LONDON, July 11, 2018 /PRNewswire/ -- nChain, the global leader in research and development of blockchain technologies, is pleased to announce issuance of another three patents by the European Patent Office. 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 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."
nChain works toward creating a stronger blockchain ecosystem focused on the Bitcoin Cash network. For any business seeking technical assistance with its enterprise blockchain strategy, contact nChain by email at [email protected].
ABOUT NCHAIN GROUP: The nChain Group is the global leader in research and development of blockchain technologies. Its mission is to enable massive growth and worldwide adoption of the Bitcoin network - focusing on Bitcoin Cash (BCH) as the true Bitcoin.