The inherent characteristics of blockchain have made it an ideal research topic over the past decade, with nations and global corporations pouring billions into R&D.
PALO ALTO, CA (PRWEB)
July 12, 2022
Blockchain remains a staple as a key disruptor in technology, fueling the construction of new frontiers such as Web 3.0 and the Metaverse. Prevalent 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 blockchain in all areas that prioritize data accuracy and transparent transaction visibility, including patent protection systems.
Countless blockchain innovations are patented every year across the world. The challenge is to verify the claim, ensuring that its content does not match any precedent. Keeping blockchain aside, the patent application process itself is long and arduous. A slight malpractice can easily cost companies well over millions in lawsuits. Blockchain offers a unique solution guaranteeing the integrity and authenticity of data in addition to providing visibility on a secure decentralized infrastructure.
Recognized pioneer of the blockchain, the HashCash Consultants The CEO says, “Blockchain’s inherent characteristics have made it an ideal research topic over the past decade, with nations and global corporations pouring billions into R&D. These investments have fueled innovation leading to numerous patent claims in a short time, including those for efficient management of the patent claims systems database.
Blockchain transactions carry timestamps authenticating the date of the transaction. The process of examining the effectiveness of the proposed solution, that is to say the verification part, remains time-consuming. But, submission timestamps offer evidence of quick resolution of patent disputes. It is also an effective tool for both parties to avoid the hassle of patent litigation.
“Blockchain with its transaction hashes and network architecture offers high security encryption for companies storing confidential research data prior to patent application. The timestamps validate the stored data, serving as evidence in the event of a patent dispute,” concluded Chowdhury, who previously expressed support for blockchain analysisand the potential for blockchain implementation in aviation management.
Led by Chowdhury, US-based HashCash Consultants is a global leader, winning great honors as a blockchain development company. The company has deployed products in over 26 countries across 6 continents, including a crypto payment processor that is currently trending in the United States. HashCash has recently been involved in the development of a blockchain travel rewards platform.
The growing possibilities for blockchain integration are evident from the perspective of global industry leaders. Businesses seeking digital transformation can optimize and take advantage of business opportunities through the power of blockchain.
About Raj Chowdhury:
Raj Chowdhury is the general manager of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank implementation of blockchain technology trade finance and remittance transfers between two of the world’s largest banks. Raj is a leading voice in the Blockchain and Cryptocurrency space and actively engages with policy makers in this area. He is a contributor to Economic Times, Business World and CNNMoney and advises industry leaders on Blockchain adoption. He is a member of Asha Silicon Valley, a non-profit association committed to the education of 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.
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