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Capturing lost intellectual property revenues with blockchain

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Capturing lost intellectual property revenues with blockchain

The transition to a more digitalized society based on an information economy has created intense pressure for companies to rethink their intellectual property (IP) management. Intangible assets can represent more than 80% of the value in a firm’s balance sheet, and intellectual property in the United States is now worth over $6 trillion in gross domestic product, according to the U.S. Department of Commerce.

Well-managed and leveraged IP can provide a company with a strategic advantage over the competition — not only in terms of customer acquisition, but also with investors and potential employees. Yet these valuable assets present a unique set of challenges for organizations wanting to capture the full value of their IP as it scales and matures.

A complicated web

Securing IP is a multifaceted task requiring expertise in law, cybersecurity and often the nature of the IP itself. Firms need complex and costly layers of security designed to protect confidential research and development and trade secrets from industrial espionage. IP that’s already in the public domain may be protected by patents, trademarks and copyright registrations.

Patents and trademarks are key to protecting company IP assets, but their handling and administration is a daunting proposition. The patent process, itself, may require filing in multiple jurisdictions, but agreements should be in place with employees, ensuring that they’re legally bound to protecting company secrets and stipulating the company’s copyrights over work produced by those in their employ.

To complicate things further, IP may be licensed under particular agreements between firms, which can work two ways. So, a company may have IP that it licenses to a partner, but it may also hold licenses for another company’s IP, creating a further paper trail.

Moreover, many companies don’t even have a comprehensive system or platform in place for managing their IP. Documents may be stored in multiple places or owned by different individuals. Then consider the sheer volume of sensitive and lucrative information that may be held in a company’s systems or in software run by external third parties.

Related: A cure for copyright ills? NFTs promise to empower creative economies

Far-reaching consequences

Failure to manage all this effectively can result in unquantifiable losses for firms. From the incident perspective, infringements on copyrights, trademarks and patents result in lengthy and costly lawsuits, along with intangible or indirect losses, such as reputational damage or increased insurance premiums.

However, the lost opportunity costs can be even more significant. The success of investments, including corporate mergers and acquisitions, can hinge on the effectiveness of work done in the due diligence stage when an investor or acquiring firm will expect to see all the assets, including the entire IP portfolio, of the target company so it can make a fair valuation. The inability to demonstrate a fair and accurate value of IP could affect a valuation significantly. Furthermore, ongoing IP disputes or outstanding lawsuits could also negatively impact investment.

Proof of ownership through tokenization

Firms can leverage blockchain to prove their ownership of IP-related assets. Assets are created on the blockchain as tokens, and each token transaction is recorded transparently, chronologically and with its own timestamp. All assets are protected by key cryptography, meaning that only the owner of an asset can authorize a transaction, and their key serves as evidence of ownership.

Related: Circling back to blockchain’s originally intended purpose: Timestamping

Effectively, any IP asset could be tokenized and assigned to a user or group who’s authorized to carry out transactions such as licensing. Over recent years, blockchain technology has also progressed to the point where it’s possible to handle complexities such as different permission levels for documents of varying sensitivity.

Transactions on a blockchain are immutable, and assets cannot be duplicated or destroyed. Thus, blockchain is a perfectly designed technology for the process of intellectual property management. 

Blockchain in practice

Large luxury firms are already making use of this technology to help protect IP in their supply chains. French multinational luxury goods conglomerate LMVH and Italian luxury fashion house Prada are among the firms spearheading the Aura Blockchain Consortium, a collaboration that aims to use blockchain to reap back some of the $30 billion or so the industry loses to counterfeiters each year.

The platform uses nonfungible tokens (NFTs), a unique digital asset, that accompanies a product such as a designer handbag on its lifecycle from the factory to the end buyer. The buyer can view the product’s journey as a series of transactions on the platform, and their NFT serves to authenticate their bag as the genuine article.

Related: Nonfungible tokens: A new paradigm for intellectual property assets?

In an even more ambitious move, blockchain and NFTs are also transforming the way that IP is licensed and sold. For instance, IPwe has developed a platform to support the global patent market, allowing patents to be licensed and transacted as tokens on a blockchain. Companies can manage and track IP-related assets and transactions in one place, and license or sell IP near-instantly, securely and with anyone in the world. The platform aims to unite the world’s patent data onto its Global Patent Registry, overcoming the many challenges of the current patent landscape, including geographical silos, onerous documentation requirements and slow processing times. 

Another example is SharpShark, a startup leveraging the Symbol blockchain platform to offer timestamping solutions for content creators to protect their intellectual properties. Similar technologies are used by blockchain content protection firm Custos Media Technologies. 

These are just a few scenarios, but there are many more. Summing up the challenges of IP could perhaps best be described as using 20th-century tools and processes to manage 21st-century assets. They’re no longer fit for purpose and don’t allow firms to get the maximum value from their IP. Over the coming years, firms will come to depend on technologies to overcome their legacy challenges with IP management, protecting their assets and unlocking lost value.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Mrinal Manohar is the CEO and co-founder of CasperLabs. He has a career as both a computer programmer and a finance professional. Before founding Casper, Mrinal was a principal and the technology, media and telecom sector head at a roughly $1 billion long-only hedge fund (Sagard Capital), a private equity associate at Bain Capital in Boston, and an associate consultant at Bain & Company. Mrinal has been investing in the blockchain industry since 2012 as a seed investor in Ethereum, Blockstack, Basis, Maker, Filecoin and more.

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BTC, ETH, XRP, ZEN, UNI, OMG, AXS — Technical Analysis Sept 28

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BTC, ETH, XRP, ZEN, UNI, OMG, AXS — Technical Analysis Sept 28

Bitcoin (BTC) was rejected by the $44,000 horizontal resistance area.

Ethereum (ETH) is following a descending resistance line and potentially trading inside a descending wedge.

XRP (XRP) is following a descending support line.

Horizen (ZEN) has broken down from an ascending support line.

Uniswap (UNI) has broken out from a descending wedge.

OMG Network (OMG) is following an ascending support line.

Axie Infinity (AXS) has broken out from a descending resistance line.

BTC

On Sept 27, BTC was rejected by the $44,000 resistance area and created a long upper wick (red icon). This is a bearish sign since the area had previously been acting as support, and the rejection now validates it as resistance.

Technical indicators in the daily time frame are bearish. Both the RSI and MACD are decreasing. The former is negative while the latter has just fallen below 50.

The next closest support area is found at $38,000.

ETH

ETH has been decreasing underneath a descending resistance line since Sept 3. Most recently, it was rejected by the line on Sept 16.

Due to the long lower wicks, the support line cannot be accurately determined. However, it’s possible that ETH is trading inside a descending wedge.

Despite the wedge normally being considered a bullish pattern, technical indicators are neutral. The RSI is right at the 50-line and the MACD is below 0, although it is increasing.

Therefore, the direction of the trend cannot be accurately determined at the current time.

XRP

XRP has been following a descending support line since Aug 17. So far, it has been validated multiple times, most recently on Sept 21. The final touch of the support line (green icon) also coincided with the 0.618 Fib retracement support level at $0.85.

Despite the fact that XRP is trading above a confluence of support levels, technical indicators are not bullish. The RSI is at the 50-line and the MACD is negative, even though it is moving upwards.

The closest support and resistance levels are found at $0.76 and $1.07 respectively.

ZEN

ZEN has been decreasing since Sept 15, after creating a double top pattern and a long upper wick. The pattern was also combined with a bearish divergence in the RSI.

Shortly after, it broke down from an ascending support line. The breakdown is supported by the MACD and RSI, which are both decreasing.

The closest support area is found at $53.

UNI

UNI has been decreasing since Sept 2. After the Sept 7 drop, it created a descending wedge, which led to a low of $17.73 on Sept 26.

However, UNI rebounded and broke out from the wedge. The breakout is supported by the increasing MACD and RSI.

The closest resistance area is found at $26.15, created by the 0.618 Fib retracement resistance levels.

If UNI is successful in moving above it, it may move toward new highs.

OMG

OMG has been following an ascending support line since July 20. However, since Sept 6, it has failed to break out above the $10.60 area, which is the 0.618 Fib retracement resistance level.

Despite the rejection, technical indicators are bullish. The RSI has generated a hidden bullish divergence and the MACD is positive.

Therefore, an eventual breakout would be likely. This could take OMG toward the $15.33 all-time high price.

AXS

AXS has been increasing since Sept 21 when it bounced at the $48.28 support area. The next day, it created a bullish engulfing candlestick and broke out from a descending resistance line.

Following this, it reclaimed the $63 horizontal area and validated it as support.

Both the MACD and RSI are increasing, supporting the continuation of the upward movement.

The next resistance area is found at the all-time highs of $94.50.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Bitcoin (BTC) Fails to Move Above $44,000 Resistance

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Bitcoin (BTC) Fails to Move Above $44,000 Resistance

Bitcoin (BTC) attempted to move upwards on Sept 27 but was rejected by the $44,000 resistance area.

While BTC is still trading inside the upper portion of a descending parallel channel, the price action is lacking bullish signals.

BTC gets rejected

On Sept 27, BTC made an attempt at moving above the $44,000 area but was promptly rejected (red icon). The area had acted as support in August and the beginning of September but turned to resistance after the breakdown on Sept 20. The rejection created an upper wick and a bearish candlestick. 

Besides trading below resistance, technical indicators for BTC have turned bearish as both the RSI and MACD are decreasing. The MACD has just crossed into negative territory while the RSI is below 50. 

If BTC were to continue moving downwards, the next closest support area would be found at $38,000.

Current channel

The six-hour chart shows a descending parallel channel, which usually contains corrective structures.

Currently, BTC is trading inside its upper portion. Furthermore, it’s trading just above the 0.5 Fib retracement support level.  

Despite being above a confluence of support levels, technical indicators are bearish/undecided. The MACD is negative and has lost its strength while the RSI has just fallen below 50.

The two-hour chart shows that BTC is following an ascending support line and has made three higher lows since Sept 21. While this can be seen as a bullish structure, the price action is not bullish. 

The previous resistance area at $43,000 that was expected to act as support did not. On the contrary, BTC fell right through it. Furthermore, both the MACD and RSI have turned bearish.

While there is very strong support at $41,500, created by the 0.786 Fib retracement support level and the ascending support line, the price action does not seem bullish.

Wave count

The most likely wave count still indicates that the decrease from Sept 7 to Sept 21 was part of an A-B-C corrective structure, in which waves A:C had an exact 1:1 ratio. This is also supported by the presence of the descending parallel channel.

However, the movement since the low does not seem impulsive, casting some doubt on the possibility of this being the correct count.

Alternative counts could see the movement as a flat A-B-C corrective structure (upper image), or in the more bearish case a 1/2-/1-2 wave structure (lower image). 

At the current time, the correct count cannot be determined.

For BeInCrypto’s previous Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Europe becomes largest crypto economy with over $1T in transactions — Chainalysis

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Europe becomes largest crypto economy with over $1T in transactions — Chainalysis

DeFi has become a major catalyst for Europe’s crypto economy. Large institutions have also upped their share of transactions significantly.

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Europe becomes largest crypto economy with over T in transactions — Chainalysis

The region of central, northern and western Europe, or CNWE, has emerged as the world’s most active cryptocurrency block, receiving over $1 trillion worth of digital assets over the past year, according to new research from blockchain analytics firm Chainalysis. 

The report, which was released Tuesday, found that the CNWE region accounted for 25% of global crypto activity between July 2020 and June 2021. The region witnessed a sharp uptick in transaction volume across all crypto sub-categories, especially decentralized finance, or DeFi.

Chainalysis describes crypto transactions as anything involving trade, investments and business dealings.

Europe has also become a hotbed for institutional investing, with transactions values in this category growing to $46.3 billion in June 2021 compared with just $1.4 billion in July 2020. Perhaps surprisingly, the United Kingdom is the single largest crypto economy in the region at $170 billion worth of transactions. Nearly half, or 49%, of the value was sent via DeFi protocols.

“The U.K.’s growth is driven mostly by growing institutional investment, based on the large-sized transfers driving most of its transaction volume,” Chainalysis senior content marketing manager Henry Updegrave told Cointelegraph. 

A secular bull market for Bitcoin (BTC), the growth of competing smart contract platforms and the arrival of decentralized finance all contributed to crypto’s massive rally during the study period. It comes as no surprise that CNWE’s crypto market activity peaked in May 2021 during the height of the bull market, which was one month removed from Bitcoin hitting $64,000.

Chainalysis’ data corroborates a growing body of evidence showing that large institutional investors have become a driving force within crypto. Wealth managers, family offices and other institutional players have poured billions of dollars into Bitcoin and Ether (ETH) investment products offered by Grayscale, CoinShares, 21Shares and others.

Related: Crypto asset manager Cobo raises $40M to launch DeFi-as-a-service

Beyond the advanced economies of Europe, Chainalysis research has documented the growing uptake of crypto in emerging markets. The Chainalylsis 2021 Global Crypto Adoption Index named Vietnam, India and Pakistan as the leading countries for adoption based on on-chain value received, retail transactions and peer-to-peer exchange trade volume.

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