Applying privacy & proof of ownership on software licenses & patents using non-fungible tokens on public blockchains & securing them using hashing algorithms

This paper presents methods for software licenses & patents issuance & validation using the peer-to-peer block chain technology and leveraging the properties of non-fungible token in order to state proof of ownership of the software licenses and patents. Further, the paper illustrates the implementation of different hashing algorithms to secure the confidential and non-public facing data associated with software licenses and patents and a mechanism to do validation of the ownership and authenticity of software licenses and patents on public block chain. By tokenization of these license and patent documents the intellectual property creators will have the capability to only reveal the data to the owners of their choice or whom they can trust to reveal the original data of these documents and can provide only ownership to the other holders of the non-fungible token. The paper will also illustrate brief comparisons between the gas requirements of different on-chain hashing algorithms and then using them while minting the non-fungible tokens for the licenses and patents.