So, now that the dust has settled, does the reality match the hype?Īt first, it seemed so. In early 2022, Bitcoin and other cryptocurrencies were worth a combined $3 trillion. Indeed, the promise of blockchain seemed limitless with the creation of bitcoin in 2008. It was soon followed by the launch of a thousand different cryptocurrencies. Corporations of all sizes, banks and governments all were eager to capitalize on the opportunity offered by this new technology. Today, we will focus on unravelling this original premise of blockchain as it applies to protecting intellectual property (IP). In other words, does blockchain eliminate the need for trusted third parties when it comes to protecting and proving IP ownership? We now know that one of the central rationales for blockchain was to create a decentralized and trustless system for maintaining a digital ledger of transactions. This is our second article in our series on blockchain technology. If you haven’t yet, you can check it out here.
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