According to Cointelegraph, a professor from the Texas A&M University School of Law recently published research exploring blockchain technology use cases in the world of copyright administration. With insights from their findings, blockchain has the potential to alter the way intellectual property is handled both “domestically and internationally.”
“On a blockchain, once a transaction has been recorded, it is virtually impossible to alter that record. Should the transaction be wrongly recorded, a new transaction must be hashed into the blockchain to provide correction. The immutability feature has therefore made blockchain technology very attractive for registering copyright, storing ownership and licensing records, or completing other similar tasks,” Peter Yu, regents professor of law and communication, director, Texas A&M University School of Law’s Center for Law and Intellectual Property, explained.
Sources revealed that the research also mentioned other benefits of blockchain including traceability, transparency and disintermediation, Cointelegraph added.
Furthermore, the final benefit discussed in Yu’s paper, disintermediation, involves blockchain’s ability to operate independently of a governing body, Cointelegraph concluded.
(With insights from Cointelegraph)
