FinTech sector has seen tremendous growth in areas like Blockchain and Cryptocurrency, which demands dynamic approach to address legal and regulatory concerns. Issuance of tokens, cryptocurrency or digital currency exchange platforms, crypto investment funds and blockchain based innovations have resulted in the need for next generation legal services covering Blockchain Laws, Cryptocurrency Laws, Patent Laws, Internet Laws and Intellectual Property Rights (IPR).
Bitcoin has been in the news since its invention in 2009, wherein value of Bitcoin has seen drastic ups and downs during the last few years. As a cryptocurrency, Bitcoin made news as the revolutionary future of digital transactions and payments. In operation, the technology that made Bitcoin a possibility is undeniably, even bigger of an invention in both scale and ingenuity. The backend technology that empowers Bitcoin is Blockchain, also known as the new age internet or, Internet 3.0.
Companies interested in digital transformation are developing innovative processes to integrate blockchain into their existing business models and investment models. Global business executives have experienced that despite its vast and still untapped potential, blockchain technology has not caught up with the mainstream audience yet.
In essence, blockchain is an enhanced and secured version of the internet which provides an incorruptible and smooth upkeeping experience of economic transactions and other such data of incomprehensible value.
A basic understanding of blockchain reveals that blockchain technology is a way of documenting information and data, that can be of any form, ranging from transactions to messages, games or even online trading shops. The execution models of blockchain are based on usage of multiple systems to form a network, wherein such systems are in constant sync to store data. Since the data is stored across multiple data servers that form the network, there is no central point and the whole platform is decentralized. The decentralization aspects of blockchain make it exceptionally immune to hacking and other such security scares. Hence, the blockchain network is known as a P2P (Peer to Peer) network. In use, a P2P network ensures that even if one data entry point or server is lost or damaged, the data stays safe in the form of multiple copies in other systems.
Blockchain, as the name implies, operates by organizing data in blocks, whereby the P2P network allows for the formation of linking to form chains of data servers. This distributed data is in the form of ledgers, which possess various key features, such as, decentralization of data, wherein the data is spread across a network of systems rather than on one central computer. Additional features of blockchain include transparency, wherein the whole ledger of transactions is easily accessible for anyone to verify. Also, all blockchain transactions are duly recorded, wherein the information stored is in the form of proper records with timestamps.
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Law Office of Patent Attorney Rahul Dev offers high value software patent drafting and patent due diligence services to clients by using proprietary and efficiently proven process along with a fixed fee costs, for performing comprehensive patent investigations and providing clients with strong patent reports for decision making.
We provide comprehensive Patent and Trademark legal services via our global network to create valuable patent portfolios and resolve complex patent disputes by providing patent litigation support services.
Our team of advanced patent attorneys assists clients with patent searches, drafting patent applications, and patent (intellectual property) agreements, including licensing and non-disclosure agreements.
Advocate Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology, Intellectual Property & Corporate Laws. He is reachable at rd (at) patentbusinesslawyer (dot) com & @rdpatentlawyer on Twitter.
Quoted in and contributed to 50+ national & international publications (Bloomberg, FirstPost, SwissInfo, Outlook Money, Yahoo News, Times of India, Economic Times, Business Standard, Quartz, Global Legal Post, International Bar Association, LawAsia, BioSpectrum Asia, Digital News Asia, e27, Leaders Speak, Entrepreneur India, VCCircle, AutoTech).
Regularly invited to speak at international & national platforms (conferences, TV channels, seminars, corporate trainings, government workshops) on technology, patents, business strategy, legal developments, leadership & management.
Working closely with patent attorneys along with international law firms with significant experience with lawyers in Asia Pacific providing services to clients in US and Europe. Flagship services include international patent and trademark filings, patent services in India and global patent consulting services.
Global Blockchain Lawyers (www.GlobalBlockchainLawyers.com) is a digital platform to discuss legal issues, latest technology and legal developments, and applicable laws in the dynamic field of Digital Currency, Blockchain, Bitcoin, Cryptocurrency and raising capital through the sale of tokens or coins (ICO or Initial Coin Offerings).
Blockchain ecosystem in India is evolving at a rapid pace and a proactive legal approach is required by blockchain lawyers in India to understand the complex nature of applicable laws and regulations.