of its development requires additional work on the core infrastructure to facilitate the impending Red Pulse PHOENIX open research platform. This will put into place a number of core elements for the research and knowledge ecosystem. Requirements covered:
proof of creation
proof of ownership
Creation is proved in Red Pulse by producing a hash to represent the content that’s been produced. This is stored permanently in the blockchain next to a creator/owner wallet address and timestamp.
Ownership is proved in Red Pulse thanks to the creation of a transfer function that lets the owner shift ownership to a different entity, identified by its wallet address. Provenance and ownership are validated and can easily be checked on the public blockchain.
Regulatory Compliance in Red Pulse is handled through the provision of an unassailable record on the blockchain of exact requests for information, along with related responses. This strongly encourages users to comply with laws and financial regulations in regard to all aspects of record-keeping.
IP Protection in Red Pulse is achieved through comparisons between newly produced and hashed content with existing hashes that were previously saved on the blockchain and the rejection of any attempted storage of identical content.
Red Pulse addresses accountability through the association of a unique wallet address with every on-chain research item. At the same time, a matching profile is held off-chain to continuously earn credibility and maintain reputation.
This upgraded and updated smart contract system offers great scope to business applications.