The Thai Ministry of Commerce has joined hands with the British Embassy to use blockchain technology in managing intellectual property (IP), with the aim of developing commercial applications.

Brian Davidson, UK Ambassador to Thailand, revealed that the United Kingdom supports more freedom in trade and the use of technology to facilitate trading, including the use of blockchain. He added that the embassy will be working closely with the ministry to adopt blockchain for IP applications.

Pimchanok Wonkorporn, Director-General of the Ministry’s Trade Policy and Strategy Office (TPSO), stated that blockchain is set to revolutionize the economy and society in the digital era, as blockchain is a transparent, immutable system that can reduce problems of corruption. She expressed her belief that blockchain will promote trust in trade, especially online trading.

Pimchanok added that the TPSO is looking forward to promoting e-commerce, especially in terms of intellectual property, by using blockchain. The TPSO is launching a project to offer services in registering and managing licenses for e-books, and several publishers have been invited to participate in the pilot.

Meanwhile, Anat Leemakdet, Director of the Center of Intellectual Property and Business Incubator at Thammasat University, said that at least eight projects will be carried out in cooperation with the Ministry of Commerce. The projects will last from one to three years, using a total budget of 37.9 million baht.

For short-term projects, Leemakdet suggested that the ministry import all IP data in the Department of Intellectual Property’s IP Mart to a blockchain platform for all stakeholders to access. In the next stage, the Ministry of Commerce may cooperate with e-book publishers to develop a standard for monitoring licensing information on the blockchain, which will lead to other projects, such as the valuation of intellectual property and online traceability.

Source: www.khaosod.co.th

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

• Telegram: https://t.me/asiablockchainreview
• Facebook:https://www.facebook.com/pg/asiablockchainreview
• Twitter: https://twitter.com/abr_blockchain
• LinkedIn: https://www.linkedin.com/company/18717871
• Website: https://www.asiablockchainreview.com/
• Email: [email protected]
• Youtube: https://www.youtube.com/channel/UCMQ5CVu0c9-pMlwB8LUvkiA