Red Hat Applied for Blockchain Project Patent

August 28, 2018

Red Hat, organization focused on cloud technologies sector, has reported to create soon a blockchain project capable of tracking cloud software use.

New models for cloud software implementation require innovative ways for tacking it while distributive ledger described in the application is meant to become a perfect storage for this kind of data.

The patent also states that the software generally has a 12-month-license which means each product is prepaid for the next year, while today it gets licensed for the period it is used.

This project makes records in distributed ledger for transaction and general billing rules that set standards of product use for specific period of time. The ledger also registers authorized transactions defining the product. The system enables a consensus method to form blocks which means that they remain invariable later. With this system on, distributed ledger accurately registers applied software products with regard to all terms of their use.

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