Intellectual property has an awkward fit in Web3 decentralization — Lawyers
IP rights will continue to be an area of conflict within Web3 and NFTs, but there's no easy solution, lawyers told Cointelegraph. Intellectual property (IP) rights will continue to be a growing area of tension within Web3 and NFTs, as IP rights often rely on a single "identifiable entity," while Web3 is more often decentralized. Speaking to Cointelegraph, David Kappos, a partner at Cravath, Swaine & Moore LLP said that IP is traditionally “owned by an identifiable entity, which makes it necessarily centralized from a legal viewpoint.”Kappos suggested that the tension between IP and....
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An assertion of property rights on the part of a DAO could be healthy for decentralized finance — another sign that DeFi is maturing. Curve Finance, a decentralized exchange for stablecoin trading, is one of the world’s largest decentralized autonomous organizations (DAO), with $6.5 billion in deposits, but last week, one of its token holders made an unusual proposal:The Ethereum-based DAO should “engage competent counsel” — both in the United States and other relevant jurisdictions — to prevent other DAOs from the “wholesale copying” of its software code. Why is this unusual? In the....
Stampery, a service that certifies records and documents on the blockchain, says lawyers working with sensitive documents are one of its main user groups, according to International Business Times. The other two main groups are creatives looking to establish ownership rights and companies that generate prior art of intellectual property. Lawyers receive a lot of documents and have to do a lot of due diligence, including getting documents notarized. By using Stampery, they can drag and drop zip documents to Stampery rather than sending them in a CD to a notary. Stampery provides irrefutable....
While the world has evolved from storing and transferring information from paper to cloud storage, data is still not entirely protected. The existing cloud storage system used for sharing information while encrypted is centralized, and centralized systems have the inherent disadvantage of being vulnerable to hacks and attacks. However, decentralized solutions such as blockchain technology have become an excellent alternative because of their immutability. Sharing intellectual property through the blockchain network can create a more secure and reliable system because of its several....
A blockchain technology company based in Berlin called Ascribe is using the bitcoin-related ledger to help protect artists' intellectual property. The company can enable artists to retain credit to their work even when sharing their work online and can also transfer or sell their rights without having to go through a third party. These are just one of the many blockchain technology applications being harnessed currently, as some have used the ledger to create a secure land registry database or to protect digital files. Blockchain is considered immutable, as the ledger is publicly stored....
After claiming he’d filed formal complaints with the FBI, the man who alleged that Ethereum is his stolen intellectual property says he is making his first attempt to contact the media about the theft. Although Vitalik Buterin is the identified brain behind the Ethereum project which has gained notoriety especially for its smart contract feature, Jared Mimms claims that Buterin stole his idea. Mimms’ claim. In an email to CoinTelegraph on July 9, Mimms states: “Ethereum is intellectual property stolen from me. I filed analogous property with Omega Genomics. Vitalik Buterin saw my company....