People generally pour their heart and soul into creating anything unique and amazing like a song, design, or a groundbreaking invention. What is frustrating is when it gets stolen or misused! A longstanding struggle for artists, innovators, and inventors has been the struggle to protect intellectual property (IP). Here is good news for all, blockchain technology is set to be the game changer in IP protection. Now protect your rights in the digital era like a pro using blockchain technology. Let’s know how.
IP theft in the digital world
Sharing and accessing content has become a cakewalk, thanks to the development of high-speed internet. However, the dark side is the alarming rise in the number of IP thefts that are being noticed as well. Creators and innovators have become extremely vulnerable in the current times due to the rising levels of IP theft. Copies can spread across the world in seconds, making it extremely difficult to trace and prove ownership, and enforce rights.
The cons of using traditional IP protection systems like patents, copyrights, and trademarks is the slow and expensive nature of these systems, which are tied to specific jurisdictions. The enforcement of these rights can also become a logistical nightmare for you as well. Blockchain technology is the new revelation in IP theft protection and can work wonders in it as well.
What makes blockchain a game-changer?
Blockchain is a decentralized ledger that saves information in a transparent, protected, and tamper-proof manner. Protecting your IP is extremely easy with blockchain, as once something is recorded in it, it cannot be altered at all.
Blockchain can easily act as a digital receipt that can help you attain better proof of ownership. Record whatever you create, from songs to inventions, on the blockchain with a timestamp. This results in the creation of an unchangeable stamp of ownership, which protects your IP in an advanced manner. It will become easier to establish who created what and when.
Create immutable records with the help of blockchain technology as well. You can rest assured that no one in this world can tamper or delete records from the blockchain. Afraid that someone else will claim your creation to be their own? There is no reason to worry about, with blockchain. Get access to a digital vault, where, all your IP rights are permanently stored and protected.
Traditional IP laws vary from country to country, this is not the case in blockchain technology. Blockchain technology allows a greater global reach, which is beneficial as your IP rights are recognized across the globe and protected in blockchain.
How blockchain works for IP protection
Wondering how this magic happens? Let’s break down the entire phenomenon effectively.
Register your creation on the blockchain when you create something. This creates a unique digital fingerprint along with a timestamp for your work, proving that the work existed at that point in time and you are the creator of it.
Licensing your work has never been easier, thanks to blockchain technology. Self-executing digital agreements called smart contracts are readily available with blockchain technology. You can now easily automate your licensing terms with the help of specific smart contracts. This ensures enhanced protection, as blockchain automatically grants access to others for using your design after payment and constantly monitors the transaction.
The use of blockchain will further enable you to track how the work you are doing is being used and shared. For industries, where the content is being distributed widely like music and entertainment, this is a beneficial tool that helps in attaining protection of the highest order.
Get a transparent record to back up your case with the use of blockchain technology in IP protection. If someone else lays claim to your designs, you can easily counter them using the highly specific and unadulterated record that has been kept by blockchain.
Real-world applications
Some industries have already taken the correct foot forward and have started using blockchain in IP protection. Let’s take a look at such industries.
Music and entertainment: Probably a highly vulnerable industry that need high IP protection, the music and entertainment industry has already started making use of blockchain. Musicians can register their songs on blockchain networks and earn when someone plays or distributes them.
Art and design: Digital and physical artworks of artists need a high degree of protection. Blockchain technology is revolutionizing the manner in which artists are safeguarding their art forms from piracy and unwanted theft. Buyers can also verify the authenticity of an art form by checking its record in the blockchain.
Fashion: Are you a designer fighting the issue of counterfeit products? Get complete protection with the help of blockchain technology. Register your products in a blockchain network and stay relaxed about the security and authenticity of your products.
Digital rights protection future
Whatever we have been discussing here is just a scratch on the surface of the capabilities of blockchain in IP protection. With advancements in technologies, more advanced tools will evolve, which will help in better IP protection
Your creations are now completely protected with the help of blockchain technology. If you are a consumer, you can purchase authentic and original content using blockchain records. On the other hand, as a business, you can easily license and distribute your products with greater ease and in a protected manner.
Want blockchain to work wonders? Pair it with existing IP laws to ensure better results. Digital advancements have become a common area in the present times and this has resulted in a rise in digital theft too. Blockchain can be beneficial in fighting such thefts to protect your IP effectively. Blockchain helps you to generate better transparency levels and simplifies the process of IP protection as well. It is an essential technology that helps creators safeguard their creations. Blockchain is becoming a game-changer in the IP segment, as more industries are adopting it for IP protection. Use blockchain correctly and see the magic in the field of IP protection.
