Explore Blockchain Use Cases for the Legal Industry
- Protection of Intellectual Property Rights
- Digital Notary
- Digital Arbitration
Protection of Intellectual Property Rights
Information stored on the blockchain is publicly available, which will allow the tracking of changes in all recorded documents. Thus, professional musicians, artists, and content creators will be able to manage the rights to their work and easily resolve disputes.
The blockchain notary system irrefutably confirms the right to possess an asset, product, or service. Documents claiming the right to any type of property are assigned unique numbers: cadastral/land, licensing/software, and much more. This is perhaps the most technologically reliable tool to protect users from fraud and fakes.
The blockchain network will exchange the traditional arbitration model for decentralized dispute resolution. The decentralized environment will become safer if smart contracts are recorded in an unchanged, secure ledger that is free of intermediaries:
- reduce scams in voting procedures
- avoid fraudulent activities in governmental organizations
- provide identity validation
- provide integrity of public registry data
- improve and streamline the efficiency of insurance contracts
- reduce issues with data transparency
- provide public and legal data accessibility for relevant parties