Huawei’s Patented Blockchain-Based System Has Unveiled

China’s State Intellectual Property Office has recently published a patent application filed by Huawei regarding a Blockchain based system. The patent was filed back on 15th August 2016. Looking into the document, it describes a verification system based on Blockchain that can be used to protect intellectual property rights of digital content inside a P2P (peer to peer) network.

Huawei has also provided some intel regarding their new patented system. As stated by the company, the blockchain network will permanently record all verification data including ID of the copyright holder, point of access to digital content, and much more.

When a user requests to download a certain content within the P2P network, the system will identify the person and compare their private key/license and then grant access to the requested content. Download permission will only be granted if verification data matches completely.

Huawei is also known to have joined the Hyperledger blockchain consortium in October 2016. Recently, the Hyperledger Sawtooth software – a modular platform for building, deploying, and running distributed ledgers was released. Huawei became one of its early adopters and is currently developing a decompiler for the software.

Blockchain-based technology and similar innovation are growing spontaneous in China without any hindrance. Just last month, on Feb 27, one of the top Chinese retailers, launched AI Catapult. It will be a startup accelerator program targeted at funding innovative blockchain products and also try to attract four oversea businesses to Beijing. Besides, this the company has also implemented a blockchain based system themselves for food tracking.

Despite all these innovation and implementation surrounding blockchains, the Chinese government is very strict regarding bitcoin and cryptocurrency. Last year, the government banned all domestic digital currencies from the country. Also, in 2018, Feb, the Country had finalized a complete ban on all foreign digital asset exchanges as well as ICOs.

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