FERNDALE, Wash.--(BUSINESS WIRE)--Blockchain Labs, LLC announces the launch of its first service built on blockchain technology, PriorThings. PriorThings is a registration service that makes it possible for creative individuals and entrepreneurs to register their prior art on the public blockchain establishing a permanent record of their inventions and creative works.
PriorThings is a web app offered on either an annual subscription basis or through a perpetual license. The platform helps members gather intellectual property and creative works into bundles of digital assets. These bundles are then fingerprinted and registered on the blockchain. Presently, PriorThings is registering these assets on the Ethereum blockchain. The service demonstrates that the uses for blockchain technologies are not limited to FinTech applications.
PriorThings is not a replacement for copyright or the patent process. However, it does serve as an added layer of intellectual property protection. The same features of the blockchain that make it suitable for cryptocurrencies, chiefly the transparency, immutability and lower cost of transactions, make it the ideal platform for registering creative works and intellectual property.
Blockchain Labs, LLC was founded by David McInnis, founder of numerous successful digital companies including PRWeb and Cranberry. “Blockchain advancements represent the most significant technological advancement in networked application development in nearly two decades,” opined McInnis.
PriorThings makes it possible for individuals to begin their exploration of blockchain technologies without exposing themselves to the complexities of the inner workings of the core technology. PriorThings members do not need to set up cryptocurrency wallets to use PriorThings. “The idea was to create a system that allowed people to start engaging with this new technology platform,” said McInnis.
PriorThings recommends that members consult legal counsel to determine if the service fits into their intellectual property strategy. PriorThings is a powerful tool in helping entrepreneurs, businesses and thought leaders establish prior ownership of intellectual assets.
PriorThings is a service of Blockchain Labs, LLC. Blockchain Labs was established to explore opportunities for the commercialization and expansion of blockchain technologies outside of FinTech applications.