Theory and practice of intellectual property
№ 1-2 / 2023
ISSN (Print) 2308-0361
ISSN (Online) 2519-2744
PDF (Ukrainian)DOI: https://doi.org/10.33731/1-22023.277148
Submitted 2023-01-29
Accepted 2023-02-17
Published 2023-03-27
Patenting of cryptocurrency and blockchain technologies: status, trends, regulatory problems
Gennadiy Androshchuk
Ph.D. (Economics), Associate Professor, Chief Researcher of the Department of industrial property and commercialization of intellectual property objects of the Intellectual Property Scientific Research Institute of the National Academy of Legal Sciences of Ukraine
Ukraine
https://orcid.org/0000-0003-0781-9740
Abstract
The economic and legal problems of the development of innovative technologies of the digital economy (using the example of cryptocurrency and blockchain) are studied: the issue of state regulation of cryptocurrency, the possibilities of its creation, use, and limitations, the importance and prospects of their use in the modern world and in Ukraine. Cryptocurrency is one of the most promising technologies of the digital economy, which is actively developing every year, and the volume of its circulation is increasing. Ukraine is among the world leaders in the use of cryptocurrencies. In Ukraine, the Law «On Virtual Assets» was adopted, which regulates the procedure for the emergence, change, and termination of rights to a new object of civil law for Ukrainian legislation — cryptocurrency. It is shown that blockchain technology is the main technology of digitalization of social relations and legal processes in most developed legal systems of the world, which is used in the field of cryptocurrencies, smart contracts, registration of intellectual property (IP), e-commerce, and the Internet of Things, the economy of joint participation, etc. The connection between patents and cryptocurrency was revealed. The patenting of Blockchain, Crypto, and DeFi technologies was analysed. Recently, many IP offices have revised the norms of patent legislation and the rules of examination of patent applications in order to recognize the patentability of these technologies. The best experience of legal regulation, inventive activity, and the dynamics of patenting of inventions in this area in different jurisdictions (USA, EPO, China, France, Japan, South Korea), technological trends, and regulatory problems are analysed. Recommendations on increasing the effectiveness of activities in this area in Ukraine have been provided. It is necessary to implement the rules of the EPO Guidelines (Guidelines for Examination) on computer-implemented inventions in the Rules for drawing up, submitting, and examining an application for an invention and an application for a utility model.
Cryptocurrencies and blockchain have significant potential; many companies have invested heavily in these fields, so countries’ patent laws must ensure the protection of the respective investments.
Keywords: intellectual property, blockchain, cryptocurrency, patenting, inventions, IT technologies, innovation, digital economy
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