Proof of Ownership (PoO)

1. Proof of Ownership (PoO)

Forward Protocol supports the recognition and protection of the intellectual property of content creators. When a creator uploads their content, they can protect them by minting them as NFTs (non-fungible tokens), which uniquely registers and identifies each separate part of the creation on the blockchain.

NFTs in their current form are speculative assets with the option to buy, sell and hold. The real-world trade and commerce functions in the NFT space will add versatility and a wide range to the market. It will add the capabilities to license, rent, and lease NFTs either as an exclusive or semi-exclusive contract.To increase adoption, bulk minting and gasless minting are essential from a no-code interface.

An example from the Decentralized Education (DeEd) sector: Certification minted as NFTs for validation of skills certification.The smart contract becomes even more effective in combination with other contracts to validate the reputation score for the certificate. This will track the reputation of the test, the teacher, the student and the difficulty or value of the course itself. A course provided by a tier 1 university like Oxford would have a far higher certificate reputation score than a course provided by a local university as the course would have a greater value in the marketplace.

Gasless NFTs minting will assist organizations that issue millions of certificates. They can simply mint and allow students to claim the certificates with their Forward ID.​​

An example from the Decentralized E-commerce (DeCom) sector: Integrating the smart contract into camera filters, mobile apps, and one-click support for converting images shot through their app to NFTs with one click to rent or sell them later in the marketplace.

An example from the Decentralized E-commerce (DeCom) sector: A company wants to batch-upload 10,000 products to its e-commerce website. They can use the Proof of Ownership smart contract to upload them in batches and instantly add inventory to their stock without paying gas fees.