Five Considerations when Pursuing Patent Rights in the Blockchain Technology Space
A blockchain is a subtype of distributed ledger data structure, in which transactions are grouped into “blocks” that reference each other in cryptographic hashes. Technologies are developing that implement blockchains to solve all sorts of problems related to transactions: privacy, security, data integrity, double-spending, dynamic/smart contracting, payments, interoperability, etc. I started in this space over a year ago, when there was very little published literature on blockchain technologies, including published patent applications. Times have changed; now patent applications for blockchain technologies are readily available, with many patents granted. Blockchain technologies are a red-hot investment and development space right now and will be for at least the next couple of years. Many blockchain technology innovators begin with the same concerns. These concerns inspire the following five points of considerations for innovators in blockchain technologies who are interested in securing intellectual property rights.