Leveraging Hyperledger Besu-Based Private Blockchain, IPFS, and NFTs for Secure and Transparent Intellectual Property Preservation and Trading

Abstract

In this paper, we addressed the ongoing difficulties of managing intellectual property (IP) in the digital era, such as unauthorized usage, forgery, and insufficient global protections. The intangible nature of intellectual property, combined with the challenges and opportunities brought by rapid technological advancements, calls for a modern and robust solution to ensure its secure management and transparent trading. To meet this need, we propose an integrated framework utilizing a private blockchain based on Hyperledger Besu, the InterPlanetary File System (IPFS), and non-fungible tokens (NFTs). Our system enables secure IP verification, decentralized storage, and effective tokenization, allowing transparent trading and licensing of IP assets. By employing the Quorum Byzantine Fault Tolerance (QBFT) consensus algorithm, our approach guarantees strong security, data privacy, and reliable verification. IPFS provides immutable file storage, while NFTs uniquely represent IP assets, ensuring authenticity and traceability. The findings indicate notable advancements in system performance, featuring increased throughput, lower latency, and improved computational efficiency when compared to conventional methods like Proof-of-Work (PoW) and Proof-of-Stake (PoS).