Blockchain revolutionizes digital ownership

Digital ownership means an entity has the legal rights and power to do whatever it wishes with a digital object or property. Ownership is often linked to assets that can be touched - such as real estate, cars, an equity, bonds or artwork. As our lives become ever more digitized and digital transactions grow, understanding our rights and obligations in relation to digital ownership has become all the more important. Digital rights can vary depending on what rights have been granted, and some of these rights may have a time period after which those rights expire; or the digital rights may also come with obligations. Such obligations could include the need to pay the original creator a share of the sale proceeds when a digital asset is resold.

Meanwhile, due to the increasing digitization of assets, blockchain technology offers an alternative means by which to own digital assets in a secure and accessible way. Blockchain technology allows people to own and control their digital assets wit…