2 min video looking at different ways Blockchain technology is being used to help protect IP.According to a study carried out in 2019 by the European Union Intellectual Property Office(EUIPO) and the Organisation for Economic Co-operation and Development(OECD), Intellectual Property (IP) infringement may account for up to 6.8% of EU imports, or \u20ac121 billion of fake goods per annum. Recently, the US Supreme Court refused a re-trial of a long-running legal case where it was claimed that damages could amount to over $58 million regarding the IP one of the most famous songs in the world, Led Zeppelin\u2019s \u2018Stairway to Heaven\u2019. Potentially, the case could have been resolved a lot faster had the song been registered on a database when first written.Transporting us out of the 1970s to the present day, TikTok, the Chinese social network which has 600+ million users (many of which make $millions of dollars a year in advertising, sponsorship and merchandise revenue) has not taken any steps to protect the IP on its images posted onto the site. So it ought to be of no surprise for Jack Ma, the canny Chinese business magnate, that his Ant Group is using Blockchain technology to keep a time-stamped register of copyright material \u2014 such as from music, videos, images and written documents (articles and essays). Ant Group states that, at present, more than 10 million original works are certified every day on the platform. Rather ironic though, that to promote the AntChain register it uses a track from Rodgers\u2019 and Hammerstein\u2019s The Sound of Music! Ant Group has much experience with patents as both itself and its former parent company, Alibaba, own over 1,500 Blockchain patents with 1 billion clients and having transacted $17+trillion. This is 25 times the amount of payments PayPal has processed to date in\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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