The Blockchain Wallet API provides a simple interface for traders, so they can be used to programmatically interact with their wallets. Anything recorded on blockchain can not be changed, and there is a record for each asset. So, the business network in which participants may not be able to trust each other, they can trust that blockchain.
The benefits of blockchain for many business, including reducing the time (for information, settle disputes and verify the transaction), decreased costs (for overhead and intermediaries) and reduced risk (collusion, interference and fraud). If you are looking for more information about blockchain technology then you can browse https://applicature.com/.
As far as intellectual property is concerned, this thousand lines of code need to be protected for monetization. However, many applicants from the financial services industry are trying to protect their blockchain invention under the protection of IP and claiming the subject matter to get a monopoly to commercialize. The filing numbers are dramatically increasing each year..
Especially the key concepts such as Blockchain database, Blockchain transaction, security and authentication, Block chain smart IP contracts are the emerging technologies where the widespread filing of patents is happening. The blockchain technology is revolutionizing industries as varied as finance, fashion, government and health care, among others.