The blockchain technologies research and development firm, Nchain, has acquired three new patents that have been issued by the European Patent Office. The company’s latest intellectual property invented by Nchain’s chief scientist, Dr. Craig Wright, cover “digital rights management using blockchain.”
Nchain Acquires Three New Blockchain Patents
Nchain says that the Bitcoin Cash (BCH) network has the ability to disintermediate the current intermediaries within our financial transactions. Digital rights management allows creators of digital content the ability to ensure that they are paid for their work. Nchain asserts that the three new patents issued by the European Patent Office will help bolster digital rights management. Furthermore, the patents follow two other EPO grants acquired by Nchain on April 11 and June 20 – which apply to BCH deterministic key generation, and a blockchain registry and automated management method.
“These third, fourth and fifth patent grants by the European Patent Office marks demonstrate the value in Nchain’s program for blockchain innovation,” explains the Nchain Group CEO Jimmy Nguyen.
We will continue working to make blockchain technology more usable, for more advanced functions, by major enterprises around the world.
Digital Rights Management Using Blockchain
The three patents acquired by Nchain and invented by Dr. Craig Wright include:
EP3295349 “A method and system for verifying the 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. EP3295362 “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)