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Blockchain for Platform that handles Intellectual property

Challenge

Intellectual Property is a very precious commodity in today's world. It’s an idea, an effort of the owner which should be having a reputable worth.

Plagiarism, piracy and stealing of an idea are major issues due to which an original work doesn’t get enough worth, which is what is required for the same.. These challenges are bounding the owners to not showcase their talent/work to the outside world.

A community of such people looks forward for such a trustworthy environment where they can freely upload their property, which is secure enough to avoid mutability, transparency less, trustless behaviour of platform.

CLIENT:

INDUSTRY:

Private Sector

PROJECT TIMELINE:

11 months

Functional Area

Software Development

SOLUTION

In order to fight with the challenges, Blockchain based platform can be made which has some features which are focusing to resolve them. There are certain features of blockchain which is making it more suitable for this use case:
Decentralization: There are different entities involved, in order to make the system more reliable in terms of compliance, there would not be any single authority to maintain the logs of transaction related to compliance and doing the settlement in case of discrepancy among the entities.
Immutability: Once the transaction gets register on to the blockchain, it will not be possible to make the changes with the record. So, Blockchain platform in respect of compliance can be maintained without any risk of mutability, also the Intellectual property which is getting upload on this platform won’t be facing any issue related to mutability.
Security: Any stakeholder of the platform who is going to host the node in the network will have the access to view and introduce new schemes in the marketplace. So, no one can interfere in the system. This makes it secured.
Transparency: Every transaction count, anyone can come and investigate the records but will not be able to modify.

RESULTS

We have achieved a blockchain based platform which is highly efficient in handling the transactions in respect of the marketplace build for Intellectual Property.

Satisfactory client is the achievement of the project, first phase of which is entitled to achieve above ten thousand legitimate users around the globe.

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