Blockchain Data Management Systems can transform patent claims: HashCash CEO Raj Chowdhury
The HashCash manager explains how uploading research data to blockchain can serve as evidence to resolve patent disputes while increasing security through encryption.
PALO ALTO, California, July 12, 2022 / PRNewswire-PRWeb / – Blockchain remains a mainstream inventory as a key disruptor in the technology domain, driving the construction of newer frontiers such as Web 3.0 and metaverse. Widespread in the financial sector, cryptocurrencies and supply chain management, the technology is also adept at optimizing existing infrastructure. HashCash Consultants Chief Raj Chowdhury addresses the revolutionary potential of blockchains across all domains that prioritize data accuracy and transparent transaction visibility, including patent protection systems.
Countless blockchain innovations are patented every year around the world. The challenge is to verify the claim, and ensure that the content does not match any previous. If you keep the blockchain aside, the patent application process itself is long and strenuous. A small mistake can easily cost companies well over millions in lawsuits. Blockchain offers a unique solution that ensures data integrity and authenticity in addition to offering visibility across a secure decentralized infrastructure.
A well-known blockchain pioneer, CEO of HashCash Consultants, claims, “Blockchain’s inherent characteristics made it an ideal research topic over the past decade with both nations and global companies pumping billions into R & D. These investments drove innovation that led to a number of patent claims in short time, including those for efficient database processing of patent claims systems. “
Blockchain transactions have timestamps that authenticate the date of the transaction. The process that examines the effectiveness of the proposed solution, ie the verification part, is still time consuming. But the filing timestamps provide evidence of quick resolution of patent disputes. This is also an effective tool for both parties to avoid litigation related to the patent.
“Blockchain with its transaction hashes and network architecture offers high-security encryption for companies that store confidential research data before applying for patents. the potential for blockchain implementation in aviation administration.
Led by Chowdhury, the US-based HashCash Consultants is a global frontrunner, winning top awards as a blockchain development company. The company has distributed products to more than 26 nations on 6 continents, including a crypto payment processor that is currently trending across the United States. HashCash has recently been involved in the development of a blockchain-driven travel rewards platform.
The growing potential for blockchain integration is evident from the views of global industry leaders. Companies seeking a digital transformation can optimize and leverage business opportunities with the power of blockchain.
About Raj Chowdhury:
Raj Chowdhury is the CEO of HashCash Consultants and a Blockchain pioneer. Raj was a pioneer in the first interbank trading financing and remittance implementation of Blockchain technology between two of the largest global banks. Raj is a prominent voice in the Blockchain and Cryptocurrency area and actively engages with decision makers in this area. He is a contributor to Economic Times, Business World and CNNMoney and advises industry leaders in the introduction of Blockchain. He is a member of Asha Silicon Valley, a non-profit organization committed to educating children in emerging countries. Author of the book ‘The Dark Secret of the Silicon Valley’, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
Media contact
COLEEN F, Hashcash Digest, +14159662907, [email protected]
SOURCE Hashcash Digest
