Patent system using blockchain NFT

The current patent management system is plagued by issues such as long processing times, lack of transparency and potential for fraudulent activities. In this paper, we propose a blockchain based Non-Fungible Token system to address these problems. Our system utilizes Non-Fungible Tokens (NFTs) to r...

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Bibliographic Details
Main Authors: Umamageswaran, J., Angayarkanni, S. A., Megaraj, S., Naveen, M., Kumar, S. Beeshiyam
Format: Conference Proceeding
Language:English
Subjects:
Access control
Blockchain
Information management
Online Access:Get full text
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Description
Summary:The current patent management system is plagued by issues such as long processing times, lack of transparency and potential for fraudulent activities. In this paper, we propose a blockchain based Non-Fungible Token system to address these problems. Our system utilizes Non-Fungible Tokens (NFTs) to represent patents and stores patent information on a decentralized blockchain network. This ensures the immutability and transparency of the patent data and allows for a more secure and efficient patent registration and management process. We also discuss the potential benefits of using Non-Fungible Tokens (NFTs) for patent management and analyze the feasibility of implementing such a system.
ISSN:0094-243X
1551-7616
DOI:10.1063/5.0217542