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ARTICLE · 24 AUGUST 2018

Patentability Of Block Chain Technology

S.S. Rana & Co.
S.S. Rana & Co.
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Generally, inventions covered in patent application are required to satisfy the test of novelty, nonobviousness and industrial applicability.

IndiaIntellectual Property
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Blockchain technology is basically a type of technique or platform used to implement public ledger system. The blockchain is an indestructible digital ledger with respect to economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Data can be sent across a network securely by implementing blockchain's ledger methodology and cryptographic techniques. The technique will ensure that the data is from the correct sources and that there are no interim obstructions interim. If this technology is used more widely then the probability of hacking can be decreased.

In contrast to conventional centralized data management system, blockchain technology integrates data in a unique ledger while maintaining consistency even with a decentralized management. The benefit of decentralized control is that it eliminates the risks of centralized control. With a centralized database, anybody with sufficient access to that

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