Ellen Britt for CNT #NFT
In our previous article, we began the first part of our new series on NFT Use Cases. Today, we take a closer look at Number Two on our list, protection of intellectual property and patents.
Old Skool Is Going Out The Window!
Unlike trademarks and copyrights, which are the old-school methods of staking a claim to a piece of content, NFTs allow you to actually prove ownership.
Because the blockchain on which the NFT depends is immutable, you can absolutely prove your ownership or that you were the original creator of a piece of intellectual property or a patent. This same data could also be used to create a way for the public to verify your ownership and rights to the patent or intellectual property.
IBM Gets In The NFT Patent Game
The amount of work the folks at the patent office have to do to keep up with transactions is burdensome at best and is also not error-proof. IBM and IPwe have already announced their plans to create an infrastructure to represent patents as NFTs, enabling the storing of records on the blockchain.
