Blockchain Technology and Intellectual Property – A Basic Introduction

Abstract

Blockchain technology is predicted to have a major impact on the Intellectual Property (IP) ecosystem.More and more projects are being launched, both in the public and private sector.The World Intellectual Property Organization (WIPO) has built up a Blockchain Task Force and is preparing a new WIPO Standard to encompass all types of IP rights and the entire IP lifecycle 2 ; the German Government published a strategy paper on blockchain with a chapter on applications in the creative arts sector 3 ; a European Blockchain Service Infrastructure is being built up 4 ; the European Union Intellectual Property Office (EUIPO) established an Anti-Counterfeiting Forum as part of the broader EU strategy to create a blockchain ecosystem 5 and now has its own blockchain for trademarks and designs in the EU 6 .Furthermore, LVMH, with brands such as Louis Vuitton, developed its own blockchain to track luxury goods 7 ; Kodak started a blockchain initiative for image rights management 8 ; music and film streaming are offered on blockchain platforms 9 ; sports clubs discuss microlicensing of their IP rights 10 ; digital fashion is created for distribution using blockchain 11 .Moreover, news abounds of Non-Fungible Tokens (NFTs) representing basically everything imaginable-both digital and physical-in the IP ecosystem, to track the origin of art and all manner of products.However, interestingly enough, as early as 2012 a whitepaper was published linking the idea of smart property by Nick Szabo and digital collectibles to blockchain and at the same time introducing the first kind of NFTs, colored coins 12 .