One of the world’s leaders in research and development of blockchain technologies, nChain, has announced that it has received 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. 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).
As Bitcoin Cash (BCH) blockchain offers the 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 the use of blockchain technology.
The Three nChain Patents
(1) European Patent number EP3295349 is entitled “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.
(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.
According to nChain Group CEO, Jimmy Nguyen, these third, fourth and fifth patent grants by the European Patent Office demonstrate the value in nChain's program for blockchain innovation. nChain will continue working to make blockchain technology more usable, for more advanced functions, by major enterprises around the world.
As previously announced, nChain will also collaborate with more enterprise partners to integrate blockchain solutions and is currently expanding its team to support such projects. nChain works toward creating a stronger blockchain ecosystem focused on the Bitcoin Cash network.