As NFTs come to the forefront of the public consciousness, more and more areas are finding innovative uses for the blockchain. From advancing medical science, to mapping biodiversity its applications are tremendous. Now, the patent sector is investigating uses for this incredible technology.
A core feature of patents is that each one is provably unique. Each one requires an immutable record of when it was created, and each one has an undisputable proof of ownership. Remind you of anything? The blockchain therefore makes all this possible, and more.
Within the NFT solution lies an irrefutable record of ownership, creation and uniqueness. Moreover, it also provides the possibility to transfer that ownership based on the terms of its creator and therefore allows for the commercialization of those assets, as well as the ability to license the content of the patent while maintaining ownership to the item itself.
Due to this incredible potential, a partnership between computing giant, IBM, and intellectual property blockchain specialists IPwe has developed. Together they will explore this new potential and build up the infrastructure required to bring the idea to fruition.
Therefore, these real-world applications provide an excellent opportunity for blockchain and NFT technology. Effectively, anything requiring a provable database could benefit from the advancements it will bring. Especially with the carbon neutral blockchain solutions now gaining traction within the crypto sphere.
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Decentralised human, Explorer, Adventurer.