#patenting blockchain

[texploration]

Blockchain and AI

As our digital universe expands, two celestial bodies have emerged, illuminating the technological night sky with their brilliance: Blockchain and Artificial Intelligence. Like twin stars in a binary system, they each possess their own luminosity, yet their combined radiance offers a beacon of potential that is far greater than the sum of their individual lights. Blockchain, at its core, is a…

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#ai #artificial intelligence #blockchain #crypto #cryptography #IP #patent #tech

[blockchainnftgaming]

NFT: government agencies seek comments on NFT IP; Opening of new trading platforms - Fin Tech

NFT: government agencies seek comments on NFT IP; Opening of new trading platforms – Fin Tech

December 06, 2022 BakerHostetler To print this article, all you need to do is register or login to Mondaq.com. In connection with a joint investigation into intellectual property (IP) and non-fungible tokens (NFTs), the United States Patent and Trademark Office (USPTO) and the United States Copyright Office (USCO) published a notice in the Federal Register last week. soliciting public comment…

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#bitcoin #Blockchain #Copyright #cryptocurrency #Fin Tech #Intellectual property #mondak #NFTs #Patent #performance #SPK #Technology #Trademark

[vaibhav-313]

Find out which industries are most likely to be disrupted by blockchain technology.

#IPanalytics #ip #intellectualproperty #patentportfolio #innovation #ipstrategy #patents #intellectualpropertyrights #patentanalytics #patseer #patentsearch #ipportfolio #blockchain #technology

[copperpodip]

#prior art searches #patent #infringement #intellectual property #blockchain #social media

[pritykhastgir]

#ahatelecom #business start ups #blockchain #do you own a registered trademark in india? #international patent classification #6g #airwaves

[doubleddenden]

The topic of Palworld is pretty charged, but often times I see people be shamed for liking it because the CEO tweeted stuff about NFTs and the company using AI art in a separate game. Acting as if that's the most damning thing ever for a gaming company in an industry filled with similar people.

Make no mistake, I dislike both AI art and nfts, but do you realize how many gaming companies have involvement with that?

To begin with, Pokémon used AI art in a promotional piece for Pokémon Go in September, and nobody gave a shit because uwu Pikachu. The Pokémon Company also put a job listing some months back seeking an expert in NFTs. That's not quite damning evidence, but if I were a betting man, no "NFT expert" will willingly say "yeah nfts suck are bad for the environment, man, I'll take my paycheck and fuck off now." There's also a strong argument to be made that Pokémon has stolen ideas from fakemon artists (Finizen and Palafin, Scovillain, Dipplin, etc) and other franchises (kaiju movies, Dragon Quest, Megaman, final fantasy, western cartoons and food mascots, etc), a dubious legal statement that claims they own all fan art from the remixes and fakemon made on youtube to the pikachu your kid drew at breakfast; they have yet to apologize for the state of Scarlet and Violet while charging full price to millions of paying customers for a clearly unfinished and barely functioning game (which i did enjoy, but you can't tell me it was finished baking when it struggles not to shit itself just to run), and a bunch of other things people shit on Palworld for, but A. It's Pokémon so people don't care and think it's fine, and B. That's not the point of this post.

You know who else does NFTs and AI art? (Yes I heard Muscle Man from Regular Show in my head just now, too, moving along)

Square Enix sold several of their IPs for NFTs and claims to have used AI art "a minimum amount" in Foam Stars, yet I see nobody yelling for boycotts of Final Fantasy 14, 16, Kingdom Hearts, Dragon Quest, Life is Strange, etc etc etc.

Sony has invested in both, they want to implement AI into gaming, and has a patent for nfts to be used in games and consoles, yet there's no movement to throw out your playstations.

Bandai Namco- you know, that company with a hand in pretty much most anime games on the market and popular games such as the Dark Souls games? They have a game called RYU that's essentially a virtual pet game that uses the blockchain, and its AI driven, among other projects. Yet there's no outcry to stop playing the many, MANY games they brand with. This also includes quite a few Nintendo games (btw they just partnered together to form a special studio quite recently) like Smash Wii U/3ds and New Pokémon Snap. Nobody gives a shit though.

Android, Microsoft, Google, Apple- I don't even need to explain those, they have whole teams dedicated to both. Even popular VPN companies accept crypto.

I'm just saying an awful lot of you guys that scream and shit bloody murder about Palworld's company being involved with that shit are either the biggest "It's okay when my favs do it" type of hypocrites, or you're sorely ignorant to just how evil and greedy most corporations are. You'll be hard pressed to find a game company with popular AND fun games that DOESN'T have some interest in either, let alone movie and show studios. That's the awful reality we live in.

You have 2 options

1. You basically stop doing anything involving most modern tech, including throwing out your pc and smart phone. You could probably live a comfortable life with tech circa 2010, but you have to be aware that any thing you buy may go towards a cause you don't like.

2. You accept that people can enjoy a product while not necessarily agreeing with the CEO of said product. Most CEOs tend to be jackasses anyway, that's kind of the shared trait they all have. You can also discourage companies from using them while understanding it is everywhere.

Palworld at the end of the day is just a toy, that's it. From the looks of it, it's not even actually hurting anyone, and it seems like the company at least treats their employees pretty decently- at least according to a few things I've seen here and there that seems rather progressive for a Japanese studio (with room for doubt obviously, it's a company after all and as we've established, they're all evil). At the least its not like when people supported Hogwarts Legacy and directly put money into JKR's wallet so she can openly hurt more Trans women. In fact, the only people seemingly hurt in all of this Palworld drama are obsessed Pokémon stans that can't accept a parody, or the Pokémon Company themselves, who rightly deserve some punching up tbh.

You can just say you dislike the game, that's fine, I totally get that. Even though I personally think The Pokémon Company deserves a few nut shots after the way they've treated fans these last few years with the state of their games (and you know, stealing ideas from fans without credit), I can see why someone would be turned away from a parody that's literally meant to be Pokémon with guns. I can totally understand all of that, personally I'd prefer if the game was MORE like Pokémon with turn based combat.

But if you're going to defend Pokémon because you think its perfectly innocent because of Wooloo or something like that, just be sure you're aware you're defending the World's Richest Franchise and their own attempts at AI and NFTs while calling out an indie company (a real one thats learning as they go, not the fake "We're totally indie" franchise that hasn't been indie since gen 3) for having a ceo that also seems interested in the same stuff. And remember, you don't become number 1 without hurting people somehow (we could dig up receipts about certain partners Pokémon has teamed up with, such as Tencent with Unite, but I'd rather not right now.)

Just saying. I don't think you're an irredeemable person for still liking Pikachu, cuz I do too believe it or not. I've been a life long fan and still have fun with the games despite the clear scummy business practices towards their paying customers. Just maybe extend that courtesy to the millions of players just trying to have fun in this awful, putrid, shithole planet that just keeps getting worse and worse with each passing day.

Plus... you know, think about it. Do you think Pokémon would ever get around to making a gunless Palworld? Probably not. Do you think Palworld would exist if The Pokémon Company and Nintendo were the slightest bit chill about Pokémon fan projects like SEGA is with Sonic? Also probably not. From what I've read, the devs just wanted to make a fun game that happens to mostly be ARK with Pokémon adjacent monsters. That's not really a bad thing, all things considered, and it seems like the worst they've done is reference official Pokémon when making their own models.

Palworld being successful is actually beneficial to Pokémon fans, as well. It'll never really truly compete, but it has outsold Legends Arceus in terms of units sold (not as much financially because Palworld was only $30 plus a sale recently, but still impressive), and it is enough that Game Freak is aware of its existence. Let Palworld light a fire under their ass, and maybe GF will actually finish their next game before releasing it for full price (and no, we're not bringing up the tired imaginary ball and chain game devs, game freak owns 1/3rd lf the franchise and can easily take methods to get more dev time, they just haven't because money). Just saying, at least the Paldevs were honest enough to sell it in early access for half the price.

#palworld

[seat-safety-switch]

Tires cost a fortune. You can buy a car for $200, or at least you used to be able to, and easily spend double that on a set of rock-hard ditch-finders from the local tire shop. When I asked a tire company executive about it, they weasel-worded some mouth grease about tires being “expensive to ship.” Obviously, the only way I was going to get through this was to open a tire factory of my own.

This isn’t unusual. Tire factories used to dot this proud nation in a time before AliExpress and Amazon Secondus. Folks just like you and I would go to work and eke out a reasonable, middle-class existence – with a pension – putting high-quality tires under our neighbours’ cars, for cheap. Eventually, some spreadsheet said this was no longer cost-effective, and now we have to order our tires from another country.

I’m sure they have lots of good reasons for this. Tires are a lot better since the sixties and seventies: for instance, when it starts to snow, not everyone within a 50 mile radius of your car is instantly killed. You can brake harder into corners and also take them at greater speed, without them getting all greasy and knobbly as they heat up. You would expect this improved technology to cost more money, which means that the big tire executives needed to outsource it in order to make the final price more affordable.

Of course, this is patented bullshit. If you’re not interested in profit, you can make inexpensive, good tires all day long. Switch Tire Company, being technically a subsidiary of Switch Investment Corporation, is run entirely at a loss. We simply bet against ourselves every day, shorting our stock on the open market. People take the other side of it, maybe because we keep renaming our company to things like “Switch Blockchain Expressions” or “Switch Artificially Intelligent Hookerbots,” the sort of names that make the casual Wall Street Tier 1 investment bank think that we’re up-and-comers. Then we pour the money we made off their backs into running off a new set of race tires.

Sure, I could have used this kind of business acumen to do something other than lose money making tires for shit-box cars. How else was I going to be able to find 13-inch tires that are 10 inches wide?

[harrelltut]

JEHOVAH OKCULT BIBLE [JOB] BUSINESS WITNESS 1968-michaelharrelljr.com's 1st ALL-SEEING OMNIPRESENCE Hi:teKEMETICompu_TAH [PTAH] EYE of GOD… since ijehovahgod.tech SKY KINGDOM LORD of Tama-Re Deity HATHOR's [tama-re-deityhathor.com's] Shamballah & aghaarta.com Domain Communication [D.C.] Portal Address [PA] Accessing [PA] 6g-quantumharrell.tech’s BLK-CRYPTO LLC's ancient6-18gmilitary.tech CLOUD Patents w/Restricted 1968 Identity Access Management [I AM] Protocols [I/P] @ quantumharrelltech.com… Securely Exchanging Extensible [SEE] Media Commerce Languages of Ancient [L.A.] Hi:teKEMETICompu_TAH [PTAH] Digital Rights Encrypted by Application Management [DREAM] Protection Laws @ The_Octagon_(Egypt) of ITU Telecommunications [iTUTonline.com] Standardization Sector of kingtutdna.com’s Pharaonic MENES Intergovernmental [MI = MICHAEL] EMPIRE [ME] of 1968-michaelharrelljr.com’s quantumharrelltelecom.tech SKY Earth [Qi] KINGDOM

WELCOME BACK HOME IMMORTAL [HIM] U.S. MILITARY KING SOLOMON-MICHAEL HARRELL, JR.™

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Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com... the 6-18g Militarization ILLUMINATI [MI = MICHAEL] of Hi:teKEMETICompu_TAH [PTAH] Tech Patent WEALTH @ quantumharrelltelecom.tech

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Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] NEW WORLD ORDER [NWO] ÆGIPTIAN Business [NEB = NEBUCHADNEZZAR] Family @ quantumharrelltelecom.tech

Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] Shamballah & aghaarta.com Domain Communication [D.C.] Portal Address [PA] @ quantumharrelltelecom.tech

Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] Hieroglyphic Arts & Language [H.A.L.] Architecture [HA = HARRELL] @ quantumharrelltelecom.tech

Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] Applied Quantum Cryptography @ quantumharrelltelecom.tech

Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] CYBERSECURITY FOR BUSINESS ORGANIZATIONS @ quantumharrelltelecom.tech

Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] CYBERSECURITY SOLUTIONS USING BLOCKCHAIN @ quantumharrelltelecom.tech

Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] ADVANCED BLOCKCHAIN TECH @ quantumharrelltelecom.tech

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Eye Quantum [EQ] Computing Intel Architect [CIA] Technocrat 1968-michaelharrelljr.com… 1st 9 Ether ALUHUM ANUNNAGI TECHNOCRAT of TIAMAT'S [AT&T'S] Shamballah & aghaarta.com NUBIANS @ quantumharrelltelecom.tech

SEE?!?!?!

1968-michaelharrelljr.com's 1st ALL-SEEING OMNIPRESENCE Hi:teKEMETICompu_TAH [PTAH] EYE of GOD @ THE TOP

EYE SEE U B4 U C ME… I [MI = MICHAEL] ALL [MA] SEEING EYE ILLUMINATI of ancientqueencalafia.tech's silentwealth-illuminati.com DEPARTMENT OF 1968-michaelharrelljr.com's NEW GOLDEN 9 ETHER [G.E. = ge.com] ALUHUM SKY [GEAS = GAS.com] ANUNNAQI TREASURY.gov @ © 1698-2223 quantumharrelltelecom.tech

© 1698-2223 quantumharrelltech.com - ALL The_Octagon_(Egypt) DotCom [D.C.] defense.gov Department Domain Communication [D.C.] Rights Reserved @ quantumharrelltech.ca.gov

#u.s. michael harrell #jehovah god #michael jehovah #quantumharrelltech #king tut #mu:13 #harrelltut #kemet #o michael #quantumharrelltut #9 ether aluhum anunnagi #enqiback #9 ether #department of the treasury #department of defense #department of defense contracts #jehovah michael #new world order #you scared

[mostlysignssomeportents]

This day in history

Today (May 22), I’m keynoting Public Knowledge’s Emerging Tech conference in DC.

Tomorrow (May 23), I’ll be in TORONTO for a book launch for Red Team Blues that’s part of WEPFest, a benefit for the West End Phoenix, onstage with Dave Bidini (The Rheostatics), Ron Diebert (Citizen Lab) and the whistleblower Dr Nancy Olivieri.

#20yrsago Dear Hollywood: neener neener neener https://web.archive.org/web/20030524173415/http://www.instapundit.com/archives/009672.php

#20yrsago EFF on Total Info Awareness https://web.archive.org/web/20030528233343/https://www.eff.org/Privacy/TIA/20030523_tia_report_review.php

#15yrsago Villagers from three continents will confront Chevron execs at annual meeting https://web.archive.org/web/20080520120807/https://www.chevrontoxico.com/

#10yrsago How London cops use social media to spy on protest movements https://www.itnews.com.au/news/police-tap-social-media-in-wake-of-london-attack-344319

#10yrsago Vermont passes anti-patent-troll law https://www.cbc.ca/news/business/vermont-enacts-1st-u-s-law-against-patent-trolling-1.1372639

#10yrsago RIAA losing money, firing employees, giving execs raises https://torrentfreak.com/riaa-makes-drastic-employee-cuts-as-revenue-plummets-130522/

#10yrsago Forging £1 coins is apparently profitable https://www.bbc.com/news/uk-england-london-22612487

#5yrsago 500,000 home routers have been infected with VPNFilter, malware that steals data and bricks devices https://arstechnica.com/information-technology/2018/05/hackers-infect-500000-consumer-routers-all-over-the-world-with-malware/

#5yrsago The FBI’s mountain of uncrackable crimephones was nearly entirely imaginary https://www.emptywheel.net/2018/05/23/did-the-fbi-have-a-chance-to-fix-their-lies-about-encryption-in-2016/

#5yrsago A free internet is a configurable internet https://www.oreilly.com/content/cory-doctorow-on-the-fight-for-a-configurable-and-free-internet/

#5yrsago The Democratic candidate for the Georgia governorship is a Black woman running on an “unapologetic progressive” platform https://web.archive.org/web/20180523065423/https://politics.myajc.com/news/state--regional-govt--politics/georgia-election-stacey-abrams-wins-democratic-primary/eNWNZU440VRD1tQsZ0XY2K/

#5yrsago A hard look at the wastefulness of “proof of work,” the idea at the core of the blockchain https://davidgerard.co.uk/blockchain/2018/05/22/bitcoins-stupendous-power-waste-is-green-apparently-bad-excuses-for-proof-of-work/

#5yrsago Charlie Stross on the “soft genocide” of eugenics-tainted, alt-right climate dystopia https://www.antipope.org/charlie/blog-static/2018/05/happy-21st-century.html

#5yrsago The Computer History Museum just published the sourcecode for Eudora https://computerhistory.org/blog/the-eudora-email-client-source-code/

#5yrsago The company that made Grenfell Tower’s flammable, poisonous insulation used dangerous lies to make hundreds of sales https://www.independent.co.uk/news/uk/home-news/grenfell-tower-fire-latest-inquiry-london-cladding-building-safety-uk-celotex-a8362186.html

#5yrsago Court rules that Trump can’t block people on Twitter https://www.eff.org/press/releases/victory-first-amendment-court-rules-government-officials-who-tweet-public-cant-block

#1yrsago SPACs were hugely successful (for banks) https://pluralistic.net/2022/05/23/you-got-spacced/#the-house-always-wins

Catch me on tour with Red Team Blues in DC, Toronto, Oxford, Hay, Manchester, Nottingham, London, and Berlin!

#pluralistic

[factionaismartcity]

𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐢𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks. Most AI examples rely heavily on deep learning and natural language processing. Using these technologies, computers can be trained to accomplish tasks by processing large amounts of data and recognizing patterns in the data.

-ACCURACY – AI achieves incredible accuracy through deep neural networks. -ADAPTS – AI adapts through progressive learning algorithms to let the data do the programming -INTELLIGENCE – AI adds intelligence to existing products and many products already in use will be improved.

Faction Platform is a reason-based system that enables a machine to learn what is abnormal, without human pre-programing. Faction Holding’s Foundation products and patent portfolio are poised to capture AI, ML, eGaming, Blockchain, Metaverse, IoT, and Big Data tailwinds.

#AIinnovation #TechRevolution #FutureTech #SmartComputing #DataDriven #MachineLearning #DeepLearning #IntelligentSystems #CognitiveComputing #Robotics #AutonomousTech #AIethics #HumanMachineInteraction #AIforGood #EmergingTech #AIResearch #InnovationLab #AIIndustry #DigitalTransformation #AIAdvancements

[okletsgoalltheway]

I've been warning about this for years. Internet of Bodies! All tied to AI and smart-contracts blockchains. Monitored and relayed by relay stations hoisted on street lamp posts (camera surveillance) all around the cities!

Smart-Contracts? They are tokenized snippets of code/programs that require you to have met conditions before you can transact with the "eco-system". Otherwise, you're out!

Tie this in with a social credit and a carbon credit system, and your behavior will be fully controlled. The AI, using surveillance cameras, will identify who you are (thanks to Aman Jabbi, which he told me himself on the phone but acted like he did not know what smart-contracts was. He even had me explain what smart-contracts was.) and you will have no where to hide.

Do not comply!!

P.S. For those of you that do not know me. I'm an electronics hardware engineer and software engineer for 40 years. I've worked with game development and simulations for 30 years. I have 25 years of experience with AI (for game development) and was a blockchain developer for roughly 10 years (5 years with games). I'm also a war veteran that has seen tragedy and death up front, so I know what our psychopathic rulers are capable of doing. I'm fighting fiercely to warn people of the dangers of tech and false prophets!! I even wrote a book/blog on NWO at my website.

Oh, and for full disclosure, I don't own any patents! I don't own a company. I have no stock in any company. I don't receive any royalties. I don't work for any company. I'm not a millionaire. In fact, I receive disability from the VA and SS for my blindness due to the Gulf War. I own nothing. I'm shit poor! I gain nothing and stand to gain nothing from this.

Be your own leader! Do your own research and double-triple check! Dig dig dig! Follow NO ONE! Discern and make YOUR OWN preparations that best fit YOU and YOUR family! Trust NO ONE but read/listen to everyone. The psycho globalist have an agenda and it's not for your benefit. Don't follow anyone! Follow your heart and your mind and your intuition!

~ Joe Bantam

[fin-markets]

Cryptocurrencies

Almost everyone who uses the internet is now familiar with the term "Cryptocurrency". Today we're going to look deeper into this asset class and understand its properties.

A cryptocurrency, crypto-currency, or crypto is a digital currency that does not rely on any central authority to uphold or maintain it. Instead, transaction and ownership data is stored in a digital ledger using distributed ledger technology, typically a blockchain. This virtual currency is secured by cryptography, which makes it nearly impossible to counterfeit it or double-spend it. Cryptocurrencies enable secure online payments without the use of third-party intermediaries. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions.

Bitcoin has been the most popular and valuable cryptocurrency in the recent times. It was made available to the public in 2009, and it remains the most widely traded and covered cryptocurrency. As of May 2022, there were over 19 million bitcoins in circulation with a total market cap of around $576 billion. 

Due to the success of bitcoin, many other cryptocurrencies have been developed in the recent years. Some of these are clones or forks of Bitcoin, while others are new currencies that were built from scratch. They include Solana, Litcoin Ethereum, Cardano, and EOS. By November 2021, the aggregate value of all the cryptocurrencies in existence had reached over $2.1 trillion, of which 41% was contributed by Bitcoin.

Some of the interesting usages of cryptocurrency are as follows-

A censorship-resistant alternative store of wealth: Cryptocurrencies like Bitcoin act as a censorship-resistant alternative store of wealth that only the individual with the private keys to the wallet has access to. Hence, no personal Bitcoin wallet can ever be frozen by authorities.

Make private transactions: Cryptocurrencies such as- Monero (XMR), Zcash (ZEC), and PIVX (PIVX) enable users to make anonymous financial transactions. This enables users to avoid the hassle of explaining to the bank or other authorities the source of their funds, reasons behind the transaction, and to whom are they paying money.

Rent out your spare hard drive space to the cloud: Decentralized blockchain-based cloud storage solutions such as Storj enable users to earn cryptocurrency in exchange for renting out their hard drive storage space to those who need it on a peer-to-peer basis.

To understand the underlying properties of cryptocurrencies, it is important to have some understanding of the blockchain technology.

Blockchain Technology Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved. Financial institutions like JP Morgan have been testing the blockchain technology to lower transaction costs.

~Lakshya Kapoor

#finance #business #trade #companies #economy #banking #corporate #financial markets #investment banking

[legalupanishad]

Legality of NFTs in India as per IPR: All You Need to Know

This article on 'NFTs legality as per IPR: All You Need to Know' was written by Madiha Khan, an intern at Legal Upanishad.

Introduction

NFTs, or non-fungible tokens, are a type of cryptocurrency token that comprises a variety of physical and virtual properties. It includes images, gifs, drawings, movies, multimedia recordings, and other media. Each NFT is distinct and regarded as a rarity. A blockchain digital journal is used to document NFTs in a way that confirms their originality and legitimacy. Blockchain technologies are digital blocks that keep track of all the transactions involving the virtual digital asset, also known as VDA, where the data and title of NFTs holders are kept. The Intellectual property laws apply to royalty-free licenses on how their CryptoPunks may be used in derivative works belonging to NFT holders.

NFTs procedure

After establishing an NFT, the "smart contracts" replace the current system for the storing and exchanging of digital assets. A smart contract can be thought of as software programs connected to the NFT that includes information, guidelines, and rights relating to the primary asset joined to the NFT, like royalties from music, bonds, invoices, and so on. Thus, the "Tokenization" mechanism enables the original token creator to profit financially from future NFT buyers, which is made possible by the token's uniqueness. Authors can receive royalties on successive future sales of the original work within an NFT on popular NFT platforms like NiftyGateway, Rarible, OpenSea, etc

Intellectual Property Protection

NFTs might be covered by intellectual property rights such as copyrights, design, and trademark protections. As a result, buyers of NFTs should be aware of any associated intellectual property rights. Although design patents may be able to protect some NFT-protected assets, those NFTs would still be restricted by the same legal restrictions as conventional products and services. However, some NFTs may be subject to trademark and copyright protection.  Plausibly, NFTs could be tied to a legal right. The right to own one copy of the creative work (in the same way as one may own any goods or asset) and the freedom to make replicas and produce variants, however, are two distinct rights.

Copyrights protection

Even though NFTs are a pretty modern and somewhat unusual sort of art, copyright law will perceive them in the same manner as any other conventional works of art. They instantaneously become the owner of that work. Selling the printed copy or tangibly printed NFTs is not allowed, however, printing a non-fungible token is much simpler. Certain NFTs violate copyright laws by employing works of art that have been stolen from creators or well-known pieces that the NFT developers are not affiliated with and do not have permission to use. Copyright infringement can also occur even when these works are copied for NFT marketing purposes. An NFT can be screenshotted only for private use and infringement can occur if you resell it, claim ownership of it, share it online or elsewhere, or create a copy of the work for commercial purposes. If such actions are done, the NFT's proprietor may file a lawsuit against the infringer for copyright infringement, or be charged with additional crimes. Where copyright is concerned the title of the core rights can only be transferred to the NFT holder if the original work's author expressly approves doing so. Based on the terms of the transaction, an NFT owner may not be permitted to recreate, advertise copies, display the work publicly, showcase, or make backup copies of the original property only when copyright is transferred via licensing. Under Section 14 of the Indian Copyright Act of 1957, the copyright owner is granted several privileges, including the ability to make copies and alterations. When a customer purchases an NFT that correlates to artistic activity, they also receive a copy of the underlying work (in some digital format, such as.jpeg,.pdf, or.mp4) in addition to the NFT itself, or tokens. Any unauthorized use of an NFT and sending it to a client could be construed as copyright infringement. This goes for any unlawful distribution, copying, or adaptation of an NFT. Imposing IP rights against a buyer after an NFT sale can be difficult because NFT ownership is decentralized and blockchain transactions are immutable. Similar to a bank account, an NFT is typically associated with a mobile wallet address, but without strong digital evidence, identifying the wallet owner could be challenging. Thus, utilizing legally powerful takedown notices might stop the NFT from ever being sold.

The legality of NFTs

If NFTs were classified as derivatives, dealing in them would be prohibited in India since, in accordance with Section 18a of the SCRA (securities contract regulation act), such activity is not permitted on the internet. They are regarded as valid only when derivative transactions are traded on a lawful stock exchange. Commercial transactions known as derivatives generate their value from an underlying asset. These could include interest rates, indexes, commodities, currencies, exchange rates, and equities.  By wagering on the appreciation of the underlying asset, these investment products assist in generating income. The person who mints/makes the NFT is the rightful owner of it. Therefore, in reality, the NFT's owner is not always the author/creator. Nonetheless, minting an NFT of work for that another party owns the rights will effectively be regarded as the work's theft and a copyright violation. In 2018, the Reserve Bank of India (RBI) tried to outlaw the usage of bitcoin or cryptocurrencies. In reaction to the aforementioned order, a few businesses that run online crypto trading platforms and other groups filed appeals.

NFTs legality in India as per IPR: All You Need to Know

Suggestion

Misuse of an NFT or other IP connected to an NFT, you run a legal risk and can potentially be sued. Always beware that the work is not copyrighted content of another if you are an NFT author. Similarly, if you are an NFT holder, follow the rules that are there for your NFT to avoid infringement.  Always be alert and avoid clicking on dubious sites as it could be malicious and harm or hack your device by disclosing your password, or through user error, your NFT could be taken. Technically, a hacker would need access to your wallet in order to steal your NFT; otherwise, they would just be pulled out of thin air. With the advancement in technology, NFT can be stolen in several ways.

Conclusion

Therefore, it is crucial to make a distinction between both the sovereignty of the NFT and the IP that supports it when looking at the property rights implications of NFTs. The powers given through a license or assignment can differ from one NFT to the next, determining the rights provided by an NFT seller. India ought to take inspiration from nations with well-balanced legal and regulatory systems to reduce loopholes and avoid infringement of the rights of the author. NFTs do have advantages and disadvantages. The disadvantage is that there is no stability, and the public is concerned that the NFTs are blatantly overstated as well as the possibility that the NFT market might collapse.

Reference

- Bipul Kumar, 6th June, 2022, at:- https://www.khuranaandkhurana.com/2022/06/06/nfts-and-indian-law/ - ,September 5, 2022 https://blog.ipleaders.in/is-nft-legal-in-india/#:~:text=TradinginNFTswouldbe,onarecognisedstockexchange. - Pravertna Sulakshya, Khurana and Khurana, 17 November 2021, at:  https://www.mondaq.com/india/fin-tech/1132188/nft-and-its-relationship-with-ipr Read the full article

#Copyright #Intellectualpropertyrights #IPR #LawsinIndia #NFT #NFTs #non-fungibletokens #TRADEMARKS #TRADEMARKSININDIA

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