BLOCKCHAIN TECHNOLOGY DISRUPTING THE INTELLECTUAL PROPERTY LEGAL SPACE

Credit:community.mis.temple.edu

A company- NKOR has developed a new blockchain based technology which allows creators to protect their intellectual property and prove that it is theirs. Currently, funds of over a million dollars have been raised for this technology still in its infancy.

The product is an innovative cutting-edge solution for registration of intellectual property on blockchain by using internal economics to enable transfer of rights and legal validity globally. The technology is built in a way that all data transfers that are registered in its environment, is recorded and irreversible by private entities, hackers or even governments - make it resistant for changes and reliable as evidence.

How will this run…
• The system authenticates data that is uploaded to the platform, which is then linked to a transaction on a blockchain via smart contracts. It timestamps it to provide an immutable record and keeps track on sharing the same data by other entities to prevent plagiarism.
• The Product will also serve as a marketplace that will allow all artists to trade their works and bypass the mediator.

The creators of the project intend to disrupt the intellectual property legal space using a lower cost for copyright registration, thereby reducing the need for lawyers.