I. Introduction
We often find the occurrence of large losses in terms of finance and resources due to copyright and violation of privacy [1]. One of the major areas where digital privacy is often violated is the music industry. The artists are unable to get proper return financially on their work because the free copies are distributed over the internet. Other sectors which often faces these issues are painting, movie or short film productions. The same case goes with the other industries like IP registries, micro-payments industry, or even a patent industry. What all these industries have in common is that to function properly, they have to depend on central governing authority and every decision needs to be made by them which creates a bottleneck within a system. Also, the general public is unable to remain updated with all the recent happenings like tracing back the lifeline of the asset.