MUMBAI, India, June 26 -- Intellectual Property India has published a patent application (202621056810 A) filed by Ms. Sneha Chandrakant Nahatkar on May 05, 2026, for Development Of A Blockchain-Enabled Smart Contract System For Fully Automated And Reliable Transactions.
Inventor includes Ms. Sneha Chandrakant Nahatkar.
The application for the patent was published on June 19, 2026, under issue no. 25/2026.
Abstract: In recent years, the rapid growth of cryptocurrencies and blockchain technology has revived Nick Szabo’s original concept of smart contracts, which are self-executing digital protocols that automatically facilitate, verify, and enforce agreements without the need for centralized authorities. These contracts have gained significant adoption across multiple sectors, including finance, management, healthcare, and the Internet of Things, and have become a core component of leading blockchain platforms such as Ethereum and Hyperledger. Despite their wide-ranging potential, smart contracts are still in a relatively early stage of development and face several critical challenges, particularly in terms of security and privacy. A prominent example is the 2016 DAO attack, which exposed vulnerabilities and led to substantial financial losses. This paper provides a detailed overview of blockchain-based smart contracts, covering their working mechanisms, major platforms, and a structured six-layer research framework, while also discussing key challenges, emerging advancements, practical applications, and future research directions.
Disclaimer: Curated by HT Syndication.
