Author: Annaliese Milano Translated by: Clover
Several EU agencies will collaborate in June to launch an EU developer event - the "blockathon" - to explore the technology's use in intellectual property enforcement.
The European Commission and the European Union Intellectual Property Office (EUIPO) and its Intellectual Property Infringement Observatory announced Wednesday that the three agencies will collaborate to launch a hackathon in Brussels in which contestants will work on developing a blockchain-based "anti-counterfeiting" Integrated Solutions".
The winning team will win €100,000 (~$124,000).
The three EU bodies estimate that in 2017, some 43 million EU citizens bought counterfeit products without their knowledge. However, they explained in their statement that existing prevention systems are "too fragmented, often working independently, and criminal networks exploit them to their advantage".
As such, Antonio Campinos, executive director of the European Union Intellectual Property Office, said the agency was looking into whether blockchain could be used as a potential tool to help solve this problem.
He explained:
“EUIPO has decided to study the potential of blockchain to unblock systems while ensuring data security and immutability in order to increase their trust in our legitimate ecosystem for the benefit of citizens, enforcers and companies. We believe that a strong network of Alliance to secure logistics, ensure the authenticity of goods, protect consumers and combat crime and illegal activity.”
Blockchain intellectual property use cases have been established in the early stages of the industry, with several companies already using the Bitcoin blockchain to store and track digital certificates of ownership. Since then, a number of startups and project teams have begun to apply the technology to networks that are not based on Bitcoin.
Last year, for example, a project promoted by the Society of Composers of America began developing a platform to track the ownership of legally protected musical compositions.
This article only represents the author's personal opinion, does not represent the position of the blockchain pencil, does not constitute investment advice, and the content is for reference only.
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