An Overview of Blockchain Technology for Intellectual Property Management

Abstract

Blockchain is a distributed digital ledger of cryptographically signed transactions grouped into a chain of blocks. The emergence of Blockchain has changed how information can be stored and processed securely. The research interest in Blockchain has significantly evolved as the technology has found applications beyond the finance industry. Blockchain has gone beyond the simple financial transaction application to include being used to securely share patient records, smart contracts, digital identity and assets management. As the technology evolves more and more industrialists, researchers are starting to explore its potential use in managing intellectual property. This paper explores the feasibility of adopting Blockchain for IP management, highlighting potential challenges and possible solutions.