LONDON - nChain, the global leader in research
and development of blockchain technologies, announced in a press release issuance of
another three patents by the European Patent Office – according to official
website. These three patents, issued on July 11, 2018, are all methods to
enforce digital rights through the use of blockchain technology.
One of the key opportunities
offered by the Bitcoin Cash (BCH) blockchain is its ability to flatten the
commercial landscape through the removal of unnecessary intermediaries within a
transaction. Digital rights management is one such market where opportunities
exist to connect content producers directly to consumers while ensuring that
they are rewarded for their creativity. nChain’s three newly-issued patents
cover inventions that can facilitate this opportunity through use of blockchain
technology.
(1) European Patent number
EP3295349 is entitled “A method and system for verifying integrity of a digital
asset using a distributed hash table and a peer-to-peer distributed ledger”. This
invention uses a standard Bitcoin Cash transaction that includes additional
metadata to reference an entry within an external Distributed Hash Table (DHT)
where signatures of the digital asset, plus the signatures on the DHT and the
signature on the blockchain transaction itself, must align to demonstrate the
integrity of the asset.
(2) European Patent number
EP3295362 is entitled “A method and system for verifying ownership of a digital
asset using a distributed hash table and a peer-to-peer distributed ledger”. This
invention builds on the technique in the first invention above (EP3295349) to
add another set of cryptographic operations that allows the current ownership
of the digital asset to be validated.
(3) European Patent Office number
EP3295350 is entitled “A method and system for verifying ownership of a digital
asset using a distributed hash table and a peer-to-peer distributed ledger”.
This invention is a logical extension of the technique defined in the second
invention above (EP3295362); it allows the computer software to check the
rights of the user to execute such software prior to launching that software.
These latest patent grants follow
nChain’s earlier EPO grants on April 11, 2018 (for a registry and automated
management method for blockchain-enforced smart contracts), and June 20, 2018
(for a deterministic key generation to improve digital security).
nChain Group CEO Jimmy Nguyen
comments:
“These third, fourth and fifth
patent grants by the European Patent Office marks demonstrate the value in nChain’s program for blockchain
innovation. We will continue working to make blockchain technology more
useable, for more advanced functions, by major enterprises around the world.”
As previously announced, nChain
will collaborate with more enterprise partners to integrate blockchain
solutions, and is currently expanding its team to support such projects.
Nguyen adds:
“Bitcoin Cash is the all-in-one
coin and blockchain, with greater functionality than any other blockchain. It
is now time to help enterprises put BCH’s advantages into actual usage. We are
selecting key partners for projects to demonstrate significant new use cases,
which will benefit the entire Bitcoin Cash ecosystem.”