Blockchain Gets Real Across Industries - InformationWeek

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7/22/2021
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Blockchain Gets Real Across Industries

Blockchain use cases are exploding across industries because these days trust is 'a thing.' Here are 11 examples.
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A Global Registry of Patents

Credit: Pixabay
Credit: Pixabay

Patents are a type of global currency, though they're subject to local rules, which is why companies should at least consider registering patents in more than one jurisdiction. But what about buying and selling these assets? IPwe built what it promotes as the world's first global patent market that enables traditional patent transactions such as licenses, sales, and acquisitions. It also allows new classes of transactions such as reporting, financing, and insurance. The company built its platform on the Casper blockchain.

"Intellectual property is the largest and often most critical asset of most corporate balance sheets," said IPwe CEO Erich Spangenberg. "CTOs and CFOs today are taking a greater interest in how IP is tracked, managed and deployed. As obvious as it might seem to many executives, it is difficult to capture the benefits of an asset without a high level of confidence in the data surrounding the asset. IP has underperformed because of this."

Underperformed? Consider how many patents the high-tech industry alone represents. However, according to Spangenberg, the value of annual patent sales and licenses is estimated to be more than $180 billion, but only 2% of all patents are involved in those transactions. IPwe is trying to unleash the other 98%.

Lisa Morgan is a freelance writer who covers big data and BI for InformationWeek. She has contributed articles, reports, and other types of content to various publications and sites ranging from SD Times to the Economist Intelligent Unit. Frequent areas of coverage include ... View Full Bio

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