BLOCKCHAIN REVOLUTION: INTENSIFYING DATA PROTECTION AND

PRIVACY IN BLOCK CHAIN BASED IPR SYSTEMS

Abstract:
Blockchain Technology, also known as Distributed Ledger System, collects the
data stored in enciphered blocks, which are closely linked to hash pointers.
These hash pointers, links one block to another, which together forms a chain,
known as the Block Chain.
Blockchain and any other form of distributed ledger technologies, creates a
trustworthy and a transparent record, by allowing multiple parties to a
transaction to substantiate what will be entered in the ledger advanced.
It has a multi-faceted utilisation, where it can reserve and protect any type of
data and can also, encrypt the Data in stored in Independent Data Blocks. These
chains have an unaccompanied and unassisted time snaps, which secures the
indivisible data, collected from consumers. This distributed ledger technology,
creates a secure, time-stamped and immutable chain of information, which
prevents counterfeiting and ensures that, the IP systems, are properly being
traced.
Blockchain, also supports smart contracts, which are self-executing contracts
with the terms of the agreement directly written into code. Smart contracts can
automate the licensing and royalty payments for IP, ensuring that creators are
compensated fairly and transparently.
It also facilitates the creation of decentralized marketplaces for buying, selling,
and licensing Intellectual Property. Thus, this reduces the need for
intermediaries and can also lower transaction costs, which increases the access
to IP for potential buyers and licensees.
Therefore, where a particular society is adapting up, to explore the unexplored,
protection of Intellectual Property by using Blockchain, could play a vital role
in the development and expansion of the Indian Economy.
Thus, This research paper, aims to spell out the role of Block Chain technology,
in protecting the data embedded in Intellectual Property Rights, which ensures
to create a secure, transparent and a decentralised protection, for Intellectual
Property Rights.
Background:
Blockchain Technology1, has made far reaching changes in how the data is
stored, managed and secured. Blockchain has transformed how the data can be
secured for sharing IOT applications, which primarily focuses on Anonymity,
Accountability, Transparency and not sharing the data with other third parties.
In addition, Block Chain inspired mechanisms, are ensured for a tight Data
Processing systems, to provide Immutability and Protection against
unauthorized data protection systems.
A stable Intellectual Property, requires a strong, well-built, secure, indestructible
and an un-ascribable maintenance of records of Intellectual Property rights.2
Currently, the flawless rectification of data and its’ continuous re-consideration,
poses a substantial challenge.
With the advent of Blockchain, IT offices, can be benefitted by using these
technologies, in the record keeping of IT registers.
The durability, constancy, solidarity, certainty and other federated features may
be used throughout the life cycle of registration, of Intellectual Property like
licensing, contractual agreements and enforcement.
Thus currently, Blockchain is used for the following activities.
It can confirm ownership, by providing a timestamp. IP holders and proprietors,
keep Hashed Digital Certificates, De-centralised money, Smart Contracts 3 and
innumerable, various data designs, in block-chain, to prevent it from
counterfeiting and various attacks.
The data divide the in Intellectual Property System, which is maintained and
taken care by the Part-takers, Contenders and Share-holders, whereby it does
not require any Third-Party Interference. The conventional method for the
protection of Intellectual Property, has already been prone to innumerable
1
The first major use of Blockchain Technology, has occurred with a creation of Bitcoin, in 2009.
By Gupta Vinay, A Brief History of Blockchain (February 28, 2018, Harvard Business Review)
https://www.sciencedirect.com/science/article/pii/S0267364918302218?
casa_token=6TBcDlHP4iMAAAAA:QFmOkbpv_QNCM3j27h_N7CZJ0c_WHpsY7t6zXAz_RZUto5saIILcm-
UbB5O6uw3SQi8wE1a9cDQ
2
The emergence of projects like Ethereum, has made bitcoin more accessible and has made it easier for the
public to use. Also, Ethereum has made the incorporation
For further reference, refer Article by Ethereum Foundation, https://www.ethereum.org/foundation.
3
Also, Ethereum has made the incorporation of Smart Contracts, much more easier and convenient, which can
solve, all sorts of reasonable and computational problems. By Hildenbrandt, Everett, Saxena, Manasvi, Zhu,
Xiaoran, Rodrigues, Nishant, Daian, Philip, Guth, Dwight, and Roşu, Grigore, KEVM: A Complete Semantics of
the Ethereum Virtual Machine (August 17, 2017). Refer https://ebooks.iospress.nl/volumearticle/46789
problems like Network Security Disruption, Slower Processing Systems and
Repository Hitches, which makes it even more strenuous to provide an
assurance that, the existing data that has already been stored is not prone to any
attacks. Thus, blockchain helps not only in the help the minimization of
litigations, by protecting the data, but also helps in the verification of correct
ownership.4
Blockchains, can also ameliorate and bring together IP management
effectiveness and foster the distribution of information, through ledger. The
categorisation, arrangement and filing of data, can be done in a First to File
regime5, whereby it initiates the improvement of any database, and stamps out,
the need for mediates and agents.
IP offices maintain records, either electronically or through documents. The
records are well maintained by using Blockchain, whereby it ensures the
authenticity and the genuineness of the data provided.These documents, are of
an utmost significance and contain a significant corroborative value. It further
provides an assistance, in the detection of forged, copied or pirated versions of
various IP records. Thus, Blockchain thoroughly ensures that, whether the data
maintained is correct or not, by real time record updation.6 Blockchain reserves
data in a distributed ledger7, that utilizes to record, share and synchronize the
transactions. Thus, either the originator or creator, could place their inventions,
where it could be used as a compilation of various IP databases.
Smart contracts are Self-driven contracts8, where the terms of agreement
between the Buyer and Seller, are directly written into the code and then, they
are registered through Blockchain, which will be immensely useful in
authorising of contractual agreements, whereby these contracts can also lower

4
Individual users, do not manage databases. Blockchain Schemes, allow users to manage their own
information, within a Blockchain, without relying on a major company. Refer
https://www.1kosmos.com/blockchain/blockchain-verification/
5
First to file regime applies to Patent Applications, which means that, whoever is the first party to file a lawsuit,
that creator has the Right to Claim the Patent. For further information, refer
https://www.patenttrademarkblog.com/first-to-file-patent-rule/
6
Real time updates, refers to the instantaneous distribution of information, it ensures that the end users
receive the most recent data, without noticeable delays. For more information, refer
https://taggbox.com/glossary/what-is-real-time-update/#:~:text=Real%2Dtime%20updates%20refer
%20to,access%20to%20the%20latest%20information.
7
The main advantage of Distributed Ledger Systems is that, is its ability to minimize Time-Consuming or Error
Prone processes, whereby it works on the Principle of Decentralisation and operates on a P2P (Peer to Peer)
network, where multiple ledger nodes, stores, validates and updates the ledger simultaneously. For further
information, refer https://www.techtarget.com/searchcio/definition/distributed-ledger
8
By creating a Smart Contract, the parties of the contract, can no longer have to trust the other party, for the
breach of obligations of the contract, nor they have to have an Intermediary Party, to create Trust or enforce
the Rules of Contract. Once the parties accept the Mutual Agreement, the implementation of contract begins,
where the Transactions are Blockchain based ones.
the possibility of infringement, ensuring that the proprietary rights are
thoroughly recorded. It also provides an assurance that the creators or inventors,
to get compensation, so that the unchangeable records are transparent proof and
helps to settle down disputes, in a convenient manner.
These Smart Contracts, also provides a Unique Identification Number9, where it
quickly helps to validate and also verifies the legitimacy of products, which also
safeguards against the consumers. It enables a brand identity protection,10
whereby it provides a distinct representation of digital assets. It also enables to
monitor, of how a patented technology, can be used
Litreature review:
In a research paper titled, “Blockchain and Intellectual Property Rights – A
Symbiotic Relationship”, written by Enyogenkere Grace Esu, Babalola
University, UAE. It has elaborated the role of Blockchain, where it said that
Digital Assets such as Patents11, Copyrights and Research Publications, there is
a requirement for multiple assets during its’ lifetime and a requirement and to
connect these multiple assets, is where the role of Blockchain comes in.
Blockchain, connects all the digital assets, where there is a linkage that is
created, by using all the digital assets by the ledger technology and potentially
use it for an end to end life cycle or the maintenance of such asset. Here,
irrespective of the IP systems, whether either it is Trademarks or Copyrights or
Patents, it needs to be registered.
But as there is either only little or no protection granted, for the unregistered
IP’s, blockchain provides a decentralized ledger, for the protection of the IP
rights. Also, Blockchain proves to be useful for Anti-Counterfeiting measures,
where there lacks a traceability and source, from where the IP products are
actually supplied, through the form of a chain. Thus, to prevent counterfeiting of
various types of IP, manufacturers add their original IP which can be scanned by

9
Assigning Unique Identifiers to participants of Smart Contracts, ensures that the contracts operate with
precision, automatic transfers such as Token transfers, Payments and Conditional Transactions.
For further references, refer https://blockchainmagazine.com/ways-to-utilize-uid-in-blockchain/#:~:text=UIDs
%20are%20integral%20to%20the,%2C%20payments%2C%20and%20conditional%20transactions.
10
UIs’, streamline Know Your Customer processes, while maintaining the privacy and security of Personal
Information. For more information, refer
https://blockchainmagazine.com/ways-to-utilize-uid-in-blockchain/#:~:text=UIDs%20are%20integral%20to
%20the,%2C%20payments%2C%20and%20conditional%20transactions.
11
These contracts are broadly classified into Non-Fungible tokens, which refers to Unique and Non
Substitutable properties, whereby it can promote Transparency and Liquidity, in the Open Market Innovations.
Also, the first NFT was Ethereum based, developed in 2017, by Larva Labs. The first NFT projects were Crypto
Punks and Crypto kitties Project, where Crypto Kitties project was launched to provide protection to Blockchain
games. For further reference, refer to https://www.nature.com/articles/s41598-022-05920-6
using Blockchain Technology. The products are connected either through
Blockchain Connected Cards or Tamper Proof Seals. Also, only the
authenticated participants, can be able to access various Blockchain Technology
methods.
This research in detail, also elaborates about certain limiting factors of
Blockchain, where there is a lack of awareness, or where there is a lack of
understanding, of how it works. In other words, there is a common general
public, is not having a clear-picture or a clear idea, of how a blockchain
works.Therefore, there is a requirement, for an improvement of the overall user
experience. But as compared to before, Today, blockchain has improved, and
has been much developed, more quickly, than what it was previously there.
Also, as Blockchain follows a standard method, it acts an obstacle, for the
emerging developers and investors, where their rights are to be infringed on.
Thus, in conclusion, even though research paper enumerates the fact that
Blockchain Proceedings are highly Expensive and Time-Consuming, it provides
an aid or assistance in the easy resolving of disputes. Licensing Agreements also
paves a path for Smart Contracts, which is created on record and provides a way
for Real-Time-Ledger.

In a Research Paper written by Anne Rose, titled “Blockchain: Transforming the

registration of IP rights and strengthening the protection of unregistered IP
rights” published on July’2020, it enumerates about the various advantages and
disadvantages, on how the Intellectual Property Rights could be protected and
the various advantages of registration. It also elaborates about the issues of
registrability. For example, if it is a design 12(To be registered under the Designs
Act, 2000) firstly we must see whether it is a new or an original design and then
whether, does it have a separate distinct character or not. It emphasis on the
point that, where the marks could be identified whether it is distinctive or not,
completely depends upon its’ usage. Later on, if the necessary changes were
made for the actual use of trademark and then be registered on the official
register. In other words, it says that, in what ways it conveys an overall
impression or, the overall impact that is created or formed by the design, is
different from the other designs in marketplace. Currently, the Design View
Application and EUIPO (European Union IP Office) scrutinizes and checks the
structure and stature of designs. If there are no protestations and objections

12
For design thinking process, it is a Six stage Process (Understand, Observe, Ideate, Design, Prototype and
Trust), which is used for the Organisers, in Fact finding and Decision Making and the outcomes are then, linked
to the creator.
raised by the registry, then the Design rights, may be registered from the date of
application.
Also, A Blockchain based entry can only upload Rights Management
Information as a Time Stamped Entry13, only if any Trustworthy Authority or
any Trusted Party as such as where an IP office, or where a collective
management, or an organisation is involved.
In the research paper titled “Blockchain Technology and Intellectual Property
Rights”, by BP Singh and Anand Kumar Tripathi, (on 17th May’2019),
elaborates about the technologies and various possibilities, that it offers for
various IP regimes and the other possible applications of Blockchain.
In other words, this paper explains about how a strong blockchain could
strengthen various IP regimes, ensuring and verifying about the correctness of
data. Once the data is corrected, its’ Genuinity and Authencity, 14 shall be
verified.
A strong and a verifiable data, helps in verifying the IP rights. It helps in the
synchronization of external data with the internal one, whereby it provides a
consolidated platform, for syncing of Patent Literature. Also, this paper has
mainly elaborated about how the nation has been benefitted, by Blockchain.
It poses a great advantage to the Micro, Small and Medium Enterprises
(MSME’s) to invest in their resources, (free domain) without their rights being
infringed and verifies, whether the existing data entered is correct or not.
It has also elaborated on how the Government has enhanced blockchain. For
example, Currently the organizations like NITI Aayog, provides for an
entrepreneurial support, where it explores the use of Blockchain, in diverse
areas like Education, Health-Care, Agriculture and various Wellness programs,
whereby a separate institution was formed, which was called as the “Indichain”,
featuring one of the world’s largest blockchain implementation.
Moving forward, the organisation has also released a paper discussed on panel
by National Strategy for AI. Therefore, apart from the Central Government, the
State Government has also shown its’ enthusiasm, for bringing a transformative
change in the Blockchain governance.
New Organizations like NASSCOM (National Association of Software Services
and Companies), have also been formed, by the advent of Blockchains. Thus, in
13
Time-Stamping offers a decentralised and a secured means of keeping a track of the manufacturing
processes. The company that produces the said equipment can observe how the maintenance work, was
carried out.
14
A secure addictive manufacturing platform (SAMPL), was proposed to enable a Transparent Chain of Trust.
conclusion, this paper declares that, the sooner the IP offices start to implement
Blockchain Technology, their work would become much easier.

In the research paper, “An overview of Blockchain Technology, for Intellectual

Property Management”, which was written by Ikram Ashgar, Oche A Egachi
and Mark G Griffiths published on, it has been elaborated about the Distributed
Ledger System, which is essentially a decentralised database, with no central
administrators.
It is usually maintained by multiple persons, having a system of challenges that
are faced by using while implementing protection for Intellectual Property, by
using Blockchain.
Most of the Blockchains, requires converting IP into a hash key, distributed
ledger. Thus, the fundamental problem by using third party services, is the
authenticity of information, that is entered during registration. Furthermore, this
research paper has provided for a detailed elaboration on Third Party
Applications used for the protection of IPs’, like Binded, Proof of Existence and
Brienstein.
Binded,15 is a Third Party platform for IP management, it creates a unique
fingerprint for each image, that is stored in the vault and permenantly stores
them in the vault. Also, once after registration, they provide a Copyright
Certificate, which prevents them from infringement. Also, this paper has
elaborated about the various challenges, that is currently being faced, by the
usage of Blockchain.
Proof of Existence16, is carried out by storing a Document’s Fingerprint and it is
embedded in the Bitcoin, to certify the document. The transaction is carried out,
by generating a Unique Bitcoin Transaction, that contains the print of the
document.
On the other hand, Bernstein17 allows content creators, using the National
Timestamping Authorities, where the platform provides for any Existence,

15
They have claimed to have grown over 15,000 members, before being brought by Pixey, which is a mission,
to Protect Copyrights, for Artists.
16
In practice, Decentralised Proof, cannot be erased by anyone, as it is Anonymous and others cannot identify
your Data. For further Information, refer https:// hwww.pluralsight.com/resources/blog/guides/proof-of-
existence-in-the-blockchain-with-tierion-rethinkdb-and-pubnub#:~:text=Using%20the%20blockchain%2C
%20you%20can,identify%20you%20or%20your%20data.
17
Bernstein, has a unique experience in Cryptography, where it was first introduced in 2007. For further
information, refer to https://www.bernstein.io/how-it-works#:~:text=Therefore%20Bernstein%20is%20a
%20new,proven%20cryptographic%20primitives%20and%20protocols.
Ownership and Content Development of any Asset. This platform enables
Proof, by chaining the Certificates of Creative Processes Together.
First comes out the Authentication Problem, where it states that the
Fundamental Problem of Blockchain of Third Party Services, lies in its’
Authenticity of Information, which has been entered through registration but
does not belong to the Blockchain native, cannot be assured a Blockchain. (Also
known as, Garbage In, Garbage Out Problem).18 Thus, until Authentication has
been resolved, the Practical Application, can only be via through a Transmission
of Networks.
Next, arises the problem of how to record and Transfer the Ownership19 of
Network. There is a requirement of Blockchain, to Transfer Ownership, without
any Trusted Third Party or any Piracy Issues.
Furthermore, it has also elaborated about the Royalty Stability Problems 20,
where several Third Parties, manage the uses of Physical and Digital Intellectual
Property.
Research Problem:
Blockchain Technology, is used to create a secure, transparent and a
decentralised system, for the protection and enforcement of Intellectual Property
Rights by enabling reliable Provenance Tracking, Automatic Licensing and an
efficient Cross Border Licensing management. The legal perspective on
Blockchain Technology in India is evolving as India continues to assess and
adapt its’ regulatory frameworks, to accommodate blockchain innovations,
while currently addressing it with the associated risks. Blockchain, has a widely
recognised potential, especially in the registration, securing and enforcement of
various IP systems. Despite the establishment of Blockchain based specific
organisations like RBI and SEBI21 which allows testing of Blockchain, still
there are various potential Legal challenges, Jurisdictional and Cross Border
Issues, that actually arises from its’ implementation. However, its’ decentralised
and pseudonymous nature, poses a unique and regulatory challenges, especially
within India’s legal and regulatory landscape.
Research objective:
18
Usually, where the Blockchain is not authenticated, such method is followed.
19
Smart Contracts, are transferred, based on Trust. For more information, refer
https://www.expresscomputer.in/guest-blogs/revolutionising-property-transfers-how-blockchain-is-
streamlining-processes/114683/
20
Evaluvation of Payment of Royalties, is done in three types. Cost based, Market based and Income based.
21
Notification of SEBI https://www.sebi.gov.in/media/press-releases/apr-2022/sebi-issues-operational-
guidelines-for-security-and-covenant-monitoring-using-distributed-ledger-technology-dlt-_58133.html
This research paper aims at a comprehensive understanding of the current
framework of blockchain technology and its applications. The main objective of
the research paper, currently focuses on addressing of the current issues in
Blockchain and mainly, what major improvements, could be made in the
existing legal and ethical scenario.
Research questions:
1. What role, does Blockchain Technology play, in the strengthening of
Intellectual Property Rights and how can it be integrated with the existing
IP laws?
2. Whether the current system of existing Indian Legal scenario, completely
addresses the legal compliance of Blockchain technology?
Research method:
This research paper has drawn data from secondary resources, where it has
drawn data from primary resource. The empirical research that was conducted
by the other authors, serves as a secondary data. The laws that are used for
analysis, serves as the main base for the paper. Thus, the sources are gathered
are from reputable literature resources.
Research methodology:
In this paper, the author has opted for a Non-Doctrinal Research, to understand
and explore about the concepts of Blockchain Technology.
Case Laws: For Blockchain in India, from the Indian Legal Perspective there
are no particular cases filed. But, there are various legislations, filed outside
India.

Chapters of the Paper:

Authenticity and Immutable Proof of Ownership:
When an Intellectual Property is registered, a Timestamp is created
Permenantly, where once the Data is entered into the Blockchain, it cannot be
removed or altered, without the consent of the whole entire Network. This
feature, makes the record of Ownership reliable and it cannot be modified. Also,
Ownership Records on a Public Keychain, can be verified by anyone, making it
easier for the Third Parties, to confer an Ownership, without relying on any
Central Authority. Also, each digital asset, can be represented by an Unique
Cryptographic Hash, where a code, is generated from that specific Asset’s Data.
Even a small minor alteration to the code, would result in a completely different
Hash Value, which evidently shows that the particular IP system, has been
tampered.
Tokenization of IP Assets:
Before Tokenization, the Intellectual Property goes for a thorough review and
the assets are separated into separate tokens, where the systems of IP resides.
The possession, adaptability and distribution of tokens, are then regulated by
Smart Contracts, where after a thorough verification, the IP rights are provided
to the appropriate parties. Also, it opens up new revenue systems for content
creators and artists.
Smart Contracts, for the license of IP and Royalty Payments:
The idea of licensing IP Rights, through Blockchain is appealing, as it removes
the requirement, for any Third Party involvement or any other additional
external support. The contract is a Self-Executing one, where the Terms and
Conditions, controls all the terms and conditions of the contract. For instance,
the code will dictate when a royalty payment is due based on the agreement and
will send funds to the appropriate IP holder.
Challenges in Legal Recognition and Jurisdictional Ambiguity:
In India, there is no specific law that governs or directly regulates Blockchain.
Even though the principles of Blockchain are implemented in SEBI and RBI,
there is no specific legislation as to how to govern the Blockchain transactions.
Also, Blockchains operate at an International Level, with Nodes spread across
Multiple Countries, making it very hard to establish, a Single Governing
Jurisdiction. Also sometimes, Jurisdictions vary on the standards to authenticate
records. The particular Blockchain, needs to meet the particular standards, in
order to overcome these ambiguities. Thus, developing International Global
Standards, would overcome such difficulties.
Reduction in Counterfeiting of IP systems:
In Blockchain, there is a Corresponding Unique Identifier (like a Tag Number or
QR code), which would verify the Product’s origin. Thus, a consumer can scan
the code, for verification of the Authenticity of the Code.
Valid Evidence, in IP infringement and Dispute Resolution:
Blockchain provides for a Time-Stamped Record, that is, where an Original
work was uploaded, it can be shown as a Proof of Evidence. Its’ timestamp, can
be used to verify the Logo, Invention or Design, or any other information, at
any designated moment.
Limitations:
Even though Blockchain Technology, proposes for a secured transaction of IP
records, its’ accuracy, relies on the input of initial data. If the transactions are
recorded incorrectly, then it would become difficult to rectify, because of
Blockchain’s immutability. The fraudulent information entered, could be
perpetuated, leading to potential ownership disputes that undermines the
reliability of blockchain as an IP record.
Further, the protection that is given by blockchain, is immutable in nature, but it
becomes problematic, while dealing with IP disputes like Data modification or
Data removal. For instance, if any Copyrighted material, is added to
Blockchain, then it becomes difficult, either to modify or remove that particular
chain, it rises compliance issues and also, handling of infringement cases
becomes difficult.
Also, Blockchain is Highly Transparent and Publicly Accessible. Some IP assets
like Trade Secrets, cannot be stored directly on the Blockchain, without a
compromise on their secrecy. Thus, as there are constant tensions between
transparency and confidentiality, it makes blockchain unsuitable, for certain
types of IP protection.
Future Scope:
1. As Blockchain Technology is evolving, so is the demand to meet the
Growing Legal Standards and Regulations, to govern its’ use in
Intellectual Property. This could also include Global Agreements, that
recognises Blockchain Records, as a Valid Proof of IP Ownership,
whereby Standardised Regulations, makes Blockchain, an Universally
Recognised tool for IP Protection.
2. It also helps, in the tracking of Authenticity and Origin of Goods,
whereby it helps in Prevention of Counterfeiting of various IP Systems.
3. It can also be integrated with other Technologies like AI and Iot, to create
models for IP management, whereby this approach provides security and
efficiency, particularly in Digital Spaces, where Multi-media content is
accessed or shared frequently.
 4. Blockchain’s immutability, can serve as a Valid and a Tamper-Proof
Evidentiary Record, which in IP disputes, whereby this can remarkably
lessen the time, for Re-Solving of disputes.

Recommendations:
Some of the recommendations suggested are:
Encourage international IP offices, to adopt to Blockchain based compatible
databases, that allows Cross-Border Transactions and Interoparability.
Implement a Standard Data, for the recording of Assets in Blockchain.
Establish Government based or IP office endorsed Blockchain Registries.
Enforce Smart Contracts and Secondary Sale Royalties, that allows Original
creators, to receive Royalty for their works.
Develop International NFT Standards, specifically for IP assets, clarifying the
Rights and Limitations associated with NFTs’.
Standardised NFT licenses, can indicate whether the buyers have received their
respective ownership. Also, Legal Standards can help consumers, to avoid
misconceptions.
Implement a Blockchain based IP Dispute Resolution Mechanism, whereby this
mechanism could refer to disputes to a Blockchain based Arbitration Body.
References:
1. https://www.ijlsit.org/html-article/22425#:~:text=Blockchain%20can
%20be%20used%20to%20protect%20intellectual%20property%20by
%20providing,rights%20are%20protected%20and%20verifiable.
2. https://glair.ai/post/blockchain-technology-can-protect-copyrights
3. https://hbr.org/2017/02/a-brief-history-of-blockchain
4. https://www.investopedia.com/terms/f/first-to-file-rule.asp#:~:text=The
%20first%20to%20file%20rule%20also%20applies%20to%20patent
%20applications,their%20new%20invention%20or%20process.
5. https://www.sciencedirect.com/science/article/pii/S0267364917303783?
casa_token=f7j2COMVPscAAAAA:6EDtFi00E3szAGiG1LtNay6GiwAl
4um49w5aCWfsiyHbER2A7XQYBW5P-cyBhK794U4ea-kTsA4
6. https://ebooks.iospress.nl/volumearticle/46789
7. https://www.ibm.com/topics/smart-contracts
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%20is%20a%20new,proven%20cryptographic%20primitives%20and
%20protocols.
9. https://abounaja.com/blog/blockchain-technology-and-intellectual-
property#:~:text=Blockchain%20can%20confirm%20ownership%20and,
%2Dfungible%20tokens%20(NFTs).
10.https://www.solulab.com/tokenization-of-ip-assets/#:~:text=The
%20process%20of%20turning%20intellectual,all%20possible
%20outcomes%20of%20this.
11.https://www.lexology.com/library/detail.aspx?g=512ab4b1-d234-4962-
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%20annually).