Blockchain for IP
Vaultitude's underlying Blockchain technology is the combination of known and reliable technologies that offers exciting perspectives for the legal services and intellectual properties industry by acting as a trustworthy record keeper. Absolute transparency, security and immutability of data ensures that Vaultitude provides innovators with the evidence needed to better protect their rights in legal proceedings, in court or in their interactions with third parties and patent or trademark offices. Thanks to the system's online availability and easy-to-use browser based interface, billions of users can effortlessly profit by this tool for improved IP protection. Leading stakeholders and regulators in the intellectual property field support this technological breakthrough and feel confident that Blockchain technology could be more impactful on the IP industry than it has been even to the financial services industries.
By combining distributed network technology, asymmetric cryptography and the ability to create digital fingerprints of files with self-executing transactions called smart contracts, Information held on a Blockchain exists as a shared database hosted by thousands computers, with all its information being publicly accessible and easily verifiable and no centralized version of this information that could be hacked or otherwise corrupted.
Most importantly, information saved on a Blockchain database remains immutable, with no central authority or user being able to edit original filings or their respective dates, creating a truly trustworthy record.
Blockchain based records are available online and therefore truly public and easily verifiable.
By storing information across its whole network, the Blockchain cannot be controlled by any single entity and has as no single point of failure, which could be hacked.
Each new block contains the fingerprint of all blocks before it. This means no one can go back and change a single block.