The Future of Blockchain in Intellectual Property

Given the accountability, security, transparency, and immutable nature of Blockchain, it can have a significant impact in the field of Intellectual property. However, since Blockchain is still in the stage of its technological development, we could potentially see many more evolved applications of Blockchain for intellectual property, in the near future.

Blockchain is defined as a decentralized, distributed ledger technology that records the provenance of a digital asset. It is a system of recording information that is difficult to change, hack or cheat the system. In simpler terms, Blockchain is a technology where any digital information is distributed across the network, given the information is time stamped, immutable and transparent to everyone present in the network. Blockchain has prominent implications in various domains such as cryptocurrency, health care, real estate, voting systems, supply chain and logistics, etc.