China wants to test a prototype soon, with the help of which intellectual property such as patents can be protected against theft. Blockchain technology is to be used for this purpose. As reported by the Chinese news platform Peng Mei News, China is actively researching the design of a blockchain platform to protect Chinese innovation from theft. A pilot project of this kind is to start soon in Shanghai.

It is not always clear who is the originator of innovations, he says. Often, patents are not filed early enough or the patent law is not uniform enough globally. This problem is to be solved by means of Blockchain. Finally, the cryptographic security of distributed ledger technology (DLT) also includes a so-called time stamp. With this time stamp, sensitive data such as patents for source code can be stored on the block chain and assigned to the originator without any doubt via fingerprint.