Blockchain Brand Protection
“Blockchain is the greatest invention since the Internet itself”
Blockchain development is exploding across various industries ranging from banking, healthcare, transportation to supply-chains. Industry leaders such as IBM, Microsoft, Amazon and Google as well as thousands of venture-capital funded start-ups are racing to dominate Blockchain applications.
Just like the emergence of domain names on the Internet in 1995 spurred the need for brand owners to defensively register domain names, trademark owners need to act quickly to defensively register their trademarks on blockchain domain names.
Blockchain domain names work just like regular domain names regulated by ICANN, by simply activating an extension in any web browser. However, unlike domain names regulated by ICANN, Blockchain domain names have none of the existing Rights Protection Mechanisms that Trademark owners rely on to protect and enforce their trademark rights, such as UDRP, URS, WHOIS and the Trademark Clearinghouse.
Blockchain domain names are decentralized, anonymous and immutable. This means that once a domain name has been added to the Blockchain, there is no way for brand owners to forcibly reclaim the ownership of the domain name. And there is no central authority, such as Registrars, Registries or Law Enforcement to turn to reclaim an infringing domain name.
Thus, with Blockchain domain names, it is recommended that brand owners proactively register Blockchain domain names to protect their trademarks