The given article discussion will primarily focus on the topic of intellectual property in regards to blockchain instruments. The use of blockchain is becoming increasingly common in a wide range of areas of intellectual property, which include intellectual property confirmation, intellectual property transactions, intellectual property protection, and intellectual property incentive mechanism (Wang et al., 2019). Blockchain can be highly useful in making intellectual property, especially digital ones, protected and transferred without fear of replication since the value can be lost. For example, non-fungible tokens or NFTs are prime illustrations of a digital intellectual property being encrypted by a blockchain mechanism, and thus, such digital products or works can hold value and be protected as well as transferred.
Although it is intuitive that blockchain can be highly useful in regards to content and entertainment, the applications are also significant in the academic field, such as concept discussion, specific application, or architecture design (Wang et al., 2019). A business owner will find blockchain highly useful and relevant as a key to intellectual property protection since the majority of current products and services have some form of a digital element, such as online brand, logo, marketing strategies, or even innovative concepts.
Reference
Wang, J., Wang, S., Guo, J., Du, Y., Cheng, S., & Li, X. (2019). A summary of research on blockchain in the field of intellectual property. Procedia Computer Science, 147, 191–197. Web.