The telecom and networking giant Huawei has filed a Blockchain-based patent application which was published by China’s state Intellectual Property Office on Tuesday 6th March.
Initially the Shenzhen-based company filed its patent application on the 15th August 2016. Its described as a Blockchain-based verification system for protection of intellectual property rights for digital content within a peer-to-peer or P2P network.
Huawei described the Blockchain network as able to permanently record all verification data such as the ID of the copyright holder, and the point of access to digital content, according to the document filed.
When a download request is sent by the user within the P2P network, the verification system will identify and compare their private key or license before access to content is allowed. The application stresses that the download permissions will only be granted by the Blockchain-based platform if the validation data is an absolute match.
Although the Chinese government have banned all domestic cryptocurrency trading since September last year, meanwhile finalizing its full ban on foreign cryptocurrency exchanges and Initial Coin Offerings (ICO) in early February, the development of Blockchain is still seeing wide-spread development across the country.
On February 27th this year JD.com, china’s top retailer launched the Al Catapult start up accelerator program dedicate to funding innovative Blockchain projects. This attracted four overseas businesses to Beijing. It has also been reported that JD.com is planning to implement a Blockchain based food tracking system in its supply chains.