a blockchain-based Intellectual Property Property model. The idea, though in the preliminary stages of development will prevent copying and theft of original content.
The proposed blockchain-based approach makes it possible to protect developed ideas and initial concepts for product design and development. To vouch for both proof-of-existence and proof-of-origin, a unique hash is generated from every digital artifact in the system and embedded into the blockchain by the decentralized trusted timestamping service. Once this unique signature is recorded in a transaction within the underlying blockchain network, it can be traced from where particular contributions originate is characteristic of the blockchain architecture. An integrity verification feature or digital identity is implemented to authenticate the users.
Read More: Kraken Donates $250,000 to Advance Ethereum’s Blockchain Upgrade Efforts
“Theft of ideas and plagiarism of digital content is rampant across platforms. Intellectual Property protection deserves serious thoughts given the circumstances,” remarked Raj Chowdhury, CEO, HashCash Consultants.
“Ideas, contents, designs, and storylines are at times worth millions and it is nearly criminal to not credit the earliest ideator.”
The research team at HashCash intends to cover all forms of digital content within this solution; including scripts, digital drawings, animation clips, and more. The application is made to be scalable as the team anticipates a range of possibilities to be incorporated with the layering of IoT and AI with smart contracts on the blockchain.
Read More: Blockchain Safety: Why You Should Create a New Bitcoin Address Every Time?
“Inherent features of blockchain-based applications provide the benefits of provenance, traceability, and anti-counterfeit service to bolster the application,” added Chowdhury.
Indeed, an application that protects a creator’s originality with their digital signature and timestamp may go a long way to curb the problem that exists across industries.
Read More: Currency Agnostic Blockchain Debuts for Global Trade
