Into the Patentverse: Web 3.0, Blockchain, Cryptocurrency, and NFTs

​​Patently Strategic - Patent Strategy for Startups

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“Metaverse” is the buzziest of the buzzwords in tech today and will soon be joining the ranks of “AI” and “ML” as requisite keywords in the next generation of pitch decks and patent applications. But what are the core components of the Metaverse? And what are their implications in the world of intellectual property? The Patently Strategic Podcast will be exploring this topic over the course of several upcoming episodes.
We begin our exploration with Web 3.0. While it may prove to be the next great tech revolution, the broad shape and definition of the Metaverse itself is still more firmly baked in science fiction than in commercial tech reality. Many of its core building blocks, however, are likely right in front of our eyes (or headsets, perhaps). History shows that most major technology revolutions are rarely leaps, but instead evolutionary products of incremental steps, composed of many existing building blocks, met with market readiness. The Web 3.0 innovations of blockchain, cryptocurrency, and NFTs that are taking shape in front of us will no doubt be among these essential building blocks.
This third phase of the internet also poses some of the most interesting questions for the world of IP. What will the impact be on digital property rights in a secure marketplace, governed by smart contracts? How will copyrights play in digital worlds with their own art and governance? Is there merit in considering a new type of protection category outside of patents and copyrights?
In our very first IPWatchdog episode, Kristen Hansen, Patent Strategist and software patent guru here at Aurora, leads a discussion along with our all star patent panel, digging into:
⦿ The fundamentals of blockchain, cryptocurrencies, and NFTs – and why the hype
⦿ The state of the technology
⦿ Questions around what web evolution, blockchain, and NFT technology means for IP ownership
⦿ And strategies for protecting blockchain and cryptocurrency innovations
Kristen is also joined today by our always exceptional group of IP experts including:
⦿ Dr. Ashley Sloat, President and Director of Patent Strategy at Aurora
⦿ David Jackrel, President of Jackrel Consulting
⦿ Shelley Couturier, Patent Strategist and Search Specialist
⦿ Daniel Wright, Patent Strategist
** Resources **
⦿ Show Notes: https://www.aurorapatents.com/blog/new-podcast-into-the-patentverse-vol-1
⦿ Apply to come work with us: https://www.aurorapatents.com/careers.html
** Follow Aurora Consulting **
⦿ Home: https://www.aurorapatents.com/
⦿ Twitter: https://twitter.com/AuroraPatents
⦿ LinkedIn: https://www.linkedin.com/company/aurora-cg/
⦿ Facebook: https://www.facebook.com/aurorapatents/
⦿ Instagram: https://www.instagram.com/aurorapatents/

And as always, thanks for listening!
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Note: The contents of this podcast do not constitute legal advice.

Chapters

1. Intro (00:00:00)

2. Overview (00:04:25)

3. Why the hype? (00:04:37)

4. What is blockchain? (00:07:10)

5. Blockchain is decentralized (00:07:18)

6. Blockchain is immutable (00:08:24)

7. Blockchain is time-stamped and logged (00:08:37)

8. Blockchain secure (00:08:56)

9. Blockchain is programmable (00:10:01)

10. Blockchain is unanimous (00:10:35)

11. Blockchain is distributed (00:11:21)

12. Blockchain is anonymous (00:11:58)

13. What is cryptocurrency? (00:12:23)

14. Obtaining cryptocurrency (00:14:08)

15. Cryptocurrency features (00:15:59)

16. How changes are made on the blockchain (00:19:36)

17. Tips for working with inventors on drafting blockchain applications (00:20:35)

18. Cryptocurrency coin example (00:22:19)

19. What is an NFT? (00:24:56)

20. Difference between NFT and cryptocurrency (00:25:41)

21. Smart contracts (00:27:37)

22. Evolution of the web (00:28:22)

23. Web 3.0 (00:30:22)

24. What does this all mean for IP ownership? (00:31:35)

25. Blockchain and cryptocurrency patent strategies (00:45:27)

26. Blockchain and cryptocurrency claims (00:46:43)

27. Specification concerns (00:48:09)

28. Key takeaways (00:52:06)

29. Outro (00:54:02)