Blockchain Technology

Abstract

In this paper, the purpose is to scrutinize the two main obstacles to patent registration, which are associated with novelty and non-obviousness identification and patent pendency. Another purpose is to investigate the potential impact of blockchain technology management on analyzed patent big data results. From the results of this documentary analysis, it can be assumed that blockchain technology management can resolve these two-point limitation and drive the potential for improved patent application searches. The advantage lies in a blockchain advancement that can foresee smart contracts and track the stages of decentralized patent applications. Besides, its function can support AI/software program to exchange big data available for utilization. Nevertheless, some impediments may be anticipated to the patentability on such a blockchain technology: namely, the problem of scope and the hardship of creating a lawful framework for gathering and presenting the blockchain result.