Fair and transparent patent information systems

[shortingbanks]

We all know that blockchain is un-hackable, immutable, auditable, transparent. It reduces the number of intermediaries.

In the IP space, blockchain can help perform a number of activities: Evidence of the rights, record keeping, register and clear rights, control and track the distribution/trade of rights, establish IP contracts.

I came across new technology that basically helps with inbuilt regulation. It maybe easier to use Business Blockchains like Concordium that may help with regulatory compliance and onchain verification, thereby giving legal recourse in case of patents giving them a new meaning.

Patents are distributed across countries by nature. There is no single registry for patents, but many dispersed around the world. Hence, the idea of a distributed network provides a smart solution to patent offices. But the real benefit of blockchain is the presence of smart contracts. Where dispute addressable and patent approval can be recorded on blockchain and visible and verifiable to all.

Why haven't we started already?