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Blockchain, Blockchain Security, Featured, Press Release

HashCash Designs Intellectual Property Protection Prototype for Blockchain

The global blockchain development company, HashCash Consultants unveils the concept behind a blockchain-based Intellectual Property Protection model that protects digital content. Although the idea is in its initial stage of development, it is capable of precluding original content counterfeit.

Blockchain In Intellectual Property Protection

The blockchain approach of this project safeguards preliminary concepts and initial stages of product design and development. Each digital artifact in the system generates an exclusive signature to attest to its proof of existence and proof of origin. It is then planted into the blockchain by the special in-built service that provides authentic decentralized time stamping. After recording, the unique hash within the transaction inside the intrinsic blockchain network is traceable anywhere within the blockchain architecture. To secure the digital content an integrity verification feature confirms the digital identity to authenticate every user.

Need For Intellectual Property Protection

“Theft of ideas and plagiarism of digital content is rampant across platforms. Intellectual Property protection deserves serious thoughts given the circumstances,” says HashCash Chief, Raj Chowdhury.

“Ideas, contents, designs, and storylines are at times worth millions and it is nearly criminal to not credit the earliest ideator,” added Chowdhury.

HashCash’s team of researchers intend to cover digital content of all kinds in this application. It encompasses content like scripts, digital drawings, animation clips, etc. The scalability of the solution needs enhancement as the research team anticipates a wide range of prospects via the layering of IoT and AI with smart contracts on the blockchain.

Also Read: AI-Blockchain Prototype for Energy Consumption and Distribution Patterns

Final Words

“Inherent features of blockchain-based applications provide the benefits of provenance, traceability, and anti-counterfeit service to bolster the application,” concludes Chowdhury.

HashCash’s new program application protects a creator’s originality. It allows them to add their digital signature and the timestamp of creation. It may emerge triumphant in eradicating the problem of content theft that prevails across industries.

Source: https://www.benzinga.com/pressreleases/21/08/n22706244/hashcash-builds-a-blockchain-based-intellectual-property-protection-prototype

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