The process of registering intellectual property (IP) on the blockchain still takes approximately 30 minutes to complete, highlighting a significant user experience (UX) issue that has yet to be fully addressed.
The Story Protocol has made an attempt to tackle this problem by developing a programmable IP layer that incorporates advanced licensing primitives. This system relies on a rigorous validation pipeline that scrutinizes every interaction with the blockchain. The validation process involves a series of sequential checks, including the verification of wallet address format, private key validity, and IPFS hash format.
Although the introduction of such a validation pipeline represents a step towards enhancing the security and integrity of on-chain IP registration, the 30-minute timeframe for completion remains a significant hurdle. The implementation of a state machine has been proposed as a potential solution to streamline this process and improve overall efficiency.
The impact of this unresolved issue extends beyond mere convenience, as it can hinder the widespread adoption of blockchain-based IP registration. As such, finding a solution to this problem is essential for the growth and development of this technology. With the potential introduction of a state machine to optimize the registration process, it will be interesting to see how this space evolves in the coming months and whether a more efficient solution can be achieved.
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